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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 pleasant Wake-up call for VGLD shareholders

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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VANGOLD TO PURCHASE UNDERGROUND DRILL RIG

2020-09-24 16:21 ET - News Release

Mr. James Anderson reports

Vangold Mining Corp. has purchased an underground drill for use on its El Pinguico silver/gold project, located seven kilometres south of Guanajuato, Mexico.

Purchase of underground drill rig

After examining numerous alternatives, the company has ordered an Explorer 75E core drill rig from Grupo Ingetrol SA de CV of Torreon, Mexico. Among other desirable attributes, this drill is small enough to fit into many of the adits, drifts and galleries of El Pinguico's old workings, while still being able to target the broad strike length of potential new in situ material of the main El Carmen/El Pinguico vein system. The machine is rated capable for drilling 200 metres of HQ-size core, or 430 metres of NQ-size core. Therefore, the company has also ordered 200 m and 430 m, respectively, of the corresponding drill casing in order to have the capability of drilling holes to those lengths.

Vangold expects to receive delivery of the drill within 60 days and that drilling will commence toward the end of November, 2020. Though the rig can also drill from surface, the company will focus drilling initially from underground into the Don Ricardo target area from crosscuts off of the No. 4 adit level.

Clearing of the El Pinguico shaft

The company is currently focused on clearing 30 m of material blocking access from the El Pinguico shaft to the No. 7 adit level. The company plans to sample the bottom of its underground stockpile once access is achieved. On Sept. 19, 2020, the company's winch system failed to operate properly due to a worn drive shaft. Replacement parts have been ordered and are due to arrive in Guanajuato on Sept. 28. Because of this and additional brief delays, the company estimates that it is 16 days behind schedule in its plans to remove material from the El Pinguico shaft.

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NIce Rally today:  Up 23.8% to $0.26 on 1.5 Million shares... so far. 

On BONANZA GRADE: sampling results !

VGLD: 10d

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2020-10-07 06:13 C:VGLD 0.21 News Release Vangold samples 55 m of 536.8 g/t AgEq at El Pinguico

VANGOLD ASSAYS 536.8 GPT AGEQ OR 6.71 GPT AUEQ OVER 55M OF VERTICAL EXTENT, DRILLING TO COMMENCE IN NOVEMBER

Vangold Mining Corp. has released assays from channel sampling of an underground vein exposure encountered at its El Pinguico silver and gold project, located seven kilometres south of Guanajuato, Mexico.

Sampling of exposed underground vein

The company reports assays of channel samples taken from safely accessible pillars and stope walls within an ore shoot of the El Pinguico vein system between the fourth and sixth levels (from approximately 130 m to 185 m below surface), covering an area approximately 55 metres in height by 60 metres in width, and where the stoped out area, plus remaining vein material, ranges from 1.5 metres to 5.5 metres wide. This exposure is adjacent to the El Pinguico shaft where crews continue to remove material blocking access to the No. 7 adit level.


Sample No.            Sample length       Gold       Silver      AuEq*       AgEq*
                                         (g/t)        (g/t)      (g/t)       (g/t)

Q96141                        1.6 m       1.72        629.6       9.59       767.2
Q96230                        1.8 m       0.80        273.7       4.22       337.7
Q96231                        1.3 m       0.84        146.3       2.67       213.3
Q96232                        1.3 m       4.00        403.6       9.05       723.6
Q96233                        0.9 m       3.22        480.5       9.23       738.1
Q96235                        1.0 m       1.68        280.0       5.18       414.4
Q96236                        1.0 m       4.11        430.7       9.49       759.5
Q96237                        1.2 m       2.15        304.0       5.95       476.0
Q96238                        1.6 m       0.80        157.0       2.77       221.3
Q96239                        1.2 m       4.59        465.9      10.41       833.1
Q96240                        0.4 m       2.43        599.4       9.92       793.8
Weighted
average grades                            2.50        363.0       6.71       536.8

* Gold equivalent and silver equivalent numbers are calculated at 80:1 silver 
to gold price ratio.                                                                       

This underground vein material was not extracted when the mine was operational from the late 1890s until 1913, despite it being immediately adjacent to the El Pinguico shaft, presumably because the material would not have exceeded the mine's extraordinary cut-off grade at that time of approximately 15 grams of gold equivalent per tonne. The results of this sampling have given the company added confidence that significant amounts of good grade material, left when mining ceased over a century ago, remain to be identified within and adjacent to the El Pinguico historic workings.

Said Vangold Mining director William Gehlen, geologist and epithermal system expert: "There are a lot of things to like about these results, and chief among them is the uniformity of good grades from what was historically considered waste rock. Historical geologic reports that discuss the El Pinguico vein system comment on the consistency of high-grade distribution within the veins. If Vangold continues to find these sorts of grades in the wall rocks left behind by previous mining, the residual material could represent a significant resource and the potential to find additional and wider vein zones of potentially economic grades in unexplored parts of the system seems possible."

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GROWTH thru Acquisition : Gold & Silver prices already jumped

Vangold to buy El Cubo from Endeavour for $15M (U.S.)

2020-12-18 19:34 ET - News Release

Mr. James Anderson reports

VANGOLD TO ACQUIRE EL CUBO MINE & MILL FROM ENDEAVOUR SILVER CORP

Vangold Mining Corp. has signed a binding letter agreement with Endeavour Silver Corp. to acquire the El Cubo mine and mill complex located eight kilometres by road northeast of the company's El Pinguico silver-gold project near the city of Guanajuato, Mexico.

El Cubo complex

The company has signed a binding letter agreement with Endeavour to acquire the El Cubo mine and mill complex. With a rated capacity of 1,500 tonnes per day, the El Cubo complex included two operating underground silver-gold mines and a flotation plant, employed over 350 people, and engaged over 200 contractors until Endeavour suspended operations at the end of November, 2019. For the year ended Dec. 31, 2018, Endeavour produced a total of 4,578,940 silver equivalent (AgEq) ounces at the El Cubo complex at an all-in sustaining cost (AISC) per ounce of $8.86 (U.S.) (2019: 1,923,944 AgEq ounces at an AISC of $14.85 (U.S.)) (i).

Currently, the El Cubo mine, plant and tailings facilities are on short-term care and maintenance, and Vangold intends to restart the mill at approximately 750 tonnes per day, using mineralized material from its surface and underground stockpiles at its El Pinguico project as a significant portion of its estimated throughput for the first 36 months of operation.

Vangold director Daniel J. Oliver said: "This is a transformational acquisition for Vangold Mining. Our preliminary internal financial model shows a swift path to restarting production, a favourable payback period and robust cash flows with silver at $23 (U.S.) and gold at $1,850 (U.S.)."

As part of the El Cubo complex, Vangold will acquire the El Cubo mine, including remaining historical resources, the El Cubo mill (also known as the El Tajo mill), and approximately 7,000 hectares of prospective mining concessions located adjacent to the El Cubo mill and within the greater Guanajuato mine region. The Endeavour agreement remains subject to acceptance of the TSX Venture Exchange.

> More History, figures: https://www.stockwatch.com/News/Item?bid=Z-C:VGLD-3008259&symbol=VGLD&region=C

Mining history of El Cubo complex

Mining on the El Cubo complex has occurred since the 17th century. The Sierra structure, which includes the El Cubo mine and the adjacent Peregrina mine, accounts for much of the gold and silver produced in the Guanajuato district -- on the order of two million ounces of gold and 80 million ounces of silver (ii). Gold was originally mined from shallow pits near the San Eusebio vein, one of those on the El Cubo concessions which later produced significant amounts of gold and silver. In the 19th and 20th centuries, mining at El Cubo focused on northwest-striking veins known as the Villalpando, Dolores, La Loca and La Fortuna, and production was divided between many operators. At the time, significant grades and widths were encountered on the Villalpando vein, including shoots up to four metres wide, and intercepts, which assayed close to one kilogram of silver per tonne (source: National Instrument 43-101 technical report prepared for Endeavour Silver by Hard Rock Consulting LLC, of Lakewood, Colo., amended March, 2018).

As reported by Endeavour on Jan. 29, 2020 (iii), as at Dec. 31, 2019, the El Cubo complex contained silver-gold resources.

                                EL CUBO COMPLEX SILVER-GOLD RESOURCES

Resource           Tonnes         Ag g/t         Au g/t          Ag oz          Au oz        AgEq oz

Measured           19,000            224           1.89        140,000          1,200        236,000
Indicated          32,000            209           2.03        214,000          2,100        382,000
Inferred          463,000            163           1.89      2,419,000         28,200      4,675,000

Vangold is not treating these estimates as current mineral resources as a qualified person on behalf of Vangold has not done sufficient work (iv) to classify these estimates as current resources (v).

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Resources: AG oz. : AU oz.
Measured :   140k :    1.2k  :
Indicated  :   214k :    2.1 k :
Meas. +I.  :   354k :   3.3 k :
 x Price.    :   $ 26. : $1900 :
 = Value.  : $ 9.2M: $ 6.3M = $15.5M: Cost $15M + 3M contingent
Inferred.   :  2,419k:   28.2k :
M +I + I.   = 2,773k: =31.5k :
 = Value.  : $72.1M: $59.9M= $132.M:

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VGLD - Vangold arranges $7.5-million placement
[2020-12-23 06:36]
Vangold Mining Corp. has arranged a $7.5-million private placement of up to 25 million 30-cent units.

Further to the company's proposed acquisition of the El Cubo mine and mill complex in the Guanajuato mine region of Mexico announced Dec. 18, 2020, Vangold Mining Corp. has arranged a part-and-parcel non-brokered private placement financing of up to 25 million units at a price of 30 cents per unit for gross proceeds of approximately $7.5-million. Each Unit will consist of one common share of the Company and one half (1/2) of a common share purchase warrant (each whole warrant a "Warrant"); with each Warrant entitling the holder to purchase one common share of the Company at a price of C$0.45 within three years of closing, subject to acceleration in certain events.

The net proceeds from the Financing will be used to, among other things, refurbish the El Cubo mill for operation and further delineate and develop the historic resources identified by Endeavour Silver Corp. while operating the El Cubo mine. The proceeds will also be used to re-establish the underground workings of the Company's El Pinguico silver and gold project in Guanajuato, Mexico, especially adit Level 7. This adit in particular will be used to access and to provide a safe haulage-way for the delivery of mineralized material from the Company's underground stockpile for processing at the El Cubo mill - just 8km away by well-maintained gravel road. A portion of the proceeds will also be used for general corporate and working capital purposes.

more...

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Trading in this stock's been halted at the issuer's request "pending information".

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Has to do with the acquisition.... and the placement

Bids & Offers suggest a higher opening...

493.5 0.35 H 0.35 428.5

==> https://www.stockwatch.com/Quote/Detail?C:VGLD

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She likes Vangold - and says why about 12 minutes in

The 2021 VRIC Day 3: Mining Investing, Silver stocks, Gold stocks, Copper stocks & Uranium stocks

https://www.youtube.com/watch?v=Q6DNpVGus3A

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Staying Strong, if VGLD moves above 50 cents, it could make a push towards $1.00+

VGLD / Vangold ... from 2013: 2016; : last $0.49 + 0.055

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==

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Eric Sprott becomes new shareholder of VanGold

gold-flakes.png(Kitco News) - VanGold Mining (TSXV:VGLD) announced today it has closed its non-brokered private placement of units at a price of $0.30 per unit announced December 23, 2020 and expanded on January 19, 2021, January 25, 2021, and February 17, 2021.

The company has issued a total of 56,500,000 units for gross proceeds of $16,950,000 with each unit consisting of one common share of the company and one half (1/2) of a common share purchase warrant.

VanGold acknowledged the investment and backing of Endeavour Silver, VBS Exchange, and renowned precious metals investor Eric Sprott.

> https://www.kitco.com/news/2021-03-10/Eric-Sprott-becomes-new-shareholder-of-VanGold.html

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Endeavour Silver to sell El Cubo mine to VanGold Mining(Kitco News) - Endeavour Silver (TSX: EDR, NYSE: EXK) announced Wednesday that it has signed a definitive agreement to sell the El Cubo mine in Guanajuato, Mexico, to VanGold Mining for $15 million in cash and share payments plus up to $3 million in contingent payments.

According to the statement, VanGold will pay $15,000,000 to Endeavour as follows: a non-refundable down-payment of $500,000 cash (received); $7.0 million cash payment on closing, anticipated by the end of March 2021; $5.0 million in VanGold common shares on closing, priced at $0.2344 (CAD$0.30) per share for a total of 21,331,058 VanGold shares representing approximately 11.3% of the issued shares; $2.5 million promissory note due 12 months from the closing date.

VanGold has also agreed to pay Endeavour up to an additional $3.0 million in contingent payments based on the following: $1.0 million upon VanGold producing 3,000,000 silver equivalent ounces at El Cubo mill, derived from either the El Cubo or El Pinguico project; $1.0 million if the price of gold closes at or above $2,000 per ounce for 20 consecutive days within two years after closing;
$1.0 million if the price of gold closes at or above $2,200 per ounce for 20 consecutive days within three years after closing.

Endeavour also announced its common shares will be added to the S&P/TSX Composite and the NYSE Arca Gold Miners (GDX ETF) Indices effective after market close on Friday March 19, 2021, as per their respective Q1, 2021 rebalances, as announced on Friday March 12, 2021.

CEO Bradford Cooke commented, "Inclusion in these two major indices is a great milestone for the company, validating our recent success and providing greater visibility to investors. Constituents of these indices receive both an increase in the company profile and inclusion in mutual and pension funds that use these indices as benchmarks."

Endeavour Silver is a mid-tier precious metals mining company that owns and operates three high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer

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VGLD chart... 6mo: 10d/ Last: $0.64

nDJSigT.gif

===

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