AuKing Mining reports wide copper intersections at flagship Koongie Park project
An interval of 10.2% copper over 16.6 metres is the headline news from AuKing Mining (ASX: AKN) as it releases new drilling results from its Koongie Park project in Western Australia.
That interval was part of a wide 105.3m intersection grading at 1.94% copper, 0.76% zinc, 0.7% lead, 55 grams per tonne silver and 106 parts per million molybdenum.
Other intersections from the Onedin prospect confirm the wide nature of the mineralisation — one of 124m and the other over 123m.
Of that 16.6m high-grade interval intersected 130m from surface at Hole AORD004, the assay included 1.03% zinc, 04% lead, 316g/t silver and 76ppm molybdenum.
The company is focused on two two primary copper-zinc deposits at Koongie Park, Onedin and Sandiego.
The project area is located near Halls Creek in the East Kimberley region.
‘Phenomenal’ drilling results
AuKing Mining listed in late October after forging a joint venture with Anglo Australian Resources (ASX: AAR) which provides for a staged earn-in process by AuKing.
During the December quarter AuKing moved to holding a 50% stake in the project and has the right to earn a 75% stake.
AuKing chief executive officer Paul Williams said the company has now clearly identified a significant copper deposit at Koongie Park.
“The results from drillhole AORD004 are phenomenal — especially the very high-grade zone of more than 10% copper,” he added.
The company adds that results from AORD004 also contained confirmation of mineralisation north of these two holes, along with further evidence of a molybdenum zone.
That hole is one of a seven-hole diamond drill hole program at Onedin.
Of the other two holes reported, one returned 124m at 1.03% copper, 1.08% zinc, 1.54% lead and 50g/t silver, the mineralisation hit 8m down hole, while the other assayed over 123m at 0.39% copper, 0.59% zinc, 0.96% lead and 11g/t silver.
Both of these holes contained several higher-grade intervals, some of which also returned molybdenum values.
Project area expected to reveal other base metal targets
CSA Global has been commissioned to prepare an update to the Koongie Park resources estimate, based on this 2021 drilling program.
Koongie Park comprises 15 licences covering an area of more than 500 sq km.
AuKing considers the project area “significantly under-explored” at depth and along strike, and also highly prospective for further base metal discoveries.
The remaining assays are expected within the next week.