AuKing Mining Limited is a resource exploration and development company seeking to become a mid-tier copper/gold/silver producer.
The Board of AuKing Mining continues to focus on transforming the Company into a substantial mid-tier mining group, with a primary focus on acquiring and developing near-term copper, gold and other base metal production activities (both locally and overseas).
AuKing Mining’s primary activity involves the proposed earn-in agreement with Anglo Australian Resources NL in relation to the Koongie Park copper/zinc project in north-eastern Western Australia. AuKing is a high potential Copper Zinc existing JORC resource.
Some key highlights of the business include:
Koongie Park hosts massive sulphide Cu-Zn deposits that occur in a similar geological setting and age as large world-class base metal deposits mined at Mount Isa and Broken Hill.
Resources – Significant Koongie Park JORC 2012 resource of 6.8Mt @ 1.30% Cu, 4.10% Zn, 72,000oz Au and 6.24Moz Ag covering two deposits 5km apart. Resources are open at depth and have potential strike extensions.
Region – Numerous other base metal prospects occur in the highly prospective tenements covering approximately 500km2 and are underexplored, increasing the probability for further discoveries
Metallurgy – Previous conventional flotation testwork on sulphide ores at Koongie Park were positive producing saleable copper and zinc concentrates. AKN also has access to ammonia based processing technology that could provide a solution for the economic treatment of near-surface oxide ores.
Project Economics – Koongie Park has been the subject of previous mining and feasibility studies. The last study established viability for mining the Santiago Cu-Zn deposit alone by open pit and underground methods using an on-site concentrator to produce saleable products.
Strong Commodity Prices – Strong prices for copper, zinc, gold and silver, the prospect of increasing project resources, and establishing metallurgical solutions for oxide ores could significantly improve project life and returns.