Asian Battery Metals PLC (ASX:AZ9) is encouraged by interim results from an ongoing 2024 regional reconnaissance and exploration program at the Yambat Copper-Nickel Project in Mongolia, identifying four more exploration targets.
While exploration continues at the primary Oval Prospect, the company's regional program was designed to systematically evaluate the potential for copper-nickel mineralisation in an area outside Oval using a suite of exploration techniques, as well as an initial investigation of newly discovered mineralisation at Copper Ridge.
Geophysical studies and subsequent groundproofing have confirmed indications of a broader magmatic copper-nickel system beyond the Oval Prospect.
This includes a new outcrop of mineralised gabbro containing sulphide blebs identified at the South Zone, 1.7 kilometres southeast of the Oval mineralised gabbro.
An expansion of the previously reported nickel-copper mineralised gabbro outcrop at the North Oval area was also observed. This expansion indicates a significant NW extension of the main nickel-copper mineralisation.
New mineralisation style
Additionally, copper-gold mineralisation has been discovered in the northern part of the tenement following detailed mapping of an area 7 kilometres north of the Oval.
The newly named Copper Ridge has a different style of mineralisation characterised by a 30-metre-wide by 400-metre-long zone of silicified, magnetite-altered andesite with significant disseminated chalcopyrite mineralisation that has been delineated before dipping under alluvial cover to the east.
Assay results from rock chip sampling yielded maximum values of 0.29 ppm gold, 0.4% copper, and greater than 15% iron.
A “major advancement”
“The 2024 regional reconnaissance program has resulted in a major advancement of the geological knowledge in what we consider to be one of the emerging copper and nickel exploration districts in Mongolia,” said Asian Battery Metals managing director Gan-Ochir Zunduisuren.
“The program is comprised of mapping, surface geophysical study and soil and rock sampling programs across our tenement. Interim results indicate a larger exploration area fertile for magmatic copper and nickel sulphide system beyond the Oval prospect.
"In addition, the ABM team has made a new exciting discovery at the Copper Ridge target during the early phase of the program.
“Currently, the company is continuing its regional exploration program and a scout drilling program in parallel with the Oval Prospect drilling program.”
Detailed geophysical studies and scout drilling are now planned for these new regional targets in this field season.
The 2024 program
The ongoing 2024 reconnaissance and exploration program consists of outcrop mapping, a geophysical survey program and field reconnaissance:
Outcrop mapping: A detailed geological mapping program will be undertaken to delineate exposed rock formations, identify associated structural controls and mineralisation indicators, and possibly extend the known mineralised zone/gabbro/ at the surface level.
Completion of the geophysical survey program: employing Pole-Dipole Induced Polarisation (PDIP), Controlled Source Audio Frequency Magnetotelluric (CSAMT) and Audio-Frequency Magnetotelluric methods at the Oval and MS1 prospects within the Yambat project.
Field Reconnaissance: Verify geophysical anomalies on site and collect geochemical samples from areas exhibiting interesting alteration or mineralisation.
Read more on Proactive Investors AU
