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Vango secures 8.79% stake in Lodestar Minerals

Vango Mining Ltd. secured an about 8.79% stake in Lodestar Minerals Ltd. through a A$600,000 investment.

The company said Dec. 9 that it will settle its investment by issuing 3,529,411 common shares at 17 Australian cents per share.

Vango has an option to earn a 51% interest in Lodestar's Ned's Creek gold tenements in Western Australia.

The company kicked off the first phase of drilling with a 1,500-meter reverse circulation drilling program at the Contessa prospect at the Ned's Creek project.