Viking Mines (ASX:VKA) has entered a binding agreement to acquire 100% of six tungsten projects in Nevada, USA, including the flagship Linka Project, which hosts three historical mines with proven production of ~65,000 tonnes at 0.49% WO₃.
The Linka Project features high-grade mineralisation over an ~820m strike, with historic underground stopes grading up to 3.0% WO₃ and drill intercepts including 10.1m at 0.79% WO₃.
The acquisition is supported by a $750,000 strategic investment from American Tungsten, which will also provide technical services.
The USA projects collectively have a significant historical production record of ~123,000 tonnes at 0.54% WO₃ and offer substantial exploration upside, with high-grade channel sampling up to 2.11% WO₃.
With tungsten designated a US critical mineral and global supply dominated by China, the acquisition positions Viking to deliver domestic supply at a time of geopolitical urgency and record tungsten prices of US$780–820 per MTU.
Viking has commenced due diligence, including field visits, and plans detailed sampling, resource definition, and engagement with US government programs, underpinned by a fully backed placement to raise ~$4.3 million.