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- Victory Goldfields (1VG) begins drilling at its North Stanmore project in WA
- First up is a 3400-metre aircore drilling program to test gold in-soil anomalies and historical intersections in a 500-metre by 300-metre area
- The company has already found a pegmatite across a 200-metre section and plans to test for lithium and pathfinder minerals
- Additionally, Victory Goldfields will undertake diamond drilling to test an IOCG target as well as reverse circulation drilling over at the Coodardy West deposit
- 1VG shares are down 5.71 per cent to trade at 16.5 cents
Victory Goldfields (1VG) has begun a drilling program at its North Stanmore project in Western Australia.
The aircore drilling program will include 3400 metres to test gold in-soil anomalies and historical aircore intersections over an area covering 500 metres by 300 metres.
The previous intersections included two metres at 8.85 g/t gld and three metres at 2.5 g/t gold within this anomaly and weren’t followed up.
Victory Goldfields said the first 200-metre line of drilling intersected pegmatite in drill chips and it plans to test for lithium and pathfinder minerals as well.
“It’s great that our exploration team are back on site and it’s very exciting that we have so far identified pegmatite in drilling across a 200-metre section at our North Stanmore project,” Executive Director Brendan Clark said.
“This is the first potential lithium anomaly the company has identified across our large,
underexplored tenement package, and we are now accelerating an assay program
to test for lithium and pathfinder minerals from these pegmatite occurrences.”
The materials stock is also mobilising a diamond rig to drill 270 metres and test a potential iron oxide copper-gold target at the North Stanmore project.
Furthermore, Victory Goldfields proposes to complete an eight-hole reverse circulation (RC) drilling program at the Coodardy West deposit.
Drilling will explore the presence of any near-surface supergene gold enrichment to the west of known gold mineralisation.
The company said the RC drilling has potential to complement the Coodardy Mineral Resource Estimate.
1VG shares were down 5.71 per cent to trade at 16.5 cents at market close.
