Asian Battery Metals has completed its acquisition of the Maikhan Uul Copper-Gold Project in Mongolia and is set to begin a 1,500-metre drilling campaign targeting gold mineralisation and feeder zones. The move complements its nearby Yambat project and signals an aggressive exploration push in 2026.
- Acquisition of Maikhan Uul project finalised, expanding Mongolian portfolio
- 1,500m RC and diamond drilling to start imminently targeting gold zones
- Geophysical surveys and metallurgical testing planned for H1 2026
- Project located 8km from Yambat Cu-Ni-PGE project for potential synergy
- Commitment to responsible exploration with community engagement
Acquisition Completion Unlocks New Exploration Phase
Asian Battery Metals PLC (ASX:AZ9) has marked a key milestone by completing the acquisition of the Maikhan Uul (Red Hill) Copper-Gold Project in Mongolia. This addition strengthens the company’s foothold in a mineral-rich belt critical for the energy transition, with copper and gold increasingly vital for clean technologies. The project sits just 8 kilometres from its existing Yambat (Oval Cu-Ni-PGE) asset, offering potential for combined development and operational synergies.
Managing Director Gan-Ochir Zunduisuren highlighted the strategic importance of the acquisition, noting it complements the company’s existing asset base and sets the stage for a busy exploration calendar in 2026.
Drilling and Exploration Activities to Accelerate
The company is mobilising rigs and logistics to commence a 1,500-metre drilling program within days. This will include reverse circulation (RC) drilling focused on gold mineralisation zones identified in previous work, alongside diamond drilling aimed at testing untested downhole electromagnetic (DHEM) plates and interpreted feeder zones. These targets stem from earlier announcements confirming significant mineralisation, including thick massive sulphide intercepts with promising copper and gold grades.
Beyond drilling, Asian Battery Metals plans comprehensive sampling and mapping to verify historical copper grades and assess surface mineralisation. A suite of geophysical surveys, including a 3D induced polarisation (IP) survey and downhole EM measurements, is scheduled for May to refine exploration targets further.
Metallurgical test work is slated for June at ALS Laboratories in Perth, aiming to understand ore characteristics post-drilling. These activities collectively represent a systematic approach to advancing Maikhan Uul from exploration to potential development.
Parallel Progress at Yambat Project
Exploration momentum is also building at the nearby Yambat (Oval Cu-Ni-PGE) Project, where regional geophysical surveys and a phase 4 drilling campaign are underway. The planned drilling will test updated geophysical models and scout new copper-gold prospects, including the Copper Ridge area. This dual-project strategy underscores Asian Battery Metals’ commitment to expanding its Mongolian portfolio, following recent successes that included a 60% extension of mineralisation strike length at Yambat.
Sustainability and Community Engagement
Asian Battery Metals emphasises responsible exploration, aiming to balance resource development with environmental stewardship and local community benefit. The company’s approach reflects growing investor and regulatory expectations around sustainability in mining ventures, particularly in regions like Mongolia where social license is critical.
Investors will be watching closely as drilling results and geophysical data emerge over the coming months, potentially reshaping the company’s valuation and growth trajectory.
Bottom Line?
The imminent drilling campaign at Maikhan Uul will provide the first critical data to validate the project’s potential and test its synergy with the nearby Yambat asset.
Questions in the middle?
- Will drilling confirm the interpreted feeder zones and expand known mineralisation?
- How will metallurgical results influence the project's development pathway?
- What impact will simultaneous exploration at Maikhan Uul and Yambat have on capital allocation?