Askari Metals Limited (ASX:AS2) Upgrades Burracoppin Gold Project Resource
Mineral Resource Upgrade
Askari Metals Limited (ASX:AS2) announced an upgrade to the JORC (2012) Mineral Resource Estimate for its 100%-owned Burracoppin Gold Project in Western Australia. The updated MRE shows 2.14Mt at 1.2 g/t Au, a 28% increase from the previous estimate, containing 82,700 ounces of gold using a 0.55 g/t Au cut-off grade. With an alternate cut-off of 0.3 g/t Au, the resource extends to 3.6Mt at 0.87 g/t Au, containing 101,000 ounces of gold.
Drilling Highlights
The resource upgrade includes zones across Benbur-Christmas Gift, Easter Gift, and Lone Tree prospects. Notable drill intercepts include 3m @ 17.41 g/t Au from 73m downhole at Easter Gift, 6m @ 2.37 g/t Au from 31m at Benbur, and 10m @ 1.38 g/t Au from 34m at Christmas Gift.
Investor Interest
Askari Metals has received significant inbound interest for the Burracoppin project, supported by a record high A$ gold price and strong drilling results. The Company is in ongoing discussions with interested parties about potential transactions that could provide additional value to shareholders.
Executive Comments
Director Mr Gino D’Anna stated, “The update to the MRE at the Burracoppin Gold Project has presented the Company with renewed opportunities to discuss the ongoing development and growth of the project with interested parties. As Burracoppin approaches the 100koz aspirational target, we see tremendous upside in future drilling programs designed to test a number of high priority exploration targets that we identified previously. Discussions with interested parties are ongoing and this will serve to fast track those discussions. Exploration and RC drilling at the Burracoppin project by Askari resulted in several high-grade shallow gold intersections being encountered including 3m @ 17.41 g/t Au from 73m downhole in ABRC069. Significant exploration potential and resource expansion upside remains at Burracoppin.”
Motley Fool contributor Abbie Stokes 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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