(Dallas, TX. – September 26, 2011) StockGuru Shines its Spotlight on VIKING MINERALS INC (OTCBB: VKML) Viking Management and Technical team has completed a comprehensive review of data collected from its Dolly Varden Gold and Copper property in Elko County Nevada. The Company announced on Friday that early results warrant aggressive exploration and investment. The Company closed on September 23, 2011, at $0.0525, trading in a fifty-two week range of $0.30 – 0.015.
Company President Charles Irizarry commented “Although the general market for Gold and Copper has taken a short term hit in commodity prices the long term outlook remains very positive and therefore it is only prudent to aggressively continue exploration on Dolly Varden and to add to our existing land package. Our Technical team is actively looking for advanced properties with high Gold and Copper showings in the Elko County area.”
On Dolly Varden sample results have shown Copper values as high as 9.34%, as a comparison the neighbouring Robinson Mine averages about .5% copper.
The company looks forward to reporting Dolly Varden drill results over the next 4 weeks; a physical review of the drill core has provided much reason for optimism.
The mineralised zone has been identified as being 3000ft by 600ft.
The Dolly Varden area is recognized as a classic eastern Great Basin district with base and precious metals associated with upper Paleozoic sediments intruded by Cretaceous auriferous magmas, which is a similar geological setting to the Battle Mountain Fortitude skarn gold type deposit in east central Nevada.
A review of the 59 grab rock samples taken outlined several anomalous molybdenum analyses (100 ppm range with one associated with the high grade silver sample of 1305 ppm Mo) and anomalous values in uranium (3 samples had 190, 160 and 130 ppm U) all associated with the high grade copper and zinc grab samples (up to 9.34% copper and up to 20.2% zinc). The association of minerals requires further investigation but suggests that the source of the mineralization is quite metaliferrous.
Specifically the grab samples with 1145 ppm silver (33.57 ounces per tonne) and 347ppm silver (10.18 ounces per tonne), and 2.67% copper; 20.6% lead; 1.49% zinc and 0.154 ppm gold and 9.34% copper; 1.95% lead; 2.21% zinc and 0.116 ppm gold, respectively. These results are located on the northern end of the IP zone, which will be targeted.
Several mineralized outcrops of copper rich mineralization have also been found where the IP zone comes to surface, towards the south end of the IP anomaly. Three grab samples were reported from that area – 2.02 %, copper and 3.9 ppm silver; 0.81% copper 190 ppm Molybdenum and 16.7 ppm silver & 3.65% copper 190 ppm uranium and 1.1 ppm silver.
A drill site testing a resistivity high area approximately 2,000 feet east of the main IP zone also reports alteration and copper mineralization. Results here included two grab samples of 5.7 & 3.4 ppm silver; 1.32% & 0.535% copper; 129 and 690 ppm molybdenum and 0.193 ppm and 0.134 ppm gold, respectively. The geological mapping has identified a Quartz Feldspar Porphyry (QFP) intrusive associated with the chargeability anomaly and the rock geochemistry anomaly. QFP’s are associated with the skarn and porphyry copper deposits of the Nevada basin area.
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.
FORWARD-LOOKING STATEMENT
This news release contains forward-looking statements that are based on Viking Minerals Inc.’s current expectations and estimates. For the complete “Forward-Looking Statement” please go to http://www.vikingmineralsinc.com/newsdisclaimer.html
Charles Irizarry, President & CEO of Viking Minerals Inc.
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