Viking Ashanti kicks off drilling at flagship Akoase East gold...

Viking Ashanti kicks off drilling at flagship Akoase East gold project

http://www.proactiveinvestors.com.au/companies/news/9649/viking-ashanti-kicks-off-drilling-at-flagship-akoase-east-gold-project-9649.html

Friday, August 27, 2010

Newly listed African-focussed junior Viking Ashanti (ASX: VKA) has commenced a 10 diamond hole drilling program for 1,500 metres at its 500,000 oz flagship Akoase East gold project located 125km north of Accra in southern Ghana, in order to expand the existing 500,000 ounce resource.

First assay results are expected mid September, 2010, and a further 3,000m of diamond and 12,000m RC drilling is planned at Akoase and West Star/Blue River through to May 2011.

Negotiations with drilling contractor Minerex are in progress to secure all drilling requirements.

Re‐establishment of access to the drill sites has been completed and construction of the new drill pads is well in advance of drilling.

Peter McMickan, managing director said, commencement of drilling at our lead project, Akoase East is a major milestone for the company, as we look to build on the current 500,000 ounce resource as rapidly as possible."

"The drilling will involve some infill drilling, but mainly extension drilling at depth, to upgrade and expand the existing resource. Extension of the drilling contract with Minerex will allow us to be drilling on a more or less continuous basis on our two main projects for the next seven months.

The rig is operating on double shift, and at the assumed drill penetration rates and hole depths, the initial 10 hole program is expected to be completed by end of September.

Soil sampling is in progress on the strike extensions of the Akoase mineralized trend, to the north east of the current resource.

This extra 1 strike km of sampling will complete the soil sampling coverage to the northern boundary of the Akoase East licence.

Viking listed on the Australian Stock Exchange in May.