VKA hits more visible tungsten days after restarting Nevada drilling
Our US tungsten Investment Viking Mines (ASX: VKA | OTC: VKALF) just hit more wide zones of visible tungsten at its project in Nevada.
These visuals were from the first two holes drilled since the rig returned to site last week, to finish the remainder of the program.
Both holes hit visible scheelite (the tungsten containing mineral and it glows under UV light which allows VKA to get an initial look of the drilling straight out of the ground).
The best visual today was a 14.5m continuous interval of visible scheelite from just 16.8m downhole, including a very strong 3m zone.
The second hole delivered 7.6m of visible scheelite from 48.8m.
(source)
As always, visual estimates are no substitute for assays and the samples from these two holes are headed to the lab with results for these expected in 6 to 8 weeks.
But the UV sighter has been reliable so far in giving a sign as to where the tungsten is.
In every hole assayed to date, the tungsten mineralisation has correlated closely with the zones logged under UV.
Those assays include 14m at 0.56% tungsten, plus 18m at 0.42% and 13m at 0.46% from below the old workings (we covered those results in our deep dive here).
Both of those new holes were testing below the old workings and the historic open pit.
26 holes have now been completed, with assays for another seven holes expected before the end of October. (source)
A quick overview of the project VKA’s drilling:
VKA's project produced tungsten in the 1940s and 50s, with a 360 tonne per day mill running on site between 1955 and 1956.
Production stopped in 1956 when the US government suspended its tungsten buying program, not because the tungsten ran out.
VKA is now looking to restart the project using a simple, gravity-led processing plant.
So to feed the potential plant, it needs to show that it has a tungsten resource to do so which is the main focus of this drill program.
So far VKA has drilled 20 holes, targeting three of its target areas:
- Mineralisation around the existing workings (14 holes)
- Potential extensions to the old workings in the southwest direction (4 holes), and
- The regional targets (2 holes)
VKA has released assays for five holes from the program so far, all showing decent widths and good grades, with the longer intervals grading 0.4% tungsten or better.
The best was 14m at 0.56% tungsten, with the holes below the old workings hitting 18m at 0.42% and 13m at 0.46%.
4 of the holes hot 6m+, with grades over 0.4% (containing higher grades within):
(source)
We covered the recent results released in our deep dive here: VKA: Announces Thick Tungsten Drill Hits in Nevada, USA
Assays from the rest of the holes drilled to date are still pending (VKA said today that 7 assays are expected before the end of this month, starting with the holes around the old workings).
Meanwhile the remaining drilling is expected to take 2 more weeks, with 5 holes completed since the recommencement last week.
Meanwhile tungsten pricing remains strong at US$2,700 per metric tonne unit.
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 (first assay received, 26 holes completed, drilling back underway and 7 assays expected before the end of this month) (source)
🔄 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).
🔄 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.
