Asian Battery Metals PLC (ASX:AZ9) completes Maikhan Uul acquisition with drilling due to commence next week

Asian Battery Metals PLC has completed and settled the acquisition of the Maikhan Uul Copper Gold Project, with rig mobilisation and supporting logistics well advanced and drilling scheduled to commence next week.

Highlights

• Completion and settlement of the acquisition of the Maikhan Uul Copper-Gold Project.
• Project located 8km from the Yambat Oval Cu-Ni-PGE Project.
• 1,500m RC and diamond drilling program scheduled to commence within a week.
• RC drilling to target gold mineralisation zones and diamond drilling to test DHEM plates.
• Sampling, mapping, geophysics and metallurgical test work included in the first half 2026 work program.

The announcement states that the forward work program for Maikhan Uul in the first half of 2026 includes a 1,500m drilling program, with RC drilling scheduled to target the gold mineralisation zone and diamond drilling scheduled to test untested DHEM plates and investigate the interpreted feeder zone.

The announcement states that the work program includes rock chip sampling to assess surface mineralisation and verification of historical trench copper grades.

Geophysical surveys planned for May 2026 include a 3DIP survey and interpretation, with downhole EM surveys planned for selected drillholes, subject to results.

Metallurgical test work is to be undertaken at ALS Laboratories in Perth following completion of drilling in June 2026.

The announcement states that the Maikhan Uul Project is located in a prospective mineral belt and is prospective for copper and gold mineralisation, with historical exploration indicating encouraging geochemical and geophysical signatures as well as significant drill intercepts.

The announcement also states that the Company intends to advance the Project through systematic exploration and evaluation, with planned exploration works and sequencing subject to results of preceding activities.

Asian Battery Metals Managing Director Gan-Ochir Zunduisuren said,

“The completion and settlement of the Maikhan Uul acquisition represents a key step in our growth strategy. The Project is located just 8km from the Yambat (Oval Cu-Ni-PGE) Project, 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.”

The announcement states that the forward work program at the Yambat Oval Cu-Ni-PGE Project in the first half of 2026 includes geophysics from April to June 2026 and drilling from May to July.

This includes a 3DIP survey over the Copper Ridge Prospect, IP survey over areas of interest for regional VMS mineralisation, regional geophysical surveys across the MS1 and MS4 targets and the Bayan Sair tenement, phase 4 drilling to test updated FLEM and DHEM plates, and scout drilling at Copper Ridge Cu-Au in July.

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