Transcription of The Stock Network Interview with Asian Battery Metals (ASX:AZ9) Managing Director, Gan-Ochir Zunduisuren
Lel Smits: Asian Battery Metals is a mineral exploration business seeking to unlock the vast potential for critical battery minerals in Mongolia. The company’s exploration efforts are heating up after recently unveiling a significant copper and nickel discovery at the Oval Prospect, located within its wholly owned Yambat project. Asian Battery Metals Managing Director, Gan-Ochir Zunduisuren joins me to discuss more. Gan, welcome to The Stock Network.
Gan-Ochir Zunduisuren: Great to be here, Lel.
Lel Smits: Now, Mongolia lies at the doorstep of the world’s largest electric vehicle battery market in China, and you recently unveiled your exciting copper and nickel discovery at Oval. Can you tell us how the mineralized system at Oval is taking shape?
Gan-Ochir Zunduisuren: Well, it’s an early stage of discovery. It’s a copper nickel sulfide system, which is, you know, greatly used in battery technology and components. And being in a doorstep of China, in Mongolia, in underexplored jurisdiction, it gives us, you know, great opportunity and upper hand in succeeding to continuing our current success in the exploration to the future.
So we have, this is the project we actually received BHP Explore Fund in 2023. So we have received $500,000. Then using that fund, we actually made the initial discovery.
And last year we actually encountered quite exceptional, consistent, high-grade intercepts in our drilling. And this year’s drilling is actually progressing now.
Lel Smits: Excellent and Gan, you recently raised about $4 million in a heavily oversubscribed placement to support your exploration works in Mongolia. Can you outline what the funds are going to be allocated towards?
Gan-Ochir Zunduisuren: Of course, the key part for us now is we have this, you know, a high-grade exceptional mineralization with current, currently in our Oval Gabroic intrusion, but we have larger tenement.
The tenement size is 100 square kilometers. And within that tenement, we do have a number of different targets outside Oval and also in regional targets, including Copper Ridge, also new discovery we made last year. So we’re going to be really trying to evaluate our full mineral system, how, you know, the mineralization is positioned in a particular area and try to understand the bigger picture first.
Lel Smits: Excellent. Well, thank you so much for the update on the company and look forward to following those exploration developments this year.
Gan-Ochir Zunduisuren: Thank you, Lel, again.
Ends