- Victory Goldfielfds (1VG) identifies anomalous gold geochemistry in soils from its initial power auger drilling program for the recently granted Emily Wells North tenement
- Gold geochemistry and aeromagnetic interpretation suggests the length of the anomalous structure has been increased to 1.2 kilometres
- Arsenic geochemistry reinforces the gold anomaly near the western edge of Emily Wells North
- Assays from RC drilling completed at Emily Wells in November are expected to be received next month
- Shares have been up 5 per cent, trading at 21 cents
Victory Goldfields (1VG) has identified anomalous gold geochemistry in soils from its initial power auger drilling program for the recently granted Emily Wells North tenement, with no testing of the mineralization to depth.
This interpretation suggests the length of the anomalous structure has been increased to 1.2 kilometres.
The company said arsenic geochemistry reinforces the gold anomaly near the western edge of Emily Wells North. The two anomalies are interpreted to be separated by a two-metre thick blanket of transported colluvium.
The company also says assay results from the recent reverse circulation drilling (RC) undertaken at Emily Wells are expected next month. The RC drilling and the soil anomaly results will be used to develop the exploration program for Emily Wells North, in conjunction with the Emily Wells project, in early 2022.
Victory Goldfields is also anticipating sample assay results from the Coodoray and Nemesis RC drilling campaigns.
Further drilling at these prospects in 2022 will be guided by the assay results for the
three projects.
Shares were up 5 per cent, trading at 21 cents at 2.27 pm AEDT.