AuKing Mining Ltd (ASX:AKN) managing director Paul Williams sits down with Proactive’s Jonathan Jackson to discuss the company’s proposed acquisition of a 100% interest in the Myoff Creek Niobium/REE Project in British Columbia, Canada.
This project is notable for its extensive near-surface carbonatite mineralisation, which spans 1.4 kilometres by 400 metres, as revealed by historical exploration. Among the high-grade intercepts recorded are 0.93% niobium and 2.06% total rare earth oxides (TREO). The mineralisation remains open at depth and along strike, suggesting substantial potential for further discoveries and expansion, with maximum detection limits of niobium and cerium found in rock chips about 2 kilometres away from the previously drilled zone.
The Myoff Creek claims are strategically positioned in the South-Central mining region of British Columbia, an area renowned for its rich mineral deposits. The site benefits from excellent accessibility, thanks to well-maintained road infrastructure leading directly to the area. AuKing has already identified drill targets, setting the stage for a comprehensive upcoming work program aimed at further exploration and development.
In addition to these plans, AuKing has proposed a capital raising effort, including a placement of $150,000 and an upcoming rights issue for existing shareholders.
Williams cited strong market interest in the exploration and development of niobium and rare earth elements (REE). He highlighted the project's 40-year history of exploration, including drilling programs that have mapped a significant area of near-surface niobium-REE bearing carbonatite hosted mineralisation. Upon completing the acquisition, AuKing intends to immediately launch a detailed soil sampling and initial drilling program based on the historical data.