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Highlights
- Viking Mines advanced the Riverina East Gold Project with an inferred resource estimate of 83.8kt at 7.0g/t Au for 19.0koz.
- An underground study defined an additional inferred resource of 53.1kt at 7.2g/t Au for 12.4koz at Riverina East.
- Phase 1 drilling at Bifrost delivered intercepts including 27m at 0.4g/t Au and 17m at 1.1g/t Au, confirming a steeply dipping gold structure.
- Phase 2 drilling recorded high-grade intercepts such as 2m at 23.6g/t Au from 124m and 6m at 8.0g/t Au from 123m at Bifrost South.
- Infill auger drilling at Bifrost identified two significant gold anomalies exceeding 400m and 300m in strike, respectively.
- Viking secured 100% ownership of the Canegrass Battery Minerals Project.
- Metallurgical testwork at Canegrass achieved 89.3% vanadium recovery and identified gold for the first time with assays up to 0.33g/t Au.
- The company expanded its portfolio with the Narndee Project, considered prospective for gold, PGEs, and Ni/Cu sulphides.
In FY25, Viking Mines Ltd (ASX:VKA) made significant advances in gold exploration and project consolidation. The company focused its efforts progressing the newly named Riverina East Gold Project in Western Australia’s Eastern Goldfields, while also expanding its broader exploration portfolio.
Riverina East Gold Project – Resource Growth
The company initiated a strategic review of its ~480km² landholding on the Zuleika Shear, renaming the First Hit Project to Riverina East to reflect its potential beyond the historic mine footprint. This review led to major drilling programs and technical studies that have materially advanced the project.
MEC Mining was engaged to complete a Mineral Resource Estimation (MRE), which defined a global inferred mineral resource of 83.8kt at 7.0g/t Au for 19.0koz.
In addition, an underground mining study has further defined an inferred resource of 53.1kt at 7.2g/t Au for 12.4koz, constrained within mine design parameters.
Regional Drilling Campaigns
Throughout FY25, two phases of Reverse Circulation (RC) drilling were conducted by Topdrill at Riverina East, part of a larger ~20,000m program planned across the 25km strike length of the Zuleika Shear under Viking’s control.
Bifrost Anomalies Defined
Shallow infill auger drilling at the Bifrost prospect identified two significant gold anomalies:
- a >400m long >40ppb gold anomaly, overlapping with arsenic mineralisation
- a >300m long >40ppb anomaly within a broader >700m 20ppb anomaly.
These results support the potential for broader mineralisation within the region.
Canegrass Battery Minerals Project – 100% Ownership Secured
In the September 2024 quarter, Viking completed the acquisition of Flinders Canegrass Pty Ltd from ASX-listed Red Hawk Mining Ltd, thereby securing full ownership of the Canegrass Project. This transaction eliminated farm-in expenditure commitments and positioned Viking with complete control over development.
Metallurgical testwork advanced during the year:
- Stage 2 Testwork - Roasting and leaching achieved 89.3% vanadium recovery, producing 15 litres of vanadium solution, now undergoing purification to high-purity V₂O₅ flake and vanadium electrolyte.
- Stage 3 Testwork - Testing confirmed the potential for copper, nickel, and cobalt recovery, while also identifying gold for the first time at Canegrass, with assays up to 0.33g/t Au.
Narndee Project – Exploration Pipeline Expansion
Viking added the Narndee Project, located 85km ESE of Mt Magnet, covering ~75km². The ground is considered prospective for gold, PGEs, and Ni/Cu sulphides.
Early auger sampling included 415 holes over a 7km strike and additional 250 holes at Canegrass (more than 1.8km strike) was concluded in FY25, with results pending for gold and multi-element.
VKA shares were trading at AUD 0.007 per share at the time of writing on 10 September 2025.
