Asian Battery Metals has made a significant breakthrough with the discovery of a new style of copper-nickel sulphide mineralization at its Oval prospect in southwestern Mongolia. The company received positive assay results from its Phase 1 diamond drilling program, indicating a promising find in the Gobi-Altai region.
In light of this discovery, the board has decided to reallocate the remaining 2024 drilling budget from other projects to further explore the Oval prospect, aiming to deepen their understanding of the high-grade zone.
“Outstanding discovery”
Managing Director Gan-Ochir Zunduisuren expressed excitement about the discovery, stating, “After four years of systematic exploration in Mongolia, it is thrilling to be part of an outstanding copper-nickel discovery.” He noted that high-grade massive sulphide intercepts confirmed the prospect’s potential and emphasized the focus on extending the high-grade zone and understanding its characteristics.
Drilling is set to recommence within two weeks, and the company looks forward to further discoveries that will benefit its shareholders.
BHP Xplor cohort participation
Asian Battery Metals was selected as one of seven companies in January 2023 for the BHP Xplor program, aimed at accelerating copper and nickel exploration through innovative concepts and data utilization. The Phase 1 program at the Oval prospect included 19 drill holes totaling 2,897 meters, with a significant portion dedicated to the Oval discovery.
Exceptional grades confirmed
A standout moment from the drilling was the intercept of massive sulphides, which assay results confirmed to have outstanding grades of copper, nickel, and platinum group elements. Zunduisuren highlighted that these results affirm the Oval magmatic sulphide system’s capability of yielding high-grade ore.
Phase 2 drilling plans
The upcoming Phase 2 drilling program will focus on investigating the massive sulphide and will be guided by drill-hole electromagnetic (DHEM) surveys to optimize targeting. The 900m-to-1,500m drilling program aims to extend and better understand the size and orientation of the mineralized zone.
Southern Geoscience Consultants is currently modeling data based on DHEM surveys and analyzing off-hole anomalies. This ongoing work will assist in planning future drilling efforts.
