AuKing Mining Ltd (ASX:AKN) is gearing up for an initial 1,000-metre drilling campaign at Sandiego North prospect of the Koongie Park Copper-Zinc Project in northeast Western Australia, designed to test the extent of copper mineralisation to the north of the existing deposit.
Strong momentum in copper pricing prompted the company to take a closer look at the copper mineralisation near Sandiego, which already holds a mineral resource estimate of 4.1 million tonnes at 1.4% copper, 4.3% zinc, 0.2 g/t gold, 25 g/t silver and 0.4% lead.
Previous drilling revealed high-grade copper mineralisation up to 5 metres at 1.37% copper from 50 metres of depth and 2 metres at 1.71% copper from 85 metres, 700 metres to the north of Sandiego.
Potential to expand Sandiego’s value
“Previous drilling by AuKing established a significant copper mineralized copper zone approximately 700 metres to the north of the existing Sandiego deposit, which is part of the Koongie Park copper/zinc project in north-eastern Western Australia,” AuKing CEO Paul Williams said.
“A soil geochemistry program conducted across this zone last year established a clear anomalous copper mineralised corridor.
“AuKing is now preparing a drilling program to test the extent of the mineralisation, which could have a substantial impact on the overall project economics of Sandiego.”
AKN plans to drill 6-8 holes to a maximum of 150 metres of depth with additional holes to be undertaken depending on initial results.
The company has budgeted $100,000 for the program and is seeking a local contractor to minimise costs. AuKing intends to use initial portable x-ray fluorescent (pXRF) testing to record initial results and select samples for further assay in the laboratory.
The price of copper has enjoyed steady progress over the last six months, rising from US$3.58 per pound on October 16, 2023, to US$4.37 a pound today, a 21.98% increase.