Askari Metals


Primary ticker: ASX:AS2, FSE:7ZG
Stage of development: Exploration
Primary minerals: Lithium, Copper, Gold
Project to promote: Uis Lithium-Tantalum Project, Eastern Pilbara Lithium Portfolio
Project location: Australia, Namibia

Askari Metals is developing the flagship Uis Lithium Project, located in Namibia, Africa. The Uis Project sits strategically along strike of the operating Uis Mine owned by AfriTin Mining plc and is located less than 230 km from the deep-water port of Walvis Bay by all-weather sealed roads. High-grade lithium, tin and tantalum mineralisation has been identified on surface in outcropping pegmatites and the Company has recently completed its Phase I RC drilling program of ~3,000m as part of an overall 10,000m RC drilling campaign with the aim of delineating a maiden JORC (2012) resource by the middle of 2023.

Cash: AUD$2M
Debt: NIL

Major shareholders:
10 Bolivianos – 11.39%
Gino D’Anna – 11.14%
Management Ownership – 12.1%

Management Profile

Gino D’Anna – Executive Director
Executive Director and Founder of Askari Metals. More than 15 years of corporate and natural resources experience. Significant understanding of resource project development from exploration to feasibility studies.

Johan Lambrechts – VP Exploration and Geology
VP Exploration and Geology for Askari Metals. More than 20 years of experience and possesses significant expertise across resource discovery, mineral exploration, mine development, technical and financial studies, mine construction and production.

What is your rationale for taking part in 121 Mining Investment?

We are seeking to grow our investor network and attract new buyers of our shares.

What recent news would you like to highlight to investors attending?

14 December 2022 – Completion of the Phase I RC drilling program at the Uis Lithium Project

5 December 2022 – Expansion of the Landholding of the Uis Lithium Project

25 October 2022 – Acquisition of the Uis Lithium Project

16 November 2022 – High-grade Spodumene identified at Uis Lithium Project

3 March 2022 – Phase II exploration completed at Barrow Creek Lithium Project

1 March 2022 – Reconnaissance program completed at Yarrie Lithium Project

17 February 2022 – Major Li targets identified at Yarrie Lithium Project

10 February 2022 – LCT Pegmatites confirmed at Barrow Creek Lithium Project

12 January 2022 – High grade copper identified at Horry Copper Project

14 October 2021 – Phase I drilling assay results at Burracoppin Gold Project

What are your key goals for the next 3, 6 and 12 months?

3 Months:
Re-commencement of field work at the Uis Lithium Project
Assay results from the Phase I RC drilling at the Uis Lithium Project
Phase II drilling at EPL7345 Uis Lithium-Tantalum Project
Phase I drilling at EPL8535 Uis Lithium-Tantalum Project

6 Months:
Resource delineation at Burracoppin Gold Project
Field mapping and sampling programs on all Namibian projects.
Soils auger program at Myrnas Hill (Li – Au) to be continued.
Soils auger program at Red Peak – (REE)
Soils auger program at Callawa – Cu-Ni
Granting of the Yarrie tenure

12 Months:
Continued drilling (four phases – 12,000 – 20,000m) and field work on the Namibian assets.
Commencement of activities at Yarrie post grant.
Continue exploration activities on the Australian Li assets (Myrnas Hill, Hillside, Barrow Creek) based on exploration results and planned future activities.
Divestment of gold and copper assets to create Li focused company (Askari “Lithium”)
Resource delineation at the Uis Lithium Project

What do you think makes your company such a compelling investment?

We are aggressive explorers with premium lithium-tin-tantalum projects ~2km from an active tin-tantalum-lithium mine (AfriTin – Uis Mine -71.54Mt @ 0.63% Li2O, 0.134% Sn and 85ppm Ta) in a stable African jurisdiction (Namibia – 2nd best geopolitical jurisdiction in Africa). Our Namibian projects boast visible lithium-tin-tantalum mineralisation and rock sample results with economic grades (3.1% Li2O, 1.3% Sn and 658ppm Ta) derived from multiple pegmatites outcropping across the tenure, which is less than 230km from a deep-water port. We are aggressively exploring these battery metal assets with 10,000 -20,000m of drilling planned for 2023 across all the Namibian tenure (NOTE: 3,000m RC drilling already completed in November 2022). Our portfolio is further supported by Australian tenure including the district-scale Yarrie project portfolio and the Myrnas Hill and Hillside projects.

What are the top 3 key investor takeaways?

High-grade lithium, tin and tantalum mineralisation in the safe operating jurisdiction of Namibia, ranked as the 2nd most favorable jurisdiction in Africa by the Fraser Institute.
Focused lithium exploration and development company leading the lithium charge in Namibia
Strong newsflow from continued and sustained exploration activities