Askari Metals Set to Fast-Track Exploration at New Nejo Gold Project in Ethiopa
Askari Metals (ASX: AS2) is preparing to hit the ground running at its newly acquired Nejo gold project in Ethiopia.
The company’s acquisition of Nejo earlier this month has added scale, high-grade gold upside, proven mineralisation, and proximity to major gold operations on a globally significant greenstone belt.
Askari is now focused on high-impact, low-cost exploration campaigns designed to fast-track the development of Nejo towards a maiden JORC (2012) mineral resource estimate (MRE).
Gold Mineralised Extensions
Of particular interest is the fact that Nejo surrounds the 1.7-million-ounce Tulu Kapi mine, where previous exploration has identified gold mineralised extensions.
The company intends to take advantage of its African-focused exploration team in one of the last mineral-rich frontier belts hosting several multi-million-ounce deposits and commercial mines with significant discovery potential.
Askari will undertake drilling on a number of already identified targets to support the upcoming MRE release.
Numerous High-Priority Targets
Along with the 10 targets already identified in historical drilling, Askari plans to test mineralised and fertile greenstone belts within the Arabian-Nubian Shield, an area known as a potential host for major multi-million-ounce gold discoveries and deposits.
Several priority gold mineralised targets are in line to be tested along strike of known deposits.
Askari is also planning to undertake trenching, soil geochemistry and drilling within a corridor of interest it has identified to have 60 kilometres of strike potential.
Significant Historical Exploration
In announcing the acquisition from Xingxu Mining, executive director Gino D’Anna said the area around Nejo remains largely underexplored and offers extensive exploration upside.
“This transformational acquisition represents an outstanding opportunity to position ourselves at the forefront of one of Africa’s most exciting gold regions, with a flagship asset that has scale, high-grade gold upside, proven mineralisation and proximity to major gold operations,” Mr D’Anna said.
The Nejo project covers 1,174 square kilometres of the same prolific Greenstone Belt that houses Allied Gold’s Kurmuk mine, which has a targeted annual gold production rate of 290,000oz.