Australasian Metals (ASX:A8G) discovers significant gallium levels

Australasian Metals Limited (ASX:A8G) has announced the discovery of significant levels of gallium (Ga) and germanium (Ge) within the May Queen South Bauxite resource in Queensland. The project, with a JORC (2012) Inferred Mineral Resource Estimate of 54.9Mt, has returned elevated gallium results averaging 67.59 g/t Ga over 12 random samples, with an assay high of 145.5 g/t Ga. The project is strategically located within close proximity to existing rail infrastructure with connections to the Port of Bundaberg.

Executive Commentary on Gallium Discovery

A8G Managing Director Dr Qingtao Zeng expressed excitement about the discovery, stating, 'High gallium grades at surface from our May Queen South Bauxite project has presented some very exciting possibilities for the Company. We believe that for a very low cost we will be able to add Ga into the bauxite mineral resource estimate which will significantly upgrade the overall value of the deposit. With surging demand for Gallium from industrial users in China, Japan, and South Korea, and significant price rises for the metal we feel that the timing could not be better for this development.'

Summary of Gallium Discovery and Outlook

Australasian Metals' discovery of significant gallium levels within the May Queen South Bauxite resource marks a promising development for the company. The surge in gallium prices, driven by increased demand in the electronics and semiconductor industries, presents a favorable market environment for the company's find. With China currently dominating the global gallium market, the discovery of elevated gallium levels in the project holds the potential to significantly upgrade the overall value of the deposit. The company's next steps involve re-analyzing samples to determine and estimate the gallium and germanium resources within the existing Mineral Resource estimate. Additionally, the company is actively reaching out to potential partners and end users, leveraging its strong network in the downstream processing and product offtake space in Asia. This discovery aligns with the company's ambitions to capitalize on the growing demand for gallium and underscores its strategic positioning in the market.