Viking drilling hits high-grade gold, identifies new target

Step-out drilling at Viking’s First Hit project 50km west of Menzies has returned gold results that point to the potential for a second high-grade shoot.

Notable results from the maiden diamond drilling program included 1m at 11.16 grams per tonne (g/t) gold from a depth of 325m within a broader interval of 5m at 3.67g/t gold from 323m (VDD013) and 0.5m at 71.64g/t gold from 302.8m within an interval of 7.06m at 5.93g/t gold from 325m (VDD015).

These two holes met Viking Mines’ (ASX:VKA) goal of testing the continuity and style of mineralisation of the Evans lode at depth below the deepest limits of the historical mine workings and obtaining key geological information to be used for further targeting of extensions.

Significantly, the step-out hole VDD016 drilled 165m north from the high-grade shoot at First Hit also returned a result of 1m at 13.52g/t gold from 57m.

Two other holes, VDD009 and VDD014 intersected visible gold and successfully identified the continuation of both grade and structure of the Kylie lode.

These holes also returned key geological information on structural data and alteration associated with gold bearing mineralisation, all of which will be used for further targeting of extensions.

“The latest set of high-grade results are highly encouraging and provide the company with critical information on the mineralisation and geology of First Hit,” managing director Julian Woodcock said.

“Importantly, we are hitting high-grade gold at depth, observing visible gold in numerous holes and what really excites us is the high-grade, near-surface intersection from our step-out hole, 165m away from the First Hit shoot.

“This is now a completely new target and we are very eager to further explore and see if there is any replication of the historically-mined gold shoots.”

Viking Mines — Long section looking West showing newly reported results and previously reported results. Pic: Supplied

Future activities

Planning has started on the next drill program to follow-up on step-out hole VDD016 to test for new shoot potential and test additional systematic step-out traverses to the north along the Frist Hit structural trend.

This program will also test the depth extensions of the First Hit mineralisation.

Other work includes the assessment of the effectiveness of reverse circulation drilling in light of recent observation on poor sampling practices for narrow vein, high-grade gold targets.

Viking will also incorporate the assay data into a regional structural model to define new targets for follow up and to provide support for the four target areas identified from aircore drilling.

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.