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The latest update is out from DY6 Metals Ltd. ( (AU:TSK) ).
AuKing Mining has agreed to acquire 100% of the Tundulu Rare Earth Elements Project in south-eastern Malawi, a 91.5-square-kilometre carbonatite ring complex hosting high-grade rare earth and phosphate mineralisation. The project, situated in an emerging rare earths district near other major deposits, is supported by extensive historical drilling and rock chip results indicating significant TREO grades with favourable heavy and medium rare earth content.
The company plans to commence modern, REE-focused exploration and an initial drilling campaign soon after completing the acquisition, aiming to deliver a maiden Mineral Resource estimate within 12 months. If successful, the move would strengthen AuKing’s positioning in the critical minerals sector and potentially unlock a district-scale rare earths asset with low levels of deleterious elements, enhancing its appeal to investors and downstream stakeholders.
More about DY6 Metals Ltd.
AuKing Mining Limited is an ASX-listed resources company focused on critical minerals exploration, with a growing portfolio that now includes rare earth elements projects. The company is expanding its presence in Africa, targeting high-grade, under-explored carbonatite-hosted rare earth systems in Malawi to capitalise on rising demand for rare earths in global technology and energy markets.
Average Trading Volume: 161,812
Technical Sentiment Signal: Sell
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