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Vector Resources Ltd.
Summary
| Project: | Adidi-Kanga | |
|---|---|---|
| Deposit: | Adidi-Kanga | |
| Location: | Congo | |
| Commodities: | Gold | |
| Date: | 3/12/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 12-3-2019: Vector Resources Ltd. announces a Resource Estimation report for its Adidi-Kanga deposit at the Adidi-Kanga project. Exploration target defined for Adidi-Kanga. Gold exploration and development company Vector Resources Limited (ASX: VEC) is ple | |
| Resources: | Exploration Target: 102Mt - 117Mt @ 3.8g/t Au - 6.7g/t Au | |
| CP/QP: | [Resources]: Peter Stockman (Stockman Geological Solutions Pty Ltd.) | |
| ABSTRACT: | Gold exploration and development company Vector Resources Limited (ASX: VEC) is pleased to announce results from the review of historical exploration and mining data acquired in the recent acquisition of the Adidi-Kanga Gold Project (“Adidi-Kanga”), located in the Ituri Province of Democratic Republic of Congo (“DRC”) (ASX Announcement 7 March 2019). The review has defined a significant new zone of gold mineralisation, comprising 13 exploration targets that are conceptual in nature. These targets have a size range from 102Mt @ 3.8g/t Au for 12.5Moz to 117Mt @ 6.7g/t Au for a combined 25.2Moz (“Exploration Target”). This Exploration Target adds to the existing Adidi-Kanga Mineral Resource of 15.0 Mt at 6.6g/t gold for 3.2Moz, which includes 46% in Indicated Category for 6.9MT @6.74g/t Au for 1.5Moz and 8.1Mt @ 6.6g/t Au for 1.7Moz in the Inferred Category (ASX Announcement 5 February 2018). Commenting on the Adidi-Kanga Exploration Target, Vector Resources CEO, Simon Youds said: “This new Exploration Target clearly points to the fact that Vector is sitting on a huge mineralised system within PE5105 that will eclipse the current 3.2Moz Adidi-Kanga deposit. “The historical work completed by AngloGold was very thorough and has enabled our technical team to define this new zone of gold mineralisation that is showing all the early indications of hosting further high-grade mineralisation. We expect to unlock considerable value for Vector’s shareholders from the US$520m AngloGold diligently invested in this area. “Although Adidi-Kanga is certainly the jewel in the crown in terms of near-term development, this review illustrates that the exploration upside within the broader PE5105 concession is very compelling. “With key technical staff now on board, our focus turns to rolling out our aggressive development strategy at Adidi-Kanga. We will be running the respective DFS and exploration programs side-by-side over the coming months and will surely give shareholders updates at regular intervals.” | |
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