Maikhan Uul Drillhole MU2501 Yields 14.5m at 2.23% Copper and 0.73g/t Gold

Robust Assay Results Reinforce Maikhan Uul's Potential

Asian Battery Metals PLC (ASX – AZ9) has unveiled promising assay results from its recent due diligence drilling at the Maikhan Uul copper-gold volcanogenic massive sulphide (VMS) project in southwestern Mongolia. Drillhole MU2501, designed to twin a historic hole, intersected thick zones of high-grade copper and gold mineralisation, including a standout 14.5 metres grading 2.23% copper and 0.73 grams per tonne gold starting at 132.5 metres depth. These results validate earlier geological models and historic drilling data, underscoring the project's potential as a significant copper-gold resource.

Notably, the drilling also revealed encouraging shallow mineralisation with high-grade gold and silver intercepts near surface, such as 5.2 metres at 6.54 grams per tonne gold and 126.4 grams per tonne silver. This shallow mineralisation could enhance the project's economic prospects by potentially enabling earlier, lower-cost extraction phases.

Ongoing Exploration and Due Diligence

Drillhole MU2502, located 73 metres east of MU2501, has demonstrated mineralisation extending beyond previously drilled depths, with assay results pending. This suggests the deposit may have significant vertical growth potential, a key factor for resource expansion. The company is also conducting surface reconnaissance to delineate lateral extensions of the mineralised zones, with results expected shortly.

Asian Battery Metals is progressing technical and legal due diligence on the Maikhan Uul project, aiming to complete this phase by December 2025 or January 2026. Subject to satisfactory outcomes, the company plans to settle the acquisition of the project, which is strategically located within the Central Asian Orogenic Belt, a region known for hosting major copper producers.

Strategic Positioning and Next Steps

Managing Director Gan-Ochir Zunduisuren highlighted the significance of these results, stating that the confirmation of both high-grade copper and shallow gold mineralisation adds substantial value to the project. The company is also advancing metallurgical test work on its Oval Cu-Ni project, with results anticipated by December 2025, and is preparing for an expanded drilling and exploration program in 2026.

While no formal resource estimate or economic assessment has yet been made, the quality and thickness of the mineralised zones identified so far provide a strong foundation for future development. The company’s methodical approach to due diligence and exploration reflects a commitment to unlocking the full potential of its Mongolian portfolio.