The Koongie Park copper/zinc project is situated in the highly mineralised Halls Creek Mobile Belt which also hosts the Savannah (Sally Malay) and Copernicus nickel projects, the Argyle diamond mine and the Nicolsons gold mining operation of Pantoro Limited. Koongie Park is located about 25kms south west of the regional centre of Halls Creek on the Great Northern Highway in north-eastern Western Australia.
AKN has secured a 50% ownership of the Koongie Park project, acquiring this interest under the terms of the Joint Venture with AAR. Prior to that, AAR held full ownership of the project since 2003. The tenure holding comprises an area of more than 500km2 covering over 40kms of the base metals prospective Koongie Park Formation.
Koongie Park has already been the subject of significant exploration drilling and analysis since the 1970’s, often in line with movements in commodity prices. Since its discovery the Koongie Park project has been the subject of over 245 RC and diamond drill holes consisting of more than 50,000m of drilling in total. The predominant focus of drilling has been at the Sandiego and Onedin deposits.
Koongie Park Project Location
The Board considers that acquiring an interest in the Koongie Park Project provides the Company with the platform to secure a strategic holding of prospective tenures in the Halls Creek region - enabling the Company to carry out exploration and development activities on a regional basis targeting copper, zinc and gold, with other base metals deposits. In their Independent Technical Report, CSA Global considers that “…historical exploration has been of sound quality and forms a strong basis for continued exploration. However, it has not been exhaustive and significant opportunities remain for the discovery of more VMS-style mineralisation within the Koongie Park tenements…”. In addition, CSA Global has noted the 2016 findings of a comprehensive multi-commodity prospectivity analysis of the Halls Creek Orogen conducted by the Geological Survey of Western Australia (GSWA). A base metals prospectivity map prepared by GSWA highlighted the area of the Koongie Park tenures as the most prospective for these metals in the region.