AuKing Mining Limited (ASX:AKN) has completed an upgrade of its existing JORC (2012) Mineral Resource Estimate (MRE) at its Koongie Park copper/zinc project in north-eastern Western Australia.
The company has significantly increased its MRE by 30% and the new total resources estimate is as follows: 8.9Mt @ 1.01% Cu, 3.67% Zn, 0.16g/t Au, 32g/t Ag and 0.77% Pb.
AKN is very pleased to provide the updated JORC resource estimate for Koongie Park. The additional data obtained from recent drill programmes conducted last year and the findings from a detailed AKN structural geology review have significantly improved the confidence in the geological models for Onedin and Sandiego,” CEO, Paul Williams, said.
“This has provided the basis for the 30% increase in tonnage and nearly 100% of the resource is now in the Indicated classification.
“The new Koongie Park Resource Estimate has provided many opportunities for AKN to target higher grade extensions and repetitions within favourable host rocks and structures in other areas adjacent to the Onedin and Sandiego deposits.”
AKN engaged CSA Global to undertake an independent Mineral Resource Estimate (MRE) for the Onedin and Sandiego deposits.
The considerable advances in the Koongie Park MRE are due largely to the following factors:
(a) The results from AKN’s drilling program at both Onedin and Sandiego completed in late 2021;
(b) The findings from a recently completed structural geology study at Onedin and Sandiego commissioned by AKN; and
(c) An overall improved understanding of the geological controls on mineralisation in this region. Each of the above factors have provided the confidence to allow the updated Koongie Park MRE to be almost entirely (97%) included in the Indicated resource classification.
In addition, the new MREs allow for:
- A slight increase in copper tonnes;
- Significant increases in zinc and silver tonnes; and
- Inclusion of lead tonnes in the MRE for the first time. No provision has been made at this stage for the cobalt and molybdenum discoveries, pending further drilling and assessment of the potential extent of these minerals across the two deposits.
AKN is currently anticipating receipt of assays of the historical diamond drilling core samples from Sandiego, to assess potential extent of cobalt mineralisation across the deposit.
