AuKing (ASX:AKN) crouched for Tanzanian uranium hunt
January 31, 2023AuKing Mining has boots on the ground following its purchase of various prospective uranium and copper licences in Tanzania, including the key Manyoni and Mkuju projects, where work will begin immediately.
The exciting project includes the Itigi and Magaga uranium projects and Mpanda and Karema copper projects.
The uranium projects are either nearby or include areas subject to significant prior exploration and development up until 2012/2013, including the Mpanda just 10 kilometres down the road from the historic Mukwamba copper mine in western Tanzania that operated between 1930 and 1960.
Chief Executive Paul Williams said AuKing would take an “aggressive approach” to explore the new acquisitions.
“Already this year, we have seen uranium prices push past US$50 per pound and demand is set to increase,” he said.
“AuKing’s strategic pivot into this important energy sector commodity is a tremendous value-add for our Company and its shareholders.
We expect investor interest to grow as we work up these prospective uranium projects in coming weeks and months with plenty of news flow on the horizon,.”
AuKing Mining’s Tanzanian Project Areas
Price Action
AuKing’s (ASX:AKN) shares are 10c before today’s Market Open.
Next Steps
- Mkuju – sampling and ground spectrometer surveys; follow-up field sampling and auger drilling and trenching.g
- Manyoni – prepare initial 2012 JORC resource estimate, review existing data and identify additional information needed to further drilling to expand existing resources.s
- Itigi/Magaga – develop initial sampling program.s
- Mpanda/Karema – initial site access, soil sampling, review of available historical data.
Fundamental Data
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