Victory Mines continues to hit paydirt in Western Australia, with ongoing drilling at its Coogee gold project south of Kalgoorlie returning promising intercepts. The company’s third phase of drilling across the fertile project area has successfully intersected mineralisation along strike from the historical Coogee open pit, with results including 8m at 3.64 grams per tonne gold from 172m and a further 24m grading 0.32 g/t gold from 188m in the same drill hole.
The company is now more than 80 per cent of the way through its 6,000m drill program at Coogee, with 41 reverse circulation holes completed over more than 350m of strike and the first results beginning to stream in from the lab.
The drilling is designed to delineate the northern extensions to the two recognised gold trends in the region including the Coogee gold trend and the Eastern gold trend.
Victory’s current drilling program is also designed to investigate the Coogee North copper-gold porphyry discovery just 450m north of the Coogee pit, which shows marked similarities to Lefroy Exploration’s Burns copper-gold porphyry discovery to the east.
The Burns discovery has proved a boon for Lefroy, with its maiden drilling program producing a series of stunning results including 38m at 7.67 g/t gold and 0.56 per cent copper from 134m. The find put a rocket under the company’s share price earlier this year, sending the stock from just 20c in February to more than $1.50 in April – a feat Victory looks keen to emulate.
Victory has already completed resampling of the historical drilling across the Coogee North porphyry returning a bevy of anomalous intercepts including an impressive 5m at 1 per cent copper and 1.49 g/t gold from 80m and 6m at 1.95 per cent copper and 2.83 g/t gold from 90m down-hole. The current program will move on to this target in the weeks ahead, with drilling set to test the porphyry target and additional geophysical targets in the vicinity of the main intrusion.
Meanwhile, drilling continues along the Coogee gold trend that has now been delineated along more than 350m of strike. The Eastern trend has also been defined along close to 250m of strike, with additional results from recent drilling include 16m at 0.62 g/t gold also featuring 8m at 1 g/t gold from 176m down-hole.
The recent exploration appears to now be unearthing an extensive multi-lode gold system at Coogee that is potentially related to a deeper intrusive porphyry body to the north.
With drilling continuing to systematically test the Coogee region and Victory now planning a further 1,000m of drilling to keep the rig busy in the weeks ahead, the company looks to have the bit between its teeth in its charge to uncover a significant new copper-gold discovery in WA’s fertile Eastern Goldfields.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
