Askari Metals Ltd earlier this week confirmed that it has secured validation of all three exploration licenses for the Nejo Gold and Copper Project in Ethiopia. Askari Metals CEO Gino D’Anna talked with Proactive about the company securing all official licenses.
Highlights
- Askari Metals has secured validation of all three exploration licenses for the Nejo Gold and Copper Project in Ethiopia.
- Validation followed legal due diligence and meetings with both regional and federal Ethiopian authorities.
- Final acquisition step is shareholder approval before mobilising the exploration team.
- Potential strategic collaboration with Shining Star International, which has financial and technical capacity to develop mining projects.
- Immediate start work program includes sampling, trenching, and drilling.
- Initial focus on high-grade copper at the Cattle prospect in the north.
- Southern license area also targeted for validation of historical drilling results.
- Maiden drill campaign planned for October.
Confidence to proceed
The company said the validation followed legal due diligence and meetings with the regional government and the Ethiopian Ministry of Mines. It said this milestone gives it confidence to proceed with the acquisition process.
D'Anna highlighted that the final step in the acquisition is shareholder approval. Once granted, it plans to mobilise its team to begin exploration work.
Strategic collaboration
Askari is considering a strategic collaboration with Shining Star International. D'Anna said the potential partner has both the technical expertise and financial capacity to invest in large-scale mining projects, citing its current work on a copper mine in Angola.
The company outlined plans for an immediate work program involving sampling, trenching, and drilling. It will first target the Cattle prospect in the north, where previous limited drilling intersected high-grade copper. Work will include locating historical drill holes, taking samples, mapping, and designing a drill program.
The southern license area will also be explored, with a focus on validating historical drilling results from as recently as 2013. Askari said these early-stage campaigns will support the design of its maiden drill program, which is expected to commence in October.