More drilling required: Vangold

VANGOLD Resources is planning to embark upon further diamond core drilling at its Fergusson Island gold project in Papua New Guinea. Recent assay results include a best intersection of 15 metres at 0.47 grams per tonne gold from a depth of 10m.
More drilling required: Vangold More drilling required: Vangold More drilling required: Vangold More drilling required: Vangold More drilling required: Vangold

Out of the five holes completed at its "gold nugget zone" of the project, the best intersection was 15m at 0.45 gpt gold starting from the surface.

Three holes were drilled at the Igwageta zone of the project. Outside of the best intersection yielding 0.47gpt gold, there was also a 15m intersection grading 0.4gpt gold starting from a depth of 2m.

The drilling targets were based on a 3D ground geophysical induced polarisation and resistivity survey conducted early this year.

While Vangold's holes were located within less than 40m from strong hits in historical holes, such as a 12m intersection grading 5.84gpt gold, the explorer will do more follow up drilling.

"Further drilling is warranted to define an inferred resource at Igwageta as well as identify additional resource potential in other identified nearby vein targets," Vangold chief executive Dal Brynelsen said.

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