AuKing Mining Ltd (ASX:AKN) has announced the commencement of a 1,000-metre drilling campaign at the Sandiego North prospect, part of its Koongie Park Copper-Zinc Project in northeast Western Australia. This initiative is driven by promising results from previous drilling activities, which uncovered significant copper grades, including 5 metres at 1.37% copper from 50 metres and 2 metres at 1.71% copper from 85 metres. These findings are situated approximately 700 metres north of the existing Sandiego deposit, highlighting the area's potential for substantial mineral resources.
The Sandiego North prospect is renowned for its high copper and zinc grades, alongside traces of gold, silver, and lead. With a budget of $100,000, the current drilling campaign seeks to build upon the existing mineral resource estimate of 4.1 million tonnes at 1.4% copper and 4.3% zinc. The decision to intensify exploration efforts at this site is further justified by the recent uptick in copper prices, which have seen a 22% increase over the past six months, reaching US$4.37 per pound. This surge in copper prices presents a timely opportunity for AuKing to enhance the overall economics of the Koongie Park project.
Paul Williams, CEO of AuKing Mining Ltd, discussed the new drilling initiative with Proactive's Jonathan Jackson, outlining the company's plan to drill 6-8 holes to a depth of up to 150 metres at the Sandiego North prospect. This strategic move underscores AuKing's commitment to unlocking the full potential of its assets in Western Australia, leveraging the current favorable market conditions for copper and zinc. For more information on AuKing Mining Ltd and its projects, visit https://www.aukingmining.com.au.
