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Viking Ashanti Non Executive Chairman Raises Shareholding To Nearly 5m Shares

Viking Ashanti (ASX: VKA) non-executive chairman John Gardner continues to increase his stake in the company with the latest acquisition taking his shareholding to 4.7 million shares.

Gardner purchased 36,658 shares on-market on 3 May for a total consideration of A$5,218.

Investor interest in Viking Ashanti is growing as the company progresses its wholly owned Akoase East gold project in southern Ghana.

The company's share price has doubled to $0.15 since the start of the year, when it was trading at a low of $0.075.

Recent achievements include growing the Akoase East Inferred gold Resource by 40% to 18 million tonnes at 1.2 grams per tonne (g/t) for 704,000 ounces of contained gold.

Importantly, there is potential for further upgrades to the resource with the deposit remaining open at depth and along strike to the northeast.

Further upside is the discovery of the new Alimac prospect, where high grade intersections of 31 metres at 7.84g/t gold, 9 metres at 5.44g/t gold and 9 metres at 3 grams per tonne gold were unearthed.

The resource model has confirmed that higher grade mineralisation is best developed in the area of the previously unexplored Alimac prospect, where the project's thickest and highest grade drill intercepts have recently been reported.

Viking Ashanti is undertaking a heightened exploration and drilling program at Alimac over the next few months to follow up on the latest drill results.

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