Confirms Additional Massive Sulphide Mineralisation at North Oval
Perth, Nov 22, 2024 AEST (ABN Newswire) - Asian Battery Metals PLC (
ASX:AZ9) (UKN:FRA) is pleased to report the visual results of the currently ongoing 2024 Phase 2 diamond drilling program at the Oval Cu-Ni-PGE Project, located in the Gobi-Altai region of Mongolia.
HIGHLIGHTS:
- Drillhole OVD025 in the North Oval area has intercepted 3.6 metres of massive sulphide from 48.2 metres down hole within 12.4 metres of broader dense disseminated/net textured mineralisation from 44.6 metres
o Shallow intercept in OVD025 located 500m NW of previously reported massive sulphide intercept in OVD021 (8.8m @ 6.08% Cu, 3.19% Ni, 1.63g/t E3, 0.11% Co)
This area represents a second massive sulphide intercept in the Oval Cu-Ni-PGE mineral system and its discovery suggests other massive sulphides are likely to be present in the system
- Broad disseminated mineralisation of various intensity of sulphide is confirmed in drillholes completed near drill hole OVD021 to this date. Refer to Table 1* for details.
o Follow-up drilling based on recalibrated downhole EM planned near OVD021 in coming days
All assays are pending and will be finalised within the next 4 to 5 weeks.
Photo 1*. Close-up photo of sulphide mineralisation intercepted in OVD025: massive sulphides comprising chalcopyrite-pentlandite-pyrrhotite-pyrite at ~48.2m downhole (left) and net textured sulphide intercept chalcopyrite-pentlandite-pyrrhotite-pyrite at ~44.6m downhole (right).
Note: Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analysis where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations.
Drilling operation and DHEM measurements are progressing well with additional 3 to 4 holes remaining in the 2024 Phase 2 diamond drilling program. The drilling of reinterpreted conductive plate targets to the NNE side OVD021, which intercepted the first massive sulphide at Oval will commence shortly.
The company's Managing Director, Gan-Ochir Zunduisuren commented: "I am excited to share that massive sulphide mineralisation is confirmed at the North Oval area, a further 500 metres northwest of the previously intercepted and reported massive sulphide in drillhole OVD021, which is located at the central part of the Oval gabbroic intrusion. It supports that the mineralisation system at the Oval has the potential to accumulate high-grade ores in multiple parts of the system, including the magmatic source that may be at depth, and which will be the key focus of 2025 exploration."
2024 Phase 2 Diamond Drilling Program Update
ABM commenced the 2024 Phase 2 drilling program in November 2024 guided by recent Down-Hole Electromagnetic (DHEM) survey results. The main focus of this ongoing drilling campaign is to understand the high-grade mineralisation zone (8.8 metres of massive sulphide as disclosed in previous announcements) intercepted by drillhole OVD021 within the Oval gabbroic body, to determine its orientation, and to target deeper high-grade sections within the regional pull-apart structures.
To date, four Phase 2 drillholes have been completed (OVD022, OVD023, OVD024, and OVD025).
Drillhole OVD025 is at the North Oval Area and other drillholes completed are in the vicinity of OVD021 (Figure 1*).
Currently, the drill rig is operating at OVD026 to test the DHEM plate OVD007_L2_B (reinterpreted) that has a NE orientation along the northern part of the main Oval gabbroic intrusive body.
Upon completion of the OVD026, the drill rig will move to the NNE side of OVD021 to test reinterpreted conductive plates around OVD021 prior to moving to test conductive plates in the deeper SE part of the intrusion.
Massive and Net Textured Sulphide Intersection at North Oval
Drillhole OVD025 was designed to test the Down-Hole Electromagnetic (DHEM) conductor plate identified as OVD018_A, which exhibits a conductance of 14,029 siemens. The drilling intersected a total of 12.4 metres of densely disseminated, net-textured sulphide-mineralised gabbro, including a significant interval of 3.6 metres of massive sulphide mineralisation that consisted of 12.0% chalcopyrite (Cpy), 10.0% pentlandite (Pn), 65% pyrrhotite (Po), 6.0% pyrite (Py) from 48.2m based on visual estimate (see Table 1 for estimated mineral %).
The significance of this massive sulphide intersection in OVD025 is enhanced by its location within the North Oval area, approximately 500 metres northwest of the previous massive sulphide intersection encountered in drillhole OVD0212 . This fresh discovery of massive sulphide at the North Oval area, highlights the potential for additional massive sulphide zones within the Project area.
Drilling around OVD021
To date, three DHEM plates were tested by drill holes OVD022, OVD023 and OVD024 for continuation of the massive sulphide intercept in OVD021 in the directions W, ESE and SW. Broad zones of high intensity disseminated mineralisation were intersected without identifying further zones of massive sulphide mineralisation. Refer to Tables 1 and 2* for more details.
Southern Geoscience Consultants (SGC) has provided a reinterpretation of the plates correlating new DHEM measurements from drill holes OVD022 and OVD023, which indicate the massive sulphide continues in a NNE orientation which was not tested by these holes. A new drill hole OVD027 will test this new target shortly.
Drillhole OVD022
Drillhole OVD022 was designed to test the Down-Hole Electromagnetic (DHEM) conductor plate named OVD021_L1_B, which has a conductance of 11,417 siemens (Figures 1 and 3). The drilling intersected low to highly mineralised gabbro from 11.9 metres to 116.8 metres, and again between 143.6 metres and 148.8 metres. Of particular interest is a zone of dense disseminated sulphide mineralisation encountered from 89.8 metres to 98.5 metres. The visual sulphide estimation is 2.0% Chalcopyrite (Cpy), 10.0% Pyrrhotite (Po), and 1.3% Pyrite (Py) (Table 1*).
Drillhole OVD023
Drillhole OVD023 was designed to test the DHEM conductor plate named OVD021_A, which has a conductance of 3,374 siemens (Figures 1 and 3*). Drilling intersected mineralised gabbro from the surface down to 122.7 metres. Table 1* provides a detailed breakdown of mineralisation intervals.
Drillhole OVD024
Drillhole OVD024 was designed to test the DHEM conductor plate OVD021_B, which has a conductance of 19,744 siemens (Figures 1 and 3*). Drilling intersected mineralised gabbro from the surface to a depth of 151.4 metres. Table 1 provides a detailed breakdown of mineralisation intervals.
It is noted that these three drillholes OVD022, OVD023 and OVD024 were targeting DHEM plates which lie at high angles to the disseminated gabbro-hosted mineralisation and necessarily intercepted this phase of mineralisation at acute angles. While demonstrating the continuity of the disseminated mineralisation the intercepts are not able to be oriented to provide information on its true width, which cannot be reliably estimated from these holes.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/01107698
About Asian Battery Metals plc
Asian Battery Metals PLC (ASX:AZ9) (FRA:UKN) 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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