Victory Mines Limited (ASX: VIC) announced that the maiden RC drill campaign at the Coogee Gold Project in WA returned enhanced high‐grade gold intersections from the majority of 1m samples.
Significant hits included 3m @ 4.33 g/t Au from 105 metres; 10m @ 12.01 g/t Au from 93 metres inc. 3m @ 35.87g/t Au from 94 metres; 3m @ 2.75 g/t Au from 108 metres; and 20m @ 2.22 g/t Au from 92 metres inc. 12m @ 3.31g/t Au from 93 metres.
VIC said that a high‐grade shoot with grades of 3m @ 35.87g/t Au was defined over 100m in a down plunge direction which remains open at depth, located south of the Coogee pit. The company said that significant widths of gold mineralisation comprising 20m @ 2.22g/t Au were intersected 350m north of the Coogee pit with gold mineralisation open down dip and along strike.
VIC noted that the RC drilling programme continues to highlight the high‐grade nature of gold mineralisation at the Coogee Gold Project.
Coogee is located approximately 55km southeast of Kalgoorlie on the north‐eastern shore of Lake Lefroy and comprises four tenements (Mining Lease M26/477, Exploration Lease E26/177, and Miscellaneous Licences L26/264 and L26/265) that cover an area of approximately 17km2.
Victory had previously released significant 4m composite sample assay results from Coogee.
RC drilling at Coogee
The company had recently commenced the first RC drilling programme at the Coogee project. VIC reported that it has now received assay results from the majority of the 1m samples from its previously released significant 4m composite sample assay results.
More high-grade drill intercepts
The company reported that enhanced high‐grade gold intersections were returned from the majority of 1m samples for the Coogee Gold Project.
Important hits included CORC025 – 3m @ 4.33 g/t Au from 105 metres; CORC027 – 10m @ 12.01 g/t Au from 93 metres inc. 3m @ 35.87g/t Au from 94 metres; CORC028 – 3m @ 2.75 g/t Au from 108 metres; CORC029 – 4m @ 2.27 g/t Au from 79 metres; CORC031 – 1m @ 9.40 g/t Au from 38 metres; CORC034 – 19m @ 1.55 g/t Au from 91 metres inc. 5m @ 2.80g/t Au from 91metres; CORC037 – 3m @ 7.11 g/t Au from 42 metres; CORC038 – 5m @ 2.02 g/t Au from 109 metres; CORC048 – 13m @ 3.07 g/t Au from 77 metres; CORC051 – 19m @ 1.02 g/t Au from 80 metres; and CORC052 – 20m @ 2.22 g/t Au from 92 metres inc. 12m @ 3.31g/t Au from 93 metres.
Very high-grade shoot identified
The company said that with the return of an intersection of 10m @ 12.01 g/t Au, which includes 3m grading 35.87 g/t Au in drill hole CORC027, a very high‐grade shoot has been defined to the south of the Coogee pit.
VIC said that the high‐grade shoot has been outlined over 100m in a down plunge direction and remains open. The presence of pervasive magnetite and chlorite accompanied by intense pyrite being related to high grade mineralisation could be used to vector down plunge and strike extensions of the southern high‐grade shoot. Victory said that it is envisaging the use of geophysical methods such as down hole IP and or EM to aid further exploration targeting.
Significant widths of gold mineralisation
The company said that significant widths of gold mineralisation were intersected 350m north of the Coogee pit on drill sections 25500N and 25520N (local grid), with gold mineralisation remaining here open down dip and along strike to the north and south.
VIC said that the gold mineralisation intersected was also accompanied by strong magnetite alteration. The company said that from the gold mineralisation identified by Victory when combined with historic drilling, it is apparent that the intermediate feldspar porphyry hosted mineralised shear zone exhibits horizontal widths of up to 50m. This provides an attractive, relatively shallow target for further drilling both down dip and along strike.
The company said that below the Coogee pit itself, gold mineralisation was intersected by the current drill programme, albeit in narrower zones with better intersections comprising 3m @ 4.33 g/t Au in drill hole CORC025 and 2m @ 4.55 g/t Au in drill hole CORC019, with moderate to strong hematite plus magnetite alteration, which shows that the gold system is fertile and remains open at depth.
Victory said that it plans to undertake follow up drilling to test the depth potential of the gold mineralisation at Coogee. The company said that this recently completed RC drilling programme will enable Victory to confirm the orientation of these shoots which should greatly assist subsequent drilling programmes.