Victory Goldfields has begun a major exploration campaign at its gold assets in the historic Cue gold field.

Victory (ASX:1VG) will drill 3550m worth of reverse circulation holes to systematically test new targets and outline gold resources across its Emily Wells, Coodardy and Nemesis projects.

It comes amid a flurry of exploration activity for the newly listed company, which has auger and diamond drilling programs underway at Emily Wells and recently completed phase 1 diamond drilling at Coodardy.

Victory controls a largely contiguous tenement package in the multi-million ounce Cue district consisting of around 50 tenements in which 52 historic gold mines of varied scale, output and design are located.

While it is known gold is there, drilling will be the key to defining economic resources at scale, and Victory is already off to a great start.

“Victory is maintaining a high level of activity on its extensive portfolio of projects in the Cue goldfields,” executive chairman Trevor Matthews said.

“Following a number of successful soil geochemical programs and a DD program which identified a new target, the RC drilling program is focussed on three projects with high potential for success.”

Victory Goldfields
Drilling is under way at Victory Goldfields’ Cue targets. Pic: Victory Goldfields

Historic drilling offers targets for new campaign

Around 1150m will be sunk into RC drilling at Coodardy, where historic drilling found intersections of 12m at 4.5g/t Au from 12m and14m at 4.21g/t Au from 14m.

Those date back to the 1980s, sitting in its oxidised weathered profile.

The current drilling will be part of a larger resource definition drilling program to delineate a maiden JORC 2012 compliant resource at Coodardy.

Victory Goldfields
1VG is chasing historic high grade results at Coodardy. Pic: Victory Goldfields

Historic hits from around the Oxonia pit are also being followed up at Emily Wells, where drilling has already begun.

Victory’s current exploration campaign includes testing the strong and continuous soil anomaly along strike extensions of the Oxonia mineralisation.

Eight drill holes are planned to be drilled for approximately 1,200m of RC drilling.

At Nemesis, Victory will be testing anomalous gold geochemistry associated with the Bottle Dump Shear Zone identified in a recent soil sampling program. The robust anomaly will be tested by 10 holes for a total 1,200m of RC drilling.

No drilling has been completed at depth at the anomaly, located east of where Odyssey Gold has recorded strong gold results at its Bottle Dump project.

Meanwhile, the company is continuing to target gold in soil anomalies through a 346-hole Auger drilling program at Emily Wells, where it will extend auger lines from the M20/360 tenement north to the recently granted P20/2410 licence which has no drilling on record.



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.