The initial exploration program of AuKing Mining Ltd (ASX:AKN) at its Mkuju Uranium Project in southern Tanzania has delivered uranium grades significantly higher than previously reported pXRF field readings, strengthening the case that Mkuju could be a major extension of the nearby world-class Nyota Uranium Project.
AuKing has now received laboratory assay results from soil, rock chip and auger drilling samples taken as part of its Stage 1 exploration program at Mkuju.
"Very promising results"
“These latest laboratory assay results continue to highlight the very promising uranium results from our initial exploration and drilling at Mkuju,” said AuKing CEO Paul Williams.
“In almost all cases where we previously reported high pXRF readings from soil samples, rock chips and auger drilling, the assays have come in at significantly higher levels.
“These results continue to provide AuKing with confidence to proceed with its planned detailed drilling program at Mkuju at the end of the wet season.”.
Williams said Mkuju continued to emerge as a possible major extension of the world-class nearby Nyota Uranium Project that was sold by previous owner Mantra Resources in 2011 for $1.16 billion.
The company highlighted the following key observations from the assay results:
- Overall, a good correlation between the pXRF results derived from samples in the field and the laboratory assays – where the pXRF readings were higher, so were the assays and vice versa.
- Of interest, however, is that the assays for the higher-grade results were generally higher — in some cases by a factor of 30% — compared to the pXRF readings.
- In the areas where high uranium results were achieved, the results were considered “very high” and provide considerable encouragement for the future drilling at Mkuju.
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