News: Viking Mines extends agreement to monetise Akoase gold project

Viking Mines (ASX:VKA) has extended the exclusivity agreement with Ghanaian company Akroma Gold Co. Ltd to acquire the Akoase Gold Project by a further 30 days to allow existing discussions to mature.

Akroma were granted a 3 month period of exclusivity to undertake due diligence on Akoase but were delayed in undertaking their due diligence site visit.

Akroma, the owner of the Sian gold project about 12 kilometres northwest of Akoase, paid a US$90,000 option fee for their original exclusivity period.

The Akoase Project has a JORC 2012 Inferred Resource of 790,000 ounces of contained gold.

It is located 150 kilometres north of Accra, and 25 kilometres from Newmont’s Akyem gold mine on the margins of the Ashanti Gold Belt, one of the most prolific gold bearing provinces in the world.

Akoase is considered a non-core project for Viking, which is focused on completing the acquisition of Auminco Mines and progressing development of the Berkh Uul Bituminous Coal Project in Mongolia.

Sian has historically reported an NI 43-101 Indicated and Inferred resource of 396,000 ounces. In July 2013, Midlands Minerals (CVE:MEX) sold their 65% interest in the Sian gold project for a cash price equivalent to US$13.20/oz.

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