Phase 1 Drilling completed for Coodardy project and commenced Phase 1 Drilling at Emily Wells project
Highlights:
The 1,400 metre Phase 1 Diamond Drilling ("DD") program is progressing as planned for the Coodardy, Emily Wells and Eaglehawk projects
DD undertaken in two phases to test the continuity and depth extensions of historical drilling results and known mineralisation
Coodardy project DD holes completed and core samples sent to analytical laboratory
Assay results expected late this quarter/early next quarter
DD commenced at Emily Wells project with two holes planned followed by DD at Eaglehawk project
Approximately 5,000 metres of DD and 1,800 meters of RC drilling for Phase 2 of the exploration program across the three advanced projects planned for later this year
Two contiguous tenement applications granted – PL20/2409 and PL20/2410
PL20/2410 located immediately north of Emily Wells project and provides over 800 metres of project extension potential
Gold in soil geochemical program to be progressed on PL20/2410
Victory Goldfields (ASX: 1VG) ("Victory" or "the Company") is pleased to announce it has completed its Phase 1 Diamond Drilling ("DD") program for Coodardy. The drill rig has commenced Phase 1 DD at the Emily Wells project following which it will relocate to the Eaglehawk project to complete the Phase 1 DD program. The Phase 1 and Phase 2 DD programs are part of Victory's strategy to test the continuity and depth extensions of historical drilling results and known mineralisation at the three advanced projects.
Victory's Executive Chairman, Trevor Matthews said: "The Phase 1 DD program is progressing well with the Victory board and management team doing an excellent job in coordinating the various exploration activities to keep on schedule.
In addition, the timely grant of two tenement applications north of the Emily Wells project provides the opportunity to schedule a soil geochemical program to test the potential for a significant northern extension to the project area."
