- Victory Mines (VIC) begins a 6000-metre reverse circulation (RC) drilling program at its Coogee Project in Western Australia
- Drilling will outline the northern extension of two gold-copper trends north of Coogee
- Victory will also aim to gain more understanding of the previously identified copper-gold porphyry target to the northeast
- Drilling is expected to take two months to complete with results to be released when they become available
- Victory is up a healthy 50 per cent on the market with shares trading at 0.3 cents at 11:23 am AEST
Victory Mines (VIC) has begun a 6000-metre reverse circulation (RC) drilling program at its Coogee Project.
The Coogee Project lies roughly 55 kilometres southeast of Kalgoorlie in Western Australia and consists of four tenements that cover 17 square kilometres.
It has a JORC 2012 indicated and inferred mineral resource estimate of 224,000 tonnes at 4.1g/t gold and an ore reserve of 109,000 tonnes at 5.1g/t gold for 18,000 ounces.
This RC drilling program follows the receipt of significant gold and copper intersections which returned up to 5.64 per cent copper and 4.74g/t gold.
Two rigs will be in operation and Victory will outline the northern extension of two gold-copper trends north of Coogee.
The company will also aim to gain more understanding of the previously identified copper-gold porphyry target to the northeast.
Drilling is expected to take two months to complete with results to be released when they become available.
“The new drilling program offers significant potential to expand the footprint of the previously identified copper-gold porphyry target in addition to developing the groundwork for a potential understanding of the two new gold-copper trends located immediately north of the Coogee open-pit,” Executive Director Matthew Blake said.
Victory was up a healthy 50 per cent on the market with shares trading at 0.3 cents at 11:23 am AEST.