- Viking Mines (VKA) shares took a hit after the company reported results from a drill program at its First Hit Project in the Western Australian Goldfields
- Notable findings include 13.52 grams of gold per tonne (g/t) from 57 meters, which Viking says it plans to follow up with further drilling
- Viking Mines Managing Director and Chief Executive Officer Julian Woodcock says the find has given way to a brand new target
- Further drills are planned to target extensions below the Kylie and Owens lodes
- Viking Mines shares are down 17.4 per cent to trade at 1.9 cents at 1:33 pm AEST
Viking Mines (VKA) shares took a hit after the company reported results from a drill program at its First Hit Project in the Western Australian Goldfields.
The 3924-metre diamond drilling campaign sought to test the continuity and mineralisation within Evans lode and obtain geological information for further extension targeting.
Viking said it was particularly “buoyed” by a visible gold find within a step-out drill hole which returned an intersection of one meter at 13.52 grams of gold per tonne (g/t) from 57 meters.
Viking said it planned to commence follow-up drilling at the hole.
Additional intersections include 7.06 metres at 5.93g/t gold — including 0.5 metres at 71.64 g/t gold — and five metres at 3.67g/t gold, including one metre at 11.16g/t gold.
The company said it had commenced planning for another drill program in a bid to target extensions below the Kylie and Owens lodes.
Viking Mines Managing Director and Chief Executive Officer Julian Woodcock said the results provided the company with critical information on First Hit.
“We are hitting high-grade gold at depth, observing visible gold in numerous holes and, what really excites us, is the high-grade, near-surface intersection from our step-out hole 165 metres away from the First Hit shoot,” he said.
“This is now a completely new target and we are very eager to further explore and see if there is any replication of the historically-mined gold shoots.”
Viking Mines shares were down 17.4 per cent to trade at 1.9 cents at 1:33 pm AEST.