Total
0
Shares
Springdale Project. Source: Askari Metals
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Askari Metals (AS2) has been granted the permits for the Springdale Copper-Gold Project in New South Wales
  • The project is believed to be prospective for intrusive-related gold mineralisation and the company will test this with ground reconnaissance work
  • Askari says being granted the project marks an important milestone for the company as it paves the way for it to start exploration activities
  • Depending on results from initial reconnaissance and survey work, Askari may conduct drilling
  • Company shares ended the day 2.5 per cent in the red to close at 19.5 cents

Askari Metals (AS2) has been granted the permits for the Springdale Copper-Gold Project in New South Wales.

The Springdale Project is located in the prospective Lachlan Fold belt and is considered prospective for intrusive-related gold mineralisation.

So far, Askari’s initial analysis of the project area has shown the potential for it to host structurally-controlled gold mineralisation.

Being granted the project allows the company to finalise its plans for initial exploration programs at the project.

Vice President for Exploration and Geology, Johan Lambrechts, commented on the announcement.

“We are delighted that the permits for the Springdale Project have been successfully granted. This is an important milestone for the company and clears the way for us to kick off our exploration programs,” Mr Lambrechts said.

“This area is heavily underexplored and has not seen much modern exploration, increasing the potential for undiscovered gold and copper mineralisation.”

To test this potential, and the potential for porphyry copper-gold and iron oxide copper-gold (IOCG) mineralisation, the company will undertake ground reconnaissance work and an induced polarisation (IP) survey.

The survey will also help to identify potential targets and, depending on the results, Askari may undertake a reconnaissance drilling program.

Company shares ended the day 2.5 per cent in the red to close at 19.5 cents.

AS2 by the numbers
More From The Market Herald
SRG Global (ASX:SRG) - Managing Director, David Macgeorge

" SRG’s (ASX:SRG) Bugarrba JV secures $25m contract with Fortescue (ASX:FMG)

SRG Global (SRG) has updated the market on a new contract secured by its Bugarrba Aboriginal joint venture (JV).

" Auroch Minerals (ASX:AOU) tags multiple targets at Nepean nickel project

Auroch Minerals (AOU) has identified multiple drill targets at the Nepean Nickel project in Western Australia following completion of down-hole geophysical surveys.

" Tesoro (ASX:TSO) reports further ‘high-grade’ zones at Ternera

Tesoro Resources (TSO) says it is continuing to discover and define high-grade zones at the Ternera Gold Deposit within the El Zorro Gold
BlackEarth Minerals (ASX:BEM)- Managing Director, Tom Revy

" BlackEarth Minerals (ASX:BEM) signs joint venture agreement to produce graphite

BlackEarth Minerals (BEM) has penned a joint venture agreement to develop an expandable graphite plant in India.