Vangold Mining (TSXV: VAN; US-OTC: VGLDF) hopes to reactivate production at the historic El Pinguico gold mine, which operated more than a hundred years ago outside Guanajuato City, Mexico.
The mine – 2.5 km from
Fresnillo’s (LON: FRES) Las Torres mine and 4.5 km from
Endeavour Silver’s (TSX: EDR) El Cubo mine – produced gold and silver between 1906 and 1913, before it was shut down due to local and regional unrest during the Mexican Revolution (1910-1920).
Cameron King, a chemical engineer and former investment banker, and now president and CEO, plans to generate cash flow by processing metal from two leftover stockpiles – one at surface and the other underground – before kicking off a drill program that will look for mineralization that he says sits below the mine’s old workings and across the broader land package.
Vangold plans to produce ore from the surface stockpile from May 2018 until April 2019, and from the underground stockpile (which sits at 145 metres below surface) from February 2019 until March 2021.
Continue reading at The Northern Miner.
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