AuKing Mining (ASX:AKN) has opened its maiden drilling campaign at Tundulu with three broad rare earth intercepts that have already pushed the project toward a maiden Mineral Resource.
The standout results include 91m at 1.51% TREO from 40m, including 15m at 3.40%, and 80m at 1.54% TREO from surface, including 11m at 4.33% TREO from just 2m. A third hole returned 20m at 2.06% TREO from 113m, including 12m at 3.24%.
The market noticed.
AuKing shares are up around 30% on strong volume in morning trade as investors digested a maiden set of assays that did more than validate Tundulu. They improved on the historical picture.
Width, grade and a market wake-up
The results already had enough punch on width and grade alone.
Then came the heavy rare earth component.
Tundulu has returned unusually high HREE+Y enrichment, including 42m at 11.46% HREE+Y/TREO and 8m at 16.09%.
That is the sort of detail that can turn a good rare earth result into a more strategically interesting one.
The share price move suggests investors are already starting to reassess the project.
Figure 1: Tundulu Drill holes 26NH004 and 26NH029s cross section.
Better than the old drilling
The first two holes were drilled largely to validate historical work around Nathace Hill.
Instead, the new assays exceeded those earlier results and extended the mineralisation profile.
AuKing is not simply rediscovering old geology, it is upgrading it.
The next holes could get even more interesting
The RC campaign has completed 4,300m across 31 holes, while diamond drilling has already pushed into deeper carbonatite at 400m and 510m.
Those deeper holes are now being prioritised for assay.
If they confirm meaningful rare earth mineralisation at depth, the scale question changes quickly.
The market has voted early
AuKing is now moving toward a maiden Mineral Resource Estimate, with more assays due over the coming weeks.
The early share price reaction has been sharp.
That does not prove Tundulu is a mine, but it does show one thing clearly.
The first three holes were enough to make the market pay attention.
