Asian Battery Metals PLC (ASX:AZ9) Confirms High-Grade Mineralisations at Oval
High-Grade Mineralisation Confirmed
Asian Battery Metals PLC (ASX: AZ9) has announced significant findings from its 2024 Phase 2 drilling program at the Oval Cu-Ni-PGE project. The latest assay results highlight high-grade massive sulphide intercepts from drillholes OVD026, OVD027, OVD028, and OVD029, confirming the continuity of mineralisation across the project area.
Drillhole OVD027 revealed a substantial intercept of 6.1 metres at 4.16% Cu, 3.51% Ni, 0.93g/t E3, and 0.13% Co from 98.2 metres. This drillhole also displayed continuity of high-grade mineralisation previously identified in drillhole OVD021. Furthermore, OVD026 demonstrated a broad intersection with a massive sulphide intercept of 1.8 metres hosting 3.21% Cu, 3.32% Ni, 0.69g/t E3, and 0.14% Co from 105.0 metres.
Future Exploration Plans
Managing Director Gan-Ochir Zunduisuren commented on the findings: “The 2024 Phase 1 and 2 drilling and exploration programs have confirmed the broad presence of high-grade mineralisation in the Oval gabbroic intrusion. The grades intercepted in some of the drillholes are exceptional and may be indicative of broader potential over a larger area.”
He further noted that the 2025 exploration program would focus on evaluating the size and metal content of the Oval mineral system.
Planned activities for 2025 include identifying deeper magmatic sources and exploring potential extensions of the Oval area and other nearby prospects. Drilling is expected to commence in approximately eight weeks.
Operational Details
The drilling program aimed to explore high-grade mineralisation in the olivine-amphibole gabbro at the Oval project. Notable outcomes include multiple intercepts of massive sulphide with varying metal ratios, suggesting the presence of deeper high-grade sources. Following the completion of Phase 2, the company remains optimistic about future developments as it prepares for follow-up drilling and geophysical surveys during the Mongolian winter.
Asian Battery Metals PLC remains committed to advancing its suite of mineral projects focused on the energy transition in Asia through responsible exploration and development practices.
Motley Fool contributor Lauren Surplice has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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