Vangold Mining Concludes Phase 1 Drilling at El Pinguico to Focus on Phase 2 drilling In-Situ El Pinguico Vein
Vangold Mining Concludes Phase 1 Drilling at El Pinguico to Focus
on Phase 2 drilling In-Situ El Pinguico Vein
Vancouver, BC, March 5, 2018, Vangold Mining Corp. ("Vangold" or the "Company")
(TSXV:VAN)(OTC:VGLDF)(FR:E35B) updates Phase 1 drilling underground stockpile initiated
on January 18, 2018.
On February 25, 2018, the Company completed the fifth of the 15 proposed drill holes of the
Phase 1 drill program, targeting a broad sampling of existing broken material located in the
mined stopes of the El Pinguico property. The core samples from the drill holes were assayed at
Platinum Corp. lab complying to International Standards ISO 9001:2000 and ISO 17025:2005,
located in Guanajuato, Mexico.
After completing the fifth drill hol e, the Company suspended the drill program due to
inconsistent core recoveries and assays received that were less than satisfactory when
compared to the February 2017 trenching samples and various grab samples retrieved from the
underground stockpile. Recovery loss was potentially due to numerous voids within the
stockpile, and the inherently difficult nature of core drilling into unconsolidated material and
open mine workings.
Kristopher J. Raffle, P.Geo. (BC), Principal and consultant of APEX Geoscience Ltd. (APEX)
commented, “The Company is currently reviewing the recently received El Pinguico
underground stockpile drilling assay results, and the effect that relatively inconsistent
recoveries, and loss of fine materi al may have on sample grades; and ultimately our
assessment of the representivity of sampled material in comparison to the in -situ stockpile.
Once the comprehensive review has been completed, the Company will provide a full report.”
Cameron King, President and CEO quotes, “The drilling of the stockpiled material was
implemented to prove the ultimate value of previously mined material during the mine’s life from
1908 to 1913. Early in the Phase 1 program, it became clear that the inconsistent recoveries
would not provide a minimum of samples required to provide value to the 500,000 mt stockpile
for the purposes of a resource calculation and PEA economics. Whereas, drilling in-situ veins,
the recovery of the core can be logged consistently. T herefore, the Company will not be
proceeding with its initial plans of providing a preliminary economic assessment on the surface
and underground stockpiles until it can determine a more efficient method of realizing qualified
results for the purposes of meeting NI 43-101 compliant resource analysis.”
As stated in the January 09, 2018, news release, the Company will be implementing the Phase
2 drill program targeting the lower El Pinguico vein extension located below the old mine
workings 300m below surface. Drilling will continue from underground at approx imately 90 m
below surface in the Carmen drifts. On March 1, 2018, the drill rig was mobilized from the
Pachua drift into the Carmen adit, with drilling set to resume following completion of Carmen
2
Mine 3D modelling and selection of final drill locations. The Phase 2 drill program encompasses
drilling into the lower extension of the El Pinguico vein and underneath the old workings of the
El Carmen and El Pinguico mines..
About Vangold Mining Corp.
Vangold is a development-stage silver and gold company with nine mining concessions in the
Guanajuato, Mexico Mining District. Vangold is aggressively pursuing its production plans by
bringing the historic El Pinguico mine back online. Having an acquisition focus, targeting
advanced mineral properties and the pursuit of near production opportunities will continue to
fuel our growth.
Qualified Person
Kristopher J. Raffle P.Geo. (BC), Principal of APEX Geoscience Ltd. and consultant of Vangold
Mining Corp., is a qualified person for the project as defined by National Instrument 43-101. Mr.
Raffle has reviewed the technical content of this news release as it relates to the El Pinguico
Property.
ON BEHALF OF THE BOARD OF DIRECTORS
“Cameron S. King”
President, CEO and Director
For further information contact:
O: + 1-778-945-2940
M: +1 604 499 6545
Further information is available on Vangold Mining’s website at: www.vangoldmining.com.
Cautionary Statement Regarding Forward Looking Information
This News Release may contain, in addition to historical information, forward-‐looking statements. These forward-‐looking statements are
identified by their use of terms and phases such as “believe,” “expect,” “plan,” “anticipate” and similar expres sions identifying forward-‐looking
statements. Investors should not rely on forward-‐looking statements because they are subject to a variety of risks, uncertainties and other
factors that could cause actual results to differ materially from Vangold's expect ations, and expressly does not undertake any duty to update
forward-‐looking statements. These factors include, but are not limited to the following, limited operating history, proposed explorat ion and/or
drill programs and other factors which may cause the actual results, performance or achievements of Vangold to be materially different from
any future results, performance or achievements expressed or implied by such forward-‐looking statements.
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