Asian Battery Metals (ASX: AZ9) has announced a significant expansion of its Oval Cu-Ni-PGE Project in Mongolia’s Gobi-Altai region, with the discovery of additional massive sulphide mineralization 500 meters northwest of its previous high-grade intercept.
The latest diamond drill hole, OVD025, has intercepted an impressive 3.6-meter zone of massive sulphide mineralization from 48.2 meters depth, containing substantial concentrations of valuable minerals: 12% chalcopyrite, 10% pentlandite, 65% pyrrhotite, and 6% pyrite. This intercept is particularly significant as it sits within a broader 12.4-meter zone of mineralization starting from 44.6 meters depth.
What makes this discovery particularly exciting is its location relative to the company’s previous high-grade intercept in hole OVD021, which returned exceptional grades of 8.8m @ 6.08% Cu, 3.19% Ni, 1.63g/t E3, and 0.11% Co. The presence of two massive sulphide zones 500 meters apart suggests the potential for additional discoveries within the mineral system.
Managing Director Gan-Ochir Zunduisuren commented on the significance of the discovery: “This new massive sulphide intersection confirms that the Oval system has the potential to accumulate high-grade ores in multiple parts of the system, including the magmatic source that may be at depth.”
The company’s ongoing Phase 2 drilling program, guided by Down-Hole Electromagnetic (DHEM) surveys, has completed four holes to date, with an additional 3-4 holes planned. The next phase will focus on testing reinterpreted conductive plate targets near the high-grade OVD021 intercept.
With assays pending and expected within 4-5 weeks, Asian Battery Metals continues to demonstrate the expanding potential of its Oval Project as a significant copper-nickel discovery in Asia’s emerging battery metals corridor.
Click here to download full announcement: Additional Massive Sulphide Mineralisation at North Oval – 22 Nov, 2024
