Funds raised pursuant to the placement will be used primarily to accelerate exploration of the company’s newly acquired Reung Kiet lithium project located in southern Thailand.
The project contains two drill-ready pegmatites identified over a 3‐4 kilometre strike within a combined prospective trend of 10+ kilometres.
The Reung Kiet pegmatite is over 1 kilometre long and up to 20 metres wide with the lepidolite having a reported grade of 3% lithium.
The Bang I Tum pegmatite has a 2 kilometre trend and is over 20 metres wide in places, with the lepidolite having a reported grade of 4% lithium.
Historical and recent exploration indicate that the possible size and grade of both Reung Kiet and Bang I Tum pegmatites deliver excellent potential for economic viability.
Recent rock‐chip sampling at the project has averaged 1.45% lithium and 234 ppm tantalum, with peak values of 1.98% lithium and 308 ppm tantalum, confirming historical results.
Furthermore, Viking has an option to acquire the right to earn a 75% interest in the Khao Soon tungsten project, also located in southern Thailand.
The placement funds will provide Viking with additional working capital to quickly advance the company’s activities in Thailand without drawing upon its current cash assets.