Curated News
By: NewsRamp Editorial Staff
April 16, 2024
AuKing Mining to Commence Copper Drilling at Sandiego North
TLDR
- AuKing Mining launching 1,000-meter drilling campaign at Sandiego North to explore high-grade copper mineralization, aiming to enhance project economics significantly.
- AuKing will drill 6-8 holes to a depth of up to 150 meters at Sandiego North, budgeted at $100,000, to expand on the existing mineral resource estimate.
- The drilling initiative at Sandiego North has the potential to contribute to the world's copper supply, potentially enhancing the overall project economics significantly.
- The renewed interest in the site was spurred by the recent surge in copper prices, increasing nearly 22% over the last six months, now standing at US$4.37 per pound.
Impact - Why it Matters
The drilling initiative by AuKing Mining could potentially enhance the overall project economics significantly, driven by the recent surge in copper prices. This news is important for investors and stakeholders interested in the mining industry, as it signifies the company's commitment to further exploring and expanding its copper and zinc reserves.
Summary
CEO Paul Williams discusses AuKing Mining Ltd's new drilling initiative at the Koongie Park Copper-Zinc Project in northeast Western Australia. The company is set to launch a 1,000-metre drilling campaign at Sandiego North prospect to explore further copper mineralisation. This comes after significant findings from past drilling, and aims to expand on the existing mineral resource estimate of 4.1 million tonnes at 1.4% copper and 4.3% zinc.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, AuKing Mining to Commence Copper Drilling at Sandiego North
