Viking Mines (ASX: VKA) Reports Gold Nugget Finds at Riverina East

Highlights

• Viking Mines has recovered an extensive coarse-grained gold rock sample at the Riverina East Project.
• Field teams have collected 102 gold nuggets totaling 44.8 grams, bringing the cumulative total to 120 nuggets.
• Nugget patch measuring 600m x 500m established within the Southern Structural Target area.
• East-west trend of gold nuggets aligns with magnetic breaks, highlighting untested structural potential.
• Phase 3 drilling has confirmed bedrock gold, with further mapping, sampling, and drilling planned.

Viking Mines Limited (ASX:VKA) has provided an update on ongoing exploration activities at its Riverina East Project in the Eastern Goldfields of Western Australia.

Recent field work has led to the recovery of a rock sample containing extensive coarse-grained disseminated gold. The source of the gold is currently unknown, with laboratory analysis underway and expected to conclude in the next quarter to determine whether it represents alluvial, supergene, or primary mineralisation.

In addition to the rock sample, field teams have recovered 102 gold nuggets totaling 44.8 grams, bringing the cumulative nugget count from the area to 120, weighing 54.7 grams. These discoveries have established a substantial nugget patch measuring approximately 600m by 500m, all located within the Southern Structural Target (“SST”) area. Viking states that the concentration of gold nuggets has positioned this region as a high-priority target for follow-up exploration.

Significance of Nugget Finds and Implications for Exploration

The recovered nuggets display a dominant east-west orientation, a trend that remains open-ended in both directions. This orientation aligns with a break observed in magnetic geophysical data, potentially indicating an untested structure with gold-hosting potential. Previous drilling in the area has primarily been conducted along an east-west orientation targeting north-south striking structures, which have not effectively tested the newly observed trend.

Regional analogues, such as Gorilla Gold’s (ASX:GG8) Lakeview Prospect, exhibit narrow, high-grade gold lodes trending east-west and WNW-ESE, suggesting that similar structural settings at Riverina East may host significant mineralisation. To explore this possibility, Viking Mines plans to conduct field mapping, sampling, and drilling along the east-west orientation. Additional activities under consideration include higher-resolution magnetics surveys to refine structural interpretations and closely spaced geochemical sampling to better define the orientation of the anomaly.

Drone Magnetics Survey – Bifrost Area

The company has completed a drone magnetic survey across the Bifrost target area with 20-metre line spacing. The higher-resolution geophysical data have improved the understanding of structural complexities within the target area. Drilling to date has confirmed that certain structures are gold-hosting, with potential for high-grade mineralisation along strike. Viking Mines would continue evaluating this target, integrating the updated structural interpretations from the drone magnetic survey.

Southern Structural Target Drilling

Phase 3 drilling at the Southern Structural Target included 23 RC holes for a total of 2,851 metres. These holes targeted multiple discrete areas defined by geochemical anomalies and historical drilling, confirming the presence of bedrock gold and identifying potential structures for further investigation.

Notably, all drilling was conducted along an east-west orientation to test the regional interpretation of north-south structures. The dominant trend of the gold nuggets, however, is also east-west and coincides with magnetic breaks identified in the geophysical data, highlighting the need for additional drilling to test this orientation.

Forward exploration plans at Riverina East include:

• Laboratory analysis of the coarse-grained gold rock sample to determine its origin (alluvial, supergene, or primary).
• Field mapping and sampling across the nugget patch to assess potential outcropping mineralisation.
• Drill planning at the Southern Structural Target to test the east-west trend defined by the nugget distribution.
• Interpretation of drone magnetic survey data.
• Assessment of geochemical results and evaluation of potential infill auger drilling to better define the SST anomaly.
• Further prospecting to delineate the full extent of the nugget patch, currently open to the north and south.

Viking Mines continues to advance exploration at Riverina East, targeting both established and newly identified structural trends to evaluate the gold potential of the Eastern Goldfields.

Shares of VKA traded at AUD 0.0080 at the time of writing on 20 October 2025.