AuKing Mining Ltd: Tundulu Airborne Survey Defines Large Scale Carbonatite System

Brisbane, Australia - AuKing Mining Ltd. (ASX:AKN) announced results from its recently completed high-resolution drone-based LiDAR and magnetic survey over the Tundulu Rare Earth Project in southern Malawi. In addition, the Tundulu exploration drilling program has commenced, with the RC drilling rig mobilising at the project site.

Highlights

- Interpretation of the recently completed airborne magnetics and LiDAR survey has confirmed that historical drilling has only tested a limited portion of a much larger carbonatite intrusive complex at Tundulu, with multiple new drill-ready targets identified beneath shallow, postmineral, sedimentary cover.

- A peer review of the survey results has been completed by a former senior Rio Tinto geophysicist, validating AuKing's interpretation and observations from the airborne dataset.

- The airborne survey successfully resolved sub-surface intrusive architecture and structural controls associated with REE mineralisation, significantly enhancing the Company's understanding of the broader Tundulu alkaline-carbonatite system. Key conclusions include:

o Survey data defines the geometry and boundaries of the Tundulu carbonatite intrusion centred on Nathace Hill.

o Magnetic interpretation highlights ring-style intrusive architecture and structural controls across a ~ 3km scale system.

o Multiple untested intrusive margins, structural corridors and possible demagnetised zones have been identified as priority drill targets.

- Mobilisation of a reverse circulation (RC) drilling rig for the Company's planned 10,000m drilling program to be conducted by Thompson Resources has now commenced, with the diamond drill rig expected to be mobilised later this month.

Commenting on the survey results, AuKing Managing Director Paul Williams said:

"The airborne survey has significantly enhanced our understanding of the scale and architecture of the Tundulu carbonatite system. Importantly, it confirms that historical exploration has tested only a relatively small portion of what now appears to be a much larger intrusive complex.

The survey has identified multiple new geophysically-defined drill targets beneath shallow cover while also highlighting significant expansion potential around known mineralisation at Nathace Hill.

With drilling preparations now underway and an earn-in agreement in place providing operational access to the project, we look forward to rapidly advancing Tundulu and evaluating the broader rare earth potential of this highly prospective carbonatite system."

Results of Airborne Survey

The recent airborne survey at Tundulu was completed using high-resolution UAV-based magnetic and LiDAR systems flown at 50 metre line spacing and approximately 35 metre terrain clearance, the survey provides the first modern airborne geophysical dataset completed across the Tundulu Project area.

AuKing engaged an independent consultant to carry out a peer review of the results of the survey. This consultant was previously Chief Geophysicist for Rio Tinto's global exploration group, with expertise spanning a wide range of geophysical techniques applied to a large variety of mineral systems globally. The interpretation and conclusions drawn from the peer review form part of AuKing's recommendations for future activities at Tundulu.

Interpretation of the magnetic data has defined a large, structurally coherent intrusive carbonatite system centred on Nathace Hill, with arcuate and ring-style magnetic geometries interpreted to reflect multiple intrusive phases and structural controls associated with carbonatite emplacement.

The survey demonstrates that historical drilling has tested only a limited portion of the broader Tundulu intrusive complex, with significant portions of the interpreted system extending beneath shallow, post-mineral, sedimentary cover that has seen little to no historical exploration.

Multiple untested structural corridors, intrusive margins and possible demagnetised zones have now been identified and are considered priority targets for follow-up drilling. These features are interpreted to represent potential controls on rare earth mineralisation and have been directly incorporated into the design of the Company's drilling program.

The survey materially advances the Company's understanding of Tundulu from a historically surface-focused rare earth occurrence into a geophysically constrained alkaline-carbonatite system containing multiple large-scale exploration targets. The results reinforce the Company's view that the known Nathace Hill mineralization may represent only a portion of a substantially larger rare earth system, with significant areas of the interpreted intrusive complex remaining effectively untested beneath shallow sedimentary cover.

Figure 3* highlights the interpretation that the central Nathace Hill portion of the complex remains open in multiple directions to extend upon already defined mineralisation corridors. The gold dashed line outlines the interpreted Nathace Hill core of the broader Tundulu carbonatite system and includes the historical drill holes, while the white dashed line outlines areas beneath post-mineralisation sedimentary cover that remains largely unexplored.

RC Drilling Rig mobilizing at Tundulu

As recently announced, AuKing has contracted well-known southern African drilling contractor, Thompson Resources for its planned maiden 10,000m of combined reverse circulation (RC) and diamond drilling program at Tundulu across circa 50 drill hole targets. Provision is included for the drilling program to be significantly extended. Thompson's RC drilling rig is being mobilised and under the drilling contract Thompsons plan to mobilise their diamond rig later in June.

Auking's drilling program comprises a focused combination of RC and diamond drilling to test extensions, structural controls, and depth continuity of REE mineralisation across the Tundulu Project. At Nathace Hill, priority P1 holes target southwest extensions and the extension of a southern corridor, including step-outs, infill, and three twin holes to validate historical results and extend mineralisation along strike and at depth.

*To view the release including tables and figures, please visit:
https://investorhub.aukingmining.com/announcements/7570499

About AuKing Mining Limited:

AuKing Mining Limited (ASX:AKN) is a resource exploration and development company seeking to become a mid-tier copper, uranium and other base and precious metals producer.

The Board of AuKing Mining continues to focus on transforming the Company into a substantial mid-tier mining group, with a primary focus on acquiring and developing near-term uranium, copper, gold and other base metal production activities (both locally and overseas).

AuKing Mining's primary activity involves developing the Koongie Park copper/zinc project in north-eastern Western Australia and the suite of uranium licences in Tanzania, Africa.

Source:
AuKing Mining Limited

Contact:

Paul Williams Managing Director M: +61 419 762 487 E: p.williams@aukingmining.com Kristin Rowe NWR Communications M: +61 404 88 98 96 E: kristin@nwrcommunications.com.au