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 located in northeast Western Australia. This strategic move is aimed at further exploring the area's potential, following previous drilling results that revealed significant copper and zinc grades, including 5 metres at 1.37% copper from 50 metres and 2 metres at 1.71% copper from 85 metres.
The Sandiego North prospect is renowned for its high-grade copper and zinc deposits, alongside traces of gold, silver, and lead. With a budget of $100,000, the drilling campaign seeks to expand the current mineral resource estimate, which stands at 4.1 million tonnes at 1.4% copper and 4.3% zinc. The initiative is timely, given the recent 22% surge in copper prices over the last six months, now valued at US$4.37 per pound, making the exploration even more economically viable.
Paul Williams, CEO of AuKing Mining Ltd, discussed the drilling initiative with Proactive's Jonathan Jackson, highlighting the potential of the Sandiego North prospect to significantly improve the overall economics of the Koongie Park project. The company plans to drill 6-8 holes, reaching depths of up to 150 metres, to assess the extent of the mineral deposits.
This drilling campaign represents a critical step for AuKing Mining Ltd in leveraging the current market conditions to explore and potentially expand its resource base. The findings could have substantial implications for the mining industry, particularly in the copper and zinc sectors, by contributing to the global supply of these essential metals. For more information on AuKing Mining Ltd and its projects, visit https://www.aukingmining.com.au.
