Victory Goldfields (ASX:1VG) receives Coolgardie results

• Victory Goldfields (1VG) receives results from its reverse circulation (RC) drilling program completed at the Coodardy Project in WA
• Results come from Nemesis and Emily Wells and they support further drilling programs should be undertaken at these areas
• Drilling was carried out to convert the historical non-JORC compliant rotary airblast and RC drilling to meet the requirements of JORC 2012 standards
• All samples have been sent to the laboratory for fire assay analysis with modelling of the RC and diamond drilling to be undertaken once the results have been received
• Victory ends the day 2.56 per cent in the green with shares trading at 20 cents

Victory Goldfields (1VG) has received results from its reverse circulation (RC) drilling program completed at the Coodardy Project in WA.

Results come from Nemesis and Emily Wells and they support further drilling programs should be undertaken in these areas.

Drilling was carried out to convert the historical non-JORC compliant rotary airblast and RC drilling to meet the requirements of JORC 2012 standards.

The drilling was completed using industry-standard practice and included downhole surveying, suitable QAQC controls and sampling to ensure maximum representativity.

The gold mineralisation is associated with quartz veins and is hosted by several rock types including weathered dolerite, basalt, black-shales and felsic porphyry.

Results include eight metres at 7.7 grams of gold per tonne (g/t) from 24 metres, eight metres at 5.8g/t gold from 36 metres at 12 metres at5.4g/t gold from 12 metres.

Nemesis

Previous auger drilling at Nemesis has identified high order gold in soil geochemical anomalies in the northern half of the tenement.

These anomalies are believed to be associated with the eastern extension of the Bottle Dump Shear Zone which is the controlling structure at the Bottle Dump Deposit.

Emily Wells

Drilling at Emily Wells intersected several low-grade intervals associated with apple green-coloured quartz-feldspar porphyries.

Depending on the results, there may be scope to infill around the holes and search for higher grade pyrite-rich porphyries.

All samples have been collected and sent to the laboratory for fire assay analysis with modelling of the RC and diamond drilling to be undertaken once the results have been received.

“The Board and management are very pleased with the results of the RC drilling campaign, in particular, the near surface high grade intersections at Coodardy,” Executive Chairman Trevor Matthews said.

“Once the interval sample assay results are received, Victory will be in a position to calculate an initial mineral resource estimate for Coodardy.”

Victory has ended the day 2.56 per cent in the green with shares trading at 20 cents in a $9.17 million market cap.