Visible gold hits a promising sign of more mineralisation at First Hit
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Viking has highlighted the potential to find undiscovered shoots at its previously underexplored First Hit project after visible gold was observed in its ongoing drill program.
Gold was panned from reverse circulation chips from two holes that were drilled as part of its 6,500m step-out drill program which is testing five high-priority targets.
While assays will be required to determine exactly what has been intersected, the presence of visible gold is typically a good sign that an orebody or its continuation is present.
Viking Mines (ASX:VKA) noted that precious metal was encountered from 98m to 100m downhole in VKRC0009 and from 26m to 28m in VKRC0009.
VKRC0009 is about 35m north of diamond hole VDD016 that returned a narrow vein intercept of 1m at 13.52 grams per tonne gold and 220m north of the historical First Hit underground mine workings. VKRC0009 is 720m north of the mine workings.
“I am thrilled that we have seen yet more visible gold at the First Hit Project, this time in the RC drilling program,” managing director Julian Woodcock said.
“The diamond drilling campaign completed earlier this year in and around the First Hit historic mine indicated narrow high-grade veins can be expected that contain visible gold.
“Seeing visible gold in the RC chips from the step out drilling program confirms the potential to discover additional mineralised shoots away from the historic First Hit mine.”
He added that while the presence of visible gold in VRC0009 supports the potential for a new shoot immediately adjacent to the historical mine workings, it was the visible gold seen in VRC0023 just 26m downhole and 720m north of First Hit that really excited him.
“This reaffirms that our targeted exploration program has defined the location of the First Hit structure and that it has been demonstrated to be mineralised away from the mine workings,” Woodcock explained.
The company noted that its RC drilling program is progressing well, with 19 holes totalling 1,874m drilled as of 30 October.
1,407 samples have been delivered to the laboratory with first assay results forecast to be received late November/early December subject to laboratory turnaround.
Viking will now pan for gold in prospective intervals from RC holes drilled to date with an initial focus on holes VKRC0005, VKRC006, VKRC008.
It will then review the location of the visible gold and the holes drilled with the objective of planning additional drilling, if warranted, down dip and down plunge of potential shoot locations while continuing with the planned drill program.
A review of the analytical protocols for intervals with visible gold will also be carried out to ensure that the most representative analysis methods are used.
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.