2m at 23.6g/t Au with Visible Gold Highlights Viking’s Riverina East Potential

A Breakthrough in an Underexplored Gold Corridor

Viking Mines Limited (ASX: VKA) has announced a significant high-grade gold intercept from its ongoing exploration at the Riverina East Project in Western Australia. The highlight comes from the Bifrost Target, where hole VKRC0180 returned 2 metres grading 23.6 grams per tonne (g/t) gold, notably featuring visible gold. This intercept is part of a broader mineralised system that remains open both along strike and down dip, suggesting considerable potential for resource growth.

The Riverina East Project, formerly known as the First Hit Project, sits along a 25-kilometre strike of the prolific Zuleika Shear, a structural corridor renowned for hosting multiple high-grade gold deposits. Viking’s discovery at Bifrost aligns with the style of mineralisation seen in nearby camps operated by Ora Banda Mining, including the Riverina/Mulline Camp with over 1.3 million ounces of gold.

Geological Context and Mineralisation Style

The mineralisation at Bifrost is hosted within dolerite rock, a brittle mafic unit that contrasts with surrounding ultramafic rocks and is known to be a favourable host for significant gold deposits. This is exemplified by the Defiance Dolerite at the multi-million ounce St Ives Gold Camp. The presence of quartz veining, biotite alteration, and sulphides in the drill core supports the interpretation of a robust mineralising fluid system.

Beyond the headline intercept, VKRC0180 also delivered additional gold mineralisation including 1 metre at 3.2 g/t and 1 metre at 1.5 g/t gold, all within broader anomalous zones. These broader zones, extending up to 21 metres at 0.4 g/t, indicate a significant volume of mineralising fluids and reinforce the prospectivity of the target.

Phase 2 Drilling Progress and Central Duplex Target Insights

Viking has completed approximately 5,956 metres of reverse circulation drilling in Phase 2, with assays received for 72% of this program. Alongside Bifrost, the Central Duplex Target (CDT) has been tested with 31 holes over wide spaced traverses. While no significant high-grade intercepts have yet emerged at CDT, multiple gold anomalous zones and pathfinder element signatures typical of orogenic gold systems have been identified, warranting further investigation.

Drilling at Bifrost also confirmed a second target structure with hole VKRC0178 returning 1 metre at 3.3 g/t gold, approximately 35 metres up-dip from a previously reported intercept. This adds complexity and opportunity to the structural framework being explored.

Strategic Location and Next Steps

The Riverina East Project benefits from proximity to existing infrastructure and nearby operating gold mines, including the Davyhurst Mill owned by Ora Banda Mining, just 40 kilometres to the south. This strategic location enhances the potential economics of any future resource development.

Viking’s immediate plans include receipt and interpretation of remaining assay results, follow-up drilling to test high-grade extensions from the VKRC0180 intercept, and completion of high-resolution magnetic geophysical surveys to refine targeting. Additionally, an underground mining assessment at the historic First Hit Mine is underway, potentially informing future development scenarios.

Managing Director Julian Woodcock emphasised the significance of the results, noting the discovery confirms the potential for high-grade gold in a prolific district at a time of record gold prices. He expressed optimism about upcoming assay results and the ongoing exploration campaign.