Battery metals explorer and developer Askari Metals has expanded its portfolio with the acquisition of the Nejo Gold Project in Ethiopia, in partnership with Xingxu Mining International Investment. This strategic acquisition grants Askari access to a high-potential asset located within the highly prospective Arabian-Nubian Shield, a region renowned for hosting world-class gold deposits.
The Arabian-Nubian Shield spans across several gold-rich countries including Egypt, Sudan, Eritrea, Ethiopia, Saudi Arabia, and Yemen. The Nejo Gold Project is situated within this prolific geological province and lies along the same greenstone belt as the 3.4-million-ounce Kurmuk Mine, which has a targeted production rate of 290,000 ounces per year. Additionally, the project includes mineralised extensions of the 1.7-million-ounce Tulu Kapi deposit, further underscoring the potential for significant resource discovery.
Extensive historical exploration across the Nejo tenement has revealed strong indications of high-grade gold mineralisation, with multiple targets showing wide intercepts and excellent grades. However, large portions of the project area remain underexplored, offering substantial upside for further resource definition and discovery.
“This transformational acquisition represents an outstanding opportunity for Askari to establish a strong position in one of Africa’s most exciting gold provinces,” said Askari Executive Director Gino D’Anna.
“Nejo ticks all the boxes we look for in a flagship asset – scale, high-grade potential, confirmed mineralisation, and strategic location near major gold operations. With a large-scale landholding, significant historical data, and defined targets, we are well-positioned to rapidly advance Nejo toward a maiden JORC-compliant resource.”
The acquisition signals a new growth phase for Askari, with the potential to deliver significant value to shareholders through resource definition and exploration success in a globally recognised gold district.
