- Victory Mines (VIC) has hit more high-grade gold at the Coogee Gold Project in Western Australia
- The latest batch of results are from the last seven holes of a reverse circulation drilling program completed at the project
- Drilling aimed to test down-plunge extensions on multiple high-grade gold shoots across 600 metres of strike
- The company is currently in the process of acquiring a 90 per cent interest in the project from Ramelius Resources – once completed, Victory will be the sole owner of the Coogee Project
- Company shares are currently trading flat at 0.3 cents
Victory Mines (VIC) has received more gold results from the last seven holes of a maiden drilling program at the Coogee Gold Project in Western Australia.
Coogee is located roughly 55 kilometres southeast of Kalgoorlie and comprises four tenements that cover 17 square kilometres.
Victory Mines recently entered an agreement with Ramelius Resources to acquire the remaining 90 per cent interest in the project. Once the conditions have been satisified, Victory will have a 100 per cent ownership of the project.
The 35-hole reverse circulation (RC) drilling program began at the start of October. It aimed to test down-plunge extensions on multiple high-grade gold shoots across the entire 600-metre strike length of the project.
Pleasingly, more high-grade gold has been intersected. Results include 12 metres at 2.85g/t gold from 76 metres, including four metres at 5.52g/t gold from 76 metres, and 20 metres at 2.07g/t gold from 92 metres, including eight metres at 3.41g/t gold from 96 metres.
These results build on previous results received which include two metres at 13.82g/t gold from 102 metres, including one metre at 26.4g/t gold from 102 metres.
“We continue to be encouraged by the success of Victory’s first RC drilling programme at the Coogee Gold Project with further significant high‐grade gold results being returned,” Executive Director Matthew Blake said.
Looking ahead, Victory will update the project’s data by compiling historical and previous drill data.
Victory will also complete multi-element analyses of drill chips, produce drill sections and complete a geological interpretation, as well as prepare the next phase of RC drilling below the Coogee pit trend.
Company shares are trading flat at 0.3 cents at 11:10 am AEDT.