Assays from Viking Mines (ASX: VKA) Kinks deposit define high-grade vanadium zones

August 24, 2023 12:13 PM AEST | By Sonal Goyal
Follow us on Google News:


  • Latest drill assays delivered high-grade vanadium zones at Kinks deposit of up to 40M at 0.75% V2O5.
  • The results present an opportunity to uplift the average grade in the Kinks West Block.
  • The Kinks West Block area contains multiple intercepts significantly higher than the current MRE average grade.
  • Several holes hit significantly elevated Cu, Ni and Co.

Viking Mines Ltd (ASX: VKA) has shared an encouraging project update. The Company shared assays from a recently completed drilling program at the Canegrass Battery Minerals Project, focusing on eight target areas. The goal was to grow and extend the existing inferred Mineral Resource Estimate (MRE) of 79Mt at 0.64% V2O5 (vanadium pentoxide) estimated at the Kinks and Fold Nose deposits.

The latest assay results have demonstrated thick high-grade zones of vanadium mineralisation within the Kinks deposit. Now, the Kinks West Block has multiple intercepts, which are higher than the current MRE average grade. This offers an opportunity to improve the average grade over the current MRE of 20Mt @ 0.57% V2O5 in this area.

Recently, the company also reported vanadium zones at the Kinks South target, to know more, click here.

Viking has also intersected elevated Copper (Cu), Nickel (Ni) and Cobalt (Co) values and Cu remains the most significant throughout the results. To assess the significance of these results, the Company needs to undertake further work.

The Company is yet to report the results for 21 of the 45 holes drilled under the ~7,500m drilling program.

Significant vanadium mineralisation at Kinks West Block

The following mineralisation has been intersected in the three holes drilled at the Kinks Deposit and tested the western limits of the MRE -

  • VCRC0021: 40m at 0.75% V2O5 (>0.5%) from 202m, including: 27m at 0.83% V2O5 (>0.8%) from 203m
  • VCRC0019: 38m at 0.70% V2O5 (>0.5%) from 96m, including: 15m at 0.86% V2O5 (>0.8%) from 101m
  • VCRC0020: 12m at 0.66% V2O5 (>0.5%) from 51m, including: 6m at 0.86% V2O5 (>0.8%) from 54m

The results confirm the opportunity to extend the MRE to the surface and further west.

Growth potential of Mineral Resource

The current inferred MRE of the Kinks deposit is 20Mt at 0.57% V2O5, a subset of the Canegrass project’s inferred MRE of 79Mt at 0.64% V2O5.

The Company has identified the extensions to the Kinks deposit, and in order to quantify its target size, the Exploration Target Estimate (ETE) was completed for the West Extension target area of 1.7Mt to 2.2Mt at 0.57% to 0.88% V2O5 for 0.02 to 0.04 billion pounds of V2O5. It is a sub-set of ETE for the Canegrass project of 144Mt to 192Mt at 0.45% to 0.99% V2O5 for 1.44 to 4.19 billion pounds V2O5.

Merging the extension of the mineralisation with the results in historical and current drilling, the Company believes there lies substantial opportunities to define higher-grade tonnes within the Kinks deposit MRE.

Significant copper mineralisation reported

The Company informed that Cu mineralisation has been significant in the results received and is directly associated with the VTM mineralisation. Also, the occurrence of Cu is within the same intervals as the V2O5 (approximately).

The elevated value observed throughout the ranges and drilling is between 0.06% to 0.1%.

The significance of these results can be assessed by further work.

Road ahead!

Following are the company’s priorities –

Data Source: Company update

VKA shares closed the day’s trade at AU$0.009 on 24 August 2023.  


The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

Top ASX Listed Companies

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK