Kaoko Metals fast-tracks maiden drilling after strong exploration start

Kaoko Metals (ASX:KAO) has moved quickly from IPO to active exploration, with maiden diamond drilling at its Chalkos Copper Silver Project set to begin after a busy first quarter as an ASX-listed company.

Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.

The explorer listed on the ASX on May 7, after raising $6.5 million before costs at $0.20 per share and completing the acquisition of a 100% interest in the Chalkos Copper Silver Project while settling the earn-in for the Karibib Gold Copper Tungsten Project in Namibia.

Field programs commenced immediately after listing across both projects, with structural geological work completed at the priority Donkey Hill and Otniel prospects at Chalkos to refine drill targeting.

Following quarter end, Kaoko announced the discovery of new outcropping copper mineralisation at the newly named Bootless prospect, while further extensions were identified at both Otniel and Donkey Hill.

Kaoko has since awarded its maiden drilling contract at Chalkos to Optimine Exploration & Drilling Namibia. The initial program will comprise approximately 2,000 to 3,000 metres of diamond drilling targeting the Donkey Hill and Otniel prospects, with mobilisation expected within one to two weeks of the contract award.

Managing Director Gerard O’Donovan said the June quarter marked a defining period for the company as it transitioned from listing to becoming an active explorer.

He said the company had strengthened its understanding of the copper system at Chalkos while confirming the polymetallic potential of Karibib, adding that drilling now represented the next major catalyst.

Looking ahead, Kaoko’s immediate priorities include commencing maiden drilling at Chalkos, geological logging and laboratory analysis of drill core, while continuing regional geochemical sampling at Karibib to generate additional drill-ready targets.

At 30 June 2026, the company held cash and cash equivalents of $5.23 million, having spent approximately $245,000 on exploration and evaluation activities during the quarter.

KAO is trading at $0.52/share.

Join the discussion: See what HotCopper users are saying about Kaoko Metals and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.