Askari Metals Ltd (ASX:AS2) has strengthened its foothold in Ethiopia, completing a series of high-level government and stakeholder meetings as it pushes ahead with fieldwork and preparations for a maiden drilling campaign at the 1,200-square-kilometre Nejo Gold and Copper Project.
Executive director Gino D’Anna is currently in-country, where he has met with officials across federal and regional agencies — including the Ministry of Mines and Petroleum, the Oromia Mineral Development Authority, the Oromia Mining Group and representatives of the House of Peoples’ Representatives — to present Askari’s exploration plans and secure broad support for the project.
The company reports a strong financial footing, with about $3.2 million in cash and assets held for sale to progress exploration across Ethiopia and Namibia.
Phase I drilling to target high-grade gold
Askari has finalised a preliminary design for its Phase I drilling program, which will begin with up to 5,000 metres of a proposed 20,000-metre campaign. Drilling contractors have been shortlisted, with final engagement expected shortly, while camp construction and environmental permitting is under way.
The maiden program will focus on shallow, high-grade gold targets at Guji, Komto 1 and Komto 2 — a combined ~9-kilometre strike parallel to the Tulu Kapi Trend. Historic RC and diamond drilling, trenching and sampling across these prospects returned significant near-surface mineralisation but saw limited follow-up, giving Askari an opportunity to validate historic intersections and define a maiden JORC resource.
Exploration drill holes and trench collar locations and results from the Guji, Komto 1 and Komto 2 targets within the Nejo Project, Ethiopia (Askari - 100%).
Exploration will later expand to the Katta copper target in the north of the tenure, where previous UNDP drilling identified high-grade, shallow copper zones and outcropping gossans suggestive of potential volcanogenic massive sulphide (VMS)-style mineralisation.
Regional programs expand across 19 km of gold trends
Field teams remain mobilised across the Guji–Gudeya and Guliso gold trends, which together span ~19 kilometres. Work is focusing on consolidating historic drill data, systematic mapping and sampling, and refining drill targets with new airborne and ground geophysics.
The Guliso Trend hosts multiple targets — Soyoma, Dina, Chago and South Chago — covering about 10 kilometres of strike and remaining open. Earlier drilling and trenching recorded strong gold grades near surface. Meanwhile, Guji, Komto 1 and Komto 2 on the Guji–Gudeya Trend are considered drill-ready.
Askari is also reviewing a large regional geochemical dataset covering more than 9,100 square kilometres, which confirmed 32 anomalies and 81 mineral occurrences across elements including gold, copper, nickel, antimony, chromium, rare earths and platinum group elements. Notably, the Yubdo–Ursa area returned a >5-kilometre platinum anomaly alongside extensive historic gold hits.
Strong government engagement
D’Anna said Ethiopia had “openly welcomed” Askari as it advances Nejo and explores broader strategic partnerships.
“These meetings have allowed me to introduce Askari and our vision for exploration and development success at the Nejo Project as well as discuss future areas of collaboration and strategic partnership,” he said.
He added that the advanced nature of Nejo offered a clear pathway towards a significant JORC resource, with 2026 shaping up as a major year for drilling and district-scale exploration.
Namibia activity to resume
Alongside its Ethiopian workstreams, Askari expects to recommence exploration at its Uis Project in Namibia, where it is targeting tin, tantalum, rubidium and lithium mineralisation.
“We have completed significant exploration in the past and look forward to releasing the assay results from our previous trenching campaign once received and analysed, at a time when tin prices remain at record highs and interest is quickly returning to the lithium sector,” D’Anna said.
“We are setting up for a very busy 2026, and I look forward to keeping our shareholders updated as we enter an exciting phase of growth.”