Asian Battery Metals Plc (ASX:AZ9) has discovered additional massive sulphide mineralisation through Phase 2 diamond drilling at its Oval copper-nickel-platinum group elements (PGE) project in Mongolia.
One drill hole at the North Oval area of the play intersected 3.6 metres of massive sulphide from 48.2 metres down hole within 12.4 metres of broad, disseminated or net textured mineralisation from 44.6 metres.
The location of this mineralisation is also prescient, as the shallow intercept found in this hole is 500 metres northwest of a previously reported massive sulphide intercept, which had comprised 8.8 metres at 6.08% copper, 3.19% nickel, 1.63 grams per tonne E3, 0.11% cobalt.
Given the identification of two massive sulphide intercepts within Oval’s Cu-Ni-PGE mineral
system, AZ9 is anticipating others could be found here.
Managing director Gan-Ochir Zunduisuren said the company would continue to explore this potential through its drilling work next year at the project, which is located in Mongolia’s Gobi-Altai region.
“I am excited to share that massive sulphide mineralisation is confirmed at the North Oval area, a further 500 metres northwest of the previously intercepted and reported massive sulphide in drillhole OVD021, which is located at the central part of the Oval gabbroic intrusion,” he said.
“It supports that the mineralisation system at the Oval has the potential to accumulate high-grade ores in multiple parts of the system, including the magmatic source that may be at depth, and which will be the key focus of 2025 exploration.”
AZ9 shares moved up on the news, and at 10:25 AEDT, they were trading at 6.6 cents – a rise of 11.86% since the market opened.
Join the discussion: See what HotCopper users are saying about AZ9 and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
