AuKing Mining Secures Broad Molybdenum, Copper, and Silver at Onedin Deposit

AuKing Mining Limited (AKN) has received further high-grade assay results from the final three holes of the drilling program at the Onedin deposit at the Koongie Park Project late last year - AORD005, AORD006, and AORD007. The latest assay results confirm high grade copper, zinc, silver, molybdenum, and other mineralization in the known mineralized zones at Onedin.

Diamond drill holes at the Onedin totaled 1,433 meters in length and a maximum depth of 243 meters. These results complement mineralization to the south of drill hole AORD004, which reported 46 meters of 105.3 meters of copper, 0.76% zinc, 0.70% lead, 55 g/t silver, and 106 ppm molybdenum in late February.

Paul Williams, CEO of AKN, said, "The results from these last three holes highlight the continuity of high-grade copper, zinc, lead, silver, and molybdenum in the Onedin deposit. If we determine economic recoveries from the metallurgical test work program, Onedin could become a significant mining development opportunity."

Once AuKing Mining has received and reported the results of the seven Onedin drill holes, these drill core samples will be made into composite samples for the metallurgical test work program.

The first phase of the program will be conducted in collaboration with Simulus Laboratories in Perth and will include a demonstration of economic metal recovery rates; comparison with conventional process processing; optimization of reagent use and dosing; initial processing kinetics; and possible product options.

The program will take approximately 6-8 weeks to complete, allowing AKN to report the results of the Phase I program in April 2022.

The Koongie Park project is located in northeastern Western Australia in the highly mineralized Halls Creek area. It consists of 15 licenses, including two mining licenses, eight exploration licenses, and five prospecting licenses, covering an area of over 500 square kilometers. The asset has a current JORC 2012 resource of 6.8 million tonnes at 1.3% copper, 4.1% zinc, 0.3 g/t gold, and 26 g/t silver.

Auking has identified multiple drill targets to expand the existing resources at the Sandiego and Onedin deposit.

AuKing Mining is an ASX-listed Australian company that explores and develops mineral projects in Australia, Chile, and Laos. In February last year, AKN entered into an earn-in and joint venture agreement with Anglo Australian Resources NL which provides AKN with the right to earn up to a 75% interest in the Koongie Park project through the completion of $3 million in exploration expenditures over a three-year period. Since then, AKN has completed these earn-in commitments and currently holds a 75% interest in the joint venture.

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