New Coogee Results Define Copper-Gold Trend For Over 250m
Victory Mines Limited (ASX:VIC) has obtained further encouraging results from the 4m composite samples collected from its third phase 6,000m RC drilling programme at its Coogee Gold Project, approximately 55 km south‐east of Kalgoorlie in Western Australia.
The RC drill programme’s focus is to define the northern extension of the two gold‐copper trends north of the Coogee Pit, and to develop a greater understanding of the previously identified copper‐ gold porphyry target at Coogee North, located immediately to the north‐east.
To date, 33 holes for 3,831m have been completed with two drill rigs on site. The drill holes have ranged in depth from 48m to 227m. A number of holes are expected to be extended with diamond tails.
4m composite samples are being collected via the spear sampling method for Au fire assay analysis and mixed acid digest, with ICP OES finish for Cu. Four batches of samples (4m composites) have been submitted to the Bureau Veritas (BV) Perth laboratory.
Two batches with gold and copper assay results from the 4m composite samples have now been received. Anomalous 4m composite samples (containing greater than 0.2g/t Au and greater than 0.3% Cu) will be analysed on a 1m basis using the already collected/split 1m samples.
Drilling to date has tested the extension of the Coogee Pit and Eastern Trends with single drill holes at 80‐120m step outs sections along the prospective corridor. Variable thicknesses of favourable alteration +/‐ sulphide mineral assemblages matching those seen in mineralised intervals to the south have been intersected.
Drilling in this programme has been completed over both trends over a 300m strike length from the previous most northern mineralised drill holes CORC064 and CORC089 on each respective trend.
CORC064 located at the northern edge of the “Eastern Trend” returned a significant copper intersection coincident with high‐grade gold assays comprising 17m @ 1.00% Cu, 1.98 g/t Au from 77m including 10m @ 1.28% Cu, 1.91 g/t Au from 80m. The significant copper‐gold intersection features a high‐grade assay of 1m @ 5.64% Cu and 4.74g/t Au
Gold and copper assay results received have now defined a 250m strike length zone over the “Eastern Trend” extending from drill hole CORC064 to CORC096 with results including:
- 8m @ 0.52 g/t Au and 1.61% Cu from 132m in CORC096
- 8m @ 3.03g/t Au and 0.37% Cu from 124m in CORC092
- 24m @ 0.48 g/t Au and 0.75% Cu from 144m in CORC095
The Coogee trend now has a strike length of 1km, making it a significant mineralised system with the northern half being copper rich returning a number of significant copper intersections from the March quarter and the drill programme currently underway.
Drilling is also testing shallow up‐dip positions of existing mineralised intersections across sections 25480N‐25580N and the northern extension 26200N ‐ 26440N of the main and eastern trends. This area has no previous drilling. Regional aeromagnetic datasets appear to show the confluence of the eastern and main trends over this target area.
The current drilling programme has also received impetus from the intersection of similar lithologies as those seen on the Coogee trends to the south, with several holes having intersected pyrite rich zones. Assay results are pending.
The programme is expected to be completed by the end of July.
For further information please visit: https://www.victorymines.com/
