AuKing Mining defines massive rare earth system
AuKing Mining (ASX:AKN) announced an exploration breakthrough following the interpretation of its high-resolution, drone-based LiDAR and magnetic survey at the Tundulu Rare Earth Project in southern Malawi.
The newly acquired airborne dataset reveals that historical drilling barely scratched the surface, testing only a limited portion of what is now confirmed to be a large-scale carbonatite intrusive complex.
The survey mapped the sub-surface architecture and structural controls linked to rare earth element mineralisation, centred on Nathace Hill.
Magnetic data outlines a ring-style intrusive architecture spanning a 3-kilometre scale system, identifying multiple untested intrusive margins and structural corridors as priority, drill-ready targets beneath shallow sedimentary cover.
Independent verification from a former senior Rio Tinto geophysicist has fully validated AuKing's interpretations.
Capitalising on these findings, exploration activity has swiftly escalated. Mobilisation of a reverse circulation drilling rig has commenced at the project site to kickstart a planned 10,000-metre drilling programme conducted by Thompson Resources.
A complementary diamond drill rig is expected to arrive later this month.
AuKing Managing Director Paul Williams highlighted that the survey enhances the company's understanding of the system's vast scale.
At the time of reporting, AuKing Mining’s share price was $0.022.
