Auking Mining Limited (ASX: AKN) (“Auking” or the “Company”) has agreed to acquire a 100% interest in the Tundulu rare earth elements (REE) project in south-eastern Malawi (Proposed Acquisition).
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- Auking to acquire 100% of the Tundulu rare earth project in south-eastern Malawi – a 5km diameter intrusive carbonatite complex1One of the largest and least explored rare earth systems in the country. The project is de-risked by high-grade historical drilling (originally targeting phosphate), highlighting the strong potential for a significant rare earth discovery while applying modern and REE targeted exploration.
- Established carbonatite-hosted rare earth system including historical high-grade drilling results2: :
- JICA Drilling (1G87, max depth 50m):
- 8 m (JMT-22) to 41 m @ 3.7% TREO (hole terminating in mineralization)
- 15 m to 35 m @ 2.7% TREO, including 36 m (JMT-17) to 14 m @ 4.1% TREO (hole terminating in mineralization).
- Coarse-angled/Optichem drilling (2014–2015, average hole depth 127 m, multiple holes targeting phosphate terminating in high-grade REE mineralization):
- 15m @ 3.46% from TREO 73m (TU071)
- 41m (TU048) to 31m @ 2.27% TREO
- 30 m from surface @ 4.03% TREO (TU014)
- 30 meter (TU042) to 100 meter @12.6% P2O5 and
- Surface G7m @ 14.4% P2O5 (TU050)
- A total of 24 historical drill holes drilled in the project area ended in mineralization, including 8 drill holes that ended in more than 2% TREO. For example, drill hole TU073 recorded 10m @ 3.13% TREO from 113m to end of hole (EOH).
- Drilling has confirmed carbonatite geology at Nathes Hill, which represents one of five topographic heights at the Tundulu Project, with strong potential for carbonatite mineralization at Makhanga Hill, Namuka Hill, Ichigwakalu Hill and Tundulu Hill.
- In 1988 historical rock chip samples from the JICA program were returned for examination (for drill testing) including:
- 6.07% TREO on Tundulu Hill eastern flank (Sample 7Y1G6)
- 6.41% TREO at Nathes Hill (Sample 7Y386)
- Located within an emerging world-class rare earth district in southern Malawi, adjacent to Lindian Resources’ Kangankunde Project (261 Mt @ 2.61% TREO) and Songwe Hill Project (21 Mt @ 1.41% TREO).
- Mineralization appears to be high in valuable heavy rare earth elements (HREEs) and medium rare earth elements (MREEs) with low levels of uranium and thorium.3
Paul Williams, managing director of Auking, said: “The Proposed acquisition Of tundulu rare Earth Project represents A Ahead exciting step In aukings strategy To Construction “Access to critical minerals through high quality exploration assets.”
“Tundulu is a district-scale carbonate ring complex in southern Malawi that has an interesting profile of bastnasite and apatite, contains abundant rare earth minerals and is easily accessible by road. Auking intends to commence exploration activities following completion of the acquisition, with an initial drilling program planned to further the understanding of the mineralization. Based on the results, the Company targets delivery of a preliminary mineral resource estimate within the next 12 months. Has been.”
Tundulu Project Overview
Tundulu Rare Earth Elements (REE) Project covers an area of 91.5 km2 Under exploration license EL 0731/24. The license area is located approx. In the Phalombe District of Malawi’s Southern Region, 70 km south-east of Zomba city and 90 km east of Blantyre. All-weather roads connect these centers to Migovi town, about 25 km from Tundulu, which is accessible by dirt/gravel roads. Migovi is connected to the national electricity grid. The climate of the Tundulu region is subtropical, with average annual rainfall between 900–1400 mm.
Tundulu is a well-known carbonatite complex in southern Malawi, rich in REE minerals. The project is composed of several hills in a ring around a central vent called Nathes Hill, where most of the historical surface sampling and drilling has been conducted.
The predominant geology of Nethers Hill is REE and apatite-rich carbonatites and feldspathic breccias and includes a large internal conglomerate vent. Mineral-rich carbonatite is also found at Tundulu Hill, east of Nathes Hill, and Makhanga Hill, west of Nathes, and is largely unexplored and prospective for REEs.
The occurrence of carbonatites in the presence of phenites and breccias is widespread throughout the area, with less but significant mineralization in the breccias/agglomerates. Rare earth carbonatites show the highest grades of REE while the other host mineral, apatite, has phosphate grades ranging from about 5% to 30% P2O5. Lithological strip logs of the drillhole also show a good correlation between enriched apatite (P2O5) and abundant HREEs.
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