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AuKing fatten its Koongie crown

7 April 2022 12:24
ASX: AKN

AuKing Mining has confirmed bulk quantities of copper-zinc-gold–silver-lead at 97 per cent confidence at its flagship Koongie Park project in Western Australia.

With the mineral resources boosted to 8.9 million tonnes and the potential for cobalt and molybdenum discoveries, the company is entitled to full ownership of the bulk tonnage project proximate to other massive findings.

In a general upswing for metals, copper, in particular, looms as an integral part of a global energy transition and is already trading at all-time highs.

“The new Koongie Park resource estimate has provided many opportunities to target higher grade extensions and repetitions within favourable host rocks and structures in other areas adjacent to the Onedin and Sandiego deposits,” chief executive Paul Williams said.

AuKing has the approval to drill the Emull prospect’s significant zinc and copper intersections, pending final heritage clearance.

Upgraded metals

  • 90k tonnes copper
  • 326k tonnes zinc
  • 46koz gold
  • 9.1Moz silver; and
  • 68k tonnes lead

AKN’s Australian Stock Exchange-listed share price was trading at 17c today (10.28 am UTC+ 8 hours).

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