- AuKing Mining (AKN) is trading 50 per cent up after releasing the first assay results obtained from drilling at Koongie Park Copper-Zinc Project
- The company reports high-grade results have been encountered near surface, including grades of 3.36 per cent copper and 6.77 per cent zinc
- The initial five holes reverse circulation drill holes were directed along the eastern edge of mineralisation found in historic exploration
- AuKing is planning to carry out 7500 metres of drilling at Koongie, with 50 per cent of the program completed to date
- Shares in AKN are trading up 50 per cent at 31.5 cents per share at 11:40 am AEDT
AuKing Mining (AKN) is trading 50 per cent up after releasing the first assay results obtained from drilling at Koongie Park Copper-Zinc Project.
Located in the Kimberley region of Western Australia, AKN has been carrying out a reverse circulation and diamond drilling program at the site.
The company reports initial results were high-grade and near surface, with copper, zinc, silver and lead encountered.
Best results include 20 metres at 1.50 per cent copper, 5.80 per cent zinc, 0.91 per cent lead and 102 grams per tonne silver from 148 metres.
That result includes seven metres at 3.36 per cent copper, 6.77 per cent zinc, 0.11 per cent lead and 148 grams per tonne silver from 151 metres.
The initial five holes reverse circulation drill holes were directed along the eastern edge of mineralisation found in historic exploration
AuKing Chief Executive Officer Paul Williams said the maiden results were a pleasing start to the campaign.
“These first assay results from initial drilling at Koongie Park are very encouraging and provide a strong foundation for our future activities at this project,” Mr Williams said.
“AKN continues to make strong progress with its drilling program at Koongie Park and we look forward to presenting further results over the next couple of months.”
AuKing is planning to carry out a 7500 metres of RC and diamond drilling, with 50 per cent completed to date.
The company believes the drill program will continue throughout November, with more assays expected before the end of 2021.
Shares in AKN were trading up 50 per cent at 31.5 cents per share at 11:40 am AEDT.