AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- Viking has identified a high-grade visible gold intercept in the latest assay results from its Riverina East Project.
- Drillhole VKRC0180 at the Bifrost Target returned a high-grade intercept of 2m at 23.6g/t gold with visible gold, supported by broader anomalous gold zones.
- The gold mineralisation is hosted within dolerite, a rock type associated with major gold deposits.
- Mineralisation at VKRC0180 remains open along strike and down dip with immediate follow-up drilling planned to test for high-grade extensions.
Viking Mines Limited (ASX:VKA) has announced a high-grade visible gold intercept from recent assay results at its Riverina East Project. These results stem from 72% of the assays returned from the 5,956m Phase 2 exploration program, which included 33 drillholes, covering 4,308m. The campaign targeted the Central Duplex Target (CDT) and involved both infill and step-out drilling at the Bifrost Target.
Notably, assay results from hole VKRC0180 at Bifrost has confirmed the high-grade gold intercept of 2m at 23.6g/t Au from 124m (using a >0.5g/t Au cut off), with visible gold observed. This intercept lies within three broader anomalous gold zones exceeding 50ppb, including:
- 21m at 0.4g/t Au from 96m,
- 6m at 8.0g/t Au from 123m, and
- 8m at 0.2g/t Au from 135m.
The presence of visible gold, along with the extent of the broader gold anomalies, suggests significant volumes of mineralising fluid flow through the host rocks, highlighting the high discovery potential of the area. Furthermore, the broader zones support the geochemical data collected through auger sampling and the exploration model being followed.
Notably, mineralisation remains open along strike and down dip. Planning is underway for immediate follow-up drilling to test for high-grade extensions from VKRC0180.
Gold Potential at Riverina East’s Bifrost Target
The Phase 2 drilling program at the Bifrost Target, included two new drillholes, VKRC0179 and VKRC0180, along with an extension of VKRC0102. These were designed to follow up on earlier results from VKRC0103, which intersected 23m at 0.4g/t Au from 97m, including 5m at 1.0g/t from 102m and 3m at 1.3g/t from 115m.
Both new holes delivered encouraging results, intersecting broad zones of anomalous to elevated gold mineralisation associated with quartz veining, biotite alteration, and sulphides, hosted within a favourable dolerite rock unit.
A 2m thick quartz vein at 111m is of particular interest, as it supports the potential for thicker, gold-bearing structures within the target area.
Mineralisation style
Narrow vein, high-grade gold mineralisation style is typical of deposits along the Zuleika Shear, such as Ora Banda Mining’s nearby Riverina Deposit. The vein thickness observed in VKRC0180 is consistent with these regional analogues, highlighting the Bifrost Target's significant exploration upside.
Multiple vein positions within a single hole also suggest the potential for intersecting several mineralised zones across the broader target area.
Additional targets
Further upside potential has been identified approximately 700m west of Bifrost, where VKRC0178 intersected 1m at 3.3g/t Au from 51m, situated ~35m up-dip from previously reported VKRC0117: 1m at 2.3g/t Au from 98m. This result confirms a second structural target for follow-up drilling. VKA is interpreting the geology at this location to plan follow up activity for next drilling program.
data source: VKA update
VKA shares trade higher
Post the update, VKA shares traded at AU$0.008 per share, up over 14%, at the time of writing on 2 May 2025.
