AKN: Promising geophysics ahead of new drilling campaign

Our base metals junior investment AuKing Mining (ASX:AKN) is about to commence its next round of drilling at its flagship Koongie Park project in WA.

Ahead of this, AKN today announced promising results from downhole geophysics (essentially testing for conductive sources down drill holes, as opposed to on surface) of previous holes from its two most advanced prospects, Onedin and Sandiego. The survey has identified two key zones of potential significant mineralisation which remain untested, but will be incorporated in the upcoming drill campaign, set to commence later this month.

What this means is that there could be the potential to discover extensions to the existing resources at AKN’s flagship. This matters as our initial appeal to Koongie Park is that it already has an an existing JORC resource of 8.9Mt at 1.01% Cu, 3.67% Zn, 0.77% Pb, 0.16g/t Au, and 26g/t Ag - the discovery of extensions would certainly add more value to this deposit. However, with several valuable commodities with some in oxide form, the metallurgy at the project is complex.

In a nutshell, AKN has its hands on a significant deposit that could grow further - and importantly, could transition to the mining phase fairly rapidly… IF a processing solution can be found.

Which feeds into what we want to see next from AKN - and our #2 Objective from our AKN Investment Memo, namely the met results:

The met results will provide more clarity in terms of whether the valuable commodities within Koongie Park can be processed. We anticipate that these results are a few weeks away.