Askari kicks off drilling and sampling program as gold exploration gathers momentum

Mon 21 Mar 22, 3:55pm (AEST)
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Key Points

  • Askari kicks off a soil auger program to test prospective gold targets
  • The program will also drill untested areas with the potential to "add significant potential to the project"
  • A Phase III RC drill campaign is also expected to commence in the next two weeks

Askari Metals (ASX: AS2) has rallied into all-time highs, up 13.6% in afternoon trade after kicking off a soil auger program at the Burracoppin Gold Project.

The soil auger program is designed to test several prospective gold targets of known mineralisation, their strike extent as well as new areas identified from reviewing historical data.

Askari said that historical surface soil samples indicate potential untested zones of mineralisation.

"If this auger program validates the interpreted eastern zone, it will result in a completely new target and increase the potential of the project significantly," commented Vice President of Exploration and Geology, Johan Lambrechts.

"With long term sentiment in the gold sector reaching all-time highs, our exploration at Burracoppin is quite opportune."

Next steps

The auger soil drilling program is taking place between a second and third phase of RC drilling.

Askari is currently waiting for results from the second phase and the third phase is expected to kick off in the next two weeks.

Lithium kicker

Besides gold, Askari has exposure to lithium via the Yarrie Project in WA and Barrow Creek Project in the Northern Territory.

Lithium is an incredibly hot space right now, backed by strong electric vehicle demand, tight-supply and surging spot prices.

You can find out more about Askari's portfolio of projects here.

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Written By

Kerry Sun

Finance Writer & Social Media

Kerry holds a Bachelor of Commerce from Monash University. He is an avid swing trader, focused on technical set ups and breakouts. Outside of writing and trading, Kerry is a big UFC fan, loves poker and training Muay Thai. Connect via LinkedIn or email.

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