- Victory Goldfields (1VG) begins an 826-hole auger drilling program at the Tuckanarra (Nemesis) and Mafeking projects in Western Australia
- 1VG is particularly eager to drill Nemesis as Odyssey Gold recently identified mineralisation trending towards the tenement from its Bottle Dump mine
- Victory Goldfields also has other drilling plans in the pipeline, with diamond drilling commencing next week at the Coodardy Project
- All up, 1VG will complete around 6400 metres of diamond drilling and 1800 metres of reverse circulation drilling at its projects over the rest of the year
- Company shares ended the day 8.11 per cent in the green to close at 20 cents
Victory Goldfields (1VG) has commenced an 826-hole auger drilling program at the Tuckanarra (Nemesis) and Mafeking projects in Western Australia (WA).
The company only listed on the ASX on July 22 and is already getting exploration activities under way.
The Tuckanarra Project neighbours fellow ASX-lister Odyssey Gold’s (ODY) Bottle Dump mine.
Importantly, exploration work at Odyssey’s mine has recently identified mineralisation that trends east toward the Nemesis tenement. As a result, Victory Goldfields is testing its project’s potential for mineralisation similar to Bottle Dump.
Executive Chairman Trevor Matthews was pleased to get auger drilling started.
“It’s great to get exploration activities underway on Victory’s excellent Cue goldfields tenement portfolio very quickly after listing.”
In addition to these two projects, 1VG is about to begin diamond drilling at the Coodardy Project which will aim to complete a JORC 2012 mineral resource, test four areas for high-grade gold mineralisation and test for lode continuity along strike.
The company also plans to drill its Eaglehawk and Emily Wells projects — both of which are also located in WA.
All up, Victory Goldfields expects to complete around 6400 metres of diamond drilling and 1800 metres of reverse circulation drilling over the September and December quarters.
Company shares ended the day 8.11 per cent in the green to close at 20 cents.