Viking Mines (ASX:VKA) is planning a follow-up program at the Northern Duplex target, part of the First Hit Project in Western Australia, upon discovering two separate gold bearing zones.
The First Hit Project is centred around the historical First Hit Gold Mine, which sits along the Ida and Zuleika Shear zones in the Eastern Goldfields region of Western Australia.
Viking is considering collecting additional data to better define the priority target areas across the expansive 25km strike of the Zuleika Shear Targets.
The company is investigating undertaking infill auger drilling over the multiple >10ppb anomalies identified from the previous auger drilling campaign to improve the resolution of the targets and provide focus areas for drill testing.
In addition to an infill auger drilling program the company is also investigating collecting high resolution magnetic geophysics to better resolve the structures which form the focus of our targeting. This work will be assessed and budgeted with the possibility of starting in the March quarter.
Viking continues to advance exploration activities with the objective of the discovery of new gold deposits on the “highly prospective” tenement package at the First Hit Project.
The company is now awaiting receipt of assays from the remaining three drill traverses completed at the Northern Duplex target as part of the phase one drilling program. It is anticipated results will be received in March.
Viking will also complete planning of the phase two program, which will focus on first pass drill testing of the Central Duplex Target and potential follow up drilling at the Northern Duplex Target once assay results have been received.
Planning and budgeting of additional follow up exploration activities at the Northern Duplex Target which may involve a combination of infill auger drilling and high-resolution magnetic geophysics to provide focus areas for follow up drilling over this large expansive target.
The company has now received assay results from a phase one drilling program, which confirmed gold discoveries across two separate structural positions, returning up to 2.9 grams per tonne gold.
Viking Mines, which has a market capitalisation of $10.62 million, says the results demonstrate hallmarks of a mesothermal gold system and the potential for discovering a new gold deposit within the project tenure.
CEO Julian Woodcock says now that the company has confirmed the gold pathways, follow-up work needs to be carried out to discover potential new gold deposits.
“This is a large land position with no bedrock drill testing of this prospective horizon over 90% of the 25km of strike which we control, and with the results we have received, demonstrates the potential for the discovery of new gold deposits,” Woodcock says.
“The significant 100% controlled land position that Viking has established encompasses more than 25km of the prolific Zuleika Shear, which is host to multiple million ounce plus gold deposits and is immediately adjacent to Ora Banda Mining’s (ASX:OBM) more than 1.3 million ounce Riverina-Mulline Camp, sharing the same host greenstone geology.
“The lack of previous exploration coupled with the results we have received and located immediately adjacent to and along strike of multi-million ounces of gold endowment highlight the opportunity which we have to create value for our shareholders with the drill bit.”
Viking Mines is awaiting to receive the assays from the remaining three drill traverses completed at the Northern Duplex target, as part of phase one drilling. This is expected to be received in March 2025.
The First Hit Project is centred around the historical First Hit Gold Mine which sits along the Ida and Zuleika Shear zones in the Eastern Goldfields region of Western Australia.
Viking Mines is a battery minerals and gold-focused explorer with assets in Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Viking Mines
