AuKing Mining Intersects Multiple Carbonatite Intrusions at Malawi Rare Earth Project, Shares Up 4%
AuKing Mining (ASX:AKN) intersected multiple carbonatite intrusions in both the western and eastern sectors of Tundulu Hill during drilling at its Tundulu rare earth project in southern Malawi, according to a Wednesday Australian bourse filing.The company said more than 3,850 meters of reverse circulation (RC) drilling have been completed across 27 holes of the proposed upsized 15,000-meter combined RC and diamond drilling program, following a carbonatite drillhole hit rate of greater than 95% to date.With the remaining complexes at Makhanga Hill, Namuka Hill, and Chigwakwalu Hill yet to be drill-tested for rare earth mineralization, the overall scale potential of the Tundulu system remains "highly compelling," the filing said.The company's shares rose 4% in recent Wednesday trade.
