Viking Ashanti Re-Commences Drilling At Ghana Gold Project

Sep. 09, 2012 8:51 PM ET
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Perth-based Viking Ashanti (ASX:VKA) has re-commenced a highly anticipated drill program at the flagship Akoase gold project in southern Ghana, West Africa.

This follow recent encouraging drilling results. Viking has two project areas in the Ashanti Gold Belt - West Star/Blue
River and Akoase.

Akoase has a 704,000 ounce Inferred JORC resource (April 2012).

Importantly, Resolute Mining has retained its 33% stake following recently completed 1:4 rights issue.

An initial program of 2,000 metres of Reverse Circulation (RC) and 1,000 metres of diamond drilling is planned to commence at the end of September.

This will be targeting down dip and along strike extensions of the higher grade mineralization intersected in previous drilling at the Akoase project's Alimac prospect.

Discussions are well advanced with Ghana-based drilling contractors to undertake this program, and are expected to be finalized within the next week.

Akoase East Drilling

Assay results have been received from the final six RC and RC precollar holes drilled at the Alimac prospect prior to cessation of drilling activities late in May.

Results are from two RC precollars (AKRC24D and 25D) for deeper diamond tails, designed to test beneath existing shallower, higher grade drill intersections at Alimac.

The pre-collared part of AKRC25D has intersected 16m @ 2.19 g/t Au, which is consistent with an up-dip intersection of 11m @ 2.06 g/t Au in previously reported hole AKRC 188.

The remaining four RC holes form part of a single line of six RC holes designed to traverse across part of the >50 ppb gold in soil anomaly linking the Alimac prospect with the Andy Hills prospect, 2.5km to the northeast. Two RC holes remain to be drilled to complete the traverse.

Blue River Project Drilling

Final assay results have been received from samples relating to RC drill holes BRC 98, 100 and 101 at the Blue River gold project in southern Ghana.

These holes formed part of a 28 hole RC drilling program completed at Blue River's Jasmine prospect earlier this year. The majority of holes have been previously reported.

These results, in conjunction with the previously reported results have confirmed historical, broader spaced drilling at the Jasmine prospect, and have demonstrated that the 17 strike km of the Salman shear zone held by Viking Ashanti is a prime exploration target for further systematic evaluation.

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