Progress Tracker
Auking Mining ��ASX:AKN
Disclaimer: We are NOT geologists - this document is used by our team to internally to try and track AKN’s progress with its drilling program, it should not be relied upon by anyone to make any decisions. This document will change over time as the project evolves. For all disclaimers and disclosures please visit our website.
Our big bet:
AKN delivers a 10x return by discovering and defining a significant enough deposit to move into development studies for one of its projects.
NOTE: our “Big Bet” is what we HOPE the ultimate success scenario looks like for this particular Investment over the long term (3+ years). There is a lot of work to be done, many risks involved - just some of which we list in our AKN Investment Memo. Success will require a significant amount of luck. There is no guarantee that our Big Bet will ever come true.
4 February 2022 - Initial Investment + Our AKN Investment Memo
August 2022 - Pivotal copper/zinc system confirmed at Emull project + Copper Mineralisation Discovered at Cosmo Prospect
Since our Initial Investment in February, AKN has grown its total JORC resource by 30%, which now stands at:
Translating that into total contained metal, we have:
Still waiting on initial network at this stage however.
13 October 2022 - Important results from Onedin metallurgy testwork program
The key issue for AKN is NOT to do with the size nor depth of its resources at Koongie Park, but the complex metallurgy at its shallow Onedin prospect.
This metwork has uncovered very good (i.e. better than 90%) recoveries of copper from certain Onedin ores, utilising ammonia leaching.
However, zinc recoveries were more of a mixed bag. Higher grade zinc zones have been shown to be amenable to ammonia leaching, but not so much with lower grade zinc zones.
These findings will now feed into the major metallurgical testwork program for Onedin, which will commence shortly. We anticipate that this should progress through to 1H2023.
Given how shallow the Onedin resource is, if AKN can find a solution here, this would be the most logical resource to fast-track to production at Koongie Park.
19 October 2022 - AuKing acquires uranium and copper projects in Tanzania
Here are the main reasons why we like the AKN deal on first glance:
What’s next for AKN?
Uranium acquisition outcome
Further works at WA copper-zinc project�