Viking Mines (ASX: VKA) has reported a high-grade gold intercept at its Riverina East project in Western Australia, discovered during a ‘greenfield’ drilling program funded via a ‘drill-for-equity’ agreement with Topdrill. Assay results from 33 drill holes, representing 72% of the phase 2 exploration, confirmed a significant intercept at the Bifrost target of 2m at 23.6 grams per tonne gold from 124m, including visible gold. This intercept sits within broader anomalous gold zones, indicating substantial mineralising fluid flow.
The high-grade intercept remains open along strike for 1.7km north and 1.1km south, indicating further exploration potential. According to CEO Julian Woodcock, the visible gold discovery in an underexplored area confirms the potential for high-grade gold within a prolific gold district, coinciding with record gold prices. Follow-up drilling is planned at Bifrost to test for extensions of the gold hit. The company is also undertaking high-resolution magnetic geophysics to refine structural interpretation and identify priority areas for future drilling and assessing an underground opportunity at the First Hit mine, situated along the Ida and Zuleika Shear zones.
