Viking Mines Limited (ASX: VKA) has identified the potential for two new parallel mineralised structures at the First Hit Project, located 50km west of Menzies in the Western Australian Goldfields
The company has received assays of up to 36 g/t au from 11 holes drilled at the Jana’s Reward target as part of the 71-hole, 6,723m RC Drilling Programme at First Hit.
These latest assay results bring the total number of holes reported from the December quarter drill programme to 38 (54% of the total 71 holes drilled).
New high-grade assays received as part of the recent drilling programme include:
o VKRC0057: 1m at 36.49g/t Au from 17m
o VKRC0053: 1m at 17.83g/t Au from 16m
Managing Director and CEO, Julian Woodcock, said these high-grade gold intersections at the Jana’s Reward target are hosted in a newly identified structural position which is parallel to the First Hit structure (host to the historic high-grade First Hit gold mine and the recently discovered Hilton and Camp 1 shoots.
He said this success further supports the company’s strategy of identifying additional shoots and mineralised structures outside the limits of the previously defined First Hit mine to provide growth options for shareholders through discovery.
“I am extremely excited to have intersected high-grade mineralisation on the First Hit tenure in a new area, parallel to the First Hit structure,” Mr Woodcock said.
“The Jana’s Reward target was identified from a comprehensive geological review of the tenure using the magnetics, gravity and air core drilling data we collected in 2021.
“The first bedrock testing in this area were drilled in the December quarter RC drill programme and, with these results, has proved successful.
“To encounter >1oz gold grades in the drilling is extremely encouraging and reflects the potential for multiple narrow-vein, high-grade gold occurrences across the First Hit tenure.
“The intersection of two new distinct structures at Jana’s Reward, which are open in all directions, provides additional opportunities to add to the two shoots identified at First Hit North 1.
“These additional mineralised positions reaffirm the company strategy to identify new high-grade gold resources across the First Hit Project.
“Viking will add the greatest value to our shareholders through the discovery of new ounces. These results present Viking with further opportunities to achieve this.”
The Jana’s Reward target is located >1.5km to the North North-West of the First Hit Mine and was identified from the Air-Core (AC) drill programme completed in 2021 .
The two main zones of interest are associated with the high-grade results intersected in holes VKRC0053 and VKRC0057 of 1m at 17.84g/t Au and 2m at 18.71g/t Au respectively (reporting above a 0.5g/t Au cut-off).
The drilling programme targeted a series of repeat structures interpreted in the magnetic geophysics that are supported by anomalies identified in the AC drilling and historic auger sampling results.
To test the target, a drill line of 11 holes was planned in a heel to toe configuration across the structures. Drilling encountered a range of rock types confirming the variability observed in the magnetic stratigraphy.
The assay results received have confirmed broad >15ppb halos in 3 locations that may indicate potential mineralised corridors and structures. This is interpreted using the knowledge gained from the AC & DD programmes completed in 2021.
The width and tenor of these anomalies is much greater than those observed at the First Hit structure and provides encouragement for further follow up.
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