Glad tidings for Viking as drilling hits more visible gold at First Hit
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Viking has observed more visible gold at its First Hit project, reinforcing the potential to find additional mineralised shoots away from the historical mine.
Gold was sighted in a further three holes, taking the total number of holes with visible gold up to five.
Not a bad showing given that with 31 holes drilled to date, the current 65-hole drill program has yet to hit its midway mark.
Viking Mines (ASX:VKA) adds that these three holes form part of the First Hit North target area, which is the first of five targeted being tested.
The previous two holes were also located in the same target area.
“I am encouraged by the identification of additional visible gold in the RC drilling programme at the First Hit Project,” managing director Julian Woodcock said.
“In conjunction with the gold seen in earlier drill holes, this is a positive indication of the potential to discover additional mineralised shoots away from the historic First Hit mine.
“In particular, the presence of visible gold from VKRC0066 below and to the south of RC drillhole VKRC0023 further supports the potential for a new shoot ~700m north of the historic First Hit mine workings.
“Equally promising is the visible gold observed in VKRC0007 and VKRC0008 ~220m north of First Hit, which lends support to the sighting of gold in VKRC0009 and the earlier step out hole, VDD016 which returned 1.0m at 13.52g/t gold.”
The visible gold consisted of denser fine-grained gold forming a ‘tail’ up to 5mm long in VKRC0066, a point of gold up to 3mm in VKRC0008 and multiple flecks of gold in VKRC0007.
VKRC0066 is not part of the original 65-hole program and was designed in the field by Viking geologists to test the potential down plunge shoot position about 680m north of the historical mine workings.
It was drilled to follow-up 40m to the south and 40m below the visible gold observed in hole VKRC00232.
Gold was observed over two 1m intervals from 76m to 78m down-hole.
VKRC0007 and VKRC0008 were drilled on a section line encompassing hole VKRC0009 that had also panned visible gold.
The observation of gold up-dip from hole VKRC0009 gives support to the ongoing drill strategy and theory of additional mineralised shoots on the First Hit structure.
Drilling is currently underway following a pause to address a mechanical breakdown associated with the compressor and the program is expected to be completed by early December.
All samples from the completed drillholes have been delivered to the laboratory across two batches.
First assay results are forecast to be received late November/early December subject to laboratory turnaround.
This article was developed in collaboration with Viking MInes, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.