Viking Mines

Viking Ashanti meldet neuen Gold-Anomalien an seinem Akoase Projekt in Ghana EBR Staff Writer Veröffentlicht 27. Juli 2012 Perth-basierten Viking Ashanti hat mehrere, bedeutende neue Goldanomalien von Bodenproben auf ihre hundertprozentige Akoase Gold-Projekt im Süden von Ghana, Westafrika berichtet. Viking Ashanti gezielt die westlichen und südöstlichen Gebieten der Akoase Projekt für seine neueste Programm der Entnahme von Bodenproben, basierend auf Interpretation der regionalen geologischen, strukturellen und geophysikalischen Daten-Sets. Das Unternehmen sammelte insgesamt 2044 Proben auf einem 400m x 50m Muster und identifiziert drei prominenten nordöstlich verlaufenden> 50 ppb Au anomalen Zonen in der westlichen Region des Projekts und weitere sechs nordöstlich verlaufenden anomalen Zonen im südöstlichen Bereich. Individuelle Abweichungen sind bis zu 100 m breit, variieren von 800 m bis 2,4 km in Streichlänge und werden zu einer Reihe von sub-parallel nach Nordosten verlaufenden Strukturen Schuld an den Rändern der Ashanti Gold Belt entwickelt verwandt. Viking Ashanti-Geschäftsführer Peter McMickan sagte: "Diese Anomalien stellen neue, ungetestete Explorationsziele, so interpretiert, um sub-parallele Strukturen Schuld an den Kadewaso strukturellen Trend, der unsere Akoase Osten 700.000 Unzen Goldressource beherbergt bezogen sein." Viking Ashanti hat eine Infill-Bodenproben zu 200m x 50m geplant, die Zielvorgaben für First-Pass-Bohrungen Auswertung liefern und besser zu definieren, die Anomalien.

www.asx.com.au/asxpdf/20100903/pdf/31s9n26fmw0bf0.pdf

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Investment Opportunity Viking Ashanti Limited ("Viking" or "VKA" or the ‘Company’) is led by a respected management team and was established in 2007 to explore for and develop deposits in West Africa. Viking’s flagship asset is the 　 Akoase Gold Project that currently has a JORC inferred resource of ~496koz Au. Other prospective exploration prospects include the West Star / Blue River Project and the Nchiadi / Nyame Project that cover over 440km2 of the Ashanti Gold Belt in Ghana. Viking listed on the ASX on 12th May’10 having raised A$8m at 30c/share to accelerate exploration activities. Resource Growth: The Company’s main objective is to expand the current resource base to at least 1moz Au within the next 24-months. Funded to Drill: Over 13,000m of RC drilling plus 2,500m of diamond drilling is planned for Akoase, with further plans for 14,000m RC and 2,500m diamond drilling at West Star / Blue River. First results from the 10-hole programme at West Star / Blue River delivered positive results. Strong Management Team: Experienced in African exploration and built up and sold Guinor for US$328m cash to Crew Gold Corporation Inc (TSX:CRU) in Q4’05, before the completion of the LEFA corridor gold mine. Resolute Mining Ltd retains a 33% holding in Viking: Now that Viking holds the assets, the true value can be unlocked with focussed work. Whilst Akoase was discovered in the 1990s, progress was slow (only 496koz in inferred resources), Resolute’s focus was largely on progressing its larger assets into production, and we believe the Akoase and West Star / Blue River assets will now get the proper attention and the pace of development will accelerate. Right address – Not a New Frontier: Ghana has well-known and proven geology, a competitive fiscal regime and improving political stability. There are numerous multi-million ounce deposits located within and on the margins of the Ashanti Gold Belt including two of the largest gold deposits in the world at Obuasi (24.9moz) and Tarkwa (20.2moz). Entry Opportunity: Despite the encouraging drilling results that have been announced in the last six weeks there has been weakness in the share price since Viking’s IPO from A$0.30 to current levels around A$0.20. We believe this is an opportunity for entry to the stock which currently has a low EV of US$7m. Potential to reach >1moz: We believe there is potential for Viking to reach the 1moz milestone in the next 24 months and as such there will be a significant valuation uplift. Valuation We feel that our www.dergoldreport.de/files/Viking-Ashanti-Limited-Ocean-Equities-Initiation-060810.pdf 12 month valuation of A$0.50/share based on an in-situ target resource of reaching 744koz Au at US$40/oz is justified for an exploration company that has an early stage exploration gold asset in a highly-prospective area.