Askari Metals eyes maiden drilling campaigns as commodity supercycle heats up
Askari expects a catalyst-rich year as it progresses early-stage lithium, copper and gold projects
Source: iStock
Mentioned
KEY POINTS
- Askari expects a catalyst-rich year as it progresses several early-stage projects across Australia
- Maiden drilling programs expected to kick off for lithium-copper projects
- The company's lithium projects neighbour names like Pilbara Minerals and Core Lithium
Battery metals and gold explorer Askari Metals (ASX: AS2) has a catalyst-heavy year ahead as it attempts to progress its early-stage projects.
Project overview
Askari has assembled several projects across Australia, the notable ones include:
Lithium
Yarrie Lithium Project, WA
North of Pilbara Minerals (ASX: PLS) and Global Lithium (ASX: GL1)
Initial exploration activities such as soil and rock sampling completed
Barrow Creek Lithium Project, NT
Neighbors Core Lithium (ASX: CXO)
Phase 2 of initial exploration activities completed
Copper
Horry Copper Project, WA
Heavily underexplored region
Encouraging copper-gold results from initial rock chip samples
Askari Battery Metals Projects (Source: Askari Metals)
Gold
Burracoppin Gold Project, WA
Phase 1 drilling program complete
Recent performance
Askari made its ASX debut last July at an IPO price of 20 cents per share.
The company's stock traded sideways until mid-January, where positive copper-gold results and an expansion of its lithium portfolio drove a sharp re-rate to a peak of 47.5 cents.
Askari shares have since stabilised around the mid 30 cent level, but pushing near-term highs on Friday, up 8% to 40.5 cents in early trade.
Catalyst heavy year ahead
2022 looks to be a massive year for Askari as the company progresses drilling activities across its portfolio.
Barrow Creek Lithium and Horry Copper are both poised for maiden drilling campaigns.
The Burracoppin Gold Project recently completed Phase II drilling and expects Phase III to commence in the second quarter of 2022.
Other early-stage projects are looking to commence preliminary exploration activities such as soil and rock sampling, and area mapping.
