Mkuju, Tanzania (Uranium)

In January 2023, AuKing announced completion of the acquisition of its 100% interest in six projects in Tanzania (Ref ASX Release 31 January 2023).

Mkuju is currently the priority focus of exploration activities in Tanzania and is located immediately south of the world class Nyota uranium project which is being developed by Mantra Tanzania (a member of the Rosatom Group).

Mkuju Project Location

AuKing’s Tanzanian subsidiary (92U Tanzania Limited) completed an initial Stage 1 exploration program at Mkuju in the latter part of 2023. This initial program was the first time AuKing’s personnel had been to this region and there were several logistic issues that arose, causing program delays. The Stage 1 program comprised a series of activities including:

• Field surveying/mapping
• Soil and rock chip sampling
• Auger drilling
• Diamond drilling (only 52m drilled before program suspended).

The activities conducted in Stage 1 were carried out with reference to the Mantra Resources’ 2007/08 radiometric survey. The most pleasing aspect of the Stage 1 program was to establish significant correlation between pXRF/assay results that measured higher grade uranium mineralization along the anomalous zones of the radiometric survey.

A detailed summary of results achieved from the Stage 1 soil sampling and rock chip exploration program at Mkuju is set out in ASX Releases dated 16 October and 20 November 2023 respectively). A total of 66 sample results included highlighted pXRF results of:

• 499ppm U₃O₈ from rock chip sample MKGS001
• 481ppm U₃O₈ from rock chip sample MKGS006
• 6,213ppm U₃O₈ from rock chip sample MKGS021
• 652ppm U₃O₈ from rock chip sample MKGS056
• 1,344ppm U₃O₈ from rock chip sample MKGS056
• 549ppm U₃O₈ from rock chip sample MKGS057

A summary of the auger drilling results achieved from the Stage 1 exploration program at Mkuju are highlighted below and also set out in full in Annexure A of ASX release dated 29 December 2023:

Mkuju highlighted auger drilling results