AuKing Mining Ltd (ASX:AKN) has been granted three new prospecting licences at its Mkuju Uranium Project in Tanzania, establishing a significant position in an emerging uranium hotspot.
These new licences, granted by the Tanzanian Mining Commission, are east of AuKing’s existing portfolio of tenures and span more than 345 square kilometres.
The additional tenure features radiometric highs that are similar in appearance to the world-class Nyota uranium deposit to the immediate northeast.
"Strong correlation"
AuKing CEO Paul Williams said: “Our work to date has already established a strong correlation between radiometric anomalies and uranium mineralisation. In particular, the radiometric anomalies in these new areas bear a striking resemblance to the radiometric high that sits over the world-class Nyota uranium deposit.
"Exploration and drilling in these new areas will be a focus of activities in the near term.”
Initial exploration at the Mkuju project has established a strong correlation between historical radiometric anomalies and uranium mineralisation. AuKing says that these potentially strategic areas will now become a key focus of its exploration activities in the region.
Emerging uranium hotspot
AuKing has now consolidated approximately 1,070 square kilometres of exploration tenure in a region where high levels of interest are emerging for uranium exploration and development.
AuKing’s Mkuju tenure package is in a strategic position, amid a concentration of licences around the Nyota special mining licence.
Both Gladiator Resources and Sienna Mining have significant exploration programs planned for early 2024, which will likely generate a substantial level of newsflow and interest in the Mkuju region.
Licence holdings in Mkuju region (AuKing – yellow, 92U; Sienna Mining – blue, LEGZ92; Gladiator Resources – green, Zeus Resources)
The Mkuju Uranium Project is to the immediate southeast of the world-class Nyota uranium project.
Nyota was the primary focus of exploration and development feasibility studies by Mantra Resources Ltd, which was acquired by the Russian group ARMZ in a $1.16 billion takeover not long after completing feasibility studies on the project in 2011.
Mantra completed a high-resolution helicopter-borne radiometric survey over the entire Mkuju River Project area in mid-2007, identifying several uranium anomalies that require field evaluation.
Proposed additional exploration
The company’s exploration team is now formulating an exploration and drilling program across the new licence areas. It is taking immediate efforts to access the new areas to conduct initial survey activities and possibly also shallow auger drilling over selected sites before wet season rainfall later in the year.
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