Materials

Askari unveils nickel-cobalt drill test program at WA Callawa copper project

Tue 11 Oct 22, 11:22am (AEST)
Drilling - RC Drill Rig - Pilbara - Australia
Source: iStock

Key Points

  • Askari has wrapped up a 3D airborne survey, finding magnetic targets that coincide with the location of historical exploration results
  • Company believes it is onto strong leads for fresh nickel, cobalt, and chromium mineralisation
  • Geotechs will devise a “large scale” soil auger program in the coming weeks and months

Askari Metals’ (ASX:AS2) shareholders are no doubt enjoying 8% gains to 40c per share in the second hour of trade as the company logs fresh nickel and cobalt targets at its Callawa copper project in WA. 

While the company is not today reporting any mineralogical data itself, Askari has recently wound up a magnetic airborne survey over the acreage, which it says has turned up strong evidence of nickel and cobalt leads. 

Follow up exploration activities on-site are planned to chase up on targets known to have proven mineralisation in the exploration activities of former companies and individuals on-site prior to Askari’s involvement with the tenements. 

Copper, nickel, cobalt 

Though, Askari did pick up a hit of high-grade copper in a rock chip.

Copper, nickel, cobalt and chromium have all been identified on-site Askari’s Callaway acreage before. 

To that end, a “large-scale” auger work program is to be finalised in the near future to test the targets picked up in the magnetic survey. Askari also notes additional fieldwork will take place to survey for surface outcropping. 

Prior assay results and magnetics a good combination 

“The company is encouraged by the underexplored nature and historical results present at Callawa,” Askari’s exploration chief Johan Lambrechts said. 

“We have recently re-evaluated exploration opportunities…this review coincided with the completion of the HD magnetic survey.” 

“We have been able to correlate the magnetic structures with some very exciting nickel and cobalt results that supplement the high-grade copper results delineating within the project area and plan to follow up these new and exciting results.” 

A look at the shape of Askari's three month charts
A look at 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.

 

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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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