Viking Mines Limited (ASX:VKA) Reports Promising 2nd Regional Drill Results
Exploration Results
Viking Mines Limited (ASX:VKA) has announced assay results for the second regional drill traverse at the Bifrost Target. The results confirmed gold mineralisation across two wide-spaced drill traverses 1.7km apart, including two intercepts exceeding 1g/t Au in hole VKRC0103: 5m at 1.0g/t Au from 102m and 3m at 1.3g/t Au from 115m. These intercepts are within a broader mineralised zone of 23m at 0.4g/t Au from 97m. Additionally, multiple anomalous zones with >40ppb Au were encountered, supporting the presence of several gold-bearing pathways across the ~1.2km E-W drill traverse.
Future Plans
Viking has commenced a close-spaced infill auger geochemical sampling programme to guide follow-up drilling over the extensive 3.6km x 1.2km target area. Phase 2 of the drill programme will start imminently, targeting a separate 6km geochemical anomaly over the Central Duplex Target, with follow-up drilling at Bifrost once remaining assays are received. The company aims to identify the potential source of gold and expand the strike extent of the mineralised system.
Executive Comments
Managing Director & CEO Julian Woodcock stated, “We are extremely pleased by the results received from the second drill traverse at Bifrost. We have demonstrated extensive gold mineralisation pathways are present with the capacity to generate results of the tenor seen proximal to regionally relevant substantial gold deposits such as Riverina (ASX:OBM). This first pass wide-spaced drilling programme covers a very large area >3.6km in strike length and has now delivered us two high priority follow-up targets 1.7km apart, which warrant immediate further work. Work programmes continue with auger drilling underway and the Phase 2 RC drill programme to commence in March. I look forward to providing further updates to the market as we receive the results from the remaining two drill traverses.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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