Victory warming up ahead of WA gold drilling
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Victory Goldfields is poised to unleash a 3,550m reverse circulation drilling program across its Coodardy, Emily Wells and Nemesis (Tuckanarra) gold projects.
This follows on the heels of the recent Phase 1 diamond drill program and is aimed at systematically testing new targets as well as extensions to known gold mineralisation at the projects in Western Australia.
Drilling will begin in the second half of October with Victory Goldfields (ASX:1VG) noting that the first holes will target the Coodardy project to follow-up on recent successful soil geochemical programs and the results of the diamond drilling program that identified a new exploration target west of the mineralised project area.
“The company continues to progress exploration on its extensive portfolio of projects,” executive chairman Trevor Matthews said.
“The RC drilling program is an exciting mix of targeting known gold mineralisation with historical gold intersections at Coodardy combined with new undrilled anomalous gold zones identified at Emily Wells and Nemesis.”
Historical aircore and RC holes drilled at Coodardy in the 1980s had identified shallow gold mineralisation with intersections such as 12m grading 4.5 grams per tonne (g/t) gold from just 12m and 14m at 4.21g/t gold from 14m in the oxidised weathered profile.
Victory plans to drill 16 holes totalling about 1,150m to confirm these shallow historical intersections. These holes will also form part of a larger resource definition drill program to establish a JORC resource at Coodardy.
At the Emily Wells project, shallow historical economic drill intersections can be found at the Oxonia Pit.
Eight holes totalling about 1,200m will be drilled to test the strong and continuous soil anomaly along strike extensions of the Oxonia mineralisation.
Additionally, the company plans to drill 10 holes totalling 1,200m to test anomalous gold geochemistry that a recent soil geochemical program identified in association with the Bottle Dump Shear Zone.
Other upcoming activity includes 5,000m of diamond drilling primarily on the Coodardy and Eaglehawk projects.
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.