/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES/
TORONTO, March 12 /CNW/ - Viking Gold Exploration Inc. (TSX-V; VGC), hereafter "the Company" or "Viking Gold", reports that its winter drill program, announced on February 8, 2010, is progressing favourably despite early delays and unseasonably mild weather. Measures were taken by the Company's exploration team to help thicken the ice on Narrow Lake, so that exploratory drilling could proceed as planned. Three drill holes have now been completed and a fourth is under way. Five additional drill holes are planned, with a combined total length of recovered core for all nine holes of approximately 2000 metres.
The first four holes (VP-10-01 to VP-10-04) were drilled along an electromagnetic conductor detected during the Company's 2006 airborne geophysical survey, and situated between the two lake bottom samples with the highest gold content obtained from the Company's 2007 limnic survey. The Company considers the location of these holes to be significant due to the proximity to notable historic mineral deposits - the Ormsby gold zone near the northern boundary of the property, and the high-grade past producer Discovery Yellowknife mine a further 3 km to the north. Please refer to the Viking Gold website for additional information.
The drill holes are identified by the letters "VP", signifying the Viking option of a property registered to Peregrine Diamonds. Completion of the current drill program will allow the Company to satisfy its $1 Million earn-in expenditure requirement, whereupon it will earn a 60% joint venture interest in the property.
The three holes completed so far, all dip 45 degrees to the northwest and cut significant widths of heavy sulphides as follows:
a) Hole VP-10-01 - within a fragmental volcanic rock sequence, a banded
and locally distorted zone of pyrrhotite, pyrite, minor arsenopyrite
and sparse grains of scheelite, with estimated 15 - 20% quartz veins
across a core length of 20.7 m, from 90.75 m - 111.45 m. This hole
was drilled to a depth of 151 m.
b) Hole VP-10-02 - within a fragmental volcanic rock and amphibolitic
sequence, a similar sequence of pyrrhotite, pyrite, and minor
arsenopyrite with fragmented grey quartz veins, with estimated 20%
quartz veins across a core length of 59.1 m, from 26.5 m to 85.6 m.
This hole was drilled to a depth of 181 m.
c) Hole VP-10-03 - within an argillite and volcanic rock sequence there
occurs a width of 35.7 m in a zone of pyrrhotite, pyrite, minor
arseno-pyrite and one observed patch of scheelite of thumbnail size.
This hole was drilled to a depth of 151 m.
A total of 175 samples taken from the first two holes have been delivered to Acme Analytical Laboratories for analysis of gold and associated elements by ICP-MS analysis, with all values above 500 ppb to be assayed by fire assay. Sampling of hole VP-10-04 is continuing. The Company is following standard QA/QP practices.
An accompanying map shows the location of the first four holes drilled and the remaining planned holes.
The administration of this winter drill program and the logging of core have been managed by Consulting Geologist William MacRae, M.Sc., P.Geol. Robert M. Ginn, Ph.D., P.Eng. is the Qualified Person.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE Viking Gold Exploration Inc.
For further information: For further information: please contact Robert Ginn, CEO at (416) 364-6244, ext. 227, or visit our website at www.vikinggold.ca