Viking Mines has secured full permitting and contractor engagement for its maiden 63-hole drilling campaign at the Linka Tungsten Project in Nevada, alongside metallurgical testwork exceeding recovery targets and a strategic divestment of its First Hit Gold Project.
- Linka metallurgy delivers 56.9% WO3 concentrate at 76% recovery
- Maiden 63-hole drilling fully permitted; rig mobilised
- Discovery of two new mineralised rock stockpiles near Conquest mine
- Ore sorting testwork shows promising separation; assays pending
- Divestment of First Hit Gold Project for up to $5 million
Linka Project Ready for First Drilling in Over 40 Years
Viking Mines Limited (ASX:VKA) has transitioned its flagship Linka Tungsten Project in Nevada from exploration to execution, securing full federal permitting and engaging a US-based contractor for a maiden 63-hole Reverse Circulation drilling campaign. The project, dormant beneath the surface for more than four decades, is now drill-ready with the rig mobilised and operations expected to commence imminently.
The drilling program targets three priority zones, including resource verification at Linka Main, maiden testing of the Linka Southwest extension beneath volcanic cover, and reconnaissance holes to validate geophysical anomalies. This comprehensive approach aims to confirm and expand historical high-grade tungsten intercepts, underpinning the project's development potential.
Metallurgical Testwork Surpasses Recovery Targets
Viking’s metallurgical optimisation testwork has produced a premium 56.9% WO3 concentrate at a 76% recovery rate from a 1.2% WO3 feed grade, a significant improvement over May’s 59.8% recovery. This 1.27-fold increase not only exceeds the company’s target of >70% recovery but also validates a simple, low-CAPEX gravity and flotation flowsheet as the foundation for future processing.
The testwork combined standalone gravity concentration with cleaner flotation circuits, confirming Linka mineralisation’s amenability to conventional processing techniques. Ongoing flotation reagent optimisation aims to push recovery above 80% while maintaining concentrate grade above 50% WO3, though scheduling delays have occurred amid heightened global tungsten testwork demand.
New Mineralised Stockpiles and Ore Sorting Potential
Field mapping and sampling uncovered two previously unrecognised mineralised rock stockpiles adjacent to the historic Conquest mine, with visual scheelite confirmed under UV light. Phase 1 sampling of the Linka Main stockpile returned assays up to 1.1% WO3, averaging 0.4%, comparable to historical mined grades. These surface-accessible stockpiles could provide a low-cost supplemental feed source, reducing upfront mining requirements.
Complementing this, TOMRA’s X-ray Transmission ore sorting testwork successfully separated Linka mineralisation into product and waste streams, directing 67.8% of the Conquest Pit and 56.1% of the Linka Stockpile sample mass to product fractions. Assay results for these sorted products are expected in the September quarter and could confirm ore sorting as a valuable pre-concentration step to enhance feed grades and operational efficiency.
Expanded Geophysics Expands Drill Targets
An expanded ground geophysical program employing gravity, magnetic, and induced polarisation surveys resolved multiple high-density anomalies correlating with known mineralisation at Linka Main, Hillside, and Conquest mines. Importantly, gravity highs beneath volcanic cover at the Linka Southwest extension provide compelling concealed drill targets, broadening the project’s exploration scope and de-risking the maiden drilling campaign.
Strategic Divestment Sharpens Focus and Strengthens Balance Sheet
Viking has executed binding agreements to divest its non-core First Hit Gold Project in Western Australia to First Au Limited (ASX:FAU) for up to $5 million. The transaction includes upfront cash and shares, plus performance rights linked to exploration milestones, while Viking retains exposure through its FAU shareholding. First Au commits to a minimum $500,000 drilling program on the tenements, funding exploration at no cost to Viking.
This divestment crystallises value from a non-core asset and allows Viking to concentrate its technical and financial resources on advancing Linka amid a favourable tungsten price environment, with APT prices near record highs around US$3,100 per MTU.
US Market Access and Corporate Updates
Viking’s shares now trade on the US OTC Markets under the ticker VKALF, providing North American investors with real-time USD trading without issuing new shares. This move aims to broaden the shareholder base and improve liquidity as the company advances its US tungsten portfolio.
Cash on hand at 30 June 2026 stood at $3.67 million, excluding $1.2 million due from the First Hit sale, positioning Viking with approximately $4.87 million in available funds. Quarterly expenditure focused on exploration activities at the Nevada projects, corporate administration, and director fees.
Bottom Line?
With maiden drilling imminent and metallurgical results exceeding expectations, Viking’s Linka Project is poised for a critical phase of resource definition amid robust tungsten market dynamics.
Questions in the middle?
- Will assay results from ore sorting confirm a viable pre-concentration step to lower processing costs?
- How will drilling results from concealed targets beneath volcanic cover impact the resource base?
- What are the implications of the First Hit divestment on Viking’s long-term strategic focus and capital allocation?