/biz/ - Business & Finance

>>23098758

Precious Metals Spring-Loading For Next Leg Higher, VanGold Channel Samples High-Grade Gold/Silver At El Pinguico

by @Goldfinger on 7 Oct 2020, 14:23

"We received excellent news that the channel sampling of an underground vein exposure encountered at VGLD's El Pinguico silver and gold project returned an average grade of nearly 7 grams/tonne gold-equivalent.

It's important to understand that VanGold has been clearing debris from the El Pinguico Shaft in order to access the #7 adit level where the underground ore stockpile sits. The company noticed the very attractive vein material in the stope walls and decided to sample it and send it off for assays.

The results are a pleasant surprise and help to confirm that significant amounts of high-grade material, left when mining ceased over a century ago, remain to be identified within and adjacent to the El Pinguico historic workings.

Why would the old timers leave such high-grade material in exposed stope walls? Simple. In the early 1900s the cut-off grade at El Pinguico was 15 grams/tonne gold.

VanGold has purchased an underground drill rig which is expected to be delivered within six weeks and the company has already planned a drill program which will consist of approximately 14 drill holes, totalling approximately 2230m of HQ and /or NQ diamond drilling.

VanGold is one of the few junior explorers that has been left relatively unscathed from the recent sector-wide correction. This is largely due to management's strong execution and the majority of shares remaining in strong hands that are committed to seeing VanGold achieve its stated objectives which include 1) sampling and eventually processing the underground ore stockpile at El Pinguico 2) underground drilling at El Pinguico targeting the Don Ricardo, and eventually the Don Ernesto/Veta Madre Targets."

https://ceo.ca/@goldfinger/precious-metals-spring-loading-for-next-leg-higher-vangold-channel-samples-high-grade-goldsilver-at-el-pinguico