AuKing Mining Targets 2026 Resource Estimate After Tundulu Assays

AuKing Mining (ASX: AKN) has secured initial assay results from its maiden reverse circulation drilling program at the Tundulu rare earth project in southern Malawi. The company reported wide, high-grade intersections that surpassed historical data, specifically citing 91 metres at 1.51% total rare earth oxides (TREO) and 80 metres at 1.54% TREO. These figures confirm the presence of significant mineralisation and validate the geological model previously established by earlier explorers.

The results demonstrate a distinct chemical signature characterized by elevated concentrations of heavy rare earth elements and yttrium. This enrichment differentiates Tundulu from conventional carbonatite-hosted deposits. AuKing has prioritized these findings to fast-track the development of a maiden mineral resource estimate, a critical milestone for the asset's valuation and future development.

Initial Assays Exceed Historical Benchmarks

The first three holes drilled near the historical Nathace Hill target yielded high-grade intervals that define the current mineralised footprint. One hole returned 91 metres at 1.51% TREO from 40 metres depth, containing a higher-grade zone of 43 metres at 2.00% TREO. Another hole showed 80 metres at 1.54% TREO from surface, including an 11-metre interval at 4.33% TREO. A third hole identified 20 metres at 2.06% TREO from 113 metres, with a separate 10-metre interval at 2.86% TREO.

These intersections validate the geological interpretations used by previous explorers, who did not retain drill core or chips. The current data suggests a larger mineralised extent than originally considered. The high-grade nature of these initial holes supports the company's decision to focus resources on establishing a robust resource base rather than expanding exploration immediately.

Heavy Rare Earth Enrichment Identified

The assays revealed discrete intervals with significant enrichment in heavy rare earth elements and yttrium. In one instance, a 42-metre interval contained 11.46% of its TREO as heavy rare earths and yttrium. Another hole returned an 8-metre interval where these elements represented 16.09% of the total. This specific chemical profile is a key differentiator for Tundulu, potentially influencing future processing strategies and market positioning.

Step-out drilling away from the primary target also detected mineralised intervals, indicating that the system extends beyond the immediate historic area. All reported figures are downhole lengths, as the true widths remain unknown due to the project's early stage. The geometry of the mineralisation is still under investigation, but the consistency of the heavy rare earth signature across multiple holes is a notable technical finding.

Drilling Program And Resource Timeline

AuKing has completed 4,300 metres of RC drilling across 31 holes to a maximum depth of 150 metres. Diamond drilling has reached 1,160.6 metres across four holes, with two holes extended to depths of 510 metres and 400 metres. The company is currently processing approximately 4,500 samples, with batches at Intertek’s Perth laboratory or in preparation for transport. The goal is to complete an initial 15,000-metre combined drilling program by the end of the year.

The maiden mineral resource estimate is targeted for delivery before the end of 2026. This timeline is contingent on sufficient drilling, assay data, and the completion of metallurgical and mineralogical test work. The company is fast-tracking core logging and export approvals for the deeper diamond holes. Weather conditions during the wet season may influence the pace of fieldwork, but the technical pathway to a resource estimate is now established.