Viking Mines Ltd, traded on the ASX under the ticker VKA, has garnered attention with the announcement of initial assay results from its Linka Tungsten Project in Nevada, USA. This initiative is part of a broader strategy involving the acquisition of six tungsten projects. The metallurgical sample findings are particularly significant, indicating strong potential for high-grade concentrations of tungsten oxide.
Initial assay findings
The company has reported high-grade tungsten oxide (WO3) assays from four metallurgical samples, totaling 295 kilograms from the Linka project. Notably, a 58-kilogram sample collected from the Linka Open Pit yielded an impressive result of 1.3% WO3. This grade is remarkable, especially in a global mining landscape where many operations are extracting at considerably lower grades.
Evaluation of sample results
The weighted average grade from the four metallurgical samples analyzed is reported at 1.0% WO3. These results highlight the high-grade nature of the scheelite mineralization at Linka and validate historical sampling conducted in the 1950s. Viking Mines has commenced preliminary metallurgical testwork to develop a process flowsheet aimed at producing a scheelite concentrate from these samples.
Market context and implications
The timing of these results is advantageous, as global prices for scheelite concentrates are at an all-time high. Concentrates with a grade of 25%-30% are currently priced around $937 per metric tonne unit (mtu), translating to approximately $93,700 per tonne. This favorable pricing environment bolsters the viability of the Linka project, enhancing its appeal within the Tier 1 jurisdiction of Nevada.
Expert insights and future potential
Julian Woodcock, Managing Director and CEO of Viking Mines, provided commentary on the assay findings, stating, “The exceptionally high-grade nature of these results confirms the potential we have at Linka and validates the historical high grades seen in earlier underground sampling.” He underscored the significance of achieving a head-grade of 1.3% WO3, describing it as a remarkable outcome for the Linka Project.
Woodcock highlighted the notable difference between Linka’s assay results and those of other global mining operations, some of which are currently extracting tungsten at grades as low as 0.2% WO3. As record prices for tungsten boost interest in high-grade projects like Linka, the outlook appears promising for Viking Mines.
Viking Mines is advancing its acquisition of the Linka project while conducting further testing. The company aims to leverage the increasing demand for tungsten, particularly in the electronics, aerospace, and defense sectors. The results from Linka enhance the company’s portfolio and indicate the potential for substantial returns, as tungsten remains a vital material across various industries.
The initial assay results from the Linka Tungsten Project suggest a high-grade potential for this site. With ongoing metallurgical testing and favorable market conditions, the Linka project is poised to significantly influence the tungsten market.