Askari Metals Revises JORC Exploration Target for Burracoppin Gold Project
AS2 (AS2) Share Update July 2024 Thursday 4th
Askari Metals Revises Burracoppin Gold Project Announcement
Askari Metals Limited (ASX: AS2) has issued a revised announcement regarding the JORC (2012) Exploration Target for its 100%-owned Burracoppin Gold Project, located in Western Australia.
Instant Summary:
- Revised announcement includes Competent Person Statement.
- Future exploration plan provided for Burracoppin Gold Project.
- JORC (2012) Exploration Target removed from headline and highlights section.
Revised Announcement Details
Askari Metals Limited (ASX: AS2) has released a revised version of its announcement concerning the JORC (2012) Exploration Target for the Burracoppin Gold Project. The original announcement, dated 4 July 2024, lacked a Competent Person Statement, which is now included in the revised version.
In compliance with ASX Listing Rules, the Company has also removed the JORC (2012) Exploration Target from the announcement headline and highlights section. All other information contained in the original announcement remains unchanged.
Future Exploration Plans
The revised announcement outlines future exploration plans for the Burracoppin Gold Project. These plans include infill drilling around known mineral resources, depth extension drilling, and exploratory drilling on other target areas. The exploration upside has been further enhanced with the recent acquisition of E70/6127, situated north of the core Burracoppin project licence E70/5049.
Project Background
The Burracoppin Gold Project is located in Western Australia's Wheatbelt region, approximately 15km west of the Edna May Gold Mine. The project boasts a JORC (2012) Mineral Resource Estimate of 1.32Mt @ 1.52g/t Au for 64,600oz contained gold, using a 0.85 g/t Au cut-off grade.
Askari Metals has defined a significant JORC (2012) Exploration Target for the project, with estimates ranging from 8.212Mt to 11.121Mt at an average grade of between 0.67g/t Au and 0.91g/t Au, translating to 176,000oz to 323,000oz of gold.
The inclusion of the Competent Person Statement and removal of the JORC (2012) Exploration Target from the headline and highlights section ensures compliance with ASX Listing Rules, which may enhance investor confidence in the company's adherence to regulatory standards. The detailed future exploration plans indicate a strategic approach to resource expansion, potentially increasing the project's value and positively impacting the company's stock.
Investor Reaction:
Investors and analysts have reacted positively to the revised announcement, appreciating the company's commitment to regulatory compliance and detailed future exploration plans. The potential for increased mineral resources and the strategic acquisition of additional licences have been noted as positive developments.
Conclusion:
Investors should keep an eye on Askari Metals' progress with its Burracoppin Gold Project, particularly the upcoming exploration activities. The company's strategic approach to resource expansion and regulatory compliance could result in significant value addition. Stay tuned for further updates and detailed results from the exploration efforts.