Askari Advances Gold and Copper Exploration in Ethiopia

Askari Metals is advancing a well funded exploration and development strategy in Ethiopia, with a maiden drilling programme planned at its Nejo gold project and a broader regional push targeting both gold and copper. The company’s approach reflects growing confidence in the geological potential of its Ethiopian portfolio, supported by active in country engagement and a regulatory environment that management describes as supportive of responsible exploration.

At the Nejo gold project, Askari is preparing for a phased drilling campaign designed to systematically test priority targets. The overall drilling proposal totals 20,000 metres to be completed in stages, with the initial Phase 1 programme expected to comprise up to 5,000 metres. Drilling will focus on near surface, high grade gold targets across key prospects including Guji, Komto 1, and Komto 2. Preparatory work is already underway, with drilling logistics, camp construction, and environmental permitting progressing in parallel.

Beyond Nejo, Askari is expanding its exploration footprint to include copper focused targets, particularly at the Katta area. Planned follow up work includes geophysical surveys, detailed geological mapping, and systematic sampling aimed at defining high grade copper zones for future drilling. This dual commodity strategy allows the company to leverage Ethiopia’s underexplored mineral potential while maintaining exposure to both precious and base metals.

Active exploration is also continuing across the wider Guji Gudeya and Guliso gold trends, where Askari is working to refine targets through a combination of airborne and ground based geophysical surveys. These programmes are intended to improve geological understanding and prioritise drill ready targets across multiple prospective structures, supporting a pipeline of exploration opportunities beyond the initial Nejo drilling.

Financially, Askari remains well positioned to execute its plans, holding approximately 3.2 million dollars in cash and assets available for sale. This funding base supports ongoing programmes in both Ethiopia and Namibia, providing flexibility as exploration advances. Looking ahead, continued progress at Nejo and across the broader Ethiopian portfolio could strengthen Askari’s position within East Africa’s emerging gold and copper sector. Successful discoveries would not only enhance the company’s asset base but could also contribute to Ethiopia’s efforts to diversify its mining industry and attract further investment into the sector.

Mini-Glossary

• Maiden drilling programme: The first drilling campaign conducted on a project to test identified targets.
• Near surface mineralisation: Mineral deposits located close to the ground surface, often cheaper to explore and develop.
• Geophysics: Techniques that measure physical properties of the earth to help identify subsurface structures and mineralisation.
• Prospective trends: Geological zones considered favourable for hosting mineral deposits.
• Environmental permits: Regulatory approvals required before exploration or drilling activities can commence.

Editor: Vural Burç ÇAKIR