Asian Battery Metals PLC (ASX:AZ9) Flagship Cu-Ni-PGE Project Expanded
Asian Battery Metals PLC (ASX: AZ9)
HIGHLIGHTS
• Binding agreement with Best Resources LLC for exclusive option to acquire the Maikhan Uul copper-gold project
o Located only 8 km from the AZ9’s flagship Oval Cu-Ni-PGE discovery
o Mining license with tenure through to 2045
o Historical drilling confirms near-surface VMS-style copper-gold mineralisation
o Potential to expand the existing resource at depths below the current 215m limit of historic drilling
• New tenement for mineral exploration issued by the Government
o Spans 3327.17 hectares south of Yambat tenement
o Issued for 3 years (renewable to 12 years), with minimal obligations for exploration and environmental commitments
o New tenement acquisition based on knowledge from potentially district scale discovery at Oval
o Covers part of a regional magnetic high, interpreted as a potential extension of MS1 and Oval intrusive zones
Asian Battery Metals PLC (ABM or the Company, ASX: AZ9) is pleased to announce it has secured exclusive rights to evaluate the Maikhan Uul copper-gold project, located in southwestern Mongolia, just 8 km from its flagship Oval Cu-Ni-PGE discovery. Securing the exclusive option aligns with ABM’s strategy to consolidate and grow a critical minerals footprint in Mongolia, with a strong emphasis on copper as a key enabler of the global energy transition.
Located 300km from the Southern border with China, Maikhan Uul is a volcanogenic massive sulphide (VMS)-style deposit. Historical drilling confirms multiple mineralised zones extending to and open below 215m depth, with a 2015 foreign resource estimate of 5.0Mt @ 0.58% Cu and 0.16g/t Au (non-JORC compliant). The area is subject to a mining licence to 2045 and is well serviced by good infrastructure and high-voltage power.
In parallel, the Company has also expanded its position in the region through the successful acquisition of a new mineral exploration tenement to the south of its Yambat Project spanning 3327.17 hectares via Government tender. The area lies over a prominent regional magnetic anomaly believed to be structurally related to the MS1 and Oval target areas. Initial exploration, including IP geophysics, is planned for later in 2025.
Gan-Ochir Zunduisuren, Managing Director of Asian Battery Metals PLC, commented: “The Maikhan Uul Cu-Au Project is a natural extension of our regional copper-focused exploration strategy and is strongly synergistic with our existing Oval Cu-Ni discovery within the Yambat Project, both geographically and operationally. With shallow VMS-style mineralisation, a long-standing mining license, and close proximity to existing infrastructure, this project gives us exciting near-term optionality as we build a critical mass around our core asset in Mongolia.
“We are also pleased to secure a new tenement covering the south side of the current tenement, an important step to increase our regional footprint. This award by the Government is a credit to our team and our recent successes”.
The acquisition of the Maikhan Uul copper-gold project and the new mineral exploration tenement will not constitute a change in the nature and scale of the Company’s activities as the acquisitions collectively represent an increase of less than 25% to the Company’s total consolidated assets, total equity and its budgeted expenditure for the next 12 months. For this reason, the Company will not seek shareholder approval for the acquisitions.
MAIKHAN UUL CU-AU PROJECT
Project Overview
Located in Sharga soum, Govi-Altai aimag, approximately 40 km northwest of the Govi-Altai aimag center, 50 km northeast of the Sharga soum center, and 12 km southeast of the Ulaan Tug bagh center of Sharga soum, at the northern foot of Maikhan Ulaan Hill.
According to the tectonic zonation of Mongolia, the Maikhan Uul deposit is situated at the southern boundary of the Zavkhan and Nuur zones of the North Mongolian Fold System, and within the Tayan and Baruunkhuurai zones of the Mongolian Altai Fold System. Metallogenically, it is located in the Dund Shar district of the Undur Ulaan Khasagt metallogenic zone. The Maikhan Uul project area lies in the southern part of the Zavkhan-Orkhon continental active margin terrane, between the Sharga and Darvi-Bayan Ulaan deep faults. The mineralisation of the deposit is hosted within chlorite and sericite altered schistose rhyolite porphyry of LowerMiddle Riphean age, as well as carbonatised rhyolite porphyry altered to hydrogoethite.
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About Asian Battery Metals PLC
Asian Battery Metals PLC is a mineral exploration and development company focused on advancing the 100% owned Yambat (Oval Cu-Ni-PGE, Copper Ridge Cu-Au), Khukh Tag Graphite and Tsagaan Ders Lithium projects in Mongolia.
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www.asianbatterymetals.com.
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