Askari Metals Ltd (ASX:AS2, FRA:7ZG) advanced preparations for maiden drilling at its flagship Nejo Gold-Copper Project in Ethiopia during the June 2026 quarter, while continuing to refine exploration targets at the Uis critical metals project in Namibia.
The quarter was primarily focused on technical planning, stakeholder engagement and target development ahead of a more active phase of field exploration across the company’s African portfolio.
At Nejo, Askari progressed plans to test historical high-grade mineralisation within a district-scale landholding in the Arabian-Nubian Shield. Meanwhile, work at Uis continued to build the case for further exploration targeting tin, tantalum and associated critical metals.
Nejo positioned for maiden drilling
The 1,174-square-kilometre Nejo project remains Askari’s principal growth asset and is positioned within a major gold and copper province in central-western Ethiopia.
Nejo surrounds the 1.7-million-ounce Tulu Kapi Gold Mine and lies along strike from the 3.4-million-ounce Kurmuk Mine, providing Askari with exposure to a proven but comparatively underexplored mineral corridor.
Historical drilling, trenching and geochemical programs have identified gold and copper mineralisation across several areas of the project, although much of the broader landholding has not been systematically tested using modern exploration techniques.
During the quarter, Askari continued to refine its understanding of the mineralised system and prepare for an initial drilling campaign focused on the Guji–Gudeya corridor.
Priority targets include Guji, Komto 1 and Komto 2, which collectively form an approximately 9-kilometre mineralised trend. The proposed drilling is intended to validate historical intersections, assess continuity and establish the geometry of the mineralised zones.
The company is also evaluating the separate 10-kilometre Guliso gold-copper trend and the Katta copper target in the northern part of the project.
Future drilling is expected to support a longer-term pathway toward a maiden JORC 2012 mineral resource estimate, subject to exploration results.
Stakeholder work supports operational readiness
Engagement with local communities, regional authorities and Ethiopian government stakeholders remained an important part of Askari’s preparations.
The company said this work was designed to support land access, responsible exploration practices and the efficient execution of future field programs.
Askari believes its established relationships and experience operating in Africa will assist the transition of Nejo from historically explored targets to systematic modern drill testing.
The forward program also includes mapping, sampling, trenching, geophysics and technical interpretation across the wider project, including the Guliso trend and Katta target.
Uis builds critical metals opportunity
In Namibia, Askari continued compiling and interpreting results from earlier trenching, mapping and sampling at the 380-square-kilometre Uis Project.
The project is directly along strike from Andrada Mining Ltd (AIM:ATM, OTC:ATMTF)’s operating Uis Tin Mine and provides exposure to tin, tantalum, lithium, caesium and rubidium within the Cape Cross–Uis pegmatite belt.
Previous exploration has confirmed high-grade tin and tantalum mineralisation across several pegmatite targets, with additional polymetallic potential.
Askari’s priority areas include the PS, DP, OP and K9 pegmatite targets within exploration licence EPL 7345, along with prospective extensions across EPL 7626 and EPL 8535.
The project benefits from year-round road access and proximity to established regional infrastructure, including the deep-water port at Walvis Bay, about 230 kilometres away.
Upcoming work is expected to include further soil and stream sediment sampling, compilation of trenching results and refinement of reverse circulation drilling targets.
Catalyst-rich exploration pipeline
Executive director Gino D’Anna said Askari was approaching a period of increased activity across its portfolio.
“Askari is entering a catalyst-rich period across its African portfolio. At Nejo, we have a district-scale gold-copper opportunity with multiple targets ready for drill testing. At Uis, we hold a strategic critical metals position in a proven Namibian pegmatite district,” he said.
“With near-term drilling, strong targets and clear exploration momentum, Askari is well placed to deliver meaningful news flow and unlock value for shareholders.”
Askari ended the quarter with approximately A$256,000 in cash and a further A$650,000 in listed securities available for sale.
The company also reported access to an undrawn A$350,000 working capital facility provided by D’Anna and related entities, subject to relevant approvals. Exploration and evaluation expenditure during the quarter totalled A$121,000.