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Feature Company: Vangold Mining Corporation (TSXV:VGLD)

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Today’s feature company is Vangold Mining Corporation, a mineral exploration company active in central Mexico.

Additional Information:

Company: Vangold Mining Corporation
Website: http://www.VanGoldMining.com
Stock Symbol: TSXV: VGLD
Date Published: Apr 24, 2020
Transcript: Available

Video Transcript:

I’m Fiona Forbes for Investmentpitch Media

Today’s feature company is Vangold Mining Corporation, a mineral exploration company active in central Mexico.

Although the Mexican government has curtailed non-essential economic activities in response to the Covid-19 pandemic, the company is allowed to continue work on its 2020 campaign to advance its El Pinguico project, a significant past producer of high-grade gold and silver, located 7 kilometers south of the City of Guanajuato, Mexico.

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.

VanGold is in discussions with local contractors to deliver a substantial bulk sample from its surface mineralized stockpile, which has remained in place since 1913, for processing at a local mill within the area.

Processing the bulk sample will provide important information regarding metallurgy and precious metal recoveries to assess the economic viability of direct shipping both surface and underground material from the El Pinguico project on an ongoing basis.

In the early 1900’s, El Pinguico was mined on 10 levels and from four major shafts.

The most central of these shafts, and the one located closest to the company’s underground stockpile, is called the El Pinguico shaft.

Crews will begin clearing the bottom of the El Pinguico shaft down to the 7th adit level, also known as the Sangria level, as soon as Mexico lifts Covid-19 work restrictions.

Initially, the company will conduct a sampling program of material at the bottom of its historic under-ground stockpile in order to gain confidence that the grade encountered by VanGold’s 2017 trench sampling program at the top of the stockpile, which averaged of 3.56 grams per tonne of gold equivalent, extends to the bottom of the stockpile.

The company also plans to re-enter and sample previously mined stopes, especially the Colmillo stope, located adjacent to and above the Sangria adit level and thought to be an area of potential high-grade vein material, as evidenced by assays from historical channel sampling.

Company contractors will re-enter the Sangria adit itself and assess the condition of the adit and the competency of the rock formations that the adit cuts through.

This will be a first step in understanding what refurbishing will need to be done should the company decide to use the Sangria adit to bring mineralized material from the underground stockpile to surface in a safe and cost-effective manner

As VanGold continues to compile all relevant historical and contemporary geological data, drill targets established in the company’s 2017 NI 43-101 report are being augmented with drill targets that could be accessed using underground drilling equipment.

In this way, the company plans to target extensions of historically mined vein material from existing underground workings, in order to lessen the drilling distance needed to intercept those targets and thereby reduce drilling costs.

Dan Oliver, Director, stated: “Despite ongoing coronavirus considerations, this is an exciting time for the Company. We are working diligently at re-establishing the El Pinguico mine to its past glory.”

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 $0.05.

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