Askari Metals (ASX:AS2) logged a 12.5% growth following the announcement of high-grade polymetallic assay results from its 100%-owned Uis Project in Namibia.
The Phase 1 trenching program at the OP Pegmatite Target has confirmed a continuous, large-scale mineralised system stretching across a 2.2-kilometre trend.
The results validate historical exploration data and reveal concentrations of tin, lithium, tantalum, and rubidium, with peak tin grades reaching 8,340 ppm and lithium oxide levels hitting 0.57%.
The trenching, conducted at 40-metre intervals, showed mineralisation widths between 15m and 30m, providing a robust dataset for the company's upcoming reverse circulation drilling campaign scheduled for the second half of 2026.
Executive Director Gino D’Anna highlighted the strategic importance of the find, noting that while the project sits adjacent to the operational Uis tin mine, its broader polymetallic potential has long been overlooked.
With lithium assays consistently exceeding standard cut-off grades and tin prices hovering near US$46,000 per tonne, the economic outlook for the asset has strengthened.
The project benefits from its proximity to established infrastructure, including the Walvis Bay deepwater port located just 230km away.
As Askari awaits further assays from the PS and K9 targets later this month, the company remains on a fast-tracked path toward defining a maiden resource.
At the time of reporting, Askari Metals' share price was $0.0090.