Drilling Commences at Kafunjo, Uganda
Monday June 2, 6:49 pm ET
ca.us.biz.yahoo.com
VANCOUVER, BC--(MARKET WIRE)--Jun 2, 2008 -- Vangold Resources Ltd. (CDNX:VAN.V - News) (Other OTC:VNGRF.PK - News) ("Vangold"), further to a news release of May 21, 2008 announcing the drill program, drilling commenced at the Kafunjo concession on May 25th. Mr. Locke Goldsmith, P.Eng., P.Geo., reports that as of June 1, the drilling was going well and that the first hole, logged to 288 meters, showed pyrrhotite with specks of chalcopyrite in the bedding. This is similar to rock in previous holes that were drilled in 1995. The target depth of this hole is 800 to 1000 meters. The drill program is designed to drill to the targeted depth of the anomaly between 650 to 800 meters as defined by the geophysics and gravity surveys. Work on Kafunjo is carried out under the supervision of Mr. Goldsmith a qualified person as defined by National Instrument 43-101.
Vangold is the largest concession holder in Uganda through its wholly owned subsidiary, Rwenzori Copper & Nickel Limited. Vangold previously conducted exploration programs in Uganda from 1994 to 1998 and resumed active exploration efforts in 2007. Vangold's Ugandan projects include the Kafunjo, Kilembe and West Nile properties.
The Kilembe property consists of 5 contiguous licenses that cover copper-cobalt anomalies identified by Falconbridge and are located near the past-producing copper-cobalt mine operated by Falconbridge from 1956 to 1972. Geological mapping and sampling are planned for 2008.
The West Nile properties cover known gold occurrences in the Ugandan greenstone belt directly east of the Kilo Moto goldfields in the adjacent Democratic Republic of the Congo. Anglogold Ashanti has been actively exploring the district surrounding the old Kilo mine since 2005 and Moto Goldfield's Moto Mine currently has indicated resources in excess of 10 million ounces of gold and another 11 million ounces in the inferred category. In Uganda, small scale mining of placer gold at West Nile suggests that potential exists for similar gold deposits in the geological continuity of this mineralized belt. In 2008 the Company plans to commence reconnaissance exploration on the West Nile properties in the form of geological mapping and sampling.
All technical information in this press release has been reviewed by Danae A. Voormeij, P.Geo, a qualified person as defined by National Instrument 43-101.
To find out more about Vangold Resources Ltd. please visit our website at www.vangold.ca or contact Dal Brynelsen at 604-684-1974 or by email brynelsen@vangold.ca.
On Behalf of the Board of
VANGOLD RESOURCES LTD.
"Dal Brynelsen"
Dal Brynelsen, President and CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Distributed by Filing Services Canada and retransmitted by Marketwire
Contact:
Contact:
Vangold Resources Ltd.
Suite 1730, 650 West Georgia Street
P.O. Box 11622
Vancouver, BC
V6B 4N9
Phone: (604) 684-1974
Fax: (604) 685-5970
vangold.ca
Source: Vangold Resources Ltd. |
