Data Limitations Pose Challenge as Askari Eyes Copper at Nejo Project

Historic Data Revisited

Askari Metals Limited (ASX – AS2) has provided a detailed update on its Nejo Gold Project in Central Western Ethiopia, highlighting the discovery of high-grade copper mineralisation from historic drilling conducted by the United Nations Development Programme (UNDP) between 1969 and 1973. The Katta Target, a key area within the project, yielded impressive copper intersections including 14.33 meters at 3.2% copper and 35.51 meters at 0.82% copper, underscoring the prospectivity of the region.

These results stem from a compilation of historical reports and data sets, which Askari has meticulously validated under Mining FAQ 36 guidelines. While the data predates the modern JORC (2012) Code, the company’s Competent Person has confirmed the reliability of the information, albeit with caution due to limitations such as imprecise drill collar locations and incomplete assay records.

Strategic Significance of Nejo

Spanning approximately 1,174 square kilometers, the Nejo Gold Project is situated on the Arabian-Nubian Shield, a globally significant mineral belt known for hosting large-scale gold and copper deposits. The project’s location near established mines such as the 1.7-million-ounce Tulu Kapi Mine and the 3.4-million-ounce Kurmuk Mine places it within a tier-1 geological setting, enhancing its appeal.

Despite the promising historic data, systematic exploration at Nejo has been limited, with many targets remaining underexplored. Askari’s acquisition and data digitisation efforts aim to unlock this potential through modern exploration techniques including high-resolution geophysical surveys, geochemical sampling, trenching, and targeted drilling campaigns.

Pathway to Resource Definition

Askari Metals is positioning Nejo as a flagship asset, emphasizing its district-scale size, high-grade mineralisation, and proximity to major operations. The company plans to fast-track the project towards a maiden JORC (2012) Mineral Resource Estimate by conducting confirmatory drilling and comprehensive field validation. This approach is designed to convert historical data into a compliant resource, reducing geological risk and enhancing investor confidence.

Executive Director Gino D’Anna highlighted the opportunity to apply modern exploration methods to a historically rich but underdeveloped project, aiming to emerge as a significant gold and copper developer in Africa.

Challenges and Next Steps

While the historic drilling results are encouraging, Askari acknowledges the need for careful validation due to the age and limitations of the data. Drill hole collars have positional uncertainties of up to 20 meters, and some assay data is incomplete. The company plans to address these issues through field reconnaissance, soil geochemical surveys, and a carefully designed drilling program to optimize target definition.

Beyond the Katta Target, six additional targets within the Nejo project area show copper and zinc anomalies, representing further exploration upside. Askari intends to prioritize these through initial mapping and sampling before advancing to drilling.

Broader Strategic Context

Askari Metals is concurrently advancing other projects, including lithium development in Namibia and uranium exploration in Tanzania, reflecting a diversified portfolio focused on critical minerals. The company is also considering divestment strategies for its Australian assets, concentrating resources on high-potential African projects like Nejo.

Overall, the Nejo Gold Project update signals a pivotal moment for Askari Metals, as it leverages historical data to chart a course for modern exploration and resource development in a highly prospective but underexplored region.