Askari Metals to Launch Major Exploration at Nejo Gold-Copper Project in Ethiopia

Following its recent desktop study exploration success, Askari Metals (ASX: AS2) is set to accelerate activities designed to build on its understanding of the new Nejo gold and copper project in Ethiopia.

Askari announced in early July that it had acquired Nejo for an upfront cost of $200,000 in cash, $200,000 in shares and 20 million unlisted options with an exercise price of $0.06 and a three-year expiry.

Within days of finalising the acquisition, Askari revealed it had identified significant copper potential at the East African project in the form of high-grade mineralisation across a significant thickness at the Katta target, including 14.33 metres at 3.2% copper and 35.51m at 0.82% copper.

‘Boots on the Ground’

With a clear strategy aimed at accelerating its understanding of Nejo’s significant potential, the company is preparing to “put boots on the ground” with the launch of a regional exploration program.

A field team of exploration specialists is preparing to undertake an initial reconnaissance exploration program at the project, with a particular focus on high-grade shallow gold mineralisation the company has identified across the Guliso and Guji-Gudeya trends.

The program will also further investigate the Guliso trend, which features a continuous strike of approximately 10km that remains open to the north-east and south-west.

Guji-Gudeya Targets

Askari also has a range of targets to investigate at Guji-Gudeya, with historic exploration defining a continuous strike of approximately 9km lying parallel to the Tulu Kapi trend.

“Commencing field work to validate and expand upon historical exploration is a key step in unlocking the potential of the Nejo project [and] this initial reconnaissance program lays the foundation for a focused drilling campaign planned to commence in Q4 of 2025,” executive director Gino D’Anna said.

“We are prioritising high-impact, drill-ready targets such as Guji, Komto 1, and Komto 2, while concurrently advancing follow-up work at Soyoma, Dina, Chago, and South Chago.”

“These zones have demonstrated compelling gold potential and will benefit from systematic trenching ahead of drilling.”

Copper Exploration

Askari is also in the process of designing a separate exploration program to test the high-grade copper mineralisation identified earlier across the Katta target.

Askari is using a review of historical exploration activities that generated a number of high-priority targets, and the company believes the Nejo Project remains a very underexplored opportunity with significant exploration upside.

“With a clear pathway to drilling and potential resource definition, we believe we are well-positioned to deliver substantial exploration milestones and establish Askari Metals as a leading gold and copper developer in Africa,” Mr D’Anno added.