Askari Metals Ltd (ASX:AS2) earlier this week provided an update on its copper and gold exploration activities at the Nejo project in Ethiopia.
The company said the campaign is its first reconnaissance-style program at Nejo. It will focus on validating historical RC drill collars and targeting high-priority prospects in the south, including Guji 1 and Komto 2.
Askari Metals told investors that the campaign also includes work in the northwest at the Katta prospect. It highlighted that historical drilling there intersected 140.8 metres at 3.2% copper, ending in mineralisation. The company noted that these results have not been followed up since the 1970s. It said the area could potentially host a large VMS-style system.
The company confirmed that preparations are underway for a planned drilling program in Q4 2025. It is currently securing a rig, crew, and consumables.
Askari said the current work is designed to lay the groundwork for future drilling. It stated that the Guji 1 and Komto 2 corridor is a 9-kilometre mineralised strike that remains open in both directions.
Executive Director Gino D'Anna said the company could reach a maiden resource within 12 months. He explained that work to clean and analyse the historical exploration database has allowed the company to refine its targeting.
Askari added that the Nejo licence covers 1,200 square kilometres, with multiple additional targets that may be assessed over time. It said the current phase is the beginning of a longer-term program that will expand as the company grows its human and capital resources.
D'Anna said the exploration program would likely generate continuous updates over the next two to three years.
Proactive:
Askari Metals has kicked off a copper and gold exploration program at the Nejo project in Ethiopia. For more on this, I’m joined by the company’s Executive Director, Gino D'Anna. It’s been a while — how are you?
Gino D'Anna:
Doing well, thank you so much.
Proactive:
Good to see you again and have you back here at Proactive. Now, the team is targeting gold in the south at Nejo and copper in the northwest, and this is part of a dual-track program. How important is this exploration?
Gino D'Anna:
This exploration campaign is a very important program for the company, given that it's our first reconnaissance-type exploration program. It's going to be important to validate and verify those historical RC drill collars, particularly on what we call the Guji-Gudeya trend in the southwest of the licence, which hosts high-priority drill targets — Guji 1 and Komto 2.
That’s vital for the company to mobilise a rig onto those three prospects as part of the next phase of exploration. We're also going to be exploring the Anolekola trend, again in the southwest licence. There’s a lot of historical drilling and trenching in that area, but nothing was ever followed up cohesively or systematically — so that’s the opportunity for Askari.
This is about opening things up, getting the company’s intellect and knowhow into the project, and verifying what we’ve read in historical reports with actual field testing.
Now, in the northwest at Katta, we’re talking about high-grade copper mineralisation. People might remember the drilling from the 1970s — 140.8 metres at 3.2% copper, ending in mineralisation. Those holes have never been followed up. So again, that’s a key catalyst — pursuing these high-grade zones. Also, looking at the geological style, the Katta area could potentially be a very large VMS system, which has never been examined historically. That’s a key focus for us.
Proactive:
This program will essentially lay the foundation for your upcoming drilling campaign, which is planned for Q4 of 2025. Are we still on track for this?
Gino D'Anna:
We are. Administratively, we’ve got the process underway to secure the drill crew and the rig. As I mentioned, drilling is going to be focused predominantly in the Guji 1 and Komto 2 area — that's a 9-kilometre strike zone, continuously mineralised and still open in both directions.
So we’re running this exploration program in tandem with the administrative process — lining up rig, consumables, operators, and so on. Then we’ll be able to lock in a start date and update investors and shareholders accordingly.
Proactive:
It’s quite an exciting program. It could fast-track the company towards a maiden resource. How soon could that take place in your opinion?
Gino D'Anna:
Given the breadth of data we’ve got, and the time we've spent refining the historical exploration database, we think we can definitely fast-track it. I’d say we could be at the resource stage within 12 months.
Then it’s a matter of applying technical and economic feasibility analysis. But more importantly, this is one piece of the puzzle. What I mean is that the program will continue to evolve and expand.
We’ve got 1,200 square kilometres. There’s no shortage of exploration targets. The plan is to focus on an area to begin with, and then expand as we increase our human and capital resources. It’s going to be a very busy period for the company — and it starts now. I can see this running for the next two or three years. We’ll have no shortage of information and activity in the field.
Proactive:
It’s good to see the Nejo project starting to ramp up. There’s a lot happening on the ground, which I think will keep investors very engaged heading towards the end of the year. Askari Metals Executive Director Gino D'Anna, thank you for the updates — and best of luck with your upcoming trip to Ethiopia.
Gino D'Anna:
Thank you. It's always a pleasure to be with you.