Asian Battery Metals to spin the bit after completion of Red Hill acquisition

• Asian Battery completes acquisition of Red Hill copper-gold project.
• Diamond drilling to test untested DHEM plates is now lined up for next week.
• Metallurgical test work to be undertaken too.

Asian Battery Metals (ASX: AZ9) is fast-tracking drilling at the Red Hill copper-gold project after successfully completing the acquisition of the Mongolian asset, having already mobilised a rig while other supporting logistics are well advanced, and with drilling due to commence next week.

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The company’s MD, Gan-Ochir Zunduisuren, said finalisation marks a major milestone in the company’s strategy to expand its portfolio of high-potential mineral assets.

“This marks a major milestone in the company’s strategy to expand its portfolio of high-potential mineral assets in Mongolia,” Mr Zunduisuren said.

He said Red Hill, known locally as “Maikhan Uul,” strengthens Asian Battery’s position at a time of growing global demand for copper and gold, both critical to energy transition technologies and economic development.

“The project is located just eight km from the multi-element project and complements our existing asset base and provides an exciting opportunity to unlock value and synergy for potential future combined development. We look forward to commencing our 2026 exploration activities very shortly and delivering results for our shareholders,” Mr Zunduisuren said.

Asian Battery has an active forward work program in the first half of CY26 across its base and precious metal portfolio, including the 1500-metre program at Red Hill with RC drilling targeting the gold mineralisation zone and diamond drilling to test untested DHEM plates and investigate an interpreted feeder zone.

The company will also undertake rock chip sampling to assess surface mineralisation to verify historical trench copper grades. A geophysics campaign of an induced polarisation (3DIP) survey and interpretation, and downhole EM (DHEM) surveys is planned for selected drillholes in May.

Metallurgical test work will also be undertaken at ALS Laboratories in Perth following completion of drilling, the company told shareholders today.

Elsewhere at Asian Battery’s Yambat project, the company is undertaking a 3DIP survey over the Copper Ridge prospect, an IP survey over areas of interest for regional VMS mineralisation, and regional geophysical surveys (MT or CSAMT) across the MS1, MS4 targets and the Bayan Sair tenement.

Phase four drilling to test updated FLEM and DHEM plates and to evaluate constrained geophysical models incorporating petrophysical properties will follow.

AZ9 is down -13%, to 2.0¢. Mkt cap $997.3K.

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