Proactive - Interviews for investors

Asian Battery Metals hits high-grade copper-nickel at Oval discovery; share price surges

Episode Summary

Asian Battery Metals PLC (ASX: AZ9) managing director Gan-Ochir Zunduisuren sits down with Proactive’s Tylah Tully to discuss high-grade copper-nickel results the company has received from its Oval copper-nickel-PGE prospect in Mongolia’s Gobi-Altai region. Drilling in hole OVD021 yielded an intercept of 8.8 metres at 6.08% copper, 3.19% nickel, 1.63 g/t combined precious metals (E3) and 0.11% cobalt (12.57% CuEq) from 107.2 metres. Additionally, OVD021 intersected mineralisation across disseminated and net-textured sulphides, reinforcing the Oval system’s high-grade potential. This discovery is part of the company's Phase 1 drilling program, covering 2,183.85 metres at Oval. The mineralisation remains open in multiple directions, and downhole electromagnetic (DHEM) surveys will direct the upcoming drilling phase to better understand the deposit's scale and orientation. Zunduisuren underscored the importance of these results, confirming the Oval deposit's potential for substantial resource expansion. Investors responded to the significant discovery sending Asian Battery Metals’ share price surging more than 155 per cent. Future exploration, including 900-1,500 metres of drilling, will focus on defining the size and structure of the high-grade zones. Due to the drilling success, ABM has reallocated the remainder of its 2024 drilling budget to expand the Oval project. #ProactiveInvestors #AsianBatteryMetals #ASX #CopperNickelDiscovery #GobiAltai #MongoliaMining #HighGradeCopper #HighGradeNickel #OvalProspect #BatteryMetals #ExplorationUpdate #DrillingResults #MineralDiscovery #ASXMining #SulphideMineralisation #Phase2Drilling #ElectromagneticSurvey #MiningExploration #ResourceExpansion #MiningInvestments #CopperEquivalent #GeophysicalSurvey