Victory wraps up diamond drilling at the first of its three WA gold projects
Link copied to
Victory Goldfields has finished phase 1 diamond drilling at its Coodardy project in WA, with drilling now underway at the Emily Wells project.
The drilling is part of its 1,400m program over three projects, with the rig to move on to the Eaglehawk project once finished at Emily Wells.
Assays are pending for Coodardy with the company expecting results late this quarter/early next quarter.
Around 5,000m of diamond drilling at 1,800m of RC drilling are planned for phase 2 of Victory Goldfields’ (ASX:1VG) exploration program later this year – with the aim to test the continuity and depth extensions of historical drilling results and known mineralisation across the three projects.
The company has just secured two new tenements – PL20/2409 and PL20/2410 – with PL20/2410 immediately north of Emily Wells and providing over 800m of project extension potential.
This is a key step in the company’s long-term strategy to leverage its land holding position to acquire additional gold opportunities within the Cue goldfields district, either through joint venture or tenement acquisition.
“The Phase 1 DD program is progressing well with the Victory board and management team doing an excellent job in coordinating the various exploration activities to keep on schedule,” Victory executive chairman Trevor Matthews said.
“In addition, the timely grant of two tenement applications north of the Emily Wells project provides the opportunity to schedule a soil geochemical program to test the potential for a significant northern extension to the project area.”
PL20/2410 is planned to have a gold in soil geochemical program undertaken as an extension of the earlier Emily Wells geochemical program.
And further auger drilling is planned for several earlier stage projects with follow up RC
drilling based on the soil geochemical results.
This article was developed in collaboration with Victory Goldfields Limited, 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.