Asian Battery Metals PLC (ASX:AZ9) has reported strong assay results from Phase 3 drilling at its Oval Cu-Ni-PGE discovery, part of the Yambat Project in Mongolia, further validating the project’s high-grade potential.
The latest results, which include multiple massive sulphide intercepts, reinforce the company’s growing confidence in the continuity of mineralisation and the scale potential of the discovery.
Phase-3 drilling program. Drillhole locations on Reduced to Pole (RTP) Magnetic map
Key drill results confirm strong mineralisation
Among the standout results, drillhole OVD034 intersected a high-grade massive sulphide zone of 1.3 meters at 4.70% copper (Cu), 3.65% nickel (Ni), 1.19 grams per tonne (g/t) platinum group elements (E3), and 0.12% cobalt (Co) from 79.6 metres, within a broader mineralised zone of 34 metres at 0.51% Cu, 0.47% Ni, and 0.14 g/t E3 from 59.3 meters. The result corroborates earlier high-grade intersections, strengthening the geological model for the project.
Drillhole OVD033, which targeted the southeastern extension of the high-grade mineralisation, also confirmed a substantial mineralised zone. The hole returned 88.5 metres at 0.62% Cu, 0.45% Ni, and 0.22 g/t E3, with higher-grade intervals including 16.1 meters at 1.39% Cu, 0.68% Ni, and 0.51 g/t E3 from 92.3 meters. These results support the ongoing expansion of the mineralisation, offering further evidence of continuity in the system.
Long section of OVD030, OVD031, OVD033 and OVD034, note previously announced holes are excluded from this section for clarity
High-tenor sulphides intersected at depth
Drillhole OVD032 intersected high-tenor sulphide mineralisation at a deeper level, with notable results such as 0.5 meters at 1.39% Cu, 1.91% Ni, and 0.62 g/t E3 from 293.7 meters. This deeper mineralisation, located below the main Oval intrusion, indicates the potential for feeder zones and presents a high-priority target for follow-up drilling.
OVD032 cross section, note previously announced holes included in faint type and referenced
“These latest assays further validate our geological model and reinforce the continuity of high-grade mineralisation at Oval,” said Gan-Ochir Zunduisuren, managing director of Asian Battery Metals.
“Since the initial discovery of massive sulphide mineralisation, a total of seven drillholes have now intersected massive sulphides, giving us growing confidence we are onto a strong, high-grade mineral system with scale potential,” he added.
Next steps and future drilling plans
In addition to the encouraging assay results, Asian Battery Metals has planned a ground-based electromagnetic (EM) survey to commence in June. The survey will help guide follow-up drilling efforts and test for deeper feeder zones that may host additional mineralisation. Assay results from recent holes, including OVD036 and OVD040, are expected by late June.
The company remains fully funded for its 2025 exploration program, with institutional and strategic investors showing strong support. The Phase 3 drilling program is a key part of Asian Battery Metals’ broader strategy to advance its 100%-owned Yambat Project, the first of its kind in southwestern Mongolia.
in addition to the Yambat Project, Asian Battery Metals’ portfolio of projects in Mongolia includes the Khukh Tag Graphite and Tsagaan Ders Lithium projects. The company is committed to exploring and developing high-value critical mineral resources to support the global transition to a low-carbon economy.