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Asian Battery Metals confirms high-grade results at North Oval in Mongolia
Asian Battery Metals PLC (ASX:AZ9) has recently wrapped up its 2024 exploration efforts at the Oval Copper-Nickel-PGE Project, located in Mongolia’s Gobi-Altai province. The company has reported promising assay results revealing high-grade massive sulphide mineralization, shedding light on the project’s growing potential.
### Significant Assay Results
The initial assay data from the Phase 2 drilling campaign for holes OVD022 to OVD025 demonstrated notable mineralization, particularly in hole OVD025. This hole yielded 3.6 meters of massive sulphide that contained 3.85% copper, 3.82% nickel, 1.55 g/t E3, and 0.15% cobalt at a depth of 48.2 meters. Moreover, it was part of a larger section of high-grade mineralization extending 11.4 meters and consisting of 1.85% copper and 1.70% nickel from a depth of 44.6 meters.
### Promising Discoveries
The successful identification of massive sulphide at North Oval signals the potential for additional substantial sulphide zones throughout the Oval gabbroic intrusion system. Furthermore, favorable mineralization was also detected in holes OVD022, OVD023, and OVD024, indicating a robust mineral system in the central area of the Oval gabbroic intrusion.
### Confidence in Exploration
Gan-Ochir Zunduisuren, the managing director, expressed optimism regarding these findings. “The high-grade intercept at North Oval is very encouraging for our future exploration in the Oval copper-nickel mineral system. This confirms that the Oval gabbroic intrusive system possesses the right conditions for high tenor copper and nickel sulphide accumulation in various parts of the structure,” he noted.
### Ongoing Phase 2 Program
The current Phase 2 drilling program has seen eight holes completed, totaling 1,052.9 meters of diamond drilling. Asian Battery Metals anticipates receiving assay results from the remaining four holes (OVD026-OVD029) in the next two to three weeks.
The widespread distribution of massive sulphide intercepts indicates the likelihood of one or more feeder zones functioning as the source of the rich high-grade mineralization observed thus far.
### Future Outlook and Strategy
As the new year approaches, drilling is slated to resume, targeting multiple identified sites through downhole electromagnetics (DHEM). The 2025 exploration agenda will not only focus on these identified targets but will also include deeper drilling to probe potential sources of the high-grade massive sulphide identified to date.
“We are eagerly awaiting further assays from the 2024 Phase 2 drilling, along with future geophysical targeting results that may bolster confidence in our geological model,” Zunduisuren stated.
Moreover, a comprehensive review involving gravity re-inversion, high-resolution ground magnetic surveys, DHEM analysis, and newly acquired geological information is currently underway. This initiative aims to generate additional targets surrounding the Oval gabbroic intrusion as well as in regional prospects.
In summary, Asian Battery Metals PLC is positioned well with its Oval Project, showing substantive mineral discoveries that could enhance its operational viability and project potential in the increasingly competitive field of copper-nickel mining. Investors and stakeholders may find this unfolding narrative critical as the company continues to navigate the evolving landscape of mineral exploration in Mongolia.
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