- AuKing Mining (AKN) sees “promising” initial results from the metallurgical testwork program at its Onedin deposit, located in the Koongie Park Project in northeast WA
- Although further detailed testwork is needed at the deposit, initial testwork has found the existence of secondary carbonate species in the mineralised zone
- The company also found the potential to achieve recovery rates of over 75 per cent for copper, zinc and other minerals that are hosted with these carbons
- On the market, AKN was down two per cent and trading at 12.3 cents per share
AuKing Mining (AKN) has seen “promising” initial results from the metallurgical testwork program at its Onedin deposit, located in the Koongie Park Project in northeast WA.
Although further detailed testwork is needed at the deposit, initial testwork has found the existence of secondary carbonate species in the mineralised zone.
The company also found the potential to achieve recovery rates of over 75 per cent for copper, zinc and other minerals that are hosted with these carbons.
As part of its re-listing on the ASX, AKN explained that one of the key reasons the company looked to buy interests in Koongie Park was due to the Onedin deposit.
“AKN is pleased with initial results from its metallurgical testwork program at Onedin,” CEO Paul Williams said.
“We have established the existence of carbonate minerals in the Onedin system and initial leaching tests have shown recovery rates of at least 75 per cent in those carbonates.”
“The testwork program is ongoing and the current focus of testwork is to identify a
suitable means of processing the significant levels of iron oxides/hydroxides in the
weathered part of the Onedin deposit, with results from that activity available shortly.”
Additionally, the company will also be receiving a $550,000 refund from the research and development tax incentive application with AusIndustry.
On the market, AKN was down two per cent and trading at 12.3 cents per share at 2:08 pm AEST.