Vangold Mining Corp. [VGLD-TSXV; VGLDF-OTC; VAQ-FSE] reported assays from channel sampling of an underground vein exposure encountered at its 100%-owned El Pinguico silver and gold project located 7 km south of Guanajuato, central Mexico.
The company reports assays of channel samples taken from safely accessible pillars and stope walls within an ore shoot of the El Pinguico vein system between the fourth and sixth levels (from approximately 130 to 185 metres below surface), covering an area approximately 55 metres in height by 60 metres in width, and where the stoped-out area, plus remaining vein material, ranges from 1.5 metres to 5.5 metres wide. This exposure is adjacent to the El Pinguico shaft where crews continue to remove material blocking access to the No. 7 adit level.
Sampling highlights include 1.6 metres grading 1.72 g/t gold and 629.6 g/t silver, for 9.59 AuEq, or 767.2 AgEq; 1.3 metres of 4.00 g/t gold and 403.6 g/t silver, for 9.05 AuEq, or 723.6 AgEq; and 1.2 metres of 4.59 g/t gold and 465.9 g/t silver, for 10.41 AuEq, or 833.1 AgEq. Refer to company press release for all assays.
This underground vein material was not extracted when the mine was operational from the late 1890s until 1913, despite it being immediately adjacent to the El Pinguico shaft, presumably because the material would not have exceeded the mine’s extraordinary cut-off grade at that time of approximately 15 g/t gold equivalent per tonne. The results of this sampling have given the company added confidence that significant amounts of good grade material, left when mining ceased over a century ago, remain to be identified within and adjacent to the El Pinguico historic workings.
Vangold Mining director William Gehlen, geologist and epithermal system expert, said: “There are a lot of things to like about these results, and chief among them is the uniformity of good grades from what was historically considered waste rock. Historical geologic reports that discuss the El Pinguico vein system comment on the consistency of high-grade distribution within the veins. If Vangold continues to find these sorts of grades in the wall rocks left behind by previous mining, the residual material could represent a significant resource and the potential to find additional and wider vein zones of potentially economic grades in unexplored parts of the system seems possible.”
The underground (UG) stockpile consists of material that in 2012 the Mexican Geological Survey agency determined to be 148,966 tonnes in size. In 2017, Vangold conducted a trenching program at the top of the UG stockpile. This program resulted in a weighted average of all of the trench samples of 1.75 g/t gold and 183 g/t silver.