AuKing Mining (ASX:AKN) has announced it now owns 100% of the Koongie Park copper/zinc project after Astral Resources' (ASX:ARR) share dropped below 10%, leading it to withdraw from the joint venture and convert to a 1% net smelter return royalty.

AuKing CEO Paul Williams said it's a significant development for the company as it aims to develop Koongie Park assets within the coming years.

However, Astral Resources retains exploration and development rights for gold and other precious metals within the project area.

The Koongie Park copper-zinc project is AuKing's flagship venture.