AuKing Mining Ltd (ASX:AKN)’s Paul Williams highlights recovery rates of over 75% in test work with ore from the Onedin deposit of the Koongie Park Project with Proactive’s Andrew Scott.
The company purchased Koongie with the assumption that it hosted carbonate mineralisation, which have been backed-up by AKN’s metallurgic test work on Onedin ore.
The next stages of test work will attempt to find a suitable means to extract the iron oxides and hydroxides present in the upper reaches of the Onedin deposit, which is host to concentrations of up to 40% iron oxide.
Additionally, AuKing is poised to receive a refund from the Australian Taxation Office in excess of $550,000 – subject to final processing by the ATO – in relation to research works completed during AKN’s 2021 financial year.