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- Viking Mines (VKA) announces completion of its 72 hole, 6723 metres reverse circulation drilling programme across four target areas at its flagship First Hit Project
- The company says results from seven of the holes confirm the presence of high grade gold 720 metres north of the First Hit historic mine workings
- Results include two metres at 9.67g/t from 26 metres and two metres at 4.26g/t gold from 75 metres
- Follow up drill programme will be assessed once final results are received
- Share are trading 11.8 per cent down today at 1.5 cents a share
Viking Mines (VKA) has announced the completion of its 72 hole, 6723 metres reverse circulation drilling programme at its flagship First Hit Project in the WA Goldfields.
The programme aimed to test four targets with visible gold identified in five drill holes to date. VKA aimed for completion in 38 drilling days, but it was pushed out to 44 days due to breakdowns and other technical issues. This was a four-week delay.
Results have been received for seven of the holes in the north target area of the mine. One hole returned two metres at 9.67g/t gold from 26 metres whilst another returned two metres at 4.26g/t gold from 75 metres.
The company says these results confirm the presence of high-grade gold mineralisation 720 metres north of the First Hit historic mine workings.
Managing Director Julian Woodcock said the results highlight the excellent potential for the First Hit Project.
“We are still in the early stages of exploring First Hit and we are buoyed by the results we
have received throughout 2021,” he said.
“Importantly, with over 90% of drill hole assay results from this programme still to be returned, these results will provide critical information to direct future exploration plans around these exciting new prospects.”
Results 220 metres north of the First Hit historic mine workings were one metre at 4.56g/t gold from 64 metres and one metre at 2.55g/t gold from 98 metres. Further assessment of the samples is needed to determine if a nugget effect is occurring.
Drilling at Jana’s Reward prospect intercepted a one-metre quartz vein at 49 metres associated with silica alteration and sulphide mineralisation from 47 metres to 51 metres.
All samples from drilling have been collected and dispatched to a laboratory in Kalgoorlie. The laboratory has been facing delays due to vaccine mandates affecting staffing availability. Results are expected late in the March quarter FY22.
Follow up drill programmes will be assessed once final results have been received.
Shares were trading 11.8 per cent down today at 1.5 cents a share at 2.12 am AEDT.
