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Highlights
Askari Metals acquires Nejo Gold Project located within Ethiopia’s Arabian-Nubian Shield
Historical drilling revealed visible gold at DNA target among ten key exploration zones
Company to begin trenching and drilling after digitising past exploration data
Askari Metals Ltd (ASX:AS2), listed on the All Ordinaries, has moved to enhance its African asset base by acquiring the Nejo Gold Project in central-western Ethiopia. This addition extends the company’s exploration reach into a geologically rich region known for hosting significant gold and copper deposits.
The newly acquired project lies within the Arabian-Nubian Shield and encompasses a broad landholding marked by historical exploration. The Nejo acquisition is seen as a step aligned with the company’s strategy to tap underexplored mineral belts with prospective mineralisation.
Strategic Positioning in Prolific Gold Terrain
The Nejo Gold Project is strategically situated near two well-known gold deposits — the Tulu Kapi and Kurmuk mines. Both are established assets within the Tulu-Diemt’u Shear Belt, a known corridor of mineralisation in Ethiopia. The belt is recognised for its geological similarities to other high-yield zones across Africa’s northeast.
The project surrounds the Tulu Kapi mine and adds to Askari's interest in district-scale exploration plays. Its location along a prolific shear zone offers scope for widespread mineralisation studies, which could inform broader exploration and resource development programs.
Priority Targets Identified from Historical Work
Askari Metals has confirmed that ten priority targets have already been identified across the Nejo project area based on historical exploration campaigns. The most notable is the DNA target, where prior drilling recorded significant visible gold in core samples.
These outcomes provide a basis for ongoing evaluation as the company progresses its plan to digitise and analyse previously collected data. The integration of past findings with updated geological models is intended to guide future trenching, sampling, and systematic drilling campaigns.
Operational Build-Up in Ethiopia Begins
Askari has already established an on-ground presence in Ethiopia. With local personnel in place, including a general manager and exploration geologist, the company is preparing to align its exploration with local compliance and community engagement protocols. The team will also include dedicated roles in community and government relations, essential for facilitating smooth project operations.
The company’s executive leadership has indicated plans for a mid-August site visit to oversee early field activities and build momentum ahead of its field campaign. The Ethiopian government’s openness to mining sector development is seen as an enabling factor for resource companies entering the region.
Exploration Plans Underway for Maiden Resource
Askari’s immediate focus includes digitisation of all legacy exploration data and launching initial field verification through trenching and drilling. These activities will help establish a foundation for a maiden Mineral Resource Estimate at Nejo.
