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)

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.

Prior to closure of the First Hit gold mine by Barra Resources in 2002 and at a time of depressed gold prices of US$320/oz, the First Hit mine produced ~30koz ounces of gold at an average grade of ~7.7g/t Au. No modern exploration activity has been conducted in the past 18 years and creates 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, 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.

Gold Potential

The First Hit Gold Mine historically produced ~30koz of gold at an average grade of ~7.7g/t Au during a time of depressed gold prices of US$320oz. Barra Resources closed the mine down in 2002, resulting in the project area receiving no modern exploration programmes to test near mine extension and regional targets for close to 18 years.

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 include:

720m North of the First Hit historic mine workings:

  • VKRC0023: 2m at 9.67g/t Au from 26m
  • VKRC0066: 2m at 4.26g/t Au from 75m

220m North of the First Hit historic mine workings:

  • VKRC0008: 1m at 4.56g/t Au from 64m
  • VKRC0009: 1m at 2.55g/t Au from 98m

Jana’s Reward, new shallow high-grade results:

  • VKRC0057: 1m at 36.49g/t Au from 17m
  • VKRC0053: 1m at 17.84g/t Au from 16m

Extensions to Historic Mine Workings:

  • 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.
Long section looking to the west showing face samples on each of the mined levels, the decline access in the footwall to the mineralisation and selected high-grade face sample results

Auger Programme Identifies Priority Lithium Targets

The Riverina East Project is also highly prospective for lithium. In a previous 1,220 hole auger programme, Viking defined nineteen targets, eight of them high-priority, 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.

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