Viking’s Linka drilling opens a stronger path for Nevada tungsten

Linka drilling confirms mineralisation below historic workings

Viking Mines Limited (ASX:VKA) has cleared an important exploration hurdle at its Linka tungsten project in Nevada, with all five assayed Linka Main holes returning significant tungsten mineralisation. The strongest results included 14 metres at 0.56% WO₃ from 40 metres in LKRC0002, 18 metres at 0.42% WO₃ from 62 metres in LKRC0005 and 13 metres at 0.46% WO₃ from 70 metres in LKRC0006.

The intercepts sit beneath, and in places within the shallow crown pillar above, historic mine workings. Estimated true widths ranged from about three to 16 metres, although the company has not yet defined a JORC Mineral Resource at Linka. The results extend the earlier Linka assay batch, which had reported 18 metres at 0.42% WO₃ and 13 metres at 0.46% WO₃ in two down-dip holes.

Seven Linka holes remain pending assay

Viking completed 20 holes during the September quarter: 14 at Linka Main, four at the Southwest Extension and two regional reconnaissance holes. Seven Linka Main holes had visually logged scheelite but were still awaiting laboratory results at quarter end. Drilling recommenced in October after a temporary pause for rig maintenance and a crew break, with the company planning further work at the Southwest Extension and regional targets.

The Southwest drilling reached the targeted limestone-monzonite contact beneath younger volcanic cover, but no scheelite had been observed in those holes at the time of the report. That keeps the contact in the exploration queue rather than treating it as an established mineralised extension. Laboratory assays, rather than visual logging, remain the key test of grade and continuity.

Ore sorting and bulk sampling move Linka toward processing tests

The development workstream is advancing alongside drilling. TOMRA X-ray transmission sorting lifted the Conquest Pit sample from a calculated feed grade of 0.61% WO₃ to 1.05% in one product combination, with 62.1% tungsten recovery. A broader product combination achieved 93.0% recovery at 0.75% WO₃. The Linka stockpile sample delivered a 1.25 times feed-grade upgrade at 85.9% recovery.

Those recoveries refer to tungsten captured in sorted products and fines, not recovery into a final saleable concentrate. Further gravity and flotation work is underway. The company also received Bureau of Land Management approval to collect up to 1,000 short tons, or approximately 907 tonnes, from Linka’s historical surface stockpiles for toll treatment and concentrate sampling with prospective US ammonium paratungstate refinery counterparties. The work builds on the Linka metallurgy milestone, which had produced a 56.9% WO₃ concentrate at 76.0% combined recovery.

Conceptual plant study leaves economics unresolved

Mineral Technologies has completed a conceptual study for a modular gravity and flotation plant with nominal throughput of 43 tonnes per hour and an upper design capacity of 300,000 tonnes a year. The proposed flowsheet includes crushing, milling, gravity concentration, flotation and concentrate dewatering, with contract crushing identified as an option to reduce upfront capital.

The study is preliminary: it is not a production target or economic assessment, and Viking disclosed no capital cost, operating cost or financial forecast. Its design also used a 60% scheelite recovery assumption into a 50% WO₃ concentrate, while the company says June-quarter testwork had achieved 76.0% recovery. The distinction matters because a processing concept can show technical plausibility without establishing that a mine would be economic.

Cash position improves, but exploration remains funding-sensitive

Viking held A$3.16 million in cash at 30 September after a net quarterly cash decrease of A$0.50 million. It subsequently received A$902,000 from selling shares received in the First Hit Gold divestment, taking the stated combined cash balance to A$4.06 million. Exploration and evaluation spending was A$1.34 million during the quarter, primarily on Linka drilling and metallurgical testwork.

The Appendix 5B calculates approximately 1.8 quarters of funding based on current net operating outflows. Viking said it expects December-quarter expenditure to be lower, does not currently plan to raise further cash and can draw on more than A$750,000 of additional equities. That gives the company room to pursue the next batch of assays and testwork, but the funding calculation will become more consequential if drilling, bulk sampling or processing activity stays at September-quarter intensity.