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[b]VANGOLD
RESOURCES ANNOUNCES KAFUNJO PROJECT [/b]
[b]STILL
VERY MUCH ALIVE[/b]
[b]February 12, 2009 – [/b]Vangold Resources Ltd. (“Vangold”) is pleased to present an update on their wholly owned Kafunjo Project, located in the Ntungamo District of Uganda.
Kafunjo lies within the MesoProterozoic Kibaran Belt, a tightly folded metasedimentary package, which trends from Tanzania and arcs into the southwest of Uganda. Vangold hold three contiguous licenses in this region covering more than 300 square kilometers. Gravity and ground magnetic surveys carried out at Kafunjo in 2007-2008 verify the presence of a large conductive and dense body with coincident magnetic anomalies, buried at depth. Modeling of the data by various geophysicists has suggested the upper portion of the anomaly to be between 200m and 600m below surface. Recent aeromagnetic data flown by Fugro and presented by the Department of Geological Survey and Mines, Uganda (see Vangold’s Press Release January 8, 2009), again confirms the presence of a 4km by 1km long magnetic anomaly within Vangold’s licenses. Kafunjo’s geophysical signature resembles very closely that of Kabanga in Tanzania; a world-class ultramafic-hosted
nickel-PGM deposit located within the same Kibaran metasedimentary belt as Kafunjo, which is in a JV between Barrick and Xtrata, with Xtrata being the operator.
In 2008, Vangold drilled 2,317m of diamond drill core in the northwest of the Kafunjo anomaly, aiming for the gravity high located within the central northwest of the 4km magnetic anomaly. Drilling depths of 700m to 1000m were reached. Neither ultramafic rocks nor economic mineralization was intersected. The anomaly remained
unexplained.
After drill site remediation and careful storage of all the drill core from the two drill programs (Vangold also drilled Kafunjo in 1994 and hit a metamorphic aureole
consisting of garnets and andalusite at approximately 300m depth), for future relogging and reinterpretation, the Vangold team decided to run an MMI testline perpendicular across the southeast of the 4km long geophysical anomaly to see if it would pick up on any anomalous geochemistry.
[b][/b]
[b]The Mobile Metal Ion (MMI) Process™ is exclusively available at select SGS laboratories. MMI anomalies are sharply bounded and, in most cases, directly overlie and define the surface projection of buried primary mineralized zones.[/b]
[b][/b]
Dr. Alan Mann, founder of the MMI technology[b], took a look at the preliminary MMI data from Kafunjo and observes the following: “The Kafunjo MMI geochemistry is very interesting. The presence of high Cr and Mg is suggestive of ultramafic lithology, Cr is low where Ni is high – a possible indicator that the maximum values of nickel may be from a non-silicate (lithological) source. Cu [copper] is high and not quite coincident with Ni, suggesting if there are sulfides
there may be some zoning. Pb [lead] shows two peaks, the same may apply [zonation]”. [/b]
[b][/b]
“The MMI technology is really quite remarkable”, says Danae A. Voormeij, P.Geo and VP Exploration for Vangold. “The preliminary data set from Kafunjo presents clear and distinct peaks in geochemistry, which are indicative of a layered ultramafic intrusive buried at depth, potentially containing economic mineralization of nickel
and copper sulfides. This is particularly interesting, since rock outcrops at Kafunjo consist entirely of metasediments and metavolcanics; there are no outcrops of ultramafic bodies. This is probably why the MMI is working so well for us, as the response ratio is based on background readings, in this case the quartzite-rich Kibaran Belt”. Based on these exciting results, Vangold is initiating a programme at Kafunjo to cover the anomalous region by means of more MMI lines, with continued sample spacing of 50m and line spacing of 250m. “The idea being that we should be getting increased levels of nickel and copper and possibly platinum and palladium as we approach and cover the 4km long geophysical anomaly. MMI lines offer profile views with discrete peaks directly over top of the up dip side of the buried body; multiple MMI lines will result in an additional clear plan view of the body, providing the project with direct future drill targets”.
Dal Brynelsen, President and CEO of Vangold Resources Ltd., states “We continue to work on Kafunjo until the anomaly is explained. The preliminary MMI results have breathed new life into our Kafunjo project”.
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
[b]VANGOLD RESOURCES LTD. [/b]
[i] “Dal Brynelsen”[/i]
Dal Brynelsen, President
and CEO
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