Oval Discovery Expansion Raises Questions on Resource Scale and Metallurgy

Exploration Progress at Oval

Asian Battery Metals PLC (ASX – AZ9) has reported encouraging progress from its ongoing exploration at the Oval copper-nickel-platinum group elements (Cu-Ni-PGE) discovery in Mongolia. The company recently completed eight diamond drill holes totaling over 1,000 metres as part of its Phase 3 drilling program. These holes targeted conductive plates identified by advanced fixed-loop electromagnetic (FLEM) surveys and geophysical anomalies, confirming thick down-dip extensions of mineralised zones at multiple locations within the Oval intrusion.

Notably, drill holes OVD041, OVD042, and OVD046 intersected significant sulphide mineralisation, including disseminated and semi-massive sulphide zones, which extend the known footprint of the mineralised system. Follow-up downhole electromagnetic (DHEM) surveys have revealed additional high-priority conductive plates that remain untested, highlighting further exploration upside.

Strategic Next Steps and Regional Expansion

With Phase 3 drilling results pending assay confirmation expected within 3 to 4 weeks, Asian Battery Metals is poised to commence Phase 4 drilling shortly. This next phase will focus on step-out drilling to test down-dip extensions and newly identified conductors at key prospects including MS1, MS2, Quartz Hill, and Maikhan Uul. The company’s Managing Director, Gan-Ochir Zunduisuren, expressed confidence that these efforts will better define the size and quality of the mineral system.

Beyond the Oval project, the company is advancing due diligence on the Maikhan Uul copper-gold volcanogenic massive sulphide (VMS) project, signaling potential expansion of its Mongolian portfolio. Concurrently, new ground geophysical surveys, including moving-loop electromagnetic (MLEM) and FLEM across other tenements such as Copper Ridge and Bayan Sair, aim to identify additional regional targets within this emerging copper-nickel belt.

Technical Insights and Exploration Model

The exploration approach integrates modern geophysical techniques with geological and magnetic data to delineate structural corridors and conductive bodies analogous to those at Oval. This methodical strategy has already yielded multiple high-grade sulphide intercepts, validating the geophysical targeting model. The company’s expanding land position and systematic survey work underpin a scalable discovery model across southern Mongolia’s frontier copper-nickel province.

While visual estimates of sulphide mineralisation provide early indications, laboratory assays and metallurgical testing currently underway will be critical to confirming economic potential. The complexity of mineralisation geometry means true widths remain to be constrained, but the consistent correlation between conductive plates and mineralised intercepts bodes well for resource growth.

Outlook

Asian Battery Metals is advancing steadily toward defining a significant copper-nickel-PGE resource at Oval, with upcoming assay results and Phase 4 drilling expected to provide further clarity. The company’s expanding exploration footprint and ongoing technical work position it well to capitalize on the growing demand for battery and energy transition metals sourced from Asia.