- AuKing Mining (AKN) places its shares in a trading halt pending an announcement regarding a capital raising
- The company’s shares will remain halted until the earlier of November 17 or when the announcement is made
- On November 4, AuKing announced it had intersected further strong copper and zinc mineralisation at the Koongie Park Project in Western Australia
- Grades peaked at 3.05 per cent copper, 6.16 per cent zinc, 1.17 per cent lead, 27 grams per tonne (g/t) silver and 647 parts per million (ppm) cobalt
- Shares in AuKing last traded at 18 cents on November 12
AuKing Mining (AKN) has placed its shares in a trading halt pending an announcement regarding a capital raising.
The company’s shares will remain halted until the earlier of November 17 or when the announcement is made.
AuKing is yet to disclose how much it intends to raise or what the funds will be used for.
On November 4, AuKing announced it had intersected further strong copper and zinc mineralisation at the Koongie Park Project in Western Australia.
Reverse circulation (RC) and diamond drilling was undertaken at the Onedin and Sadiego deposits to test and confirm the existence of mineralisation in various sections of the deposits.
Grades peaked at 3.05 per cent copper, 6.16 per cent zinc, 1.17 per cent lead, 27 grams per tonne (g/t) silver and 647 parts per million (ppm) cobalt.
These results confirmed high-grade zones of copper and zinc mineralisation as well as a significant extent of mineralisation previously identified.
Drilling is continuing with more than 4800 metres drilled to date.
Shares in AuKing last traded at 18 cents on November 12. The company has a $10.85 million market cap.