en.Wedoany.com Reported - AuKing Mining (ASX:AKN) has gained access to and advanced exploration at the Tundulu Rare Earth Project in Malawi, with the company signing an earn-in agreement that, combined with the latest high-resolution aerial survey results, reveals a carbonatite system larger than previously drilled.
During the license transfer review, AuKing entered into an earn-in agreement with Tusker Minerals and its Malawian subsidiary Green Exploration, thereby securing the right to advance the Tundulu project. AuKing can acquire up to a 100% interest in the project through staged cash and share payments, with performance shares converting if the project ultimately delivers a JORC resource of at least 25 million tonnes at 1.25% TREO.
Managing Director Paul Williams stated that the newly completed drone magnetic and LiDAR surveys have significantly enhanced understanding of the system. The data shows that historical drilling only tested a very small area centered on Nathace Hill, while the surveys mapped a ring-shaped intrusive structure approximately 3 kilometers in scale and identified multiple new drill targets beneath shallow post-mineral sedimentary cover.
AuKing believes Tundulu is not a small surface rare earth occurrence but a broader alkaline carbonatite system with multi-phase intrusive features, containing multiple untested structural conduits. This interpretation has been peer-reviewed by a former senior geophysicist at Rio Tinto, further enhancing target confidence.
Having gained access and refined targets, AuKing has begun mobilizing an RC drill rig, planning a drilling campaign of approximately 10,000 meters, expected to include around 50 holes, which can be extended if results support it. Thompson Resources is managing the drilling, with a diamond drill rig scheduled to arrive later in June. Initial drilling will target the southwestern extension of Nathace Hill, the southern conduit, and infill areas to verify historical results and test continuity along strike and at depth.
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