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VanGold Mining plans to conduct a 1,000 tonne bulk sample from its El Pinguico silver & gold project

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The El Pinguico project, a significant past producer of high-grade gold and silver, is located 7 kilometers south of the city of Guanajuato, Mexico.

Additional Information:

Company: VanGold Mining Corp
Website: http://www.VanGoldMining.com
Stock Symbol: TSXV: VGLD
Date Published: May 15, 2020
Transcript: Available

Video Transcript:

I’m Fiona Forbes for Investmentpitch Media

VanGold Mining Corp, a mineral exploration company active in central Mexico, plans to conduct a 1,000 tonne bulk sample from its El Pinguico silver and gold project.

The El Pinguico project, a significant past producer of high-grade gold and silver, is located 7 kilometers south of the city of Guanajuato, Mexico.

VanGold has entered into an agreement with Endeavour Silver to process 1,000 tonnes of mineralized material at Endeavour’s Bolanitos mill, located to the north of Guanajuato and approximately 28 kilometers from El Pinguico.

Endeavour and VanGold plan to conduct this test at the start of Bolanitos’ commercial operations, following the lifting of Mexico’s national “stay at home” order relating to the Covid 19 pandemic.

By conducting this large test, VanGold will gain valuable metallurgical and precious metal recovery information pertaining to the mineralized material on the El Pinguico property and gather critical economic data regarding the potential for direct shipping of this material from El Pinguico to one of several operating mills in the Guanajuato area.

James Anderson, CEO, stated: “We would like to thank everyone at Endeavour Silver Corp. for working with us to conduct this bulk sample. In the future we look forward to co-operating with them on other initiatives in the Guanajuato area.”

VanGold will perform a floatation metallurgical test where the final product will be a concentrate that will show metallurgical recoveries, as well as give the company accurate costs associated with the processing of this material.

The company has engaged with local contractors in Guanajuato to haul approximately 70 fifteen tonne truckloads of this material to Bolanitos.

All of the material for this test will be taken from VanGold’s surface stockpile which was left in place when mining ceased at El Pinguico in 1913.

This stockpile contains an exploration target of 175,000 to 185,000 tonnes grading 1.25 to 1.35 grams per tonne gold equivalent.

The company cautions that these numbers are conceptual in nature.

Prior to the Mexican revolution in 1913, El Pinguico was a high-grade, 400 ton per day operation, with the area currently hosting several active mining locations.

From the early 1890s until 1913 mining was done exclusively from the El Pinguico and El Carmen veins, which are thought to be splays off the Mother Vein, or ‘Veta Madre.’

The Veta Madre is associated with a mega fault that outcrops for 25 kilometres and is the most important source of precious metal mineralization in the region.

The Veta Madre may cross VanGold’s property at depth, underneath the high grade El Pinguico and El Carmen veins.

Very limited drilling has been done on the property and no drilling has attempted to encounter the Veta Madre at depth.

Hernan Dorado Smith, VanGold Mining Engineer and Director, added: “It has been 107 years since the El Pinguico mine closed. It is heartening for our stakeholders to know that gold and silver may once again be produced from mineralized material from this property.”

Historic stockpiles of mineralized material exist on surface and underground at El Pinguico which may potentially provide feed to one of several operational mills in the Guanajuato area.
Following a lengthy halt, as the company underwent a change in management, while re-focusing operations on the Mexican Silver Belt, the shares are now trading at $0.10.

For more information, please visit the company’s website at www.VanGoldMining.com, contact James Anderson, CEO, at 778-989-5346 or email james@VanGoldMining.com.

I’m Fiona Forbes for Investmentpitch Media