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AuKing Mining double-confirms Koongie potential

4 November 2021
ASX: AKN
Rueben Hale

AuKing Mining has confirmed outstanding copper, zinc and battery mineralisation from a highly anticipated second round of drilling at the Onedin and Sandiego deposits, part of the company’s Koongie Park project near Halls Creek in Western Australia.  

The existing 6.8 million tonnes JORC multi-mineral project, comprising 10 licences covering an area of over 500 square kilometres, has confirmed standout 3.05 per cent copper, 6.16 pc zinc amongst the second batch of assay results from six drill holes as part of the initial drilling program at the site. 

The combination of reverse circulation drill holes at the Onedin deposit and two deep diamond drill holes at Sandiego revealed broad zones of consistent high-grade copper, zinc, and other mineral intersections, including lead, silver, cobalt.  

Highlight results included 0.18 pc lead, 25 grammes per tonne silver 647 parts per million cobalt from 500 metres at one site.  

Another hole yielded similar potential across a promising 65-metre section containing grades as high as 5.17pc Zn, 27g/t Ag, 647ppm Co and 1.71pc Cu.  

Sampling from Sandiago has also shown elevated rare earth values from rock chip samples with 0.4 pc combined light rare earth elements over 9 metres in a shallow downhole.  

“These second assay results from drilling at Koongie Park have exceeded the Company’s expectations and build on the initial results reported last month,” chief executive Paul Williams said.  

“The two deeper holes at Sandiego both intersected wide, high-grade zones of mineralisation and provided a strong foundation for even deeper drilling to assess a larger resource extension.    

“The company has also identified significant cobalt and rare earth mineralisation, which warrants further assessment from our exploration team. Drilling is ongoing, with an additional 2,700m planned over the coming weeks.  

“We look forward to providing further assay results shortly.”    

AKN’s Australian Stock Exchange-listed share price was trading at 28c at market open (8:00am UTC+8 hours) 

COMPANY OVERVIEW

The Board of AuKing Mining Limited (ASX:AKN) continues to focus on transforming the Company into a substantial mid-tier mining group, with a primary focus on acquiring and developing near-term copper, gold and other base metal production activities (both locally and overseas). The Koongie Park earn-in agreement is the Company’s primary initial step towards achieving these goals.

COMPANY INFORMATION

ASX: AKN

Website

https://www.aukingmining.com/site/content/
https://www2.asx.com.au/markets/company/akn

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