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Highlights
- Phase 3 drilling underway at high-grade Oval discovery in Mongolia
- Strong cash position of A$5.94 million to fund 2025 exploration
- ESG milestones and licence renewals secured through 2028
Asian Battery Metals (ASX:ABM) has kicked off an ambitious Phase 3 drilling campaign at its flagship Yambat Project in Mongolia, following a successful A$3.969 million capital raise that was oversubscribed. The company's March 2025 quarter update revealed a strong operational and financial position, with A$5.94 million in cash supporting an expanded exploration program across its key tenements.
At the heart of the update is the ongoing exploration at the Oval copper-nickel-platinum group elements (Cu-Ni-PGE) discovery. This phase targets high-conductivity electromagnetic plates and gravity anomalies, with drilling designed to test both lateral and depth extensions of the high-grade sulphide system identified in 2024.
Recent assay results confirm mineralisation continuity. Standout results include hole OVD027, returning 6.1 metres at 4.16% copper, 3.51% nickel, and 0.93 g/t of combined platinum, palladium, and gold (E3 metals), alongside cobalt credits. Hole OVD026 also reported 1.8 metres at 3.21% copper and 3.32% nickel within a broader 20-metre mineralised zone.
The campaign includes a minimum of 1,500 metres of diamond drilling, with core logging and sampling in progress. In parallel, metallurgical testing is being conducted in Perth to determine recoveries and processing characteristics across different sulphide styles, with results expected mid-year.
Beyond Oval, scout drilling is ongoing at targets such as Copper Ridge Cu-Au, MS1, and MS2. An induced polarisation survey at CR Far East suggests broader district potential. This progress adds to the growing investor interest in resource-focused ASX dividend stocks.
Asian Battery Metals has also reinforced its commitment to ESG initiatives. All required environmental and exploration approvals have been secured through 2028 for its Mongolian operations. In the Gobi-Altai and Dundgobi provinces, Environmental Management Plans were approved, and critical water and waste agreements were signed with local authorities.
The company also engaged in seasonal aid, providing hay and fodder to herder communities affected by severe weather. These ESG efforts strengthen its local partnerships and operational stability.
Meanwhile, at the national level, Mongolia's broader resource sector continues to attract attention. In January, an investment agreement was signed to develop the Zuuvch-Ovoo uranium mine, aligning with Mongolia’s “New Recovery Policy” and “Vision 2050” goals.
Asian Battery Metals presented its strategic progress at global forums, including the PDAC 2025 in Toronto and Mongolia's Mineral Exploration Roundup. For investors monitoring ASX200 resource stocks, ABM’s developments signal momentum in the sector.
With A$699,000 directed toward exploration and A$592,000 in corporate costs during the quarter, the company remains focused on advancing its projects and capitalising on strong market interest in energy and critical metals.
