AUS
NZ
UK
CA
USA
IND
Highlights
Askari Metals (ASX:AS2) secures the Nejo Gold Project in Ethiopia
Project situated within the Arabian-Nubian Shield near major gold operations
Focus now shifts to data digitisation and upcoming trenching and drilling work
Askari Metals Ltd (ASX:AS2), a participant on the ASX 200 index, has strengthened its exposure to Africa’s resource-rich terrain by acquiring the Nejo Gold Project in central-western Ethiopia. The project lies within the Arabian-Nubian Shield, a mineralised geological belt renowned for hosting large-scale gold and copper deposits.
This acquisition marks a significant step in Askari’s expansion strategy, as it continues to establish a stronger presence across underexplored regions with historical significance in gold mineralisation.
Strategic Nearology and Historical Exploration Work
The Nejo Gold Project is positioned along the Tulu-Diemt’u Shear Belt, in proximity to the established Tulu Kapi and Kurmuk gold mines. This district-scale region has attracted attention due to its mineral endowment and limited modern exploration.
Previous exploration campaigns across Nejo have involved trenching, sampling, and drilling, identifying multiple targets of interest. One notable area is the DNA target, which has shown visible gold and strong historical intercepts. Ten priority zones across the project area have been delineated based on earlier data.
Technical Planning and Project Development Approach
Askari is currently in the process of digitising historical datasets to build a consolidated geological model. This work is expected to assist in refining targets ahead of systematic trenching and drilling activities. The company plans to release regular updates as it progresses through this phase of the project lifecycle.
A key component of the company’s approach is its in-country presence. Askari has appointed a general manager, geologist, and key community and government liaisons to ensure smooth coordination with local stakeholders and compliance with jurisdictional frameworks.
On-Ground Presence and Forward Steps
Establishing a permanent operational base within Ethiopia is a priority for Askari, reflecting the company’s long-term interest in the region. Senior executives, including the executive director, are planning site visits to guide field activities and advance exploration logistics.
The company has also acknowledged Ethiopia’s mining-friendly regulatory environment as a supportive backdrop for resource development. Work is set to continue with a focus on unlocking value from Nejo’s geological potential through structured fieldwork and data-driven analysis.
