AZ9 lifted by copper, nickel, PGE discovery in Mongolia
AZ9 reports high-grade copper, nickel, PGE assays at Oval discovery
Discovery shaping up to have scale potential with more drilling on the cards
Company expects to receive more assays from Phase 3 program this month
Special Report: Asian Battery Metals has confirmed high-grade mineralisation at its Oval copper-nickel discovery in Mongolia.
The discovery is part of the company's Yambat project, which covers 106.07km2 in the north-central part of Gobi-Altai Province, and is one of just 30 promising targets identified to date.
The company first announced its Oval discovery in September 2023. Since then, seven drillholes have intersected massive sulphides — geological markers often associated with high-grade copper-nickel systems. Notably, drillhole OVD0213 delivered exceptional grades of 6.08% copper and 3.19% nickel over 8.8 metres, ranking among the highest-grade intercepts drilled globally in recent years.
And now, assays from Phase 3 drilling have flagged a massive sulphide intercept in hole OVD034 which correlates well with previous results, with 1.3m at 4.70% copper, 3.65% nickel, 1.19g/t E3 (gold-platinum-palladium), 0.12% cobalt from 79.6m.
Drill hole OVD033 has confirmed strong mineralisation down-dip from Phase 1 standout hole OVD0211 with 27.7m at 1.36% copper, 0.86% nickel, 0.44 g/t E3, 0.04% cobalt from 92.3m and 6.7m at 1.17% copper and 0.96% nickel from 159.8m.
Meanwhile hole OVD032 intersected deeper, high-tenor sulphides, including 0.5m at 1.39% copper, 1.91% nickel, 0.62g/t E3 and 0.07% cobalt from 293.7m.
A cross-section map of drillhole OVD032. Pic: AZ9
Asian Battery Metals (ASX:AZ9) says the results confirm Oval as a new magmatic mafic intrusion-related copper-nickel sulphide system in southwestern Mongolia.
'These latest assays further validate our geological model and reinforce the continuity of high-grade mineralisation at Oval,' managing director Gan-Ochir Zunduisuren said.
'Since the initial discovery of massive sulphide mineralisation, a total of seven drillholes have now intersected massive sulphides, giving us growing confidence that we are onto a strong, high-grade mineral system with scale potential.'
A map of the Phase 3 drilling program. Pic: AZ9
Drill testing for deeper feeder zones
Importantly, visual logging of recent holes OVD036 and OVD0404 has indicated further strong intervals of massive sulphides, suggesting the system remains potentially open along strike and at depth.
Additional assay results from these holes are expected in late June.
The plan now is to commence a ground-based EM survey later this month to guide follow-up drilling and test for deeper feeder zones.
'We remain fully funded for 2025 exploration work to continue our exploration and appraisal of the Cu-Ni system, which is the first of its kind found in the south-west part of Mongolia,' Zunduisuren said.
AZ9 remains fully funded for further drilling in 2025, following strong support from institutional and strategic investors in the recent placement in February 2025.
Expanding massive sulphide footprint
The assay results follow the company's announcement last week that it had intercepted yet more massive sulphides at Yambat, with hole OVD036 intercepting additional massive sulphide 130m down dip from an earlier intersection in OVD025 – extending mineralisation at North Oval.
Hole OVD040 struck 6.9m of massive sulphide from a down-hole depth of 95.5m about 22m north of the sulphide intercept in OVD021.
The company said this confirmed a potential 800m long zone of shallow mineralisation linking North Oval through to Oval. This deeper zone may represent a feeder system — a potential conduit for metal-rich magma feeding the main Oval intrusion, which could point to a much larger mineralised system.
'As our exploration continues, we have expanded our mineralisation footprint, identified a depth extension and added new targets at the project,' Zunduisuren said at the time.
The company is also mobilising advanced deep penetrating ground electromagnetic surveys from Australia this month to refine targets and explore new anomalies.
With assays pending from recent massive sulphide intercepts — including OVD036 and OVD040 — and new geophysical surveys underway, investors can expect a steady stream of results. This momentum, combined with the emerging scale of the system, makes AZ9 one to watch closely in the months ahead.
This article was developed in collaboration with Asian Battery Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Originally published as Asian Battery Metals lifted by polymetallic assays at Mongolian project
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News.com.au
an hour ago
- News.com.au
Break it Down: Trigg Minerals expands US critical minerals quest into tungsten
Stockhead's Break it Down brings you today's leading market news in under 90 seconds. In this episode, host Tylah Tully looks at the latest from Trigg Minerals (ASX:TMG), who is expanding its critical minerals interests into tungsten, acquiring the Tennessee Mountain project in the Nevada. Watch the video to learn more. While Trigg Minerals is a Stockhead advertiser, it did not sponsor this content. Originally published as Break it Down: Trigg Minerals expands US critical minerals quest into tungsten
News.com.au
an hour ago
- News.com.au
Lunch Wrap: Stocks slip lower at lunch, market operator ASX plunges as monopoly under threat
Market operator ASX plunges as monopoly days look numbered Tech and real estate perk up on rate cut whispers Rio and Fortescue wobble as China property hopes fade By Thursday lunchtime in the east, the ASX was slipping a bit further into the red, down by 0.25%. Banks lagged, but retailers and real estate led the winners – those rate-sensitive beasts that perk up fast when rumours of rate cuts start floating in from Wall Street. And float in they did. Overnight, the Fed Reserve's Neel Kashkari cracked the door open, saying a rate cut might arrive 'soon'. In the mining space, iron ore names like Rio Tinto (ASX:RIO) and Fortescue (ASX:FMG) came under pressure after UBS walked back its call on China's property rebound. Analyst John Lam now reckons the turnaround won't hit until mid-to-late 2026, later than the early 2026 bounce he tipped just a few months ago. Without fresh stimulus, the sales slump is likely to linger. That's bad news for iron ore demand, and markets know it. This is where things stood at about 12:50pm AEST: In the large caps space, the embattled market operator, ASX (ASX:ASX), took a spectacular nosedive, down 9%, after Treasurer Jim Chalmers suggested he would move to end its long-standing monopoly. The timing couldn't have been worse. ASX had just told investors it's about to book up to $35 million in unexpected compliance and legal costs next financial year, as ASIC pokes deeper into its governance and systems. And to add insult to injury, it just came off a bungled announcement yesterday that mistakenly linked TPG Telecom (ASX:TPG) to a takeover bid, causing chaos and a $400 million hit to its market cap. Australia's corporate cop, ASIC, already said it was in the 'final stages' of weighing up a move that could finally let US exchange giant Cboe go toe-to-toe with the ASX. This would give local companies the option to list somewhere that isn't, well… the ASX. Still in large caps, AMP (ASX:AMP) rose 1% despite revealing a statutory net profit of $98 million, down nearly 5% year-on-year. One notable move this morning was gaming giant Light & Wonder (ASX:LNW), which announced it will officially delist from Nasdaq and go all-in on the ASX. After mulling it over for months, the Las Vegas-based company says the ASX will become its sole listing by November 2025. LNW's shares plunged 5%. ASX LEADERS Today's best performing stocks (including small caps) intraday: Security Description Last % Volume MktCap AYM Australia United Min 0.003 50% 60,959 $3,685,155 MOM Moab Minerals Ltd 0.002 50% 500,000 $1,874,666 RLC Reedy Lagoon Corp. 0.003 50% 300,000 $1,553,413 EDEDA Eden Inv Ltd 0.044 33% 456,555 $6,781,304 BLZ Blaze Minerals Ltd 0.004 33% 690,000 $5,335,392 XRG Xreality Group Ltd 0.041 32% 14,188,502 $23,049,973 PFT Pure Foods Tas Ltd 0.025 25% 188,405 $2,808,512 AUQ Alara Resources Ltd 0.040 25% 3,392,548 $25,698,801 BIT Biotron Limited 0.003 25% 239,090 $2,654,492 MOH Moho Resources 0.005 25% 600,982 $2,981,656 PER Percheron 0.010 25% 838,751 $8,699,501 ERD Eroad Limited 1.795 25% 1,628,836 $269,956,591 MQR Marquee Resource Ltd 0.014 23% 17,340,817 $6,453,911 4DX 4Dmedical Limited 0.480 22% 3,548,357 $183,888,487 AMS Atomos 0.006 20% 36,646 $6,075,092 AOK Australian Oil. 0.003 20% 20,000 $2,594,457 IMI Infinitymining 0.012 20% 606,928 $4,230,158 RAS Ragusa Minerals Ltd 0.024 20% 475,984 $3,563,976 OEC Orbital Corp Limited 0.190 19% 512,941 $26,364,755 AN1 Anagenics Limited 0.007 17% 81,674 $2,977,922 GTR Gti Energy Ltd 0.004 17% 652,112 $11,167,964 TSL Titanium Sands Ltd 0.007 17% 169,905 $14,068,483 CC5 Clever Culture 0.036 16% 6,801,427 $55,271,853 EOS Electro Optic Sys. 5.085 15% 6,956,139 $850,918,757 XReality Group (ASX:XRG) has scored a $5.7m contract with the Texas Department of Public Safety, its biggest Operator XR order yet. The deal covers VR training systems, rollout, and support, with delivery due in Q2 FY26. Back home, XRG has also picked up a $2.1m government grant to ramp up AI across the platform. Alara Resources (ASX:AUQ) has flicked the switch on new tailings filter presses at its Al Wash-hi Majaza copper-gold plant in Oman, boosting production capacity from around 65% to a projected 85-90%. The interim units, sourced from China, are already lifting output, with monthly concentrate expected to hit 3000-3200 dry tonnes. A permanent press is on the way, which should push the plant closer to full throttle. Marquee Resources (ASX:MQR) has struck antimony in every hole from its first drill campaign at Mt Clement, confirming extensions and uncovering new structures. The project sits next to Australia's largest undeveloped antimony resource, and a maiden mineral resource estimate is due by August-end, with phase 2 drilling to kick off this quarter. Infinity Mining (ASX:IMI) has confirmed more high-grade gold at its Sir Walter Scott prospect in northern NSW, with nine out of 12 rock chips grading over 1 g/t, including a standout 68.6 g/t. The samples were taken along a 1km corridor, building on earlier results and aligning with historical high-grade production from the late 1800s. ASX LAGGARDS Today's worst performing stocks (including small caps) intraday: Code Name Price % Change Volume Market Cap SRN Surefire Rescs NL 0.001 -50% 578,000 $6,457,219 MTL Mantle Minerals Ltd 0.001 -33% 22,040,000 $9,671,169 GGE Grand Gulf Energy 0.002 -25% 20,565 $5,640,850 RPG Raptis Group Limited 0.123 -21% 27,636 $54,356,152 WBE Whitebark Energy 0.004 -20% 28,334 $3,502,788 SRJ SRJ Technologies 0.005 -17% 10,484 $4,168,480 TOU Tlou Energy Ltd 0.022 -15% 467,000 $33,763,192 IDT IDT Australia Ltd 0.077 -14% 1,144,398 $38,593,518 ANX Anax Metals Ltd 0.006 -14% 100,000 $6,179,653 NAE New Age Exploration 0.003 -14% 20,347,856 $9,470,690 RGL Riversgold 0.003 -14% 337,000 $5,892,994 UNT Unith Ltd 0.006 -14% 4,949,609 $10,351,498 SLX Silex Systems 4.010 -13% 3,225,219 $1,102,429,502 TMG Trigg Minerals Ltd 0.096 -13% 29,704,429 $124,836,991 BLU Blue Energy Limited 0.007 -13% 48,206 $14,807,789 BNL Blue Star Helium Ltd 0.007 -13% 8,254,343 $21,559,082 CHM Chimeric Therapeutic 0.004 -13% 3,312,305 $12,996,494 ASE Astute Metals NL 0.015 -12% 9,877,115 $10,508,545 SMM Somerset Minerals 0.015 -12% 2,301,278 $10,966,369 SRK Strike Resources 0.031 -11% 210,733 $9,931,250 HYD Hydrix Limited 0.016 -11% 19,797 $4,909,839 BCK Brockman Mining Ltd 0.017 -11% 56,742 $176,324,410 IN CASE YOU MISSED IT Maronan Metals (ASX:MMA) has entered into an MoU with Austral Resources (ASX:AR1) to toll treat ore at Austral's Rocklands processing facility. Green Technology Metals (ASX:GT1) and partner EcoPro Innovation have produced lithium hydroxide averaging more than 94% recoveries using ore from the company's Seymour project in Canada. Gold producer Ariana Resources is looking to dual-list on the ASX with plans to raise between $10-15 million.
Courier-Mail
an hour ago
- Courier-Mail
Revolutionary NSW road markings trial reveals dramatic safety improvement
Don't miss out on the headlines from On the Road. Followed categories will be added to My News. Motorists in one Australian state could soon see an increase in glow-in-the-dark road markings following a successful trial that has slashed night-time accidents. In December 2024, the state government installed photoluminescent line markings along Bulli Pass, a steep and winding descent south of Sydney, to improve night-time visibility and road safety. Tesla's self-driving tech hits Australia Tesla has published a video of its upcoming "full self-driving" feature being tested on Australian roads in Melbourne, as David McCowen reports. Video Player is loading. Play Video This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. X Learn More Loaded : 40.34% 0:00 00:00 / 00:00 Close Modal Dialog This is a modal window. This modal can be closed by pressing the Escape key or activating the close button. 00:24 SUBSCRIBER ONLY Tesla's self-driving tech hits Australia more... more upcoming "full self-driving" feature being tested on Australian roads in Melbourne, as David McCowen reports. Tesla has published a video of its... ... more Bulli Pass was initially selected due to a spate of near misses involving trucks and motorcycles. Six months on, Transport for NSW has confirmed to Yahoo News that additional sites are now being reviewed, following the trial's promising early results, which included a 67 per cent drop in night-time near misses. There have been promising results since NSW trialled the technology late last year. Picture: Supplied MORE: Car giant's brutal truth: 'We're terrible' The success of the Bulli Pass trial has prompted the government to explore expanding the technology to other high-risk locations across the state. Similar to glow-in-the-dark toys and stickers, these road markings are made with a photoluminescent paint that absorbs sunlight during the day and emits a soft glow at night. This technology aims at helping drivers see lanes more clearly and navigate curves in lowlight conditions. A Transport for NSW spokesperson told Yahoo News the glow markings are designed to improve visibility in low light and poor weather, especially on roads where regular street lighting isn't practical. The hairpin turn on Bulli Pass using glow-in-the-dark markings. Picture: Supplied MORE: 'Fearless' supercar stuns with speed 'The benefit of the glow was greatest in improving visibility beyond the range of vehicle headlights — increasing the visibility of the lines on the bend to just below daylight detectability when the glow was fully charged,' they said. Community feedback has also been overwhelmingly positive, with 83 per cent of surveyed motorists backing the trial after reporting an increased sense of safety when travelling along the route. Glow-in-the-dark road markings may become one of several safety tools used to help meet the state's ambitious goal of eliminating all road deaths and serious injuries by 2050. And not only can it be used for drivers on roads, but it can also be expanded to footpaths, bike paths, helicopter landing pads, and airstrips in a bid to improve visibility and safety. While NSW's trial has gained momentum, Victoria previously tested similar technology in 2022 but did not move forward with a wider rollout. Five rural roads, including a one-kilometre stretch of Metong Road in Victoria's southeast, were illuminated under the trial, conducted by Gippsland company Tarmac Linemarking in collaboration with OmniGrip and VicRoads. MORE: Huge ask for Australia's most valuable car Victoria trialled glow-in-the-dark markings on Metong Road in 2022. Picture: Supplied Tarmac Linemarking's John Emanuelli said at the time he had been swamped by businesses and councils looking to have their paths illuminated. 'There's been a lot of interest since the trial run, it's a great product,' he said. An independent evaluation of the trial conducted for Victoria's Department of Transport and Planning concluded there were insufficient road safety benefits to justify rolling out photoluminescent line markings on more roads. Unlike NSW's trial, however, Victoria's did not include very low-speed environments such as tight curves on high-speed roads. Originally published as Glow-in-the-dark road markings to expand across NSW
