Drilling Planned for Mkuju Uranium Project

AuKing Mining Limited (ASX: AKN) is pleased to confirm that final arrangements are being made prior to the commencement of its proposed Stage 2 exploration drilling program at the Mkuju Uranium Project in southern Tanzania.

AuKing Managing Director, Paul Williams said AuKing is looking forward to proceeding with its Stage 2 drilling program at Mkuju, after the initial Stage 1 activities in late 2023 identified potential significant areas of uranium mineralization.

“The planned maximum 75 drill hole (11,000m) air core/RC drilling program at Mkuju is expected to commence within the next few weeks, now that road and drill pad access has been completed. The work we carried out last year in the Stage 1 program identified several key target areas for the proposed drilling and we are keen to start generating some results from this very prospective uranium project,” Mr Williams said.

2023 Mkuju Results

On the 31st January 2024, the Company reported some excellent results from its initial Stage 1 exploration program conducted at the Mkuju uranium project including the following:

Auger drilling

MKAU23_020 3m @ 1,273ppm U3O8 incl 1m @ 3,350ppm U3O8

MKAU23_045 3m @ 250ppm U3O8 incl 1m @ 410ppm U3O8

Soil samples

MKGS006 510ppm U3O8

MKGS017 8,800ppm U3O8

MKGS056 960ppm U3O8

Rock chip samples

MKGS056 2,250ppm

MKGS057 800ppm U3O8

(See AuKing release to ASX on 31 January 2024 for full details).

The results from the Stage 1 program (together with the historical radiometric survey previously undertaken by Mantra Resources) enabled Auking to develop the key target areas for proposed Stage 2 drilling program as illustrated in Figure 1 below:

Figure 1 - Proposed Stage 2 Mkuju drilling locations.

Mkuju Stage 2 Program Aims and Activities

There are some key aims associated with the proposed Stage 2 drilling program at Mkuju as follows:

• Carry out the first detailed exploration drilling program in this region to the immediate south of the world class Nyota uranium deposit;
• Test the high priority target areas that have emerged from the Stage 1 program and sit within the historical Mantra Resources radiometric survey;
• Carry out a drilling pattern of several holes for each target area in order to maximise the prospects of intersecting uranium mineralization; and
• Test the potential mineralized extents of certain target areas in the three new Eastern PLs that coincide with the Mantra radiometric anomaly; and
• Generally, provide the basis for a further Stage of drilling that will primarily be focused on establishing an initial mineral resource estimate (MRE) at Mkuju.

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