AuKing Secures Drilling Contract for Tundulu Rare Earths Project

Drilling Contract Finalised Ahead of Mid-May Start

AuKing Mining Limited (ASX:AKN) has formalised a drilling services agreement with Thompson Resources, a seasoned southern African contractor, to undertake a minimum 5,500 metres of combined reverse circulation (RC) and diamond drilling at the Tundulu Rare Earths project in Malawi. The program is scheduled to begin mid-May 2026, with Thompson mobilising an RC rig first, followed by a diamond rig in early June. The contract includes provisions to significantly extend the campaign depending on initial results and operational factors.

The drilling campaign aims to test structural controls, lateral extensions, and vertical continuity of rare earth element (REE) mineralisation across multiple targets at Tundulu, including Nathace Hill and Tundulu Hill. Priority holes will focus on southwest extensions and a southern corridor, with a combination of step-outs, infill, and twin holes designed to validate historical data and expand known mineralisation. Deep diamond holes are planned to probe the core architecture of the carbonatite system, while angled and vertical fence holes will explore intrusive geometries and high-grade zones identified from previous rock chip and shallow drilling results.

Licence Transfer Nears Completion as Consultants Join Team

Meanwhile, all outstanding documentation for the transfer of the Tundulu exploration licence (EL 0731/24) to AuKing’s Malawi subsidiary, Tundulu Rare Earths Limited, has been lodged with the Malawi Mines and Minerals Regulatory Authority (MMRA). Final approval is expected imminently, clearing a key regulatory hurdle for AuKing to fully consolidate its interests in the project.

To bolster its technical capabilities, AuKing has engaged highly experienced geological consultants with deep expertise in Malawi carbonatites. These specialists have already begun contributing to strategic planning for the drilling campaign, bringing valuable regional knowledge and insights to optimise drill targeting and exploration outcomes.

Airborne Survey Data to Refine Drill Targets

Complementing the drilling preparations, AuKing recently completed a drone-based airborne magnetics and LIDAR survey covering the entire 5-kilometre diameter carbonatite intrusive complex at Tundulu. This survey encompasses key historic drilling areas such as Nathace Hill and other topographic highs including Makhanga, Namuka, Ichigwakalu, and Tundulu Hills. The primary objective is to delineate subsurface intrusive architecture and structural controls on REE mineralisation, thereby refining drill targets ahead of the program.

The survey data is currently being processed and will be released publicly in due course, potentially providing fresh insights into the project’s geological framework and mineralisation potential. This latest geophysical work builds on the earlier drone survey that set the stage for the upcoming campaign, highlighting AuKing’s methodical approach to exploration at Tundulu drone-based magnetics and LiDAR survey.

Funding and Strategic Positioning

AuKing’s ability to advance the Tundulu project with this drilling program follows recent capital raises totalling $5 million, which have supported the acquisition of the Tundulu Rare Earths Project and additional Tasmanian tin and silver licences. The funding underpins exploration activities and positions AuKing to leverage its growing portfolio of critical minerals assets. The company’s strategic focus on rare earths aligns with global supply chain interests in securing these essential elements for clean energy and technology applications $5M equity raises.