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AuKing Mining Limited (ASX:AKN)

ALERT: Price-sensitive ASX Announcement for AKN
Current share price for AKN : $0.028 0.008 (40%)+
Announcement
Release
2 Jul 2026 8:23AM
Price at Release
$0.020
Full Release
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Summary
AuKing Mining Limited has announced significant progress in its drilling activities at the Tundulu Rare Earth Project in Malawi. The company has completed over 3,000 meters of reverse circulation (RC) drilling across 21 holes as part of a planned 10,000-meter drilling program. Geological logging confirmed carbonatite intersections in 20 out of 21 drill holes, suggesting a potential for a larger system than previously thought. The drilling also revealed carbonatite at the Kamilala Hill target, 500 meters from Nathace Hill, affirming recent geophysical survey interpretations. The company plans to commence diamond drilling soon to further explore these extensions. The Tundulu exploration license transfer is pending approval, and AuKing continues its operations under an agreement with Tusker Minerals Limited.
Key Points
  • Over 3,000m of RC drilling completed across 21 holes.
  • Carbonatite intersections confirmed in 20 of 21 drill holes.
  • Potential for a larger carbonatite system than initially anticipated.
  • Carbonatite found at new Kamilala Hill target area.
  • Diamond drilling scheduled to begin later in July.
  • Tundulu exploration license transfer is under review.
  • Continued operations under an agreement with Tusker Minerals Limited.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.