Low-Grade Drilling Results Challenge Viking Mines’ Riverina East Gold Prospects

Exploration Momentum Builds at Riverina East

Viking Mines Limited (ASX – VKA) has reported significant progress in its September 2025 quarter at the Riverina East Project in Western Australia, a key asset along the prolific Zuleika Shear Zone. The company’s exploration efforts yielded 120 gold nuggets weighing a combined 54.7 grams, recovered from an expanding nugget patch now covering an area of 600 by 500 metres. This discovery reinforces the prospectivity of the Southern Structural Target (SST), an area already known for historic gold intercepts and anomalous soil geochemistry.

These nuggets, including the largest at 3.37 grams, were found within a zone that aligns with a previously untested east-west structural trend. This orientation contrasts with the north-south focus of prior drilling, suggesting a fresh geological perspective that could unlock new mineralisation pathways.

Drilling and Survey Insights

During the quarter, Viking completed its Phase 3 reverse circulation (RC) drilling program, comprising 33 holes totaling 4,576 metres across the Bifrost South and Southern Structural targets. While the drilling confirmed the presence of gold-hosting structures, assay results returned only low-grade gold intercepts, with no high-grade zones identified to date. The highest reported intercept was 1 metre at 1.7 grams per tonne at Bifrost South, and 1 metre at 1.4 grams per tonne at the Southern Structural Target.

Complementing the drilling, a drone magnetic survey was conducted over the Bifrost Target area to refine structural interpretations. This high-resolution geophysical data is expected to guide future drill targeting, particularly in light of the newly recognised east-west nugget trend that correlates with magnetic breaks.

New Discoveries and Next Steps

Post-quarter, Viking’s prospecting efforts uncovered a specimen rock sample with extensive coarse, disseminated gold. Laboratory analyses are underway to determine whether this gold is primary mineralisation or derived from secondary processes, a distinction critical to assessing the deposit’s economic potential.

Looking ahead, Viking plans a targeted follow-up field program involving detailed mapping, sampling, and drilling to test the east-west oriented structures indicated by the nugget distribution and magnetic data. This strategic pivot could unlock new zones of mineralisation previously overlooked by north-south oriented drilling campaigns.

Financial and Corporate Position

Viking Mines maintains a robust cash position of $2.08 million as of 30 September 2025, providing a solid foundation for ongoing exploration and corporate activities. The company reported a net cash outflow of $0.55 million for the quarter, primarily driven by exploration expenditure and corporate costs. Payments to related parties amounted to $198,000 during the period.

Meanwhile, Viking continues to evaluate acquisition opportunities to complement its existing portfolio, aiming to secure mature assets with strong potential to enhance shareholder value.