VKA to start drilling US tungsten project within days

Our US tungsten Investment Viking Mines (ASX: VKA | OTC: VKALF) has a rig on the way to its tungsten project in Nevada, USA.

Arrival is expected later this week - with drilling to start straight after its arrival.

VKA will be drilling a project that produced tungsten between 1941 and 1956 before mining stopped because the US government suspended its tungsten buying program. (source)

Now, with the US government out encouraging domestic critical mineral production - we are Invested in VKA to see the project get put back into production.

The first hole is expected in the week starting the 27th of July (weather and site conditions permitting), so not long to wait now until the drill gets spinning.

This will be the first drilling at the project in over 40 years.

(source)

We think US critical minerals keeps getting stronger too, with a new Executive Order just released by President Trump:

(Read the full Executive Order here)

And here is some media coverage on the news:

(source)(source)(source)

We wrote about that Executive Order this morning, you can read our note here: BREAKING: Trump signs executive forcing US military suppliers to source critical minerals from inside US borders

VKA’s drill program is testing three areas

The 63-hole program covers:

1. The historical workings, testing shallow high grade mineralisation and down-dip extensions,
2. An ~800m southwest extension that has never been drilled, and
3. Regional targets along the ~7km geophysical anomaly, roughly 89% of which has never been tested.

(source)

Drilling progress and assays will be released as they come to hand.

VKA is also progressing the processing side of things alongside as it aims for a production opportunity in the near term.

We also covered these early met results in the lead-up to this drilling program (including the 76% recovery metwork) in our most recent VKA note.

You can see our recent deep dive on the drill plan here: VKA: First drilling at USA tungsten project in over 40 years. Tungsten price hits new all-time highs. Trumps invest in a tungsten mine.

What we want to see next from VKA:

Here are the key milestones we want to see VKA hit over the coming months:

🔄 Processing concept study for modular plant

VKA is working on a processing plant design including CAPEX/OPEX estimates.

VKA has also mentioned prior that a consultant (TOMRA) had been engaged in Germany to test ore sorting on samples from VKA’s project (this could improve recoveries inside whatever processing circuit VKA is putting together).

Here are the milestones we are tracking for this:

• 🔄 Cleaner flotation testwork - Results recently (optimisation ongoing)
• 🔄 Ore sorting testwork - ~40kg sample being tested - Early results here today
• 🔄 Modular "Rapid-Start" gravity circuit design - to feed into development studies

🔄 Maiden drilling program (rig is on the way to site).

VKA received approvals ~9 weeks ago for its 63-hole drill program. (source)

Since then VKA has locked in the drilling contractors and the schedule, with the rig confirmed to be on its way to site, with drilling expected to commence next week (week beginning the 27th). (source)

🔄 Permitting and 3D geological model

VKA is also working on baseline environmental permitting AND a 3D geological model for the project.

Here is a gantt chart VKA recently put out that details everything being worked on more broadly:

(source)