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VGLD / Vangold: High Grade Mexican Gold & Silver

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VGLD / Vangold: High Grade Mexican Gold & Silver

They are reviving an old project, in a rich area

After years ... a Wake-up in VGLD

El Pinguico is a high-grade gold and silver deposit that was mined from the early 1890s until 1913

VGLD/ Vangold ... Update: 10d : stock up, after a 10 cents CROSS trade

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In Edit, at 9.17.2020... VGLD ... back to 2015 - touched $0.205 today

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Vangold Mining (TSX-V:VGLD).

Vangold has an impressive management team including CEO James Anderson and Director Dan Oliver of Myrmikan Capital. This is a team committed to creating shareholder value and doing it the right way. Already, Vangold has taken a 1,000 tonne bulk sample from its flagship El Pinguico Gold & Silver Project near the city of Guanajuato, Mexico and shipped it to Endeavour Silvers Bolanitos Mill which is less than 30 kilometers away. The idea is to monetize existing ore stockpiles at Vangolds El Pinguico Project. El Pinguico is a high-grade gold and silver deposit that was mined from the early 1890s until 1913. The mining was done exclusively 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 kilometers, and is the most important source of precious metal mineralization in the region. The Veta Madre may cross VanGolds property at depth, underneath the high grade El Pinguico and El Carmen veins. Its important to note that limited drilling has been done on the property and no drilling has attempted to encounter the Veta Madre at depth. Historic stockpiles of mineralized material exist on surface and underground at El Pinguico, which may potentially provide feed to one of several operational mills in the Guanajuato area. It is these stockpiles that Vangold is aiming to rapidly monetize, and subsequently use some of the proceeds to fund deeper exploration drilling at El Pinguico with an objective of intersecting the Veta Madre at depth. Vangold has only 60 million shares outstanding, however, there are 26 million warrants with a C$.10 exercise price creating a bit of a warrant overhang in the stock. Management assures me they are working on a plan to lift this warrant overhang, bringing C$2.6 million into the companys treasury in the process. I expect that a significant portion of warrant holders will exercise their warrants and hold the shares as a vote of confidence in management and the companys vision, I expect this process to play out over the next 2-3 weeks, and once it is completed, Vangold shares could move substantially higher.

(Disclosure: Author is long BYN.V and VGLD.V shares at the time of publishing and may choose to buy or sell at any time without notice.)

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GOOD NEWS on the Bulk Sample from VGLD.v > https://www.stockwatch.com/Quote/Detail?C:VGLD

VGLD.v / Vangold ... update: 10d / $0.13

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Closed at 13 cents, that's up 2 cents, +18%. And +30% since original purchase about one week ago.

5.47million shares traded yesterday.

==

Vangold returns 75.18% Au recovery from Pinguico sample

EXCERPT / The material used for this test came exclusively from the company's surface stockpile of waste material, which was left behind when mining ceased at El Pinguico in 1913. The material has been exposed to the elements since that time and was therefore somewhat oxidized. Despite this, recoveries of gold and silver were very good, and may point to better recoveries in the future from less oxidized material located within the mine itself.
Average recoveries:

* Gold: 75.18 per cent;
* Silver: 60.36 per cent.

… After separating and storing a small amount of the concentrate, which the company will have on hand to conduct future analytical tests, the final product consisted of 4.265 dry tonnes averaging 132.0 grams per tonne gold and 6,661 g/t silver. Total recoveries from the final product credited to the company by Endeavour were 18 ounces of gold and 913 ounces of silver.
Head grade
Vangold's surface stockpile contains an exploration target of 175,000 to 185,000 tonnes grading 1.25 to 1.35 g/t gold equivalent. These figures are conceptual in nature.

> https://www.stockwatch.com/News/Item?bid=Z-C%3aVGLD-2918512&symbol=VGLD&region=C

(Back of envelope calculations):

“4.265 dry tonnes averaging 132.0 grams per tonne gold and 6,661 g/t silver”
Following is how I plug in the numbers

===== Grade: x4.265: Recov: Grams : Oz.s - : Value : $-Amt. :
Gold. : 132. g : 563.0g: 75.2% : 423.g : 18.0oz: $1700.: $ 30.6k :
Silver: 6661g : 28.4kg: 60.4% : 17.2kg: 913.oz: $17.50: $ 16.0k:
===== ————————————————————— :                $ 46.6k :

Note: 180,000t x 1.3g = 234k gm= 7,520oz x 0.75 x$1700= $9.6 Million recoverable?

MktCap: $0.13 x 60.1M shs = $7.8 Million Mkt Cap
There is more to find, beyond the stockpiles
If VGLD pauses at $10M mktcap, that would be: $0.166

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Update: 15.5 Cent placement sees good demand

VGLD ... chart : 10d / Last: 0.165 - 0.005, YrH: 0.19

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Date ET Symbol Price Type Headline
2020-07-22 06:10 C:VGLD 0.185 News Release Vangold Mining increases placement to $3.79-million
2020-07-21 06:46 C:VGLD 0.165 News Release Vangold arranges $2.45-million placement
2020-07-02 06:39 C:VGLD 0.125 News Release Vangold closes warrant acceleration program

VANGOLD MINING CORP. INCREASES PRIVATE PLACEMENT

Due to increased demand, Vangold Mining Corp. has expanded the size of its non-brokered private placement financing announced July 21, 2020. The financing will now consist of a total of 24.5 million units at a price of 15.5 cents per unit for gross proceeds of $3,797,500. Each unit will consist of one common share of the company and one-half of a common share purchase warrant, with each warrant entitling the holder to purchase an additional common share of the company at a price of 25 cents within two years of closing, subject to acceleration in certain events. All other terms of the financing as announced on July 21, 2020, remain the same.

About Vangold Mining Corp.

Vangold Mining is an exploration company engaged in the exploration of mineral projects in the Guanajuato region of central Mexico. The company's flagship El Pinguico project is a significant past producer of high-grade gold and silver and is located just seven kilometres south of the city of Guanajuato, Mexico. The company remains focused on the near-term potential for development and monetization of both its surface and underground stockpiles of mineralized material from El Pinguico.

 

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Vangold samples 40 m of El Pinguico shaft vein

2020-09-16- News Release / Mr. James Anderson reports

VANGOLD MINING PROVIDES EXPLORATION UPDATE

Vangold Mining Corp. is providing an update on progress from its continuing exploration of the El Pinguico silver and gold project located seven kilometres south of Guanajuato, Mexico.

El Pinguico shaft/sampling of exposed vein

The excavation of the El Pinguico shaft was paused during the week of Sept. 7 to allow crews to safely access and sample material from exposed areas of the El Pinguico vein in the vicinity of the shaft. Crews have observed and sampled approximately 40 metres of vertical extent of the vein extending from the fourth to the sixth level and in close proximity to the company's underground stockpile. This vein exposure has now been channel sampled every four m along the vertical extent of the exposure. Samples are being sent to SGS Labs in Durango, Mexico, for analysis; assay results will be released once they are received and interpreted by Vangold geologists and engineers. Excavation of the remaining material that continues to block access to level 7, where it intersects the El Pinguico shaft, will continue during the week of Sept. 21, 2020.

Clearing access of No. 7 adit portal

Access to the No. 7 adit is also blocked approximately 75 m from its portal by what the company thinks is a relatively superficial rock fall, as it occurs at a mapped fault, and at a change of rock type (andesites to rhyolites). The company is utilizing a mechanized scoop tram to aid in the removal of this material and will begin to re-enforce the back or roof of the adit with steel beams at the area of the collapse. Company director and mining engineer Hernan Dorado commented: "If this cave-in is indeed superficial in nature, and if the No. 7 adit resembles the No. 4 adit above it, we may be able to access approximately 1.2 km of open adit all the way to the intersection of the No. 7 adit and the El Pinguico shaft. Accessing this level will also allow greater flexibility in choosing drill targets in the months ahead and would open potential alternatives for the future extraction of the underground stockpile."

Additional geological tasks

Crews have undertaken several other tasks to explore the property and to prepare for underground and surface drilling planned for later in the season. These tasks include:

  1. Generating a 3-D model of the underground workings...
  2. Sampling of No. 4 adit...
  3. Trenching of additional adits...

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; its 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 megafault that outcrops for 25 kilometres and is the most important source of precious metal mineralization in the region. Current geologic interpretation, based on regional mapping and projections from the Veta Madre developed at adjacent historic mine operations, suggests that the Veta Madre vein system 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 yet attempted to encounter the Veta Madre at depth. The intersection of these major vein structures are excellent exploration targets and may result in zones of significant size and grades.

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.

Underground stockpile

The underground (UG) stockpile consists of material that in 2012 the Mexican Geological Survey agency determined to be 148,966 tonnes in size. In 2017, Vangold conducted a trenching program at the top of the UG stockpile. This program resulted in a weighted average of all of the trench samples of 1.75 g/t Au and 183 g/t silver.

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 seven km 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.

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