Viking Mines Uncovers High-Grade Gold at Riverina East, Eyes Further Expansion

May 02, 2025 12:44 PM AEST | By Team Kalkine Media

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Viking Mines Uncovers High-Grade Gold at Riverina East, Eyes Further Expansion — Image source: shutterstock

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Highlights

Viking Mines hits visible high-grade gold at Bifrost target

Assays confirm strong gold zones across 33 drill holes

Follow-up drilling and geophysical surveys underway

Viking Mines (ASX:VKA) has reported a significant milestone in its ongoing exploration efforts at the Riverina East gold project in Western Australia, with high-grade gold intercepts including visible gold now confirmed at the Bifrost target.

This latest advancement comes as part of a Phase 2 drilling program, carried out under a recently announced “drill-for-equity” deal. The agreement enables Viking Mines to manage costs by issuing company shares in exchange for drilling services, helping to accelerate exploration progress across key targets.

So far, the company has completed assays for 33 drill holes spanning 4,308 metres—around 72% of the current campaign. Encouragingly, assays have delivered a standout result: 2 metres at 23.6 grams per tonne (g/t) gold from 124 metres, including visible gold mineralisation. This intercept sits within broader anomalous zones that include:

21 metres at 0.4g/t gold from 96m

6 metres at 8.0g/t gold from 123m

8 metres at 0.2g/t gold from 135m

The high-grade hit at Bifrost, part of the Riverina East project, lies in an under-explored section of the terrain and remains open along strike—1.7 kilometres to the north and 1.1 kilometres to the south. The location's geological profile, positioned within the prolific Ida and Zuleika Shear zones, provides further reason for optimism.

Julian Woodcock, CEO of Viking Mines, noted that the scale and nature of the gold anomaly suggest extensive fluid movement through the host rocks, pointing to substantial mineralisation potential. These findings align with the company’s goal of unlocking high-grade gold assets in one of Australia’s most productive gold belts—especially timely given the strength in gold markets and interest in ASX dividend stocks.

Looking ahead, Viking is planning immediate follow-up drilling to test the high-grade extensions at Bifrost. In parallel, a high-resolution magnetic geophysical survey is being finalised to better define structural trends across the target area. The company is also assessing underground development possibilities at the nearby historical First Hit gold mine.

The progress at Riverina East comes amid rising attention on mining explorers within the broader ASX200 index, as investors track opportunities in both growth and yield-focused sectors.

With drilling results pointing to untapped potential and strategic follow-up plans underway, Viking Mines continues to solidify its presence in Western Australia's dynamic gold exploration landscape.

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