Askari Metals grows Burracoppin gold play with new step-out mineralisation detected

Wed 17 Aug 22, 12:07pm (AEDT)
Gold nuggets resting on dirt in shallow water
Source: iStock

Key Points

  • Burracoppin gold project’s Benbur prospect given potential 600m strike extension after gold found in surface soil auger tests
  • Company now has several drill targets prospective for gold ahead of next RC drill run
  • Mineralisation trends into untested area with minimal historical exploration

Askari Metals (ASX:AS2) has today announced the growth of its Burracoppin gold project at the Benbur prospect, with auger drilling returning evidence of gold in surface samples. 

The auger drill campaign has handed Askari’s geotech team the ability to map mineralisation along a 4km strike length on-site with a number of untested drill targets now in line for Phase IV RC drilling. 

Worth noting is that Askari expects to receive assay data by this time next month from its latest Phase III RC drill run at Burracoppin which wound up in late June. 

Protracted delays at assay laboratories across WA are currently delaying the best laid plans of junior explorers sector-wide. 

What has Askari found?

Gold concentrations reported today are broken down into parts per billion and reflect non-commercial quantities of gold. However, its presence at shallow surface could indicate known mineralisation extends further underground than previously thought.

This is clearly what Askari is banking on, with a number of untested targets slated for the drillhead when the fourth RC campaign kicks off. 

Should the Phase III assay data prove promising, management notes there is potential for another increase in the total estimated gold yield of the project, on top of that awarded by fresh data from Benbur. 

3.6km of assays due

“Excitingly, the results also add weight to and even upgrade an interpreted mineralised area east of Benbur over an area that has never been explored in detail,” Askar’s VP of exploration and geology Johan Lambrechts said. 

“The Phase III RC drilling program tested this area with maiden drilling which may add another mineralised zone to the Burracoppin project…[we] eagerly await the assay results from the third phase drilling.” 

Those assay results could be substantial: in late June, the company sent off nearly 4km worth of core for analysis. 

A busy second half for Askari 

In the background, Askari continues to proceed with drilling at its Pilbara-based Yarrie lithium project, having recently identified five exploration targets. 

The Yarrie project sits nearby Global Lithium Resources’ (ASX:GL1) Archer project, as well as Kalamazoo Resources’ (ASX:KZR) Marble Bar project. 

The Archer project boasts a resource of 10.5Mt @ 1% lithium (Li2O). 

Meanwhile, Askari also recently had success at its WA ‘Horry’ copper-gold project, where geotechs retrieved thirty one gold nuggets. Drilling at Horry starts later this month.

The shape of Askari's three month charts
The shape of Askari's three month charts
Disclaimer: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. Askari 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.


Related Tags

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.

Get the latest news and insights direct to your inbox

Subscribe free