Victory Goldfields (ASX:1VG) has kicked off aircore, RC and diamond drilling programmes testing gold and IOCG targets across three projects in the Cue region of Western Australia.
The company’s Chief Geologist has identified pegmatite in aircore drill chips in early drilling on the company’s North Stanmore project which is situated approximately 15km north from the Cue township.
“It’s great that our exploration team are back on site and it’s very exciting that we have so far identified pegmatite in drilling across a 200m section at our North Stanmore project,” Victory’s Executive Director, Brendan Clark, said.
“This is the first potential lithium anomaly the Company has identified across our large, underexplored tenement package, and we are now accelerating an assay program to test for lithium and pathfinder minerals from these pegmatite occurrences.”
“A 600m RC drilling programme will also commence soon on Victory’s more advanced Coodardy project which is designed to search for a supergene enriched orebody near surface. Additionally, a diamond hole will be completed in early May at Victory’s potential IOCG target.”
Aircore Drilling Programme at North Stanmore – E20/871
Historical aircore drilling intersected 2m @ 8.85 g/t Au and 3m @ 2.5 g/t Au within this anomaly without follow-up drilling.
Mr Clark said it is unusual to have such a large area of Au.
A total of 3,400m aircore drilling has commenced to investigate the target.
The first 200m line of aircore drilling has intersected pegmatite in drill chips and a priority assay programme has now been planned by the Company to test for lithium and pathfinder minerals from these pegmatite occurrences.
Diamond Drilling at North Stanmore – E20/8713
Upon further review of historical data, the company identified a significant bullseye magnetic anomaly which is situated within the North Stanmore E20/871 tenement area located approximately 15km north of Cue.
Victory commissioned Southern Geoscience Consultants (SGC) to complete 3D magnetic modelling to assess the depth to top and the body parameters of the source of the anomaly.
Results from the 3D modelling show that a compact body is predicted beneath the anomaly with a depth to top of 140-170m from surface. Frontline Drilling have been commissioned to diamond drill to a depth of 270m below surface.
Proposed RC Drilling Program at Coodardy West – M20/455
The lower graphitic schist was intersected in all four diamond holes (Figure 4) has the potential to be supergene enriched near surface.
There has been no drilling in this area of the tenement and the target has the potential to complement the Mineral Resource Estimate ‘MRE’ that is due to commence in May 20225. Eight RC holes totalling 650m are planned to search for the presence of any near surface supergene gold enrichment to the west of the gold mineralisation identified in the earlier Coodardy drilling programme.
Proposed RC Drilling Programme at Mafeking – M20/550
RC drilling is expected to commence imminently, subject to the granting of a Program of Work, to test the 400m long soil auger anomaly that straddles the Mafeking – Monte Carlo line of old workings.
Three RC holes along two traverses for 550m are planned which includes a large area of + 119 ppb Au.
For further information please visit: https://www.victorygoldfields.com.au/
