VKML .0065 AH News Deep 3D-IP Survey Recommended at Viking Minerals Dolly Varden as Neighbour Quadra FNX is Acquired for $3.5 Billion
PHOENIX, ARIZONA, Dec 13, 2011 (MARKETWIRE via COMTEX) -- Viking Minerals (OTCBB: VKML) reports that its independent U.S. contract geologist, in conjunction with the company's consulting Geophysicists has recommended additional 3D - IP surveying over the defined anomaly on the Dolly Varden Claims located in Elko County, Nevada.
This surveying in conjunction with the outlined continued 3D - IP survey to the north and south of the initial claim group is designed to test the open peripherals of the currently known geophysical zone at depth in response to the success to date of the company's drill program.
Quadra FNX has agreed to sell its operations for $3.5 billion to KGHM which amounts to a 41% premium above the company's recent trading price. As Quadra's Flagship Robinson Mine is so close in proximity to the Dolly Varden property it is vital that Viking continue to advance the Dolly Varden property.
Since drilling commenced on Dolly Varden every drill hole has intersected mineralization which appears to increase in intensity at depth.
The intersection of massive sulphide mineralization in the vertical hole which is 600 metres south of the initial drill area and 600 metres west of the second drill area requires this deep geophysics to explain the deeper roots of these zones.
The company's consulting geologist has indicated that with the amount of pervasive alteration a deeper "buried" porphyry system could be responsible for this mineralizing event (or events).
Drilling will continue to delineate the mineralized structure associated with the mineralization.
Laurence Stephenson, P. Eng, a Qualified Person under National Instrument 43-101, has approved the contents of this News Release. Some information contained in this press release may have been previously reported.
AREA PLAY - ELKO COUNTY, NEVADA
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.