Riverina East Project
(formerly First Hit Gold Project)

High-grade Inferred Mineral Resource Estimate (MRE) of 83.8k tonnes at 7.0g/t Au for 19.0k ounces (JORC 2012) with significant regional potential.

The Riverina East Project is centred around the historic high-grade First Hit gold mine situated along the prospective Ida and Zuleika Shear zones in the Eastern Goldfields of Western Australia. Viking controls over 25km strike of the prospective Zuleika Shear and has been using geophysics, auger and reverse circulation drilling to narrow the focus to highly anomalous target zones.

The First Hit gold mine was operated by Barra Resources in 2002 and at a time of depressed gold prices of US$320/oz, or approximately 10% of the current gold price.

The First Hit mine produced ~30koz ounces of gold at an average grade of ~7.7g/t Au. There was a prolonged period of no modern exploration activity, which created a significant opportunity for Viking. The Company is focused on delivering exploration programmes to test near mine extensions and regional targets around the Riverina East Project with the objective of defining fertile structures and discovering gold ounces.

The Project area is well serviced by infrastructure and is located 50km west of the sealed Goldfields highway and the township of Menzies.

The nearest operating gold processing plant is the Davyhurst Mill 50km to the south, owned and operated by Ora Banda Mining (ASX:OBM). The nearest operating gold mine is the Riverina open pit, located 8km south of the First Hit gold mine, also owned by OBM.

Map of Viking Mines tenure, neighbouring ASX listed tenement holders and the location of significant gold mines in respect to the Company’s Project. Note the extensive strike length of the Zuleika Shear on Viking controlled tenure. Background image is Total Magnetic Intensity 1VD RTP.
Map showing the 25km strike length of the Zuleika Shear controlled by Viking, the location of known gold deposits, and the structurally complex geological targets being tested for gold mineralisation. Background image is 1VDPRTP magnetics.
Map showing the location of planned drilling at the Central Duplex Target and results from previous drilling at the Bifrost Target. Note the large Arsenic and gold anomaly at the CDT and magnetic low being targeted. Background image magnetics RTP with 1VD overlay.
Cross section through drill traverse 1 at the Northern Duplex Target.
Cross section through drill traverse #2 at the Bifrost Target with multiple >40ppb zones highlighted.

Significant Gold Potential

Viking is undertaking an analysis of the gold production potential at First Hit, assessing the remnant stopes using current gold price and operating costs. Whilst the tonnage may be modest, the value of mining it may be potentially significant for Viking given the current extremely strong gold price. Underground development would also open up the potential to more cost effectively test depth extensions from underground drill positions.

Viking Mines completed extensive gold focussed drill programmes across the Riverina East Project area in 2021, which included ~3,900m of Diamond Drilling, ~5,000m of Air core and ~6,700m of Reverse Circulation drilling. The focus of these drill programmes was to identify narrow-vein, high-grade gold shoots, with a goal of replicating the high-grade shoot of the historic First Hit Gold Mine.

Standout intercepts from the various drill programmes testing extensions to the historic mine workings include:

  • VDD013: 5.0m at 3.67g/t Au including 1.0m at 11.16g/t Au
  • VDD015: 7.06m at 5.93g/t Au, including 0.5m at 71.64 g/t Au
  • VDD016: 1.0m at 13.52g/t Au
Long section showing results from the 2021 Diamond Drilling programme and historical drilling results.

2025 Exploration Priorities

The Company has identified a 25km strike extent of the Zuleika Shear to the east of the First Hit Mine. The Zuleika Shear is a prolific gold structure within the Eastern Goldfields of WA with numerous gold deposits related to it.

The Company is systematically using geophysics, auger drilling and RC drilling to focus in on potential target zones. Drilling in late 2024 and early 2025 has identified mineralised structures at the Bifrost Prospect, Central Duplex Target, Southern Duplex Target and Southern Structural Target that it intends to drill in 2025.

Lithium Prospectivity to be assessed as prices improve

The Riverina East Project is also highly prospective for lithium. In a previous 1,220 hole auger programme, Viking defined nineteen targets, with a peak value of 138 ppm Li encountered. However, the Company is currently prioritising gold exploration at the project with a view to revisit the lithium targets when lithium prices improve.

FOLLOW US twitter linkedin