Viking Mines (ASX:VKA) Launches Phase 2 Drilling at First Hit Gold Project

Highlights

• Viking Mines has initiated Phase 2 drilling at the First Hit Gold Project in Western Australia.
• The program includes approximately 6,000m of high-impact RC drilling over the next month.
• Key targets include follow-up drilling at Bifrost and initial drill testing at the Central Duplex Target (CDT).
• Drilling is expected to take around six weeks, with assay results anticipated by late April 2025.

Viking Mines Limited (ASX:VKA) has commenced its Phase 2 drilling program at the First Hit Gold Project, located in Western Australia’s Eastern Goldfields region. This follows the successful completion of initial drilling in late January 2025.

The company has planned approximately 6,000m of reverse circulation (RC) drilling, focusing on further exploration at the Bifrost target and conducting drill testing at the high priority Central Duplex Target (CDT). The team has already mobilised to site, prepared the initial drill pads, and commenced drilling operations.

Drilling has commenced at CDT, which covers a 2.8km strike length and a 0.6km-width of favourable greenstone geology. Magnetic geophysics have revealed complex structural features, an overlapping magnetic low, a 6km-long gold anomaly (>10ppb) and a 3km-long arsenic anomaly (>10ppm) in soil anomalies.

Drilling is expected to be completed within six weeks with assays anticipated in late April 2025.

Initial Bifrost drilling returned significant mineralisation

The initial wide-spaced drilling program at Bifrost was concluded in late January 2025, returning significant mineralisation in three drill holes, with results spanning drill traverses 1.7 km apart. In response to these promising findings, approximately 1,500m of additional drilling has been planned for follow-up exploration.

Significant results included-

• VKRC0068: 17m at 1.1g/t Au from 28m, including:
  • 1m at 1.6g/t Au from 28m; and
  • 2m at 3.1g/t Au from 34m; and
  • 3m at 1.3g/t Au from 38m
• VKRC0083: 27m at 0.4g/t Au from 69m, including:
  • 1m at 2.9g/t Au from 76m,
  • 1m at 1.1g/t Au from 81m; and
  • 1m at 1.5g/t Au from 91m
• VKRC0103: 23m at 0.4g/t Au from 97m, including:
  • 5m at 1.0g/t Au from 102m; and
  • 3m at 1.3g/t Au from 115m

The findings from the Phase 1 drill program at Bifrost and the association of arsenic with the VKRC00831 hole mineralisation highlight the target’s potential.

Follow-up drilling at Bifrost will commence after receiving the final assay results, including those from the recently completed infill auger program.

Plans ahead

VKA shares trade higher

VKA shares were trading at AU$0.009 per share, up over 12.5%, at the time of writing on 12 March 2025.