Askari Metals Limited
Shares on Issue 42.9 Mil
Mcap 8.6 Mil
Cash 5.8 Mil
EV 2.8 Mil
Five Brownfield Copper and Gold projects located in the Lachlan Fold Belt of New South Wales and Western Australia in close proximity to large deposits and other mines - each project has had previous exploration success through limited drilling programs which have identified high-grade copper and gold with significant exploration upside potential
The Horry Copper Project - high-grade Cu-Au-Ag gossanous mineralisation up to 60 m long and 2.4 m wide however broader zones of mineralization exist over 7.4 m width and 900 m along shear zone with rock chip results of up to 60% Cu – located in a region with demonstrated high-grade copper-gold exploration success – located along strike of the Halls Creek Copper Project, owned by Cazaly Resources Limited CAZ
The Callawa Copper Project - rock-chips with up to 28.7% Cu At Surface supported by other surface rock-chip results of 9.4% Cu, 7.63% Cu and 2.68% Cu. A series of small shallow pits are spread over about 40m related to quartz veins hosted in amph-plag schist. Historic rock-chip result of 19.0% Cu at surface with over 2km of prospective strike – located to the west of the Rio Tinto “Winu Copper Gold Discovery” and north-west of the large Nifty Copper Mine
The Springdale Copper-Gold Project - significant historic production with grades ranging between 8g/t Au and 40g/t Au – Potential Copper-Gold Porphyry targets hosted on late age Ordovician Volcanics – located along strike of the Junee Copper-Gold Porphyry Project held by DevEx Resources Limited DEV and to the east of the Temora Copper-Gold Deposits held by Sandfire Resources Limited SFR
The Burracoppin Gold Project – historic exploration including diamond drilling with shallow high-grade assay results including 3m @ 11.9g/t Au from 14m including 1m @ 32.4g/t Au –
PREVIOUS DRILLING ENDED IN MINERALISATION; SIGNIFICANT DRILL READY TARGETS; DRILLING TO COMMENCE ON LISTING
This is my favorite project from all the 5 projects
High grade assay results from drilling
▪ BF29 – 3m @ 11.9g/t Au from 14m
▪ Including 1m @ 32.4g/t Au
▪ BF30 – 1m @ 4.8g/t Au from 0m
▪ BF34 – 1m @ 7.0g/t Au from 19m
▪ BF33 – 2m @ 9.1g/t Au from 18m
▪ Including 1m @ 16g/t AuHigh grade rock chip samples on the tenure
▪ BF-05 - 71.39g/t Au (repeat 78.2g/t Au)
▪ A1673 - 63.97g/t Au (repeat 67g/t Au)
▪ A1674 – 63.15g/t Au (repeat 69g/t Au)
▪ BF01 – 41.88g/t Au (repeat 41.06g/t Au)
▪ BF03 – 29.7g/t Au (repeat 27.83g/t Au)
▪ A1675 – 15.1g/t Au (repeat 16.18g/t Au)
Limited RC drilling down to approximately 20m intersected the main veins and requires immediate drill testing at depth and to the west
▪ High-grade shallow intersections include:
▪ 18m @ 5.64 g/t Au (from 0m)
▪ 14m @ 13.7 g/t Au (from 32m)
▪ 9m @ 2.8 g/t Au (from 0m)
▪ 2m @ 9.3 g/t Au (from 18m)
The Mt Maguire Gold Project - extensive gold mineralisation identified in the previous drilling including 31m @ 0.84g/t Au from 20m including 1m @ 6.74g/t Au from 25m. Only tested with shallow RAB drilling. Strategically located along strike of Kalamazoo Resources Limited (ASX: KZR) Ashburton Project – Mt Olympus
Conclusion
2.8 Mil EV ..... 8.6 Mil Mcap ... Five Brownfield Projects .. Good Management .. Good Lead broker .. Simple Story.
There can be a lot of potential newsflows as they have five projects and news can come from many front!
IMO It should open between 26c to 28c and later it will depend on the newsflow. Also worth noting that they have loyalty options that will only be issued to investors who are holding stock on the record date. It will incentivize medium-term investors for not flipping their stock too early
GLTAH
ALL IMO
PLEASE DYOR
