Asian Battery Metals PLC (ASX: AZ9) is pleased to present its September 2024 Quarterly Activities Report, which highlights continued progress at the Yambat Project in Mongolia. Phase 1 of our diamond drilling and exploration program has completed nearly 2,900 meters of diamond drilling across the Yambat Project, focusing on our Oval Cu-Ni-PGE and Copper Ridge Cu-Au prospects. This program has yielded substantial findings, underscoring ABM’s growth potential in the critical minerals sector and our commitment to meeting Asia’s energy transition needs.
Oval Cu-Ni-PGE Prospect: Promising High-Grade Results
At the Oval Cu-Ni-PGE prospect, ABM completed 2,183.85 meters of drilling, encountering high-grade mineralization that significantly advances our understanding of the resource. Key highlights include:
- OVD021 drill hole: A massive sulphide interval of 8.8 meters from 107.2 meters with assay results showing:
- 6.08% Cu, 3.19% Ni, 1.63 g/t E3 (Pt+Pd+Au), and 0.11% Co
- Additional intercepts from OVD021 include:
- 7.85 meters @ 0.75% Cu, 0.78% Ni, 0.15 g/t E3
- 15.8 meters @ 1.36% Cu, 1.00% Ni, 0.44 g/t E3
These results extend the known mineralized strike length at Oval to over 800 meters, with the prospect open in several directions, providing clear targets for continued exploration.
Copper Ridge Cu-Au Prospect: Strong Copper Mineralization
At the Copper Ridge Cu-Au prospect, the CRS01A scout drill hole confirmed copper mineralization over a downhole length of 200.5 meters. Noteworthy intercepts include:
- 33 meters @ 0.25% Cu, 0.18 g/t Au from 113.5 meters
- 30.9 meters @ 0.24% Cu, 0.16 g/t Au from 76.3 meters
High-chargeability, magnetic, and metal factor anomalies observed through geophysical surveys align well with surface mineralization, underscoring the potential of this region for further exploration.
Looking Ahead: December Quarter Plans
ABM’s exploration program continues with the completion of high-resolution magnetics and Downhole Electromagnetic (DHEM) surveys. Our next steps include:
- Phase 2 diamond drilling, targeting high-grade sections and deeper high-grade mineralization at the Oval prospect.
- Additional exploration at Copper Ridge with an expanded ground magnetics survey.
- Further metallurgical testing at the Khukh Tag graphite project and a high-resolution magnetic survey at the Tsagaan Ders lithium project.
With a strong cash position of $4.5 million as of the September quarter, ABM is well-prepared to execute these upcoming activities.
Asian Battery Metals PLC remains committed to advancing projects that will play a crucial role in the global energy transition. For detailed updates on our progress and investment opportunities, please visit our website or contact our investor relations team.
Click here to download full announcement: Quarterly Activities/Appendix 5B Cash Flow Report – 31 Oct, 2024
