Victory Mines Limited ('Victory') is pleased to announce the commencement of the fourth phase 3,000 metre RC drilling programme at its Coogee Project ('Coogee') near Kalgoorlie in Western Australia.

Coogee is located approximately 55 kilometres south east of Kalgoorlie and immediately to the west of Silver Lake Resources Randall Mill.

The impetus for the new RC drilling programme is the recently announced gold grades of 4m @ 9.34 g/t Au from 175m, including 2m @ 16.15 g/t Au from hole CORC099 and 5m @ 5.11 g/t Au plus 0.76% Cu in CORC105 from 174m. These two holes have now outlined several more high grade shoots along the Main Trend 350m north of the Coogee pit.

These results are considered extremely encouraging, confirming that the trend continues to host high grade gold mineralisation well outside previously recognised areas at Coogee. In addition, new broad gold zones of 27m @ 1.22g/t Au in CORC107 from 109m and 31m @ 0.87g/t in CORC106 from 150m, plus further to the north of 12m @ 1.38 g/t Au from 179m in CORC098 and 17m @ 0.54g/t Au intersected in CORC099 from 190m confirm the continuation of significant downhole thickness of gold mineralisation immediately north off the Coogee pit

ABOUT THE COOGEE 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. The project's location near the major mining centre of Kalgoorlie in Western Australia provides ready access to both significant exploration and mining support services and a skilled workforce. To date Victory has completed 3 phases of RC drilling totalling 122 holes for 16,751 metres. The drill programs have been successful in outlining mineralisation which transitions from gold to copper gold to the north within a broader copper gold system at Coogee which now has strike length of over 1km.

Contact:

Matthew Blake

Tel: +61 419 944 396

(C) 2021 Electronic News Publishing, source ENP Newswire