Gold explorer Victory Goldfields is eagerly awaiting assay results from a major RC drilling campaign at its Coodardy, Emily Wells and Nemesis projects in WA. 

Recent ASX listee Victory Goldfields (ASX:1VG) has wasted little time getting the rigs turning across its portfolio around the historic Cue gold district.

The company has wrapped up 3821m of reverse circulation drilling across its tenure, sending a total of 957 4m composite assay samples to labs for testing.

A gold-in-soil geochemical sampling program was also completed looking for new targets to the north of the Emily Wells project.

Victory Goldfields executive chairman Trevor Matthews said there were positive indicators for all three projects.

“The three RC drilling programs are focussing on exciting targets from Victory’s extensive project portfolio,” he said.

“Assay samples are now with the analytical laboratory with early positive indications for all three projects.

“The Victory board and management eagerly await the results from this campaign.”

Resource the focus at Coodardy

The most expansive drilling effort came at Coodardy, which Victory has identified as an opportunity to get early runs on the board in the form of a maiden JORC-2012 compliant resource.

A total of 17 holes were drilled for 1453m at Coodardy in the recent program.

Victory is hunting confirmation of historical drilling results in the oxidised weathered profile at Coodardy of substantial width and grade.

These include 12m at 4.5g/t from just 12m deep and 14m at 4.21g/t from 14m downhole.

The drilling effort is part of a larger program to define the JORC resource, building off of non-JORC compliant historical hits.

Victory Goldfields
Historic intersections at Coodardy. Pic: Victory Goldfields

New tenements to expand Emily Wells project

Victory has received the grant of two tenements to the north of its Emily Wells project, opening new fronts for gold exploration.

An auger drilling program of 346 has already been completed on the Emily Wells North tenement to identify drill targets from gold-in-soil geochem results, extending the auger geochemistry completed on M20/360.

At Emily Wells itself, six RC holes were completed for 888m, testing the strong and continuous soil anomaly that lies adjacent to the Oxonia Pit, which has recorded shallow historical economic drilling results.

Victory Goldfields
Auger and RC drilling around Emily Wells. Pic: Victory Goldfields

Nemesis drilling intersects promising rock types 

Eight holes were drilled for 1480m at the Nemesis project.

Three of them intersected a “very altered” metasedimentary sequence containing sulphidic rich BIF (Banded Iron Formation), silicification, garnet and pyrrhotite.

They are significant findings because they are similar to the mineral assemblages at the nearby Bottle Dump Gold Mine on the other side of Victory’s tenement boundary with Odyssey Gold.

A recently completed auger soil geochemical program identified anomalous gold geochemistry associated with the Bottle Dump Shear Zone.

The Nemesis Project. Pic: Victory Goldfields




This article was developed in collaboration with Victory Goldfields, a Stockhead advertiser at the time of publishing.


This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.