Viking Mines Launches Expansive 6,000m Gold Drilling Campaign at First Hit Project

Viking Mines Ltd

• ASX Code: VKA
• Market Cap: $10,625,179
• Shares on Issue (SOI): 1,328,147,320
• Cash: $4,766,000 (as of 31 DECEMBER 2024)

Introduction

Viking Mines Ltd (ASX: VKA) has unveiled exciting developments in its exploration activities at the First Hit Gold Project, located in Western Australia’s prolific Eastern Goldfields region. This announcement outlines a strategic 6,000-metre reverse circulation (RC) drilling programme that aims to unlock significant gold mineralisation along high-priority targets. With robust financial backing and a clear exploration roadmap, Viking Mines is poised to intensify its gold discovery efforts in an underexplored segment of a well-known gold belt.

What Are the Key Highlights of the Announcement?

Viking Mines Ltd is rapidly advancing its exploration programme and recent updates highlight several critical aspects:

1. A 6,000-metre RC drilling programme has been initiated, targeting two primary areas – the Central Duplex Target (CDT) and the Bifrost prospect.
2. At the CDT, the company plans to test an extensive 2.8km strike and a 600m corridor. This target is underpinned by overlapping geophysical and geochemical anomalies that signal potential gold and arsenic mineralisation.
3. The Bifrost prospect, known for its promising intercepts from earlier drilling campaigns, is receiving focused follow-up drilling to expand on previously confirmed gold zones.
4. Early intercepts, such as 17m at 1.1g/t Au from 28m and 23m at 0.4g/t Au from 97m, provide early confidence in the region’s potential.
5. The current phase of drilling is expected to be completed in six weeks, with assay results anticipated by late April 2025.

This comprehensive approach aims to optimise the exploration process, potentially accelerating resource discovery and multi-phase project evaluation.

Detailed Overview of Exploration Activities

The First Hit Gold Project represents a significant effort to capitalise on the proven potential of Western Australia’s Eastern Goldfields. Viking Mines Ltd is leveraging modern exploration techniques alongside time-tested geological insights to enhance its discovery potential.

Central Duplex Target (CDT) – A Closer Look

At the CDT, situated just 2.5km south of the Bifrost prospect, Viking Mines is exploring a substantial 2.8km extension of known geological anomalies. Key points about the CDT include:

• Testing a 600m corridor that has displayed consistent geochemical signals.
• Overlapping geophysical anomalies, including magnetic lows, that align with previous indications of gold and arsenic enrichment.
• An expectation that positive results here could significantly boost Viking Mines' resource base in the region.

The CDT exemplifies the company’s focussed strategy on underexplored zones, demonstrating a commitment to identifying the full extent of mineralisation in the area.

Bifrost Prospect – Expanding Known Gold Zones

The Bifrost prospect continues to be a focal point of the drilling programme. Historical data and recent drilling have emphasised its potential:

• Follow-up drilling is designed to build on previous intercepts, such as reported 17m at 1.1g/t Au and 23m at 0.4g/t Au, reaffirming the geological continuity of the gold zones.
• Detailed drill data points include intercepts that suggest the presence of high-grade mineralisation over significant widths.
• The prospect serves as a key indicator for the broader region’s potential, reinforcing the rationale for continued investment in follow-up exploration.

Sample Intercepts from Bifrost: What Do They Tell Us?

Drilling at the Bifrost prospect has yielded promising intercepts, strengthening confidence in further exploration:

• Hole VKRC0068 returned 17m at 1.1g/t Au, which included a sub-interval of 2m at 3.1g/t Au.
• Hole VKRC0083 featured 27m at 0.4g/t Au, with a reported 1m segment at 2.9g/t Au.
• Hole VKRC0103 intercepted 23m at 0.4g/t Au, including 5m at 1.0g/t Au.

These early findings not only validate the geological models used in target selection but also encourage the pursuit of additional drilling to define resource boundaries more clearly.

Educational Spotlight: Why Is RC Drilling Critical in This Exploration?

Reverse circulation (RC) drilling plays a pivotal role in the exploration process for several reasons:

• It utilises a pneumatic hammer within a drill rod to fracture the subsoil efficiently.
• The process produces rock chips rather than core samples, making it a faster and more cost-effective method.
• Continuous sample acquisition ensures that vast areas can be surveyed quickly, even in remote or rugged terrains.

For Viking Mines, RC drilling is essential to rapidly gather geological data and refine the understanding of the subsurface. This technique not only expedites resource evaluation but also supports timely decision-making for advancing the project through subsequent phases.

How Does Viking Mines' Future Roadmap Look?

The company has outlined a clear and methodical plan to further its exploration efforts at the First Hit Gold Project. Key future steps include:

1. Completion of the current 6,000m RC drilling campaign over the next six weeks.
2. A comprehensive analysis of assay data from both the CDT and Bifrost targets, with results due by late April 2025.
3. Implementation of additional auger sampling to enhance the geochemical characterisation of identified anomalies.
4. Deployment of a drone-based magnetic survey to improve the mapping and interpretation of geological structures.
5. Advancement of mining evaluation studies centred on the First Hit gold mine area, aimed at confirming the project’s economic viability.

This step-by-step approach not only demonstrates due diligence but also underscores Viking Mines' commitment to maximising resource potential and ensuring robust project management.

Why Is This Announcement Important for Investors?

Investors are keenly focused on companies that possess a clear strategy and tangible milestones. Viking Mines Ltd offers several compelling reasons to watch the project closely:

• The company is operating in a region renowned for its gold deposits and well-established mining infrastructure.
• The proximity to lucrative projects such as Ora Banda Mining’s Riverina operation, located just 4.5km away, highlights the regional geological potential.
• The deliberate choice to target underexplored zones – particularly those along the Zuleika and Ida Shear Zones – positions the company favourably for future discoveries.
• The integration of modern exploration techniques, including RC drilling and drone-based surveys, enhances the reliability and speed of data acquisition.

By focussing on high-prospect areas with confirmed drill intercepts, Viking Mines is not only aiming to delineate a robust resource but also striving to position itself as a significant player in the Eastern Goldfields region.

Concluding Thoughts

Viking Mines Ltd has set forth a well-articulated plan to exploit the potential of its First Hit Gold Project, with a clear focus on both the CDT and Bifrost targets. The current 6,000-metre RC drilling programme is a testament to the company’s confidence in the geological prospects of the area. With promising early drill intercepts and an efficient exploration approach, the project is attracting attention as a potential breakthrough in gold exploration.

The following points summarise the key takeaways from this announcement:

• A rigorous 6,000m RC drilling programme is underway, focusing on key zones with geophysical and geochemical anomalies.
• The CDT and Bifrost targets offer substantial promise for expanding the known gold resource base.
• Initial drill results provide encouraging evidence of mineralisation, warranting further detailed investigation.
• Advanced exploration techniques and systematic sampling are critical components of the project’s success.
• The strategic location within the Eastern Goldfields, alongside strong financial and operational fundamentals, positions Viking Mines as an exciting opportunity for investors.

With assay results expected by late April 2025, the coming months are set to be crucial for confirming the extent of mineralisation at the First Hit Gold Project. Investors and industry observers alike will be watching closely as Viking Mines Ltd progresses through this ambitious exploration phase, realising the full potential of Australia’s rich mineral endowment.

Ready to Explore Viking Mines' Golden Opportunity?

Dive deeper into Viking Mines Ltd's exciting First Hit Gold Project and discover why this ASX-listed explorer is positioned for potential breakthrough in Western Australia's Eastern Goldfields. Click through to Viking Mines' official website to access the latest investor presentations, technical reports, and insights that could help you evaluate this promising gold exploration opportunity.