19/07/2021 - 08:43

Victory extends gold-copper trend to 1km at Kalgoorlie project

19/07/2021 - 08:43

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ASX-listed explorer Victory Mines has extended the length of the gold-copper mineralised trend at its Coogee project near Kalgoorlie in Western Australia to 1km, with latest drilling results including 8m at 3.03 grams per tonne gold and 0.37 per cent copper from 124m in the “Eastern Trend” area. Assay results from other holes remain pending as the recently commenced drilling program motors on.

Map showing Victory Mines’ 100 per cent owned Coogee project in WA with new and previous gold-copper intercepts near the historical Coogee pit. Credit: File

ASX-listed explorer Victory Mines says it has extended the strike length of the gold-copper mineralised trend at its Coogee gold-copper project near Kalgoorlie in Western Australia to 1km, with latest drilling results including 8m at 3.03 grams per tonne gold and 0.37 per cent copper from 124m in the “Eastern Trend” area. Assay results from other holes remain pending as Victory’s recently commenced drilling program motors on.

The company says the increased strike length means Coogee hosts a “significant gold‐copper mineralised system”, with the “copper-rich” northern half the focus of ongoing drilling.

Victory has two drill rigs smashing out the metres as part of a 6,000m campaign with 33 holes for more than 3,800m completed to date.

It is looking to define extensions of two gold‐copper trends north of the historical Coogee pit, and to build its understanding of the copper-gold porphyry prospect at Coogee North.

Drilling to date has tested the extension of the Coogee pit and the nearby Eastern Trend further north.

Other new hits from the Eastern Trend include 8m at 1.9 g/t gold and 0.36 per cent copper from 100m and 12m at 1.05 g/t gold from 108m.

Victory says the latest results have extended Eastern Trend mineralisation out to a 250m-long zone.

Previous drilling at the northern edge of the Eastern Trend returned an impressive 17m hit going 1 per cent copper and 1.98 g/t gold from 77m, including 10m at 1.28 per cent copper and 1.91 g/t gold from 80m.

Assays from other new holes in the Eastern Trend area remain pending.

Results from the Coogee pit extension are also awaited.

Mid-tier gold miner Ramelius Resources produced some 20,000 ounces of gold from the Coogee pit at an impressive 4.7 g/t gold until closure in 2014. The pit has a reported remnant resource of about 10,000 ounces at 3.4 g/t.

At Coogee North, about 400m north of the Coogee pit, one new hole returned two mineralised intervals of 4m at 0.6 g/t gold and 0.43 per cent copper from 72m, with a deeper intercept of 4m at 1.88g/t gold and 0.10 per cent copper from 108m.

Historical drilling at Coogee North delivered several solid hits including 6m at 1.95 per cent copper and 2.83 g/t gold, with 4.77m at 2.16 per cent copper and 1.86 g/t gold in another hole.

Victory’s Coogee project takes in some 17 square kilometres of tenure located about 55km south-east of Kalgoorlie.

Lefroy Exploration’s exciting Burns discovery, where the company reported a bumper 38m intercept going 7.63 g/t gold and 0.56 per cent copper, lies only 15km south-east of Coogee.

Victory moved to full ownership of Coogee earlier this year when it issued $1 million of its shares to former joint venture partner in the project, Ramelius Resources.

 

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au

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