Asian Battery Metals (ASX:AZ9) Further Massive Sulphide Intercepts

2 December 2024

Price Sensitive Announcement $

Highlights:

• OVD027 intercepts massive sulphide north of prior intercept in OVD0211, likely indicating an almost flat orientation of massive sulphide along the general strike direction of the Oval intrusive body. Notable intercepts within the broader zone of mineralisation (refer to Table 1)
  are:
  o 6.1 metres of massive sulphide from 98.2m
  o 12.1 metres of net textured sulphide from 104.3m

Overview:

Mineralisation and Orientation of OVD027
Drillhole OVD027 was designed to test the Down-Hole Electromagnetic (DHEM) conductor plate identified as OVD022_B, which exhibits a conductance of 8,247 siemens (Table 2).

Drillhole OVD027 intercepted 91.8 metres of combined mineralisation of massive, moderate to dense disseminated, and net textured sulphide mineralisation patterns that are generally similar to OVD0214.

A total of high tenor 42.3 metres of mineralisation from 74.0 metres with weighted average mineral content of 2.9% chalcopyrite (Cpy), 2.3% pentlandite (Pn), 20.0% pyrrhotite (Po), 4.5% pyrite (Py)5 based on visual estimates (see Table 1 for estimated mineral %). The interval was calculated to include massive and high sulphide mineralisation.

The complete mineralised intersection consists of 49.5 metres of moderately mineralised gabbro, 24.2 metres of densely disseminated mineralised gabbro, 6.1 metres of massive sulphide mineralisation, followed by 12.1 metres of net-textured sulphide mineralised gabbro and 25.7 metres of low-mineralised gabbro6, with 0.2 metres fault gauge. The true thickness of the massive sulphides is approximately 5.4 metres, based on the orientation of the DHEM plate models.

Based on detailed visual mineral estimation and compositional analysis of the massive sulphide intercepts encountered in drillholes OVD027 and OVD0217, it has been confirmed that these intercepts belong to the same mineralised body.

Detailed analysis indicates that the massive sulphide intercept in OVD027 is located approximately 13.0 metres almost due north of the corresponding intercept in OVD0216. The top contact of the massive sulphide in OVD027 was encountered at a depth of 98.2 metres, while the top contact in OVD021 occurs at 107.2 metres6 supporting a shallow SE dip for the massive sulphide.

This variation in depth suggests that the massive sulphide body dips shallowly towards the south or southeast, further contributing to our understanding of its geometry and spatial continuity. These findings provide important geological insights, which will be used to guide further drilling and resource modelling.

Further geological and geophysical analyses are underway to characterise the mineralisation and determine its extent, orientation and grade. Additional details will be provided following the completion of laboratory assays and finalised modelling.

Company Notes:

The company’s Managing Director, Gan-Ochir Zunduisuren commented: “The results from OVD027 mark a pivotal step forward in understanding of higher-grade mineralisation at the Oval gabbroic intrusion and suggests its orientation is approximately flat lying and open to the NNW along the strike of the intrusion. With assays and modelling underway, we remain optimistic about unlocking additional high grade targets”.

Full ASX Announcement: 6A1241098.pdf