AuKing Mining completes purchase of Grand Codroy Uranium Project

Proactive - Interviews for investors

AuKing Mining Ltd (ASX:AKN) managing director Paul Williams joins Proactive’s Tylah Tully to discuss the company’s completed acquisition of the Grand Codroy uranium exploration project in Newfoundland, Canada. The project is 50 kilometres north of Port aux Basques and covers 2,200 hectares. Notable historical uranium mineralisation includes samples with high uranium concentrations, such as 22,000 ppm uranium at Grand Codroy River and 595 ppm at Overfall Brook. The project area has similarities to sandstone-hosted uranium districts in the western United States, known for low-cost in-situ recovery operations. The mineral claim has significant exploration potential, as the region has largely been unexplored with modern techniques. The acquisition terms include a cash payment of A$50,000 (deferred to November 30, 2024), the issuance of 21,428,571 AuKing shares, and further shares worth A$100,000, subject to shareholder approval. Additionally, a 2% net smelter royalty is attached, with an option for AuKing to purchase 1% of the royalty for A$1 million. AuKing plans to begin soil sampling before the Canadian winter, spurred by investor interest and positive regional results from other companies like Infini Resources Ltd. #ProactiveInvestors #AuKingMining #ASX #UraniumExploration #GrandCodroyProject #Newfoundland #MineralExploration #CanadaMining #SandstoneUranium #InSituRecovery #InfiniResources #CopperSamples #UraniumSamples #MineralClaim #MiningAcquisition #ASXListed #SoilSampling #ExplorationPotential #UraniumMarket #MiningIndustry #CanadianMining #GrandCodroy #PortAuxBasques