AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- Resource Upgrade: Burracoppin Gold Project’s JORC (2012) Mineral Resource Estimate (MRE) increased by 28% to 82,700 ounces of gold.
- Exploration Success: Expansion potential identified at Benbur-Christmas Gift, Easter Gift, and Lone Tree prospects.
- Market Reaction: Shares of Askari Metals soared nearly 52% to 1.6 cents following the announcement.
Askari Metals Limited (ASX:AS2) has announced a significant upgrade to the Mineral Resource Estimate (MRE) for its 100%-owned Burracoppin Gold Project in Western Australia. The update has delivered a 28% increase in reported resources, reinforcing the project's potential for further expansion.
The Burracoppin project, located 15km west of Ramelius Resources’ Edna May Gold Mine, now boasts an updated JORC (2012) MRE of 2.14 million tonnes (Mt) at 1.2 grams per tonne (g/t) gold, containing 82,700 ounces of gold using a 0.55 g/t cut-off grade.
Using a lower cut-off grade of 0.3 g/t, the MRE expands further to 3.6Mt at 0.87 g/t gold, containing 101,000 ounces.
The resource update covers key prospects, including Benbur-Christmas Gift, Easter Gift, and Lone Tree. Notably, high-grade drill intercepts have been recorded, with highlights such as:
- Easter Gift: 3m @ 17.41 g/t Au from 73m (ABRC069)
- Benbur: 6m @ 2.37 g/t Au from 31m (ABRC041)
- Christmas Gift: 10m @ 1.38 g/t Au from 34m (ABRC039)
Future Exploration and Market Response
Askari Metals is optimistic about further expanding the resource base, particularly between the Benbur-Christmas Gift and Easter Gift prospects. The company has received strong interest from potential investors and industry players amid a record-high Australian gold price.
Following the announcement, Askari’s shares jumped nearly 52% to 1.6 cents per share on 11 February 2025.
