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Maiden RC drilling at Askari’s Horry play starts next week, rockchip samples extend target area

Tue 06 Sep 22, 10:43am (AEST)
A red kangaroo standing in grasslands in the Flinders Ranges National Park in the Australian Outback
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Key Points

  • Askari’s latest fieldwork at the Horry project has extended the copper target area to the Mt. Dockrell and Western Lead target areas
  • Move comes as gold and copper found in soil samples and rock chip samples; drilling to commence ‘within the week’
  • While copper targets form the bulk of interest, drill testing will also test anomalous gold areas

As Askari Metals (ASX:AS2) gears up to commence drilling at its WA Horry copper-gold project within the week, the company has found more positive evidence suggesting copper and gold mineralisation is broadly dispersed on site. 

The results of two different surface fieldwork campaigns, collecting soil and rock samples respectively, have both boosted company geotechs’ confidence in the play with an extension to the copper target area now formally logged. 

Traces of both copper and gold were found near the Mt. Dockrell and Western Lead target areas on-site the Horry project acreage where previous exploration had not found such strong leads.

Target growth backed by 31 nuggets

In turn, the company notes its prospective mineralisation footprint at Horry has now grown. 

Worth noting, this is not the first big lead the company has encountered at Horry. 

In early August, the company noted its geotechs went mapping the surface at Horry, and came back to the lab with a total of 31 gold nuggets retrieved from site

Positive nature of results: Management 

“The increased footprint of the copper mineralisation is of particular interest as we lead up to the inaugural drill campaign scheduled to commence next week,” Askari VP of exploration Johan Lambrechts said. 

“In addition to drill testing the surface copper anomaly at the Horry Horse prospect, we will also test beneath some anomalous gold areas.”

“We are pleased with the positive nature of results and believe they support the increasing confidence [Askari] has in the Horry project.”

Slight delay to timeline 

The company’s maiden RC drill run at Horry was originally scheduled for late August, but now moves ahead to early September. 

Last month, Askari noted it expected the RC assay results to be ready before December, but with delays hitting all assay laboratories in WA, that remains to be seen.

A look at Askari's three month charts
A look at 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 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.

 

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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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