Drilling analysis at the Oval target area of the Yambat project in southwestern Mongolia, undertaken by Asian Battery Metals (ABM), has been completed.
The main ore intersections are as follows:
An intersection of 88.5m at 79m depth, with a copper grade of 0.62%, nickel grade of 0.45%, platinum group metals (PGM) of 0.22 g/t, and cobalt grade of 0.02%. Among them, an intersection of 16.1m at 92m depth, with a copper grade of 1.39%; and an intersection of 0.4m at 108m depth, with a copper grade of 4.74%.
Another drillhole in the north intersected 34m of ore at 59m depth, with a copper grade of 0.41% and a nickel grade of 0.47%, including a 1.3m thick ore body with a copper grade of 4.7% and a nickel grade of 4.7%.
A drillhole designed to verify a moderate-intensity in-hole conductive anomaly encountered a high-sulphide ore body at a depth greater than the base of the Oval intrusion, intersecting 5.6m of ore at 290m depth, with a copper grade of 0.7% and a nickel grade of 0.45%, including 0.5m of mineralization with a copper grade of 1.39% and a nickel grade of 1.19%.
A ground-based electromagnetic survey will be used to guide subsequent drilling and verify deep ore-feeding structures.
Since September last year, sulphides have been encountered in seven drillholes.
The Oval copper-nickel mine is located in Govi-Altai Province, 25km west of the provincial capital, Altai City.
