Copper mineralisation at Cosmo prospect, sulphides at Onedin
Earlir today, our exploration investment AuKing Mining (ASX:AKN) delivered the latest assay results from its Koongie Park copper/zinc project in Halls Creek, WA.
Koongie Park already hosts a JORC resource of 8.9Mt, containing 1.01% copper, 3.67% zinc, 0.77% lead, 0.16g/t gold, and 26g/t silver, all within its Onedin (shallow oxides) and Sandiego (deep sulphides) deposits. This is set to increase once the resource from the Emull prospect (shallow sulphides) is incorporated, likely within the next few months.
Today’s results are from the first nine (of 13) holes at the Cosmo prospect, confirming the presence of significant, near-surface copper mineralisation. This matters as Cosmo is quite close (only ~500 metres) to the Onedin deposit, providing easier co-development potential down the road.
Following these promising Cosmo results, AKN are planning another round of RC drilling at Cosmo later this year.
Aside from the Cosmo results, assay results were returned for the downhole electromagnetic conductor targets near Onedin, identifying a significant zone of sulphide mineralisation at depth. This is interesting as there may be the potential to consider underground development here, given that sulphide ores are easier to process than oxides.
Our latest note on AKN provides a detailed analysis of Koongie Park and these prospects including understanding the different ore types within.
Next up, we await the commencement of follow up drilling at the Emull prospect, and an updated JORC resource for Koongie Park.
