Company
ASX:AKN
AuKing Mining Ltd is a resource exploration and development company seeking to become a mid-tier copper, uranium and other base and precious metals producer. The company's primary activity involves developing the Koongie Park copper/zinc project in north-eastern Western Australia and the suite of uranium licences in Tanzania, Africa.
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Anna Nahajski-Staples is an investment banker, public company director and manager, with nearly 30 years of experience (15 years in mining) representing more than half a billion dollars in global transactions.
Cosmo is 500 metres southwest of the main Onedin deposit area and largely unexplored. AuKing plans to conduct further drilling there later in the year and add more resource tonnes to Koongie Park, which currently boasts a JORC-compliant min
“Strong potential now exists for a shallow, bulk tonnage, open-pit operation to be established at Emull," CEO Paul Williams said.
With 1,600 metres of diamond drilling to now follow, the company’s drill program will be targeting strong conductive anomalies offset from known mineralisation at Onedin and Sandiego, the project’s two primary deposits.
The company’s exploration campaigns since June 2021 have led to a 30% upgrade of the previous 6.8 million tonnes resource estimate.
A total of 14 holes have been drilled at the Onedin South prospect and encouragingly results so far indicate the presence of mineralisation.
AuKing is drill-testing six areas with DHEM conductors, geophysical anomalies, or known mineralisation, looking to delineate new deposits on the flagship Koongie Park Project.
“We have established the existence of carbonate minerals in the Onedin system and initial leaching tests have shown recovery rates of at least 75% in those carbonates," says CEO.
AKN CEO Paul Williams said “The results of the downhole geophysics program could not have been better timed for AKN. The program has identified a number of high priority targets that will form the basis of our 2022 drill program, set to com
“The presence of these levels of cobalt mineralisation at Sandiego establishes Koongie Park as a potential contributor to the Australian ‘battery metals’ project,” says MD.
“This funding will enable AKN to carry out its extensive proposed drilling and exploration program for 2022,” says CEO.
Improved geological data, which underpins this update, broadens opportunities to target higher grade extensions and repetitions across Koongie Park’s deposits.
“This transaction marks an incredibly important milestone for AKN. The proposed acquisition allows the company to consolidate its ownership of Koongie Park to 100% and leaves AKN in a powerful position to progress the Onedin and Sandiego de
“The results from these final three holes highlight the continuity of high-grade copper, zinc, lead, silver and molybdenum across the Onedin deposit," said CEO Paul Williams.
“We are excited to report more exceptional results … the results from these latest three holes highlight the continuity of high-grade copper, zinc, lead, silver and molybdenum across the Onedin deposit,” says CEO.
“Results such as these from AORD004 set the scene for the commencement of AKN’s metallurgical testwork program on the near-surface Onedin ores. In addition, these results should be highly complementary to AKN’s Koongie Park resource upgrade
The company has achieved this milestone more than two years in advance of the due date.
Online presentations on Tuesday, February 8, will be made by AuKing Mining Ltd, Kingfisher Mining Ltd and Cooper Metals Ltd.
Work conducted by the company in 2021 has established the platform for a significant number of activities for the development of Koongie Park in 2022.
“Chris has a special skillset in that he has supervised projects from early exploration right through to being mine-ready. The timing is perfect for him to be supervising the development of AKN’s Koongie Park project," says CEO.
The company has notified Anglo Australian of its intention to proceed to earn the final 25% interest in the Koongie Park project by spending a further $1.5 million within the next 12 months.
The results continue to provide important information that will assist AKN’s exploration team with future drill planning.
“These results are also expected to establish the platform for an updated JORC resource before the end of the year,” says CEO.
Buoyed by the success of a recent $7 million public offer, the company has been able to maximise the extent of the proposed drilling program.
The company is elated with strong support from a range of new investors that helped facilitate reinstatement to the ASX and provides financial flexibility to progress an active work schedule at Koongie Park Copper-Zinc Project.
The resource exploration and development company also plans to undertake a $6 million capital raising exercise to fund the earn-in and reconstitute its board of directors.
La Dura sits in the highly mineralised Sierra Madre Occidental in Mexico.
Find out more from Philippe Odouard at Proactive's CEO Sessions.
Find out more from Paul Williams at Proactive's CEO Sessions.
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