Askari Metals back to Barrow Creek this month to sample unexplored area

Tue 02 Aug 22, 10:18am (AEST)
A man ties the shoelaces on a pair of brown boots designed for rough terrain
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Key Points

  • Askari technicians will return to the Barrow Creek project acreage this month to sample previously untested area prospective for lithium
  • Results of Yarrie Lithium Project exploration campaign pending with updates on the horizon
  • Assay results from Burracoppin RC drill run remain outstanding; another explorer struggling with assay laboratory delays

Askari Metals (ASX:AS2) is back to Barrow Creek later this month to conduct surface samples on a wholly unexplored target at the lithium project called South Central. 

Its Barrow Creek project covers some 278 sq. km and is located in the NT’s Arunta lithium province, with Lithium Plus (ASX:LPM) and Core Lithium (ASX:CXO) projects nearby. 

In the March quarter, the company discovered pegmatite outcropping on-site with early evidence of possible lithium mineralisation promising. 

At the time, the company did not get the chance to thoroughly examine the South Central area—to where Askari returns in mid-August. 

Some 120 rock samples were collected at the areas outside South Central as well as 350 soil samples, the results of which ultimately bolstered what the company already well suspected: that lithium mineralisation is, indeed, present on the acreage. 

Busy times ahead for Askari’s wide project portfolio 

As for this quarter, Askari has enough on its plate to keep it busy. A timeline of works between now and late September, outside of Barrow Creek, runs as follows: 

  • Burracoppin assay results to be announced to market (both RC and auger drilling)

  • Yarrie Lithium assay results to be announced to market

  • Springdale copper-gold project assays to be announced to market

  • Fresh exploration to be undertaken at Callawa copper project

  • Initial exploration at Mt. Maguire gold project ahead of RC drill run

  • Horry Copper project maiden RC drill run to launch (results likely ready by Q4)

How is Aksari doing? 

Askari investors are having a good year, with a surface look at company performance showing promising signs for the company’s future. 

So far, year to date (YTD) performance sees Askari up 23.9% since early January. 

One month performance sees the company up 21%; one week sits at 16.3%. 

Perhaps most eyecatching is Askari’s performance compared to the ASX200 on a one year basis: Askari outperforms it by 48.2%.

A look at Askari Metals' one year charts shows it outperforming the ASX200 (XJO) for virtually the entire time
A look at Askari Metals' one year charts shows it outperforming the ASX200 (XJO) for virtually the entire time
Disclaimer: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. Askari Metals was a client at the time of publishing. All coverage contains factual information only and should not be interpreted as an opinion or financial advice.

Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication.

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