Asian Battery Metals PLC managing director Gan-Ochir Zunduisuren sat down with Proactive's Fouad Haidar earlier this week to discuss further high-grade assay results from Phase 3 drilling at the Oval Cu-Ni-PGE discovery, part of the Yambat Project in Mongolia.
Highlights
- Asian Battery Metals confirmed high-grade results from Phase 3 drilling at Oval Cu-Ni-PGE discovery.
- Mineralisation extends semi-continuously over 800 metres from North Oval to Oval Zone.
- Standout intercept: 27m at over 1.3% Cu, nearly 0.9% Ni, with PPG and gold.
- Company raised nearly $4 million in an oversubscribed placement in February 2025.
- Cash balance exceeded $5 million at end of Q1 2025 to fund 2025 exploration.
- More assay results are pending from drill holes 36 and 40.
- Metallurgical studies expected in July.
- Geophysical survey using Samsung M-by-Gap technology is underway.
High grade hits
Mineralisation at Oval extends semi-continuously over 800 metres from the North Oval Zone to the Oval Zone. It reported multiple high-grade hits, including 27 metres of more than 1.3% copper and nearly 0.9% nickel, alongside platinum group elements and gold.
Zunduisuren said these intercepts confirm a high-grade system, with more assays pending from drill holes 36 and 40. These are targeting extensions of previously intersected massive sulphides from earlier in 2024.
Well funded
The company raised close to AU$4 million in an oversubscribed placement in February. It held more than AU5 million at the end of Q1 2025, which it said would fund the remainder of its exploration strategy into 2025.
It also noted that regional exploration and a metallurgical study are ongoing. Results from metallurgical work are expected in July. Additionally, a geophysics program using Samsung M-by-Gap methods is now underway to identify future drill targets.
The company said it expects consistent news flow as further results come to hand.