Viking unearths four ‘priority’ gold targets around First Hit
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Viking Mines has uncovered four new targets outside the historic, high grade ‘First Hit’ gold trend. Drill programs are due to kick off in the coming quarter.
An early stage aircore drill program undertaken on Viking’s (ASX:VKA) First Hit project, 150km northwest of Kalgoorlie in WA identified
The four “immediate priority” targets — Twin Peaks, Jana’s Reward, Lady Bailey, and Toby’s Reward – can be seen below:
These target areas are in addition to further indicators received from the drilling to follow up immediately north and south of the historic First Hit gold mine.
“I am pleased to report that we have received the AC drilling results and completed a thorough interpretation which has identified four primary exploration target areas to follow up,” Viking Mines managing director and CEO Julian Woodcock says.
“In addition, results provide support for continuing to explore the First Hit structure north and south of the historic mine workings to identify potential high-grade mineralised lodes.
“The strategy employed by Viking to fingerprint the mineralisation at First Hit Mine with the Diamond Drill programme has proved invaluable in identifying the subtle ppb level gold anomalies generated by these high-grade narrow vein systems.
“Using this information, we have identified areas containing potentially gold bearing structures which run across the Viking tenements and are now planning the follow up exploration programmes to commence in the coming quarter.”
In January, gold explorer Viking appointed new chief exec Julian Woodcock – a geologist with a proven history of discovering and developing new projects.
It also picked up more ground near its high grade First Hit gold project in WA, where drilling in the 2000s intercepted high grades like 9m at 64.7g/t just below a historic resource.
Prior to closure due to depressed gold prices below $US320/oz, First Hit produced ~30koz ounces of gold at an average grade of ~7.7g/t gold.
No modern exploration activity had been conducted in the past 18 years.
In July, ex Newmont/current Northern Star dealmaker Dave Hall joined the board.
Then the explorer hit more visible gold in ‘step out’ drilling 165m north of the historical workings at the ‘First Hit’ project.
“What is exciting is that we have seen gold in a quartz vein in one of the step out holes located ~165m north of the historic underground workings and in a shallow position below surface,” Viking boss Julian Woodcock says.
“This confirms that the structures hosting the First Hit mineralisation contain gold beyond the previously defined limits of mineralisation.”
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.