Askari Plans 5,000m Drilling Campaign Targeting High-Grade Gold at Nejo

Strategic Government Support Bolsters Askari’s Ethiopian Ambitions

Askari Metals Limited (ASX, AS2) has reinforced its commitment to the Nejo Gold and Copper Project in Ethiopia with a series of high-level meetings involving federal and regional government officials. Executive Director Gino D’Anna, currently on the ground in Ethiopia, has successfully engaged key stakeholders including the Ministry of Mines and Petroleum, Oromia Mineral Development Authority, and political advisors, securing broad-based support for the company’s exploration vision. This strong governmental backing is critical in a country positioning itself as a major mining investment destination in Africa.

Maiden Drilling Campaign Targets High-Grade Gold Zones

Askari is preparing to launch its maiden drilling program at Nejo, focusing initially on the Guji, Komto 1, and Komto 2 targets. These sites have demonstrated significant shallow, high-grade gold mineralisation in historical drilling and trenching, but have yet to be systematically explored. The Phase I campaign is designed to drill up to 5,000 meters, validating past results and expanding the known mineralised envelope. This effort is the first step in a broader 20,000-meter drilling strategy aimed at progressing towards a maiden JORC-compliant mineral resource estimate.

Expanding Exploration Across a Mineral-Rich District

Beyond gold, Askari’s exploration program is actively targeting copper mineralisation at the Katta target area, where previous UNDP drilling identified high-grade, shallow copper zones indicative of a volcanogenic massive sulphide (VMS) style deposit. The company is also reviewing extensive geochemical data revealing anomalies in platinum, nickel, rare earth elements, and other critical minerals across the 1,200 square kilometer Nejo landholding. This district-scale approach leverages modern technology and geophysics to refine drill targets and unlock further value.

Financial Strength and Broader African Portfolio

Askari Metals enters this exploration phase with a robust financial position, holding approximately $3.2 million in cash and assets. This funding supports not only the Nejo Project but also the recommencement of activities at the Uis Lithium Project in Namibia, which hosts polymetallic mineralisation including tin, tantalum, rubidium, and lithium. The company’s diversified portfolio and strategic partnerships, including with Shining Star, experienced in commercial-scale copper mining in Angola, position Askari well to capitalize on Africa’s growing mining sector and green energy transition.

Looking Ahead to a Pivotal 2026

With permits for drilling, camp construction, and environmental compliance underway, Askari is gearing up for a busy 2026. The company’s systematic exploration approach, combined with strong government relations and a clear pathway to resource definition, sets the stage for significant value creation. Investors and analysts will be watching closely as drill rigs mobilize and assay results emerge, potentially reshaping the outlook for this underexplored but highly prospective region of the Arabian-Nubian Shield.