Askari Metals retracts gold risk claim as it prepares JORC-compliant drilling at Nejo

An announcement from Askari Metals Limited ( (AU:AS2) ) is now available.

Askari Metals has issued a clarification regarding historical exploration results and statements made in a recent presentation tied to its Nejo Gold and Copper Project in Ethiopia. The company reaffirmed the accuracy of previously released historic drilling data but retracted a slide statement implying minimal geological risk and proven high-grade gold mineralisation, citing that the historic results have not yet been reported under JORC (2012) standards.

The explorer detailed that recent fieldwork in late 2025 has verified drill collar locations and informed the design of an initial 5,000m diamond core drilling campaign at key targets, for which final regional approvals are still pending. Once underway, this program is expected to validate the historic drilling in a JORC-compliant manner, potentially strengthening confidence in the project’s geology and supporting the company’s broader strategy to advance its Southern African asset portfolio.

The most recent analyst rating on (AU:AS2) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Askari Metals Limited stock, see the AU:AS2 Stock Forecast page.

More about Askari Metals Limited

Askari Metals Limited is a Southern Africa-focused exploration company with a flagship Nejo gold and copper project in Ethiopia, an advanced-stage brownfields asset on the Arabian-Nubian Shield near major regional gold mines. The company is also progressing its Uis Lithium Project in Namibia, located close to the operating Uis Tin-Tantalum-Lithium Mine and key export infrastructure, and counts Huayou Cobalt as a supportive strategic shareholder.

Average Trading Volume: 2,593,476

Technical Sentiment Signal: Sell

Current Market Cap: A$9.24M

For a thorough assessment of AS2 stock, go to TipRanks’ Stock Analysis page.