Askari Metals (ASX: AS2) Boosts Gold Resources by 28% at Burracoppin Project, Sparking Strong Investor Interest

2 min read | February 11, 2025 01:37 PM AEDT | By Team Kalkine Media

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Askari Metals (ASX: AS2) Boosts Gold Resources by 28% at Burracoppin Project, Sparking Strong Investor Interest — Image source: shutterstock

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Highlights

28% increase in mineral resource estimate at Burracoppin project.

82,700 ounces of gold at a 0.55g/t cut-off grade.

Renewed growth opportunities fueled by rising gold prices.

Askari Metals (ASX:AS2) has announced a significant 28% increase in the mineral resource estimate (MRE) at its wholly owned Burracoppin gold project located in the wheat belt region of Western Australia. This updated resource reflects a total of 2.14 million tonnes, with an average grade of 1.2 grams per tonne of gold (capped) using a 0.55g/t cut-off, which equates to 82,700 ounces of gold.

For a more expansive estimate, an alternative cut-off grade of 0.3g/t would increase the resource to 3.6 million tonnes, with a grade of 0.87g/t, amounting to 101,000 ounces of gold. This potential upside highlights the flexibility and scalability of the resource at Burracoppin, providing significant room for growth.

The updated MRE incorporates the results of 155 reverse circulation (RC) drill holes, totalling 11,496 meters of drilling. This includes 69 new holes drilled by Askari Metals for 6,354 meters, in addition to 86 historical holes that add a further 5,142 meters. The drilling program has focused on mineralized zones across multiple prospects, including Benbur-Christmas Gift, Easter Gift, and Lone Tree, providing a clearer picture of the resource's expansion potential.

According to Askari Metals’ director, Gino D'Anna, the upgraded resource brings renewed opportunities for the company to further develop and grow the Burracoppin project. As the company approaches its aspirational target of 100,000 ounces, it sees significant upside in upcoming drilling programs aimed at testing several high-priority exploration targets.

The recent strength in gold prices has also piqued investor interest in the Burracoppin project, presenting additional momentum for its ongoing development. Furthermore, Askari Metals continues to engage in discussions with interested parties regarding potential value-adding transactions, further underlining the project's growing potential.

The Burracoppin project spans exploration licence E70/5049 over 17.6 square kilometres, along with adjoining licences E70/5997, E70/5998, and E70/6127. Historical mining activities at various locations, including Christmas Gift, Benbur North, and Easter Gift, have seen ore production from narrow, steeply dipping veins and fault zones within gabbro and granite, confirming the area's past mineralization and its promising future.

With these developments, Askari Metals is well-positioned to continue unlocking value at Burracoppin and capitalize on the renewed interest in gold exploration in Western Australia.

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