Drilling campaign completed at Koongie Park base metals project

This morning, our base metals junior Investment AuKing Mining (ASX:AKN) announced that they’ve wrapped up the current round of drilling at its Koongie Park base metals project (80% stake) in the Halls Creek mining hub, WA.

While we wait to see the outcome of a promising uranium acquisition in Tanzania, AKN has finished up drilling in WA.

We view the results reported today as largely positive, with the potential for a significant resource upgrade on the cards.

Koongie Park currently hosts a 8.9Mt resource, containing 1.01% copper, 3.67% zinc, 0.77% lead, 0.16g/t gold, and 26g/t silver.

This drilling campaign comprised a combined 7,438m reverse circulation (RC) and diamond drilling across multiple prospects.

Assays returned from holes to the north and also in the deeper sulphide zones of the Sandiego deposit confirmed further zones of copper mineralisation, providing a basis to significantly extend the existing resources at the deposit. Further holes are planned for the next campaign.

However, four follow up holes at the Cosmo prospect returned no significant copper mineralisation.

Assay results are pending for the Emull prospect, which is poised to significantly increase the total resource base at Koongie Park once incorporated.

What’s next for AKN? Next on the horizon for AKN will be the increase in JORC resources at Koongie Park, as well as progress with the acquisition of Tanzanian uranium and copper assets (our commentary here - Can this Tanzanian Exploration Maverick Lead AKN to Uranium Success?), both likely in the December quarter.