~ Company Hires Project Geologist ~
VanGold Mining Corp (the "Company" or "VanGold") (TSXV:VGLD) Country Manager Gerardo Dorado Cantu has been appointed President of the Guanajuato chapter of The College of Mining Engineers; VanGold also hires Gabriela Ponce as Project Geologist
VanGold Country Manager Recognized by CIMMGM:
VanGold Mining would like to acknowledge and congratulate Country Manager Gerardo Dorado Cantu for having been appointed President of the Guanajuato chapter of The College of Mining Engineers, Metallurgists and Geologists of Mexico (El Colegio de Ingenieros de Minas, Metalurgistas y Geólogos de México A.C.), or CIMMGM. The association is over 70 years old with over 100 active members.
Mr. Dorado Cantu is a mining engineer with over 40 years' experience working on numerous projects throughout Mexico. He, along with his son, VanGold director Hernan Dorado Smith - who is also a mining engineer - originally vended the El Pinguico project to VanGold. Gerardo's hard work, persistence, and dedication are responsible in large measure for VanGold's recent ability to advance the El Pinguico project as swiftly as we have.
Said Chairman and CEO James Anderson: "We are very pleased and proud that Gerardo has been recognized by his engineering peers in this way. Gerardo organizes many philanthropic and volunteer activities in the area, including and especially his work with the University of Guanajuato Mining Department alumni. This new position with the Guanajuato chapter of CIMMGM is in keeping with his desire to give something back to the local mining community."
VanGold Hires Project Geologist:
The Company is pleased to report that it has hired Gabriela Ponce as Project Geologist for the El Pinguico Project. After graduating from the University of Guanajuato in 2007, Ms. Ponce immediately established a career working in the Guanajuato area, by being employed underground at Endeavour Silver Corporation's El Cubo mine complex, located just 5km from El Pinguico, from 2009 until 2019.
Gabriela worked both within El Cubo's underground mine exploration and exploitation departments, often managing a team of up to twenty employees. Within the exploration department her duties routinely consisted of supervising all aspects of underground drilling including targeting and positioning of drill rigs, supervising the cutting and logging of core samples, and identifying alteration, rock types, mineralogy and geotechnical features. Her tasks also included QA-QC control, mapping and sampling supervision, creating and reviewing cross sections and computer modeling.
Said Country Manager Gerardo Dorado Cantu: "Gabriela's skill set and experience, in a mine located just 5km from El Pinguico, is a custom fit for VanGold as we prepare to embark on El Pinguico's maiden underground drilling campaign."
VanGold also announces that its Board of Directors has approved the issuance of 2,225,000 stock options, which form part of a total remuneration package for directors, officers, advisors, consultants, and employees of the Company, and is in accordance with the company's stock option plan. The options, which shall be vested over a one-year period, are exercisable up to three years from the issuing date and have a strike price of $0.30.
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 City, whose 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 mega fault 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, suggest 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 verified the data and approved the scientific and technical information contained in this news release.
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 7km 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.
ON BEHALF OF THE BOARD OF DIRECTORS
Chairman and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking statements, which relate to future events or future performance (including, but not limited to, the proposed work program at the Company's El Pinquico project and the potential for near term monetization of existing stockpiles of mineralized material thereon and the potential intersection at depth of the "Veta Madre" with the Company's El Pinguico and El Carmen viens) and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, currency rate fluctuations, actual results of exploration and development activities, unanticipated geological formations and characteristics, environmental risks, future prices of gold, silver and other metals, operating risks, accidents, labor issues, delays in obtaining governmental or regulatory approvals and permits, and other risks in the mining industry. In addition, there is uncertainty about the spread of COVID-19 and the impact it will have on the Company's operations, supply chains, ability to access El Pinguico or procure equipment, contractors and other personnel on a timely basis or at all and economic activity in general. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by law.
SOURCE:VanGold Mining Corp
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