Lithium

Askari Metals eyes maiden drilling campaigns as commodity supercycle heats up

Fri 11 Mar 22, 11:56am (AEST)
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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 

Copper

  • Horry Copper Project, WA

    • Heavily underexplored region 

    • Encouraging copper-gold results from initial rock chip samples

Askari Projects
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 Metals price chart

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.

Written By

Market Index Corporate

Market Index helps small-cap ASX listed companies connect with a large audience of Australian investors through clear and concise articles on key developments. All coverage contains factual information only and should not be interpreted as an opinion or financial advice. Consider consulting a qualified financial adviser before making an investment decision.

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