Askari Metals Ltd (ASX:AS2, FRA:7ZG) earlier this week reported that early trenching at the company’s 100%-owned Uis Project in Namibia confirmed “strong, continuous polymetallic mineralisation” across the DP Pegmatite Target, supporting plans for a reverse circulation (RC) drilling program in the June quarter.
Executive director Gino D’Anna said trenching results demonstrated consistent mineralisation along the full strike extent of the pegmatite, with appreciable grades recorded at surface. He stated that discussions with preferred drilling contractors are underway to finalise mobilisation timelines. He added that additional Phase 1 trenching results from other targets within the Uis Project remain pending, providing further potential news flow in the near term.
Beyond Namibia, Askari Metals Ltd is preparing to initiate a 5,000-metre diamond drilling campaign at the company’s gold and copper project in Ethiopia.
Key Highlights
- Early trenching at the Uis Project confirmed strong, continuous polymetallic mineralisation at the DP Pegmatite Target
- Mineralisation consistent across strike with appreciable surface grades
- RC drilling planned for the June quarter
- Additional trenching results pending from other Namibia targets
- 5,000m diamond drilling program planned in Ethiopia
- Focus on high-priority gold targets in southern licence
- Ethiopia described as underexplored but stable and open for business
- Company strategy centred on high strategic value, low geological risk and acceptable geopolitical risk
Askari moves forward in Namibia and Ethiopia
Proactive: Welcome back to Proactive Investors. I’m your host, Kerry Stevenson. Today I’m speaking with executive director Gino D’Anna from Askari Metals. The company has projects in South Africa, Namibia and Ethiopia covering tin, lithium, tantalum, rubidium and cesium. There is news out regarding trenching. Tell us what you’re doing in Namibia.
Gino D’Anna: I’m currently in Namibia after attending mining conferences in South Africa. At the Uis Project, we recently released results from the DP Pegmatite Target. The trenching has shown consistent mineralisation across the entire strike, with appreciable grades at surface. As the trenching was conducted in oxidised rock, the company expects potential grade uplift when drilling into fresh rock. The company is meeting preferred drilling contractors to mobilise a rig and plans to commence drilling shortly. Additional Phase 1 trenching results from other targets are also pending.
Proactive: What are the next steps and what can investors look forward to?
D’Anna: The focus is on progressing drilling at Uis and delivering further trenching results. It is an active period for the company in Namibia.
Proactive: Let’s discuss Ethiopia. What is the jurisdiction like and what work has been done historically?
D’Anna: Historically, there has been drilling, trenching and mapping, but no systematic exploration. The company plans a 5,000-metre diamond drilling program targeting high-priority gold prospects in the southern licence. The aim is to bring previous exploration up to modern reporting standards. From a geopolitical perspective, Ethiopia has opened up over the past two to three years. It is underexplored but stable and open for business.
Proactive: Which project is your preferred asset?
D’Anna: The company focuses on assets with high strategic value, low geological risk and acceptable geopolitical risk. Both Namibia and Ethiopia meet those criteria, with proximity to operating or permitted mines adding strategic value.