Zijin Mining to take 9.9% stake in Montage Gold
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PHOENIX, ARIZONA–(Marketwire – Sept. 6, 2011) – VIKING MINERALS INC (OTCBB:VKML) ( www.vikingmineralsinc.com) reports up to 5.23% copper from its first five assay results at the Dolly Varden Claims, in Elko County, Nevada.
The five samples were shipped to the ALS Chemex lab in North Vancouver, Canada. All the samples were taken from the first hole. Two of the samples were taken in the visibly malachite stained zone and three were taken from the altered rusty pyrite zones above and below it.
| Silver | Gold | |||
| Footage | Description | Copper | ppm | ppm |
| 446.5 – 448.5 | Malachite stained zone | 5.23% | 7.2 | 0.022 |
| 457.0 – 460.0 | Malachite stained zone | 2.63% | 44.9 | 0.058 |
| 202.0 – 204.0 | Upper dissem. Pyrite | 1395 ppm | 1.9 | 0.021 |
| 250.0 – 252.0 | First rusty zone | 487 ppm | 0.8 | 0.008 |
| 532.0 – 536.0 | Lower part of altered zone | 117 ppm | 1.0 | 0.005 |
Company President Charles Irizarry stated “The Dolly Varden Property continues to prove it’s self as being highly mineralised with the potential for bulk tonnage copper, gold and silver recovery. These results of up to 5.23% Copper from our first hole have exceeded our expectations. Especially when considering the neighbouring Robinson Mine averages 0.5% Copper. There is growing anticipation on what our next set of results will bring.”
Various other elements were associated with some of the samples including; zinc (hundreds of ppm in all except lowest), lead, bismuth, arsenic, molybdenum and barium suggesting that a significant source to the over 300 feet of mineralization in the hole is still to be intersected.
The first and second holes have been completely logged and over 110 additional samples have been sent to ALS Chemex’s laboratory in Elko, Nevada.
This is the first drill hole ever completed on the property and has intersected the geophysical anomaly that extends from this northern part of the property a minimum of 3000 feet south. There are more intense chargeabilities south of this initial drill area that will be tested in the ongoing drill program.
There are 298 mines in Elko County, Nevada, located between Reno and Salt Lake City and is a prolific copper mining area. Two of the most noteworthy mines include the Robinson Mine which is an open pit copper and gold mine that has operated continuously since 2005 producing averagely 121 to 126 million pounds per year of copper. And the Bingham Canyon Mine, which is the world’s largest open pit mine and has produced more copper than any other mine in history – approximately 14.5 million tons.
ABOUT VIKING MINERALS
Viking Minerals is engaged in the acquisition and development of near-term producing copper, gold and silver properties in the United States and Canada. Viking is focusing on developing its Dolly Varden properties in northeastern Nevada, adjacent to the Victoria Copper mine. The Large resource of copper in this area has been well documented and hosts two large operating mines – Battle Mountain and Robinson. With solid management, an experienced technical team, and a large copper-rich land position in mining-friendly Nevada, Viking Minerals is well positioned to be North America’s next great mining company.
