Victory Goldfields Limited has commenced its 1,400-metre Phase 1 diamond drilling program on the Coodardy, Emily Wells and Eaglehawk projects.
Victory’s projects are located in the Cue goldfields, which is regarded as one of the most prestigious mining districts of Western Australia with a long and successful history of gold exploration and production.
Victory’s Executive Chairman, Trevor Matthews, said to commence auger drilling and diamond drilling programs within weeks of listing Victory is an excellent start.
“These are the first diamond holes ever drilled in Victory’s advanced projects and the board is looking forward to the results from this initial phase to test known gold mineralisation and continuity based on historical drill results,” Mr Matthews said.
“With the initial diamond drilling phase to be followed by a second phase of reverse circulation and diamond drilling on the three advanced projects later this year along with further auger programs on earlier stage projects, there is a lot of exploration activity and newsflow scheduled over the coming weeks and months.”
The first phase diamond drilling program aims to test the continuity and depth extensions of historical drilling results and known mineralisation at Coodardy and Eaglehawk.
It also seeks to test depth extensions and confirm historical drilling results at the Emily Wells’ Oxonia Pit.
The company advises that the Cooldardy project has four diamond drill holes planned for 400 metres followed by Emily Wells and Eaglehawk projects.
Victory also notes that approximately 5,000 metres of diamond drilling and 1,800 metres of reverse circulation drilling are planned for phase 2 of the exploration program, expected to occur later this year.
