Asian Battery Metals PLC (ASX:AZ9) has had an encouraging end to its 2024 exploration work at the Oval Copper-Nickel-PGE Project in Gobi-Altai province of Mongolia with high-grade massive sulphide mineralisation confirmed in assay results.
The initial batch of assays from the 2024 Phase 2 drilling for holes OVD022-OVD025 has returned massive sulphide of 3.6 metres of 3.85% copper, 3.82% nickel, 1.55 g/t E3 and 0.15% cobalt from 48.2 metres.
This result from hole OVD025 at North Oval was within broader high-grade mineralisation of 11.4 metres at 1.85% copper, 1.70% nickel, 0.82 g/t E3 and 0.07% cobalt from 44.6 metres at North Oval.
Fresh discovery
The fresh discovery of massive sulphide at North Oval highlights the potential for multiple massive sulphide zones in the Oval gabbroic intrusion system at widespread locations.
Additionally broad and consistent mineralisation was returned in holes OVD022, OVD023 and OVD024 in the central part of the Oval gabbroic intrusion.
Right environment
Managing director Gan-Ochir Zunduisuren said: “The high-grade intercept at North Oval is very encouraging for our future exploration in the Oval copper-nickel mineral system.
"It confirms that the Oval gabbroic intrusive system has the right environment to accumulate a high tenor copper and nickel sulphide in different parts of the intrusion.”
Plan view of drill hole locations on high-resolution magnetics map (RTP).
Phase 2 program
Eight drill holes have been completed for 1,052.9 metres of diamond drilling in the Phase 2 program at Oval Project and the company expects to receive assays from the remaining four holes, OVD026-OVD29, in two to three weeks.
The multiple intercepts of massive sulphide mineralisation distributed widely through the Oval gabbroic intrusion is highly encouraging for the presence of one or more feeders that may be the source of the shallower high-grade mineralisation.
Next (LON:NXT) steps
Drilling will recommence early in the new year with multiple targets identified using downhole electromagnetics (DHEM). The 2025 program will also include deeper drilling to test potential sources for the high-grade massive sulphide encountered to date.
"We are looking forward to further assays of 2024 Phase 2 drilling and future geophysical targeting results that may provide further confidence in the current geological model,” Zunduisuren said.
A review is ongoing of re-inversion of gravity, high-resolution ground magnetics, DHEM plates and newly acquired geological information.
The aim of this work is to provide additional targets around the Oval gabbroic intrusion and regional prospects.