Viking Mines Ltd (ASX:VKA) has announced a maiden resource for its First Hit gold mine in Western Australia’s Eastern Goldfields region, with this coming in at 83.8 kilotonnes at 7.0 grams per tonne (g/t) for 19,000 ounces – well within high grade parameters.

And with the existing decline extending to around 220 metres below the surface – opening the door for the mineralisation to be accessed and extended beyond the currently drilled limits – Viking is looking ahead at future growth.

Additionally, the company is progressing work to define a high-grade JORC exploration target for the depth extensions to First Hit and the Company to investigate options for drilling there.

The last time First Hit was in operation was 2002, and the mineral resource estimate (MRE) announced today represents the remaining mineralisation at the First Hit Gold Mine after accounting for mining depletion from this time.

Managing director and CEO Julian Woodcock said he anticipated several options arising from the mine’s development.

“The high-grade gold mineral resource, combined with the existing underground infrastructure, proximity to several operating mills and current record gold price environment provides significant optionality to be immediately assessed by Viking,” he said.

“We will continue to assess the asset and the opportunities it brings, in parallel with our ongoing regional exploration programme that is currently underway.”

Viking shares have been trading at 0.9 cents.

Join the discussion: See what HotCopper users are saying about Viking and be part of the conversations that move the markets.