VanGold Mining Continues Exploration of El Pinguico Shaft Engages Alegre Resources to assist in Drill Hole Selection
VanGold Mining Continues Exploration of El Pinguico Shaft
Engages Alegre Resources to assist in Drill Hole Selection
VANCOUVER, BC / ACCESSWIRE / August 19, 2020 / VanGold Mining Corp (the
"Company" or "VanGold") (TSXV:VGLD) is continuing its summer exploration program of
the El Pinguico silver and gold project located 7km south of Guanajuato, Mexico by re-entering
the El Pinguico shaft. The Company has also engaged the geological consulting services of
Alegre Resources Corp. to assist in computer modeling of the El Pinguico vein systems, and to
generate drill targets for its autumn drill program.
El Pinguico Shaft:
Company crews have now entered the El Pinguico shaft and have safely accessed the #6 adit
level. We believe that this is the first time that the #6 level has been accessed in this location
since the mine was closed in 1913. In the days ahead, crews intend to clean and refurbish the 5th
and 6th adit levels before attempting to reach our goal of accessing the 7th (or Sangria) adit level.
From the Sangria level, we anticipate being able to sample the bottom of the underground
stockpile (which crews are also able to view from the 6th level), as well as in-situ vein material. It
is anticipated that a large section of exposed vein material at the 6th level, unknown prior to this
work, will be among the areas sampled by channel sampling.
The shaft entrance and surrounding area have been cleaned and prepared ahead of the installation
of a one tonne hoist onto our metal headframe, and the installation of a large winch which was
accomplished last week. A diesel generator is scheduled to arrive today, which will power the
winch, and crews can begin removing debris material from the bottom of the shaft. A protective
cage has also been constructed, which will allow crews to operate safely while work is done on
the hoist and headframe approximately 150m directly above.
Geological work:
Geological crews are expected to arrive on Monday, August 24th to begin a series of exploration
initiatives which will support drill hole targeting. Both underground and surface structural
mapping will be undertaken on a 1:1000 scale. This will allow interpretation of fault structures
within the deposit and establish a greater understanding of how these fault structures may have
displaced vein material. Crews will also begin systematically sampling exposures of vein
material within the mine's old workings, and later begin a trenching campaign to target vein
material immediately south of the main El Pinguico mine area. All of this work is in preparation
for underground drilling anticipated to commence in mid-autumn.
Alegre Resources Corp:
VanGold has engaged the services of geological consulting firm Alegre Resources Corp. Based
in Vancouver, Canada, Alegre has earned a reputation for innovative, practical and cost effect
approaches to exploration. Alegre has developed programs in many countries, and with a focus
on precious metals in Latin America. VanGold Mining Corp. director and geologist Bill Gehlen
said, "We are delighted to have the team at Alegre involved in target recognition and target
generation for this project. There is ample old data from El Pinguico to synthesize, and create
drill targets, however there is no historic drill-hole data base to start from. We therefore want to
take the time and do the work necessary to ensure a strong start to our drilling when it
commences."
Covid-19 Delays:
It should be noted that the above-mentioned work is now advancing on time, and at planned pace
and budget, after several short Covid-19 related delays. In May and June, when the Company
undertook to send a 1,039 tonne bulk sample to Endeavour Silver's Bolanitos mill, we were able
to accomplish that work with little or no disruption regarding Covid-19 protocols. Recently,
during the commencement of underground work related to reopening the El Pinguico shaft, the
Company has experienced occasional short delays due to the practicing of Covid-19 related
procedures. We view these delays as acceptable under the circumstances. VanGold will not put
any of its employees or contractors in unnecessary jeopardy; and all reasonable precautions
related to the spread of the virus continue to be adhered to.
The El Pinguico Project:
El Pinguico is a high-grade gold and silver deposit that was mined from the early 1890s until
1913. Toward the end of that period it was mined exclusively by The Pinguico Mines Company
of New York City, whose shares traded on the Boston and New York Stock Exchanges. The
mining was done principally 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, a director of VanGold and a qualified person as defined by National
Instrument 43-101, Standards of Disclosure for Mineral Projects, has approved the scientific and
technical information contained in this news release.
About VanGold Mining Corp.
VanGold Mining is an exploration and development company engaged in reactivating high-grade
past producing silver and gold mines near the city of Guanajuato, Mexico. The Company's El
Pinguico project is a significant past producer of both silver and gold located just 7km south of
the city. The Company remains focused on the near-term potential for development and
monetization of its surface and underground stockpiles of mineralized material at El Pinguico,
and in delineating silver and gold resources through underground and surface drilling on projects
located in this historic mining camp.
ON BEHALF OF THE BOARD OF DIRECTORS
"James Anderson"
Chairman and CEO
For further information regarding VanGold Mining Corp, please contact:
James Anderson, Director, +1 (778) 989-5346
Email: [email protected]
Continue to watch our progress at: www.vangoldmining.com
This new release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state
securities laws and may not be offered or sold within the United States or to or for the account or
benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless
registered under the U.S. Securities Act and applicable state securities laws or an exemption
from such registration is available.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or
future performance (including, but not limited to, the actual size, timing and use of proceeds of
the Financing, the proposed work program at the Company's El Pinquico project in Mexico, and
the potential for near term monetization of existing stockpiles of mineralized material at El
Pinguico) and reflect management's current expectations and assumptions. Such forward-
looking statements reflect management's current beliefs and are based on assumptions made by
and information currently available to the Company. Readers are cautioned that these forward-
looking statements are neither promises nor guarantees, and are subject to risks and
uncertainties that may cause future results to differ materially from those expected including, but
not limited to, market conditions, availability of financing, currency rate fluctuations, actual
results of exploration and development activities, environmental risks, future prices of gold,
silver and other metals, operating risks, accidents, labor issues, delays in obtaining
governmental or regulatory approvals and permits, and other risks in the mining industry. In
addition, there is uncertainty about the spread of COVID-19 and the impact it will have on the
Company's operations, supply chains, ability to access El Pinguico or procure equipment,
contractors and other personnel on a timely basis or at all and economic activity in general. All
the forward-looking statements made in this news release are qualified by these cautionary
statements and those in our continuous disclosure filings available on SEDAR at
www.sedar.com. These forward-looking statements are made as of the date hereof and the
Company does not assume any obligation to update or revise them to reflect new events or
circumstances save as required by law.
VANGOLD MINING CORP.
PH: +1(778) 989-5346 E: [email protected] W: vangoldmining.com
CA: Suite 2820 - 200 Granville Street, Vancouver B.C. V6C 1S4
MX: Carretera - Guanajuato - Silao km 5.5, Int 4, Col. Marfil CP36250, Guanajuato, Gto.,
Mexico
SOURCE: Vangold Mining Corp.