Viking Mines (ASX:VKA) to start spinning drill at First Hit Gold Project, shares jump

November 06, 2024 11:59 AM AEDT | By Sonal Goyal

Viking Mines (ASX:VKA) to start spinning drill at First Hit Gold Project, shares jump — Image source: Company update

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Highlights

Topdrill has been engaged for 5,000m reverse circulation (RC) drilling at the First Hit Gold Project.

Viking Mines’ landholding in the Eastern Goldfields now spans ~283 km², with additional tenement applications set to expand the total area to ~480km².

Initial drilling will focus on priority targets within the company’s 25km stretch of the Zuleika Shear.

Shares of Viking Mines Limited (ASX:VKA) jumped by nearly 10% to AU$0.011 during morning trading hours on Wednesday (6 November 2024) following an update on drilling at the First Hit Gold Project. The company has engaged Topdrill, a drilling contractor, to conduct exploration at the project, located in western Australia.

The initial drilling will focus on testing priority targets along a 25km strike of the Zuleika Shear, an area that has seen limited modern exploration. In line with the company’s strategy to unlock the value of its high-grade gold assets, ~5,000m of reverse circulation (RC) drilling is planned to commence in November 2024.

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