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- Victory Mines (VIC) has intercepted significant high-grade gold results during reverse circulation (RC) drilling at the Coogee Gold Project
- The exploration company has drilled 35 RC holes for 4000 metres, testing the down-plunge extensions of a number of high‐grade gold shoots
- Best results from the drilling include two metres at 13.82 g/t gold from 102 metres, including one metre at 26.4g/t gold from 102 metres
- Victory is still waiting on seven more assay results from the RC drilling program at Coogee
- Shares in VIC have opened trading down 12.5 per cent at 0.4 cents each
Victory Mines (VIC) has intercepted significant high-grade gold results during a reverse circulation (RC) drilling program at the Coogee Gold Project.
The Coogee Project is located near Kalgoorlie in WA, with Victory recently agreeing to take 100 per cent ownership of the asset from Ramelius Resources.
Since then the exploration company has completed drilling 35 RC holes for 4000 metres at Coogee, testing the down-plunge extensions of a number of high‐grade gold shoots.
The shoots were within an overall 600-metre strike length Coogee Pit Trend and below the previously mined Coogee pit.
Of the assays received, best results include two metres at 13.82 g/t gold from 102 metres, including one metre at 26.40g/t gold from 102 metres in CORC023.
Victory also intercepted eight metres at 13.53 g/t gold from 92 metres, including four metres at 18.10g/t gold from 92 metres in CORC027.
Speaking on the results, Victory Mines stated that the recently completed drilling program enables it to confirm the orientation of the shoots, which will assist in future drilling at the site.
VIC’s Executive Director Matthew Blake said the high-grade results are extremely promising.
“We are greatly encouraged by the success of Victory’s first RC drilling programme at the Coogee Gold Project with significant high‐grade gold results being returned,” he said.
Victory is still awaiting on seven more assay results from this recent RC drilling program, which it expects to receive in the next three weeks.
Shares in the exploration stock have opened trading this morning down 12.5 per cent at 0.4 cents each at 11:07 am AEDT.
