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January 20, 2025Viking Mines defines MRE for First Hit Gold Mine
Viking Mines has defined a mineral resource estimate of 83,800 tonnes @ 7 grams per tonne gold for 19,000 contained ounces for the historical First Hit Gold Mine in Western Australia.
CEO Julian Woodcock says the gold mineral resource, combined with the existing underground infrastructure, proximity to several operating mills and the current record gold price environment provides optionality to be assessed by Viking.
Viking Mines, with a market capitalisation of $11.95 million, intends to begin further assessments to determine potential strategies to extract value from the resource. The company plans to assess opportunities at depth with the aim of defining a JORC exploration target for down-dip extensions of the orebody, as well as determine de-watering and rehabilitation costs to gain access to the underground workings.
The First Hit Gold Project is centred around the historical First Hit Mine which sits along the Ida and Zuleika Shear zones in the Eastern Goldfields of Western Australia. The project, which covers 479.9km2, comprises 12 licences and three licence applications.
