VKA hits critical mineral tungsten extensions to previously producing US mine

Published 10-SEP-2026 12:01 P.M.

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Our US critical minerals Investment Viking Mines (ASX: VKA | OTC: VKALF) just received its first batch of drill results from its first ever drill program on its Nevada tungsten project.

VKA's main asset is the Linka project - a previous tungsten producer.

~123,000 tonnes at 0.54% tungsten was mined there in the 1940s and 50s.

Mining only stopped when the US government ended its tungsten buying program, leaving stockpiles of mineralised material sitting at surface.

VKA is currently drilling that project right now, the first drilling in over 40 years.

Today VKA received the assays for the first hole - hitting 14m at 0.56% tungsten.

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(source)

The positive is that the 14m hit correlated well with the visual estimates VKA put out a few weeks ago - visuals are possible for tungsten holes because mineralisation glows under UV light:

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(source)

VKA also included a brief 2 minute explainer of the result and the ongoing drilling, which is now 16 holes completed.

The first regional exploration hole has also been drilled, and appears to have validated VKA's exploration model.

Assays are required to confirm this, but early signs are positive, which could open up a much larger resource footprint IF it comes in.

You can see the video via the link in the announcement:

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(source)

Here is a cross section of the assay received, showing mineralisation continuing beyond the prior workings:

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(source)

And a look at the drilling near the historic workings, plus the regional exploration hole:

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(source)

And here is the drilling plan from the start of the program, targeting 3 areas:

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(source)

The next batch of assay results is expected mid to late September.

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:

✅ Earthworks
✅ Drill rig mobilisation to site
✅ Drilling starts - visuals have been reported (source)
🔄 Assay results (first assay received today, more expected to follow from mid September) (source)

Here is the drilling plan from the drilling underway:

(source)

You can see our Deep Dive leading into the drilling here: VKA to start drilling for tungsten in the US any day now...?

🔄 VKA’s rapid restart plan

We also want to see VKA progress its rapid mine restart strategy.

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). Continuing to optimise processing choices
🔲 Updates on the Bulk ore collection, transport, processing and results

🔄 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.