Vangold Resources announces ambitious exploration programmes
The company and its joint venture partner, New Guinea Gold Corporation have announced their plans for additional exploration on some of its key projects.
At Mt Penck 1500 metres of drilling is planned commencing in April, with results available by June. Mt Penck is an eroded strata-volcano with gold mineralization associated with an intrusive complex. More than 80 holes and 6000 metres have been completed. Mt Penck is the principal Pacific Kanon property and is in Papua New Guinea. More than 80 holes totalling 6,000m have been completed so far at Mt Penck with intervals such as 72m at 1.79g/t gold, 2m at 36.7g/t gold and 43m at 2.35g/t gold. Bulldozer trenching has yielded results such as 40m at 8.89g/t gold, 97m at 3.39g/t gold and 5m at 60g/t gold
At Allemata, up to 1000 metres of drilling is planned, beginning in April. Two gold prospects lie within this historic goldfield. To date, 17 holes totalling over 2000 meters plus 2 km of bulldozer trenches have been completed. Allemata covers two gold prospects within the historic Milne Bay Goldfield. So far 17 drill holes totalling approximately 2,000m and 2km of excavator and hand dug trenches have been completed. Drill intercepts of 7.1m at 3.4g/t gold; 20m at 2.2g/t gold; 1m at 32.2g/t gold and trench intercepts such of 4m at 18.7g/t gold; 4m at 100g/t gold; 84m at 1.7g/t gold highlight the potential of this property.
About Vangold Resources
Vangold has a diversified portfolio of sustainable global resource ventures. The company has properties in Uganda, Papua New Guinea, Kenya, Canada, Armenia and Rwanda providing exposure to both Metals and Oil 7 Gas sectors. In addition to the above two projects, Vangold is focusing its efforts on the development of key properties in Uganda where the company is one of the largest holders of concessions in the entire country.
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