Acquisition of promising Grand Codroy uranium project in Newfoundland

AuKing Mining Limited (ASX: AKN) has announced its proposed acquisition of a 100% interest in the Grand Codroy uranium exploration project in Newfoundland, Canada. The project features uranium mineralisation within organic-rich siliciclastic rocks, similar to sandstone-hosted uranium districts in the western United States. Historical rock samples have shown notable high grades, including over 20,000 ppm (2%) Cu and significant uranium values, such as 435 ppm U. The Grand Codroy area remains largely unexplored, with promising results reported by nearby Infini Resources Limited at its Portland Creek project. Strategically situated approximately 50 km north of Port aux Basque, Newfoundland, the mineral claim boasts excellent road access. To support this acquisition, AuKing is raising AU$130,000 through a placement to sophisticated investors led by Peak Asset Management.

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