Asian Battery Metals Expands Mineralisation at Oval Project Mongolia

Asian Battery Metals Expands Mineralisation Footprint at Oval Cu-Ni-PGE Project

Asian Battery Metals (ASX: AZ9) has announced significant progress at its 100%-owned Yambat Project in Western Mongolia, where recent drilling has extended mineralisation and identified new high-conductance electromagnetic targets, reinforcing the district-scale potential of this emerging copper-nickel system.

Expanding the Oval Mineralisation Envelope

Recent drilling has successfully expanded the known mineralisation at the Oval Cu-Ni-PGE discovery, with three key intercepts extending the system:

• Drillhole OVD048 intercepted 16 meters of mineralised mafic intrusion near surface, extending mineralisation approximately 30 metres up-dip to the north
• Extended drillhole OVD011E confirmed continuity of sulphide mineralisation and identified a deep conductive plate (8,665 Siemens) along the interpreted feeder trend
• Drillhole OVD047 intersected significant disseminated mineralisation including 56 meters from 29.2m depth and 29 meters from 102.1m

"Each phase of drilling continues to strengthen our understanding of the Yambat system. Oval has all the hallmarks of a significant copper-nickel discovery, and the identification of new conductors at Bayan Sair and Copper Ridge points to a district-scale opportunity. We're systematically de-risking what could be one of Asia's next major magmatic sulphide systems." – Gan-Ochir Zunduisuren, Managing Director

Deeper Mineralisation at Satellite Targets

The company reported encouraging results from its MS1 prospect, where drillhole SC11 intercepted:

• 29.6 metres of disseminated sulphide mineralisation at depth, including three distinct zones:
  • 9.7m of mineralisation from 215.3m
  • 2.7m from 279.1m
  • 17.2m from 399.0m

This discovery highlights potential for stronger mineralisation in deeper zones of the MS1 intrusion, with downhole EM surveys indicating off-hole conductors that warrant follow-up drilling.

New High-Priority Electromagnetic Targets

The exploration program has identified compelling new targets beyond the main Oval discovery:

• Bayan Sair Tenement: Recently completed electromagnetic surveys identified a conductor plate (LP801_P1) with a conductance of 294 Siemens, coincident with a large magnetic anomaly
• Copper Ridge Prospect: A high-conductance MLEM plate (10,534 Siemens) has been modelled along the margin of a strong magnetic anomaly

These coincident geophysical signatures are characteristic of magmatic sulphide deposits and represent high-priority drilling targets in the upcoming Phase 4 program.

Understanding Magmatic Sulphide Systems: Why It Matters for Investors

Magmatic sulphide deposits like those at Yambat typically form when metal-rich magma intrudes into sulphur-rich country rock. The interaction creates conditions where copper, nickel, and PGE metals can concentrate into economically significant deposits.

The identification of high-conductance electromagnetic plates is particularly significant for investors, as these represent potential accumulations of electrically conductive massive sulphides. The conductance values (measured in Siemens) provide insight into the potential size, quality, and continuity of mineralisation – with values above 5,000 Siemens generally considered excellent exploration targets.

Asian Battery Metals' systematic approach, using both surface and downhole EM surveys, has proven effective in locating and extending mineralisation at Oval, while also identifying new targets across their expanded land package.

Upcoming Catalysts and Timeline

The company has outlined several near-term activities that should provide news flow for investors:

• Ongoing due diligence drilling at the Maikhan Uul Cu-Au VMS project ahead of potential acquisition
• Continued interpretation of SAMSON FLEM results at the new Bayan Sair tenement
• Pending assay results expected within two weeks
• Completion of mineralogy studies on three composite samples
• Initial metallurgical testing to recommence following mineralogy study

Investment Thesis: Building a Critical Metals Portfolio in Strategic Location

Asian Battery Metals presents a compelling investment case as a focused explorer with several key advantages:

1. Strategic Mineral Portfolio: The company is building a diversified portfolio of copper, nickel, PGE, lithium and graphite assets – all critical minerals essential for the energy transition
2. Mongolia Advantage: Operating in Mongolia provides proximity to key Asian battery manufacturing markets while offering a stable mining jurisdiction
3. Systematic Exploration Approach: The company's methodical use of geophysics followed by targeted drilling has delivered consistent success in expanding mineralisation
4. Multiple Growth Pathways: Beyond Oval, the company has identified several satellite prospects and is evaluating acquisition opportunities like Maikhan Uul

Why Investors Should Follow Asian Battery Metals

Asian Battery Metals Oval project represents an emerging opportunity in the critical minerals sector at a time when demand for battery metals continues to grow. The company has demonstrated a clear pathway to expanding its Oval discovery while systematically testing new targets across its expanded land package.

For investors seeking exposure to copper-nickel exploration, AZ9 offers:

• A growing discovery: The Oval system continues to expand with each phase of drilling
• District-scale potential: New electromagnetic conductors highlight opportunities beyond the initial discovery
• Multiple catalysts: Ongoing drilling, pending assays, and metallurgical studies provide near-term news flow
• Strategic positioning: Mongolia offers excellent access to Asian markets for critical minerals

With a systematic exploration approach and strong technical team, Asian Battery Metals is positioning itself to capitalise on the growing demand for battery metals in the Asian market.

Ready to Tap Into Mongolia's Next Major Cu-Ni Discovery?

For investors seeking exposure to a rapidly expanding copper-nickel system with district-scale potential, Asian Battery Metals (ASX: AZ9) offers a compelling opportunity. The systematic expansion at Oval, combined with high-conductance targets at Bayan Sair and Copper Ridge, positions AZ9 at the forefront of critical minerals exploration in Asia. To learn more about their strategic Mongolia-based portfolio and upcoming catalysts, visit www.asianbatterymetals.com for detailed investor information.