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Australasian Metals Limited (ASX:A8G)

ALERT: Price-sensitive ASX Announcement for A8G
Current share price for A8G : $0.170 -0.005 (-2.86%)+
Announcement
Release
13 Oct 2026 9:37AM
Price at Release
$0.175
Full Release
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Summary
Australasian Metals Limited (ASX: A8G) announced progress at its Atex Lithium Project in Côte d’Ivoire, where it holds an exclusive option to acquire a 75% interest, with work advancing technical due diligence and preparations for the next exploration phase. The company reviewed historical 2022 diamond drill core and confirmed it was in good condition and securely stored, while 2024 RC drill chips were also verified as properly catalogued for later detailed inspection. A 120 kg spodumene-lepidolite pegmatite sample from Spodumene Hill was collected and, following export approvals from Côte d’Ivoire’s Ministry of Mines and Energy, dispatched to laboratories in South Africa and China for preliminary metallurgical test work. Priority auger drilling targets have been identified across the northern tenement based mainly on rubidium soil anomalies, with supporting lithium, niobium and some radiometric indicators, and access preparation is underway for a November start. At Spodumene Hill, drill pad and access planning for diamond drilling is progressing, with the existing borehole observed to be in workable condition. The company is also refurbishing camp and accommodation facilities, arranging geological contractors and technical mobilisation, and continuing community engagement, with village chiefs at Tounvre and Tindara supporting the recommencement of exploration and related local employment opportunities.
Key Points
  • ASX release dated 13 October 2026 provides an update on Australasian Metals’ Atex Lithium Project in Côte d’Ivoire.
  • Australasian Metals holds an exclusive option to acquire a 75% interest in the Atex Lithium Project.
  • Historical 2022 diamond drill core was inspected, found in good condition and securely stored.
  • Historical 2024 RC drill chips were also confirmed to be securely stored and properly catalogued.
  • A 120 kg spodumene-lepidolite pegmatite sample was collected from Spodumene Hill for preliminary metallurgical test work.
  • Export permits were granted by Côte d’Ivoire’s Ministry of Mines and Energy and samples were sent to laboratories in South Africa and China.
  • Priority auger drilling targets were defined in the northern part of the tenement where no historical subsurface exploration has been undertaken.
  • Targets are mainly based on rubidium soil anomalies with coincident lithium and niobium anomalies in some areas.
  • Access lines are being prepared ahead of an auger drilling program expected to commence in November.
  • Preparations for diamond drilling at Spodumene Hill include drill pad and access route development.
  • The existing drilling water supply borehole at Spodumene Hill was inspected and appears to remain in good condition.
  • Community leaders at Tounvre and Tindara expressed support for the recommencement of exploration and associated employment opportunities.
  • The company is refurbishing camp infrastructure, restoring water and electricity, and preparing office facilities.
  • Geological contractors and accommodation arrangements are being organised to support the next phase of field activities.
  • Immediate next steps include metallurgical test work, auger drilling, diamond drilling preparations, camp refurbishment and continued community engagement.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.