Askari Metals Ltd (ASX:AS2, FRA:7ZG) used the March quarter to advance exploration planning at its flagship Nejo Gold and Copper Project in Ethiopia, completing a comprehensive compilation and digitisation of historical data to support upcoming drilling.
The work enabled the company to finalise the design of a maiden diamond drilling program targeting the Guji, Komto 1 and Komto 2 prospects, which collectively span more than 9 kilometres of strike.
Data review and field validation activities undertaken late in 2025 have reinforced the company’s geological model, confirming prospectivity across the Guji–Gudeya Trend (>9km strike) and the Guliso Trend (>10km strike), along with a high-grade copper target at Katta in the north of the project area.
Tier-1 geological setting supports large-scale potential
The Nejo project covers 1,174 square kilometres in central-western Ethiopia and sits within the Tulu Dimtu Shear Belt in the Arabian-Nubian Shield, a globally recognised gold-copper province.
The tenure surrounds the 1.7Moz Tulu Kapi Gold Mine and lies along strike from the 3.4Moz Kurmuk deposit, positioning Askari within a proven mineralised corridor.
Historical exploration, including drilling, trenching and geochemical surveys, has already identified high-grade gold and copper mineralisation across more than 60 kilometres of prospective strike, although much of the ground remains underexplored using modern techniques.
The planned drilling campaign, expected to form part of a broader program exceeding 20,000 metres, is aimed at validating historical results and progressing priority targets toward a maiden JORC (2012) Mineral Resource Estimate.
Uis project delivers additional exploration upside
In Namibia, Askari continued to assess trenching results from its Uis Project, where previous programs have focused on the PS, OP and K9 targets.
Results from earlier PS trenching were released during the January quarter, with additional outcomes from the OP program reported subsequently. Further results from the PS and K9 campaigns are expected in the June quarter.
The Uis Project spans 380 square kilometres and is located directly along strike from Andrada Mining’s producing Uis Tin Mine. The project benefits from established infrastructure, including road access and proximity to the deepwater port at Walvis Bay, around 230 kilometres away.
Exploration at Uis provides exposure to tin and tantalum mineralisation, with additional upside potential in lithium, caesium and rubidium.
Strong pipeline, clean balance sheet and near-term catalysts
During the quarter, Askari also strengthened its corporate position, maintaining a debt-free balance sheet following the repayment of outstanding convertible and redeemable notes earlier in 2026.
The company continued to build investor engagement through participation in the Cape Town 121 Investment Conference and Mining Indaba 2026, expanding its international profile.
Site visits by executive director Gino D’Anna to both Nejo and Uis, alongside senior geologists, confirmed the scale potential and prospectivity of both assets.
With drilling preparations underway in Ethiopia and ongoing results expected from Namibia, Askari is positioned to deliver steady exploration news flow in the coming quarters as it advances its African gold, copper and critical metals portfolio.