Asian Battery Metals (AZ9) strikes again at Oval—but what’s really hiding in Mongolia’s mafic depths?

In a remote corner of Mongolia, a Perth based junior with an unassuming market cap is quietly stitching together one of the more intriguing copper-nickel stories of the year.

Asian Battery Metals (ASX:AZ9) isn’t just chasing rocks, it’s chasing relevance in a world where supply of critical minerals is now the frontline of global policy.

And its Oval discovery, part of the company’s Yambat Project, continues to turn heads underground.

The latest round of drilling has returned more hits of massive sulphide mineralisation across multiple holes, with intercepts hinting at a continuous, shallow mineralised corridor stretching 800 metres from North Oval to Oval itself.

Drillhole OVD040 was the standout, intersecting 6.9 metres of massive sulphide from 95.5 metres depth, north of a previous intercept bolstering confidence in the zone’s continuity.

Further downhole electromagnetic (DHEM) surveys and the start of a Samson EM campaign are poised to sharpen the target model.

If this all sounds methodical, that’s because it is.

The company isn’t pushing out hype it’s letting the rocks speak.

Managing Director Gan-Ochir Zunduisuren noted, “The latest drill results suggest a potential of 800 metre long zone of shallow mineralisation from North Oval through to Oval, with more massive sulphides intercepted in OVD036 and OVD040.”

Pending assays and advanced geophysics could soon tell whether that length is mineralised with commercial intent, or merely geologically fascinating.

Highlights

• OVD036 intersected 2.0m of massive sulphide 130m down-dip from previous hits
• OVD040 intercepted 6.9m of massive sulphide just 22m north of a prior hit
• OVD038 and OVD039 confirmed shallow gabbroic continuity between zones
• Samson EM surveys begin this month
• All assays are pending and expected from June onwards

The real point of difference here lies not only in the scale and geology of the discovery but also in the underlying economics, with Mongolia offering drilling costs so low they would make many Australian explorers blush.

This cost advantage means Asian Battery Metals can preserve capital while advancing exploration, with the rig already parked and ready to resume drilling as soon as new EM targets are defined.

The big question now: will the assays confirm what the visuals suggest?

If so, Asian Battery Metals might soon be navigating not just geological extensions, but strategic ones especially given copper and nickel’s growing role in US aligned supply chains.

And the upside?

If the ribbon style mineralisation model holds up especially the untested “Ribbon-2” conductor it could reshape investor expectations around this junior explorer’s footprint in the Central Asian orogenic belt.

For now, all eyes are on the lab and the Samson survey teams mobilising from Australia.

It’s early innings, but the Oval system is shaping up as more than just a curiosity. It might just be a contender.