Drilling Recommencement Hinges on Validation of High-Priority EM Targets at Oval

• 29 conductive plates identified across four target zones
• Six Priority-1 plates with strong geophysical and geological alignment
• SAMSON EM program reaches 50% completion, focusing next on deeper targets
• Drilling and downhole EM surveys to recommence within two weeks
• Metallurgical test results from Oval expected in August

Survey Success Boosts Confidence

Asian Battery Metals PLC (ASX, AZ9) has announced promising results from its ongoing SAMSON fixed-loop electromagnetic (FLEM) survey at the Oval copper-nickel (Cu-Ni) discovery in southern Mongolia. The survey, now halfway complete, has identified 29 conductive plates across four key target zones, with six classified as Priority-1 due to their strong geophysical responses and favourable geological settings.

These conductive plates align closely with known structural features, magnetic highs, and previous geological data, significantly enhancing the company's confidence in targeting mineralisation zones ahead of the next drilling phase. The findings suggest potential extensions of massive sulphide mineralisation or highly mineralised gabbroic bodies previously intercepted.

Strategic Focus on Deeper and Step-Out Targets

The SAMSON EM program, which employs both fixed and moving loop electromagnetic techniques, is expanding its scope to include deeper zones and step-out targets such as MS1, MS2, and Quartz Hill. This approach aims to penetrate below the shallow conductors already identified and explore structurally similar areas that may host additional mineralisation.

Managing Director Gan-Ochir Zunduisuren highlighted the significance of the survey results, stating that the multiple shallow, coherent conductors discovered represent some of the company's most compelling targets to date. The upcoming drilling campaign, scheduled to recommence in August, will test these targets with downhole electromagnetic surveys (DHEM) complementing the surface data.

Technical Details and Next Steps

The FLEM survey utilized transmitter loops of varying sizes (400m x 400m and 1000m x 600m) to cover approximately 3.34 square kilometres, with data acquisition involving nearly 2,000 stations. The survey's high-resolution data has been validated by third-party geophysical consultants, ensuring reliability in the interpretation of conductive plates.

While some anomalies require further verification due to potential super-paramagnetism effects, the company plans additional EM surveys with different configurations through mid-August. Concurrently, metallurgical testing of samples from the Oval prospect is underway, with initial results expected shortly after drilling resumes.

Broader Implications for Asian Battery Metals

This latest update underscores Asian Battery Metals' commitment to advancing its portfolio of battery metals projects in Mongolia, including the Yambat (Oval Cu-Ni-PGE), Copper Ridge Cu-Au, Khukh Tag Graphite, and Tsagaan Ders Lithium projects. The integration of geophysical data with geological models is a critical step toward delineating economically viable mineral resources essential for the energy transition in Asia.

Investors and industry watchers will be keenly observing the results of the upcoming drilling and metallurgical tests, which will provide clearer insights into the scale and quality of the mineralisation at Oval.

Bottom Line?

With drilling set to resume imminently, Asian Battery Metals is poised to unlock deeper copper-nickel resources that could reshape its Mongolian portfolio.

Questions in the middle?

• Will the upcoming drilling confirm the extent and grade of the Priority-1 conductive plates?
• How might metallurgical test results influence the project's development timeline and economics?
• Could further EM surveys reveal additional targets beyond the current four zones?