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Victory drilling right on Cue NOW!

ictory Goldfields Ltd was quick to ing that has looked at them wholly,” Mat- “We’re picking it up between histori-
Vdraft a hefty drilling campaign for its thews told Paydirt. cal holes and testing depth extensions
suite of untapped prospects in Western “Previously, the limitation of only hav- there.”
Australia’s prolific Cue region after join- ing one project in this region has restrict- The drilling campaign will include
ing the bourse in July following a $5 mil- ed the upside for past explorers. They 4,600m diamond and 1,800m RC holes.
lion IPO. didn’t have the neighbouring tenements Victory also plans to go deeper than any
Unleashing unrealised potential is a in one package. past explorer at Cue, complementing the
common pitch in the resources sector, “But by putting these all together in holistic package.
but it’s rare for one company to have so one contiguous portfolio and running “Eaglehawk has an underground, quite
many projects around Cue packaged north-to-south over quite a distance, it shallow, 50m mine,” Matthews said.
into a single portfolio. provides an opportunity to look at it in a “We want to better define the orebody
Victory’s stable amasses 46 granted much more holistic way.” in terms of its orientation. It was a high-
tenements, with a further seven under Victory has already earmarked three grade, narrow vein-style mine. We’re try-
application, totalling 73.88sq km. projects – Coodardy, Emily Wells and ing to better understand the continuity of
Executive chairman Trevor Matthews Eaglehawk – for the first taste of the drill the mineralisation.
is quick to remind investors of the 7 moz bit. “A good example with that project is
gold historically produced out of Cue “Over the next five months we have there was a drill hole that was 5m @ 18
over more than 100 years which has more than 8,000m in drilling scheduled g/t. That’s the sort of work we want to
seen 52 mines come and go. through diamond and RC holes,” Mat- undertake.”
Despite numerous gold explorers and thews said. While plenty of explorers have walked
producers having left their mark on the “Coodardy, which is probably our No.1 the ground around Cue, Victory makes
region, Matthews believes a consolidat- project, is quite advanced and has a no secret of the cohort it hopes to emu-
ed holding is key to unlocking its poten- number of historical drilling intersec- late.
tial. tions, but they’re too widely spaced to re- Earlier this year, Odyssey Gold Ltd
“There has been no modern explora- ally put together a resource at this early pulled up strong visible gold at the Bottle
tion on any of these tenements and noth- stage. Dump deposit in its nearby Tuckanurra
project, including hits of 190m @ 3.9 g/t
and 198m @ 9 g/t.
Odyssey’s success clearly encour-
ages Matthews, who is already looking
to a follow-up drilling programme on the
Victory tenements which he said would
be funded by the IPO proceeds.
“We have some early-stage auger
work and soil geochemical work on a few
other tenements, one of them is Neme-
sis,” he said.
“Historically, Nemesis was known as
Tuckanurra, and it sits near Odyssey’s
Bottle Dump.
“There’s a shear zone that runs
through the Bottle Dump mine to the
east and through our tenement which we
think is hosting the mineralisation.
“We’ve got a real pipeline of projects
developing and prospects to drill out
over time. It’s been a bit of work to get it
to market but we’re there now and look-
ing forward to success over the coming
months.”
– Fraser Palamara
Emily Wells will be one of the first prospects to be drilled following the $5 million IPO

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