Askari Metals (ASX: $AS2) announces successful completion of Red Peak auger drilling campaign

Askari Metals Limited (ASX: $AS2) has successfully completed an auger drilling campaign at its 100%-owned Red Peak Project in the Gascoyne Region of Western Australia. The campaign involved the collection of 801 auger drilling samples on a 500m X 500m grid, with the assay results demonstrating significant and high-grade Rare Earth Element (REE) mineralisation for both 'light' and 'heavy' REE groups.

Managing Director, Mr Gino D'Anna, comments on the assay results

The results of the auger drilling campaign at Red Peak have provided a significant number of high-grade REE mineralised surface results with notable high maximum results achieved by some metals like Cerium, Samarium, Gadolinium and Europium. This dataset has identified areas to focus on more closely with a follow-up infill auger drilling sampling campaign. Rare Earth Element exploration requires an in-depth knowledge of the host lithology and how the REE's can be liberated. The Company is proposing to conduct more detailed work focusing on REE liberation and will engage suitable industry experts to advance the project. Askari looks forward to defining the REE potential of the Red Peak project and evaluating future exploration activities, updating our shareholders as our exploration activities continue.

Summary of Red Peak auger drilling campaign and future exploration plans

The auger drilling campaign at the Red Peak Project has revealed significant and high-grade Rare Earth Element mineralisation, with notable results for both 'light' and 'heavy' REE groups. The Company plans to follow up this project-wide campaign with a 250m X 250m infill auger drilling grid to further define the REE potential of the project. The assay analysis covered the full suite of Rare Earth Elements (REE), and the data demonstrated the potential for identifying potential Niobium mineralisation utilizing similar techniques to those adopted nearby at the Mt Clere project. Askari Metals is committed to evaluating future exploration activities and updating shareholders as the exploration activities progress.