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ASKARI METALS LIMITED

High Grade Lithium, Copper and Gold Exploration

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Yarrie Lithium Project The Yarrie Lithium Project is a district-scale lithium exploration opportunity located in the eastern Pilbara lithium hotspot adjacent to and along strike of significant and growing hard-rock lithium deposits. Due to its favourable location and underlying geology, the Yarrie project is considered highly prospective for hard-rock lithium mineralisation in pegmatites. The Yarrie Lithium Project comprises nine exploration licenses covering more than 1,700 km2 in the eastern Pilbara lithium hotspot, approximately 50km northeast of Marble Bar, Western Australia. The Company has generated a targeted “lithium-exploration” model for the project, providing focus within this district-scale opportunity where dedicated lithium exploration can be conducted. A review of the key geological structures present at the Yarrie Lithium Project has revealed several structures and geological formations which may have acted as potential conduits for lithium-bearing mineralising fluids.
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Barrow Creek Lithium Project The Barrow Creek Lithium Project (BCL Project) is located in the Northern Arunta Pegmatite Province of Central Northern Territory. The BCL Project is located within 20 km of the Central Australia Railway line, which links Darwin and Adelaide, thereby providing additional transportation options for the future development of the BCL Project. The project covers 278km2 within the highly prospective Northern Arunta Pegmatite Province, known for hosting extensive pegmatites and is highly prospective for Spodumene dominated hard-rock Lithium mineralisation. The BCL Project is surrounded by tenements owned by Core Lithium Limited (ASX: CXO) and Lithium Plus Minerals Limited (ASX: LPM) and is proximal to several known Lithium-Tin-Tantalum occurrences. These also share similar geological settings with the BCL Project. Highly fractionated pegmatites have been mapped and documented in government reports in this region, but limited exploration has been undertaken on the BCL Project area. The project’s location, its under-explored nature and the numerous mineralised occurrences nearby point to significant exploration upside for the BCL Project.
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ASX : AS2

Last updated 2022-06-30

Gold Price (A$ per ounce) 2,647.54

Copper Price (A$ per pound) 5.50

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MT MAGUIRE Gold and Base Metal Project The Mt Maguire Gold and Base Metal Project is located in Western Australia, has been historically explored with extensive gold mineralisation identified in drilling, including 31m @ 0.84g/t Au from 20m including 1m @ 6.74g/t Au from 25m. The Mt Maguire Gold and Base Metal Project is located along strike of Kalamazoo Resources Limited (ASX: KZR) Ashburton Project. The town of Paraburdoo is located approximately 10km to the north, while Newman is around 200km to the east. Access is by station tracks from the Nanutarra-Wittenoom Road.
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Horry Copper Project, WA COPPER PROJECT The Horry Project is located in the north-eastern area of Western Australia. The Horry Copper Project boasts high grade Cu-Au-Ag gossanous mineralisation up to 60m long and 2.4m wide, however, broader mineralization exists over 7.4m width and 900m along shear zone with high-grade rock chip results identified on surface. The Horry Copper Project lies within the strongly deformed and mineralised Halls Creek Mobile Belt bounding the eastern edge of the Kimberley Craton – highly prospective high-grade copper-gold mineralisation with a broader low-grade copper-gold porphyry system. The Horry Copper Project is located along strike of the Halls Creek Copper Project owned by Cazaly Resources Limited (ASX: CAZ) which has reported high-grade drilling intersections including 64m @ 2.72% Cu (1.13% Zn), 62m @ 2.41% Cu (2.75% Zn), 37m @ 2.63% Cu (6.05% Zn), 16m @ 5.91% Cu and 18m @ 2.53% Cu.
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BURRACOPPIN Gold Project The Burracoppin Gold Project hosts high-grade shallow gold intersections which have not been followed up with modern exploration techniques. The Burracoppin Gold Project is considered prospective for gold, nickel and platinum group elements (PGE). The Burracoppin Gold Project is located approximately 20km east of Merredin and 15km west of the Edna May Gold Mine.
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CALLAWA COPPER PROJECT The Callawa Copper Project is located in Western Australia and hosts high-grade rock samples on surface which have not been adequately followed up with further exploration. The Callawa Copper Project covers granitic rocks untested for porphyry style mineralisation. Surface sampling has returned assay results of up to 28.7% Cu in altered granite, with elevated gold values, supported by other surface samples of 19% Cu, 9.4% Cu, 7.63% Cu and 2.68% Cu. A series of small shallow pits are spread over about 40m. The Callawa Copper Project contains over 2km of prospective strike, located to the west of the Rio Tinto "Winu Copper Gold Discovery" and north-west of the large Nifty Copper Mine. The Callawa Copper Project demonstrates significant potential for a further copper-gold discovery within the Archean Warrawagine Granitoid Complex.
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SPRINGDALE Copper-Gold Project The Springdale Copper-Gold Project in New South Wales is located in the premier Lachlan Fold district and has been the subject of significant historic high-grade production. The Springdale Copper-Gold Project offers the Company exposure to a potential copper-gold porphyry style of mineralisation hosted within the Ordovician Volcanics and is strategically located in close proximity to the Temora Cu-Au Project owned by Sandfire Resources Limited (ASX: SFR).
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ASKARI METALS LIMITED

Askari Metals was incorporated for the primary purpose of acquiring, exploring and developing high-grade lithium, copper, gold and copper-gold projects in Western Australia, Northern Territory and New South Wales. The Company has assembled an attractive portfolio of lithium, copper, gold and copper-gold exploration/mineral resource development projects in Western Australia, Northern Territory and New South Wales. The Company has appointed a Board of Directors, management and technical team who possess experience operating in Western Australia, Northern Territory and New South Wales, across exploration, mining and strategic transactions, with strong technical, legal, and financial management skills. The Company is focused on delivering tangible results with a focus on the battery metals (Li + Cu) sector with its main objectives to aggressively explore its Barrow Creek Lithium Project in the Northern Territory and the Yarrie Lithium Project in Western Australia. High-grade copper exploration at the Horry Copper Project is also a focus of the Company.

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COMPANY ANNOUNCEMENTS

INVESTOR PRESENTATION
Focused Battery Metals and Gold Explorer

Askari Metals has assembled an attractive portfolio of copper and gold projects located in the stable, safe and mining friendly jurisdictions of Western Australia and New South Wales, Australia. Askari Metals is a focused domestic Australian copper-gold exploration company with projects located in low-risk areas with supportive communities and indigenous relations.

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CORPORATE GOVERNANCE

The Board of Directors is responsible for overseeing management of the Company, determining corporate strategy and approving all major acquisitions, financings and other significant corporate actions. Management is responsible for the Company’s day-to-day operations, proposing its strategic direction and presenting budgets to the Board and implementing the strategy approved by the Board.

The Board of Directors has established a number of policies, frameworks and statements including a Corporate Governance Framework, Code of Conduct Policy and Board Charter which sets out how the Board will function.


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