- Viking Mines (VKA) strikes multiple thick zones of magnetite at the Kinks South target area within its Canegrass project in WA
- The company drilled 13 holes for 2214 metres at the Kinks South target along a more than 1.1-kilometre trend
- The program returned multiple and consistent thick zones of massive magnetite, which is known to host vanadium mineralisation
- The 6000-metre drill program is set to continue, with assays expected to be returned throughout July and August
- Viking Mines last traded at 1.1 cents
Viking Mines (VKA) has struck multiple thick zones of magnetite at the Kinks South target area in Western Australia’s Murchison region.
The company has been drilling across five exploration target areas within its Canegrass battery minerals project in a bid to grow its mineral resource estimate (MRE) of 79 million tonnes at 0.64 per cent vanadium pentoxide.
To date, the company has drilled 13 holes for 2214 metres at the Kinks South target along a 1.1-kilometre trend.
The program returned multiple and consistent thick zones of massive magnetite, which is known to host vanadium mineralisation within the project.
Each hole encountered magnetic intervals, including four zones totalling 63 metres of strongly magnetic horizons, containing three bands totalling 42 metres of logged massive magnetite, remaining untested to the west and south.
It also struck three zones totalling 61 metres of strongly magnetic horizons containing four bands totalling 35 metres of logged massive magnetite.
“The drilling underway at Canegrass is delivering positive indications ahead of receiving assays,” Viking Mines Managing Director and CEO Julian Woodcock said.
“The Kinks South target area has the scale and potential to deliver substantial resources towards the company’s strategic objective of defining a high-grade resource greater than 30 million tonnes at more than 0.9 per cent vanadium oxide.”
The company’s 6000-metre drill program is due to continue, with assays expected to be returned throughout July and August.
VKA last traded at 1.1 cents.