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Auking’s multi-mineral haul runs through Onedin

2 March 2022
ASX: AKN
Jack Baker

AuKing Mining’s final three Onedin drill holes revealed high volcanogenic massive sulphide mineralisation across the deposit at its Koongie Park project near Halls Creek in the Kimberley.

The latest results significantly expand the existing known resources with the multi-mineral haul headlined by copper mineralisation of 1.67 per cent over 66 metres.

Another standout was 1.04pc Cu, 4.8pc zinc, .89 lead, and 35 grammes per tonne silver over 60m, adding to consistently high results found throughout the campaign.

Intersection hits continue to build the explorer’s 6.8Mt JORC Koongie Park project and Onedin as a significant factor amid the project’s 500 square kilometres.

The company said the holes completed a full set of exceptional results.

“Onedin is well on the way to becoming a significant mining development opportunity,” chief executive Paul Williams said.

Next up for the explorer is establishing recoveries for the resource through its metallurgical test work program.

Earn-in

In February 2021, AKN entered into an earn-in and joint venture agreement with Anglo Australian Resources NL providing AKN with the right to earn up to a 75 per cent interest in the Koongie Park project by completing an exploration expenditure of $3 million over 3 years.

AKN has since completed these earn-in expenditure commitments and currently holds the interest above in the Koongie Park JV.

AKN’s Australian Stock Exchange-listed price was trading at 20c today (6:04 am 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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