Viking Mines (ASX:VKA) is making ‘rapid advancements’ in its exploration work across its Canegrass Battery Minerals Project in Western Australia.
As of yesterday (28 June 2023), 34 holes have been completed in the project area for 5,408m drilled as part of Viking’s planned 6,000m program. Yet, several holes have been extended while drilling has progressed.
As such, Viking has estimated that the program will total about 6,500m.
The company says samples are being routinely dispatched to a laboratory, and results are anticipated to be received throughout July and August 2023.
Other upcoming activities and priorities for the Canegrass Project include completing the logging of drill chips and assessing target areas, as well as assessing results from a preliminary sighter metallurgical testwork program once received. Viking says this is expected in late July 2023.
Additionally, Viking intends to update the project’s geological model once all analysis results have been returned, which is expected within 5 to 6 weeks of the completion of drilling, based on indicated laboratory turnaround times.
Viking is currently drilling at the Kinks South targets, which have returned multiple and consistent thick zones of massive magnetite — the known host to vanadium mineralisation at the project.
Commenting on the results returned so far, Viking Mines Chief Executive Officer (CEO) and Managing Director Julian Woodcock says: “The drilling underway at Canegrass is delivering positive indications ahead of receiving assays.
“at the Kinks South target area, we have intersected multiple, thick zones of magnetite in several drillholes testing a strike length of more than 1.1km”
Specifically, at the Kinks South target area, we have intersected multiple, thick zones of magnetite in several drillholes testing a strike length of more than 1.1km. These newly drilled holes are expanding on the recent drilling completed by Viking in March 2023, which returned 17m @ 0.98% V2O5, including 12m @ 1.06% V2O5 in hole VCRC0006.
The Kinks South target area has the scale and potential to deliver substantial resources towards the company’s strategic objective of defining a high-grade resource of more than 30Mt @ more than 0.9% V205.”
Viking is drilling across 5 exploration target areas, focused on extending and growing the current Mineral Resource Estimate (MRE) of 79 million tonnes (Mt) @ 0.64% V2O5 estimated at the Fold Nose and Kinks deposit.
Results thus far represent only 1 of the 5 target areas being tested as part of the drilling program.
The Canegrass Battery Minerals Project is located in the Murchison region of Western Australia.
Viking Mines is an ASX-listed company focused on uncovering strategically positioned base and precious metal assets. According to its latest quarterly report, the company had a cash position of $3.35 million as of 31 March 2023, although this was bumped to $4.35 million in April following the receipt of a cash payment in Ghana.
Write to Aaliyah Rogan at Mining.com.au
Images: Viking Mines Ltd
