Viking Mines

Riverina East Project

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ASX:VKA

The First Hit gold mine was operated by Barra Resources in 2002 at US$320/oz, or approximately 10% of the current gold price, producing ~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 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, is owned and operated by Ora Banda Mining (ASX:OBM). The nearest operating gold mine is the Riverina open pit, located 8km south, also owned by OBM.

Viking is undertaking an analysis of the gold production potential at First Hit, assessing the remnant stopes using current gold price and operating costs. 

The Company engaged an external engineering consultancy that specialises in underground mine design and evaluation to assess the First Hit Global Inferred (JORC-2012) MRE of 83.8k tonnes at 7.0g/t Au for 19.0k ounces.