VKA - highest grade tungsten hits to date from US project in Nevada
Our Investment Viking Mines (ASX: VKA | OTC: VKALF) just released another batch of assay results from its tungsten project in Nevada.
VKA's project produced tungsten in the 1940s and 50s, with a 360 tonne per day mill running between 1955 and 1956.
VKA’s now trying to build a restart plan around the project.
And is currently in the middle of its first drilling program on the project.
Today's assay results were the highest grades we have seen from the project so far and all came from in and around the old production areas (Linka):
(source)
As a reminder, VKA's earlier drill results included 14m at 0.56%, 18m at 0.47% and 13m at 0.53% tungsten (the last two were re-assayed higher today).
So the hits are now coming through consistently, which starts to give some confidence that there is scale to the mineralisation in this area.
Drilling has now finished up with 48 holes being completed, with the remaining assays due through December.
VKA's drill program targeted three things, with the results from today near the historic mining area:
So hopefully the drilling from the extensions and surrounds also comes in which if it were to do, would change the story here due to the potential scale.
VKA is already looking at a rapid restart opportunity here producing a concentrate from simple processing, so we have that running in parallel.
There is also a five part plan covering some other areas too which VKA outlined last week, we covered that here.
- Resource evaluation
- Metallurgy
- Processing
- Permitting
- Growth
You can also see our Deep Dive into some of the earlier thick high grade results here: VKA: Announces Thick Tungsten Drill Hits in Nevada, USA - 18m at 0.42% and 13m at 0.46%, proves mineralisation extends below historic USA tungsten mine.
What's next for VKA?
🔄 VKA’s first drill programme at US tungsten project
Here are the milestones we are tracking for the drill programme:
- ✅ Drill rig mobilisation to site
- ✅ Drilling starts - (visuals in August)
- 🔄 Assay results (12 assays received, 48 holes were completed, remaining assays expected throughout December) (source)
🔄 VKA’s rapid restart plan
We also want to see VKA progress its rapid mine restart strategy, VKA announced a 5 pillar strategy on this recently. (source)
Here are the milestones we are tracking on that front:
- ✅ Assay results from stockpiles + tailings dam
- ✅ Processing study results
- 🔄 Metwork optimisation (Ore sorting + flotation testwork).
🔄 US engagement
This is more of a corporate milestone we want to see VKA hit.
It’s hard to predict when any of these might happen, but we are hoping VKA can attract some sort of US government funding to help finance its project AND/OR attract strategic interest from inside the US.
Recently VKA again mentioned FAST-41 talks and also mentioned the investments that the US government is making to recreate a domestic tungsten supply chain:
(source)
