Victory Mines has continued to make the case for possible northern extensions to the gold lode that was mined some years ago in the old Coogee open pit at its Coogee gold project near Kalgoorlie. Latest assays include 4 metres going 9.34 grams per tonne gold from 175 metres that hosts a 2m intersection grading 16.15 g/t from 176m.
The company says the stellar results substantiate the possibility of more high-grade shoots along the main trend north of the old Coogee pit. Victory is now planning further drilling to define the potential tonnage and ore
Other notable intersections in the latest campaign from the north trend were 4m at 5.11 g/t gold plus 0.71 per cent copper from 174m.
Intersections from the eastern trend of the Coogee pit included 2m going 9.86 g/t gold and 1.71 per cent copper from 125m. Some of the longer intersections from the eastern trend included 4m at 4.77 g/t gold from 163m and included a 2m intersection going 8.49 g/t gold from 165m.
The company also reported new broad gold zones which include a 27m intersection going 1.22 g/t gold from 1.9m.
Interestingly, Coogee is located some 50km from Silver Lakes Resources’ Randall gold processing facility and with Silver Lake’s Daisy Milano mine only having a two-year mine life, there may be some potential for Victory to have its ore toll treated at Randall.
Executive Director Matthew Blake said:“We have now received further encouraging gold‐copper results from our third phase RC drilling programme which continue to further refine the Coogee geological and mineralisation model. In particular, the identification of potential new high grade gold shoots is important as we continue our exploration drilling to discover an attractive high‐grade underground gold‐copper resource at depth.”
The company is now planning to submit outstanding samples for analysis and is looking to generate a 3D block model to identify additional target areas.
Victory says it has commenced a fourth phase of RC drilling at Coogee now aimed at extending the main and eastern trends through incremental step-outs and establishing the continuity of mineralisation at Coogee, amongst other things.
Victory’s play at Coogee is a classic one – find an old mined out pit, explore around it and under it and eureka – miners past left some behind.
This strategy is playing out well for a handful of ASX listed explorers and Victory looks to be no orphan as it systematically scrubs up the ground around the old Coogee pit.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
