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Highlights:
- Asian Battery Metals (ASX:AZ9) confirmed high-grade massive sulphide mineralisation through Phase 2 drilling at the Oval nickel-copper-PGE project in Mongolia.
- Drill hole OVD027 intersected 6.1 metres of 4.16% Cu, 3.51% Ni, and 0.93g/t E3, with additional significant intercepts in nearby zones.
- The results underscore the potential for broader high-grade mineralisation, with further exploration planned for 2025 to assess the size and depth of the system.
Asian Battery Metals Plc (ASX:AZ9) has advanced its Oval nickel-copper-platinum group elements (PGE) project in Mongolia, with Phase 2 drilling confirming the presence of high-grade massive sulphide mineralisation. The company has been building on its earlier success, with Phase 1 and 2 results providing crucial data on the project's mineral potential.
The Oval project first gained attention in October 2024 when the company reported a copper-nickel discovery, highlighted by drill hole OVD021, which intersected high-grade massive sulphides. Recent results from Phase 2 drilling, particularly from drill hole OVD027, further confirm the continuity of this mineralisation. OVD027 revealed an intercept of 6.1 metres grading 4.16% copper, 3.51% nickel, 0.93g/t E3, and 0.13% cobalt from a depth of 98.2 metres. This was complemented by broader mineralised zones, including a dense disseminated intercept of 26.2 metres at 0.44% copper, 0.52% nickel, 0.12g/t E3, and 0.03% cobalt from 72 metres, as well as a net-textured intercept of 15.3 metres at 1.15% copper, 0.79% nickel, 0.35g/t E3, and 0.04% cobalt from 104.3 metres.
In another notable development, drill hole OVD026 confirmed a high-grade intersection in the central area of the Oval deposit. This hole encountered 1.8 metres of 3.21% copper, 3.32% nickel, 0.69g/t E3, and 0.14% cobalt from a depth of 105 metres. It was part of a broader mineralised zone measuring 19.8 metres at 1.23% copper, 0.98% nickel, 0.36g/t E3, and 0.05% cobalt from 91.2 metres. This intersection is located 100 metres northwest of the earlier discovery in OVD021, providing further evidence of the continuity and scale of the mineralisation at Oval.
The company views these results as a strong indication of the project's potential. Managing Director Gan-Ochir Zunduisuren emphasized the significance of these findings, noting that the grades intercepted in multiple drill holes are exceptional. He highlighted the greenfield nature of the Oval discovery, underscoring its potential for a larger mineral system.
The exploration strategy for 2025 will focus on expanding the understanding of the Oval deposit's size and metal content. The company plans to explore potential deeper magmatic sources that could further enhance the project's economic viability. The continuation of high-grade discoveries and the systematic approach to exploration signal the company's commitment to unlocking the full potential of the Oval project.
The broader implications of these findings suggest that Oval could become a significant contributor to the nickel-copper-PGE sector. With growing demand for battery metals, particularly nickel and copper, projects like Oval play a crucial role in addressing the global supply chain for clean energy and electric vehicles.
Asian Battery Metals (ASX:AZ9) is poised to build on its successful exploration programs as it transitions into the next phase of development. These latest results not only highlight the project's resource potential but also position the company as a key player in the battery metals space. The results from the Oval project, particularly the high-grade massive sulphides, underscore the strategic importance of continued exploration in Mongolia's promising mineral provinces.
