AuKing Mining Ltd (ASX:AKN) plans to start its first drilling program later this month at Koongie Park Copper-Zinc Project in the highly mineralised Halls Creek region of northeast Western Australia.
This combined reverse circulation (RC) and diamond drill program will comprise a minimum of 30 holes for 7,000 metres to test mineralisation at depths of between 130 and 900 metres at the highly prospective Sandiego and Onedin deposits.
It will use an RC rig and a multi-purpose rig that will drill RC pre-collars before converting the rig over to complete the diamond drilling to greater depths.
The program is designed to:
- Improve geological interpretation and resource confidence;
- Test potential mineralised extensions at depth and along strike; and
- Obtain fresh samples to conduct metallurgical test-work, especially near-surface ores at Onedin.
It is expected to take three months to complete with first assays expected in early September and these will feed into an updated resource estimate later this year.
First drilling program
AKN chief executive officer Paul Williams said: “The board is pleased to announce the commencement of AKN’s first drilling program at Koongie Park.
“After successfully raising $7 million in our recent public offer, AKN’s exploration team has been able to maximise the extent of the program.
“In an environment, where access to drilling rigs, personnel and project logistics is very tight, we are fortunate to be able to commence the program so soon after ASX re-listing.
“AKN’s drilling program is intended to provide the basis for regular result updates over the coming weeks and months before establishing the platform for an updated JORC resource before the end of the year.”
Previous results
Previous drilling at Koongie Park resulted in multiple high-grade intercepts that have been used by the company to set the targets for the upcoming program.
Best previous results include:
At Sandiego
- 77 metres at 1.65% copper, 9.7% zinc and 0.54g/t gold; and
- 68 metres at 6.8% copper, 9.6% zinc and 0.34g/t gold.
At Onedin
- 40.1 metres at 1.31% copper and 4.89% zinc;
- 22 metres at 1.1% copper, 21% zinc and 0.6g/t gold; and
- 30 metres at 1.1% copper and 11.7% zinc.
The asset has existing JORC 2012-compliant resources of 6.36 million tonnes at 1.3% copper, 4.1% zinc, 0.3 g/t gold and 26 g/t silver.