Perth - Viking Mines Ltd.
(ASX:VKA) (Viking or the Company) is pleased to provide its shareholders with the following link to a recent interview between Paul Lock, Managing Director of Argo Metals Group Limited (Argo) and Director elect of Viking, and Board Room Media's CEO, Mr Will Canty.
The interview can be found by following this link:
As per Viking's ASX announcement dated the 18th of November, 2016, Viking has entered into a transaction to acquire 100% of Argo through a share based transaction.
About the Reung Kiet Lithium Project
The Reung Kiet Lithium Project (the 'RK Project') is located 60km north of Phuket in southern Thailand and comprises three contiguous prospecting licence applications in the final stages of approval, being SPLA1, SPLA2 and SPLA3 (the 'RK Applications'). The RK Applications cover an area of ~44km2 and have been applied for by Siam Industrial Metals Co. Ltd. (SIM), a single purpose Thai entity in which Argo holds 75% of the issued shares and Argo's joint venture partner, Sydney based Thai Goldfields NL, holds 25%.
The RK Project is a brownfields project and exhibits several outcropping lepidolite rich pegmatites located along strike from historical open cut mines. The two key prospective trends are over 4km long. The historical mines sit within two +1.0km long lepidolite pegmatite trends. These are the Reung Kiet and Bang I Tum pegmatites. Mapping suggests that these pegmatites extend by 1-2km. Both the lepidolite pegmatites and the trend in which they sit are amongst the longest in the lithium peer group. Rock-chip samples collected by Argo and Viking averaged 1.46% Li2O, with a peak of 1.98% Li2O, these grades sit at the higher end of the Li2O peer group. Significant levels of Ta2O5 (average 238ppm) and Sn (average 0.08%) were also present in the above samples. Historical metallurgy yielded a 3.5% Li2O concentrate with 80% recoveries.
A major British/Thai joint study of the area in the late 1960's observed that "the pegmatites at Reung Kiet and Bang I Tum may well be the largest unzoned lepidolite pegmatites yet recorded" and that the "lepidolite is fairly evenly distributed both along the length of the pegmatite and from wall to wall. In places there is local enrichment of massive lepidolite". The Reung Kiet pit is ~450m long, up to 120m wide, estimated to be 30m deep and sits on a +1km trend. The Bang I Tum prospect comprises several old pits along a 2km trend, the main pit itself is ~650m long, up to 130m wide, and is also estimated to be 30m deep. In both cases the main pegmatite dykes are up to 25m wide with ancillary dyke swarms up to 7m wide.
The RK Project offers excellent exploration potential along strike from known lepidolite pegmatites and beneath historic mining activities. Almost all exploration targets have been identified through surface exposures of lepidolite pegmatites, with strong potential for new targets under shallow cover.
The RK Project offers exceptional strike and thickness and provides VKA a pathway to target low cost mining and lithium carbonate production. The RK Project is a walk up drill ready and, subject to licensing and landholder access agreements, offer immediate targets to be tested.
The RK Project has excellent regional and local infrastructure, is accessible all year, including during the wet season, and has support from all levels of Government.
For further information, readers are advised to refer to the link below for 18 November 2016 ASX announcement "Viking Acquires Lithium and Tungsten Projects in Thailand":
About Viking Mines Limited:
Viking Mines Ltd.
(ASX:VKA) (FRA:AVI) was established in 2007 to explore for, develop and mine mineral deposits in Ghana, West Africa. The Company holds more than 250 sq km of ground in two project areas, West Star/Blue River and Akoase East and West. Both projects are located in southern Ghana within the Ashanti Gold Belt, one of the most highly gold endowed and tightly held geological provinces in the world. Numerous multi-million ounce gold deposits are located within and on the margins of the Ashanti Gold Belt, including two of the largest gold deposits in the world, Obuasi and Tarkwa.
Jack Gardner Executive Chairman
DJ Carmichael Pty Ltd