Vangold renews Mt Penck licence

VANGOLD Resources has been granted a two-year extension for its Mount Penck project tenement on New Britain Island, exploration licence 1322, by the Papua New Guinean government.
Vangold renews Mt Penck licence Vangold renews Mt Penck licence Vangold renews Mt Penck licence Vangold renews Mt Penck licence Vangold renews Mt Penck licence

The renewal is effective up to April 30, 2013.

The project is located on the northwesterly trending Kulu-Simi corridor where Coppermoly and Barrick Gold have projects.

Previous drilling results at Mt Penck include an intersection of 131m at 2.36 grams per tonne gold, a 133m intersection grading 1.83gpt gold and a 72m intersection at 1.79gpt gold.

Vangold has a stake of Coppermoly, possibly indicating there are opportunities for wider collaboration in the region.

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