AuKing Mining Ltd (ASX:AKN) has completed a reverse circulation (RC) drill program of 4,334 metres across 28 holes at the flagship Koongie Park Copper-Zinc Project in Western Australia’s Halls Creek Region.
With 1,600 metres of diamond drilling to now follow, the company’s drill program will be targeting strong conductive anomalies offset from known mineralisation at Onedin and Sandiego, the project’s two primary deposits.
The current drilling program is focused on various target areas, designed to significantly expand the existing Koongie Park resource estimates – after last year’s 6,500 metres drill program led to a 30% increase in the company’s mineral resources from 6.8 million tonnes to 8.9 million tonnes.
Drill targets
Initial XRF results from the eight holes drilled at Emull Prospect suggest that mineralisation continues at depth and that historical drilling has not defined the extent of mineralisation along strike and both up and downdip.
A total of 14 holes have been drilled at the Cosmo prospect – an area that has largely been untested by any previous drilling.
Preliminary visual observations and pXRF analysis have indicated the presence of mineralisation in some of these Cosmo drill holes, but full details will not be known until assay results are received.
At Onedin and Sandiego deposits, the RC pre-collar drilling at both target areas has been completed and now awaits the diamond drilling rig to carry out a total of 1,600 metres of drilling (400 metres per hole) into the conductor source targets.
Issue of shares and options
AuKing has recently completed the issue of various shares and options after approval at the recent annual general meeting.
This included the issue of a further seven million shares at an issue price of 14 cents per share.