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Asian Battery Metals confirms high-grade results at North Oval in Mongolia By Proactive Investors
Asian Battery Metals PLC (ASX:AZ9) has concluded its 2024 exploration initiatives at the Oval Copper-Nickel-PGE Project, situated in the Gobi-Altai province of Mongolia, with promising findings of high-grade massive sulphide mineralisation confirmed through recent assays.
Significant Assay Results
The preliminary assays from the second phase of drilling—specifically from holes OVD022 through OVD025—have unveiled a notable intercept of massive sulphide, revealing 3.6 meters with grades of 3.85% copper, 3.82% nickel, 1.55 g/t E3, and 0.15% cobalt, beginning at a depth of 48.2 meters. This impressive result was found in hole OVD025 at the North Oval area and is part of a broader zone of high-grade mineralisation, which showcases 11.4 meters at 1.85% copper, 1.70% nickel, 0.82 g/t E3, and 0.07% cobalt starting at 44.6 meters.
Potential for Further Discoveries
The new high-grade massive sulphide discovery at North Oval indicates the potential existence of multiple massive sulphide zones within the expansive Oval gabbroic intrusion. Assays from additional holes OVD022, OVD023, and OVD024 also demonstrated broad and consistent mineralisation across the central section of the intrusion.
Encouraging Insights from Management
Gan-Ochir Zunduisuren, the managing director, expressed optimism regarding the high-grade intercept at North Oval, noting its significance for the company’s future exploration endeavors in the Oval copper-nickel mineral system. He stated, “The data confirms that the Oval gabbroic intrusive system possesses the ideal conditions for high-grade copper and nickel sulphide concentrations in various sections of the intrusion."
Phase 2 Drilling Progress
To date, eight exploratory drill holes have been completed, amounting to a total of 1,052.9 meters of diamond drilling in this second phase. The company anticipates receiving results from four additional holes, OVD026 to OVD029, within the next two to three weeks. The widespread intercepts of massive sulphide mineralisation lend strong credibility to the hypothesis of the presence of one or more feeders, potentially serving as the source of the shallow high-grade mineralisation encountered thus far.
Upcoming Exploration Plans
The drilling activities are scheduled to resume early in the upcoming year, with several targets identified through the use of downhole electromagnetics (DHEM). The 2025 exploration program will delve deeper into the mineral system to test potential sources for the high-grade massive sulphide discovered to this point.
Zunduisuren also highlighted the anticipation for upcoming assay results from the 2024 Phase 2 drilling and the implications of geophysical targeting that could reinforce the current geological model. An ongoing review process includes re-inversion of gravity data, high-resolution ground magnetics, and DHEM plates, integrating newly acquired geological information to develop additional targets around the Oval gabbroic intrusion and other regional prospects.
For further details and updates on this exploration project, visit Proactive Investors AU.
Through these promising discoveries and strategic plans, Asian Battery Metals PLC positions itself well within the competitive field of mineral exploration and development, reflecting a dedication to advancing its resources in the burgeoning area of copper and nickel production in Mongolia.
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