AuKing Mining · ASX: AKN · 9 October 2026

Grade turns up on three sides of Nathace Hill at once

AuKing’s third batch of Tundulu assays does not beat the grades it has already reported. What it does instead is change the shape of the thing. Mineralisation now appears on the western flank, out towards the carbonatite core in the north-east, and to the south-west beyond the footprint the company had interpreted, along with the deepest intersection published at the project so far.

59 m@ 1.51 % TREO from 13 m, 26NH001
16 / 31RC holes now reported, up from nine
128 mDepth of the deepest published interval
470 × 400 mArea over which holes carry published grades

The three holes with published intervals

Nine holes had per-metre tables published in this release. Three of them carry headline intervals, and each one tests a different part of the hill. Select a hole to see where its mineralisation sits down the hole, drawn to scale.

26NH001

Western flank

150 mhole depth61°azimuth-55°dip59 mmineralised2.96 %best grade
0255075100125150150
59 m at 1.51 % TREO, 13 to 72 m24 m at 2.02 % TREO, 49 to 73 m17 m at 2.46 % TREO, 50 to 67 m5 m at 2.96 % TREO, 55 to 60 m
59 m @ 1.51 %from 13 m24 m @ 2.02 %including, from 49 m17 m @ 2.46 %including, from 50 m5 m @ 2.96 %including, from 55 m

Collared on the western flank and drilled back towards the carbonatite core. It sits beside 26NH011, the hole drilled due west in September, so this side of the hill now reads as a zone rather than a single fortunate intercept.

26NH006

North-east, nearest the core

150 mhole depth220°azimuth-55°dip56 mmineralised3.33 %best grade
0255075100125150150
47 m at 1.50 % TREO, 26 to 73 m14 m at 2.00 % TREO, 40 to 54 m6 m at 3.03 % TREO, 40 to 46 m9 m at 1.53 % TREO, 128 to 137 m4 m at 3.33 % TREO, 128 to 132 m
47 m @ 1.50 %from 26 m14 m @ 2.00 %including, from 40 m6 m @ 3.03 %including, from 40 m9 m @ 1.53 %from 128 m4 m @ 3.33 %including, from 128 m

With 26NH027, one of the two holes drilled closest to AuKing’s interpreted carbonatite core. It is also the only hole in this batch with two separate mineralised zones, the lower one at 128 m being the deepest interval published at Tundulu so far.

26NH030

South-west step-out

148 mhole depth250°azimuth-75°dip36 mmineralised3.14 %best grade
0255075100125148
36 m at 1.50 % TREO, 85 to 121 m19 m at 2.04 % TREO, 86 to 105 m6 m at 3.14 % TREO, 86 to 92 m
36 m @ 1.50 %from 85 m19 m @ 2.04 %including, from 86 m6 m @ 3.14 %including, from 86 m

A step-out beyond the footprint AuKing had interpreted, drilled steeply at 75 degrees. The managing director singled it out, on the basis that it puts grade at depth well away from Nathace Hill and suggests the airborne magnetic anomalies are marking mineralisation rather than merely host rock.

Bars are downhole lengths, not true widths, and are drawn to scale against each hole’s total depth. Indented bars are the higher-grade intervals AuKing reports as included within the one above. Hover or tap a bar for its figures.

Where the three holes sit

The useful thing about this batch is its geometry. Plotted on their surveyed collar positions, the holes carrying published grades now spread about 470 m east to west and 400 m north to south, with 570 m between the two furthest apart. The dashed circle is the central core AuKing has nominated as its priority target, and the two holes drilled nearest to it, 26NH006 and 26NH027, are both mineralised.

26NH011, 1.51 % TREO26NH002, 1.50 % TREO26NH001, 1.51 % TREO26NH029, 1.54 % TREO26NH004, 2.06 % TREO26NH005, 1.51 % TREO26NH006, 1.50 % TREO26NH030, 1.50 % TREO26NH009, assayed, no interval published26NH027, assayed, no interval published26NH003, assayed, no interval published26NH008, assayed, no interval published26NH014, assayed, no interval publishedAuKing priority target, the interpreted carbonatite core100 mN

Published gradeAssayed, no interval publishedNew on 9 OctoberPriority target, core

What this batch actually adds

Shape, more than grade. The headline numbers sit in the same band as September: 1.50 to 1.51 % TREO over tens of metres, with higher-grade cores inside them. Nothing here beats the 16 m at 5.52 % reported on 21 September. The difference is that mineralisation has stopped looking like a line across the hill and started looking like an area.

Depth. 26NH006’s second zone, 9 m at 1.53 % from 128 m, is the deepest published interval at Tundulu. 26NH030’s 36 m from 85 m sits in a hole dipping 75 degrees, so it is genuinely deep rather than merely far down a flat hole. AuKing says these give it confidence that the deeper holes will show continuous mineralisation past 400 to 500 m, which is precisely the proposition the planned 1,000 m hole exists to test. Its collar is now being planned inside the core area.

The core is being approached, not yet drilled. 26NH006 and 26NH027 are the closest holes to the interpreted core, at roughly 195 m and 169 m from it. Both carry mineralisation. That is encouraging for the target, but neither hole is in it, and the holes that were drilled into the core from its edges, including the two deepest on the project, have still not reported.

What is still to come

AuKing reports 2,242 samples assayed to date and a further 2,047 at Intertek in Perth awaiting assay, so roughly half the reverse-circulation program is still unreported. More than 1,300 m of diamond core is waiting on Malawi export permits of its own before preparation can even begin, which means no diamond core assays have been reported from Tundulu at all. The company expects a steady flow of results over the coming months, and has flagged a maiden resource estimate as the destination.

Two things worth noting about the numbers. First, the per-metre assay tables in this release are published as images rather than data, so the intervals above are AuKing’s own composites and have not been recalculated from the underlying metres. Second, in 26NH001 the quoted 24 m at 2.02 % from 49 m runs to 73 m, one metre beyond the 59 m parent interval it is reported as sitting inside. The diagram above draws both as published.

Source: AuKing Mining Limited, ASX announcement 9 October 2026, Multiple High-Grade TREO Intersections Delivered Across Nathace Hill, including Annexure A collar table and Annexure B assay tables. Collar positions are as surveyed in WGS 84 UTM Zone 36S. The core target position is georeferenced from the company’s own plan. General information only, not investment advice. Exploration results are not mineral resources, and Tundulu has no JORC mineral resource. Full interactive map at tunduluproject.com.