Visible gold on show for Viking Mines at First Hit
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Viking Mines has revealed significant visible gold in diamond drill core taken from its First Hit project near Kalgoorlie in an investor presentation released this morning.
The images released by Viking (ASX:VKA) show gold specks at numerous points in historic diamond drill hole FDH001 which was drilled in the early 2000s by Barra Resources,
Sometimes pictures tell it best – here they are.
The weighted intercept value in the First Hit database for hole FDH001 is 0.5m for 103.5 grams per tonne gold from 59.7m to 60.2m.
Viking’s presentation also detailed the depth of underground workings at First Hit, where it last week revealedexceptionally high grade gold in face sample data.
The historic workings run to a vertical depth of 220m, with 3.5km of historical development including a 1.5km decline, 800m of access drives, 900m of ore drives and 300m of strike drives.
There were some stunning intercepts reported from First Hit’s face samples last week, including one of 0.3m at 1056g/t gold for 317 gram metres.
The company shared more photos of infrastructure from around the project, highlighting the underground portal, a fuel storage facility with fuel tank removed, a currently covered vent rise and a workshop area with mine office cement pads.
A historic high grade gold project, First Hit was last mined by Barra Resources in 2002, when depressed gold prices of US$320 per ounce made the project uneconomic.
The project produced around 30,000 ounces of gold at an average grade of 7.7g/t. No modern exploration has been carried out at First Hit for the past 18 years, but having formally secured the project earlier this yearViking is changing that in 2021 with an aggressive exploration campaign helmed by experienced explorer and new CEO Julian Woodcock.
The project is 150km north west of Kalgoorlie, 60km west of the sealed Goldfields Highway and 50km north of Ora Banda Mining’s (ASX:OBM) Davyhurst Mill.
OBM’s Riverina open pit is the closest operating gold mine to First Hit, sitting 8km to the south.
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.