Materials

Askari starts RC copper drilling at WA Horry project, where it also found 31 gold nuggets

Tue 13 Sep 22, 10:34am (AEST)
A drill rig in the Australian outback
Source: iStock

Key Points

  • RC drilling has commenced for a total 2,500m at the Horry copper-gold project
  • Earlier this year, the company found 31 gold nuggets when it conducted fieldwork on-site

Patient Askari Metals (ASX:AS2) shareholders will likely be enthused today to see the company kick off RC drilling at its Horry project after a promising build up to the campaign. 

This will be the first drill program to ever launch at the Horry copper-gold play.

Last week, the company noted a brief delay to the original timeline put RC drilling into mid-September, as opposed to late August. 

That may have come as an exercise in endurance, given that the Horry project is the same place where Askari geotechs in early August found 31 gold nuggets at the project while conducting fieldwork. 

At the time, the company’s share price jumped 14.75% on that news alone. Sediment sample results for gold at the time also showed high grades of gold. 

As for gold, so for copper 

And what promise there is for gold at Horry, there is also for copper. 

Rock-chips containing copper of up to 8.5% (considered high grade by investor information provider Undervalued Equity) have in part formed the schedule of targets to be drilled in this RC campaign, with all drillholes in the top 400m. 

Step out drilling later on in the 2,500m campaign will be decided upon based on the results of the initial Phase I leg of activity. 

However, gold won’t be left out of this drill run. Secondary exploration targets on the geotechs’ maps include two areas in the north of the project prospective for gold, a lead based on the discovery of surface nuggets the company found in August. 

A Strike Drilling-owned RC rig perforating the first drillhole sunk onsite the Horry copper-gold project
A Strike Drilling-owned RC rig perforating the first drillhole sunk onsite the Horry copper-gold project

Carrying forward confidence 

“We are excited by the commencement of this inaugural RC drilling campaign at Horry,” Askari’s VP of exploration Johan Lambrechts said. 

“Finding high-grade copper below the surface will be an accelerant for future exploration activities.” 

“We will carry forward the confidence gained by the positive surface results at the project into drilling.” 

Askari Metals' three month charts
Askari Metals' 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 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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