Asian Battery Metals PLC has reported encouraging results from its Phase 3 drilling program at the Oval copper‐nickel discovery in its Yambat Project in Mongolia. The company noted that further massive sulphide mineralisation has been intercepted well down dip from earlier results, suggesting an 800‑meter long zone of shallow mineralisation extending between the North Oval and Oval areas. Drillhole OVD036, for instance, intercepted 2.0 meters of massive sulphide along with varied intervals of disseminated mineralisation, while OVD040 confirmed strong continuity by returning 6.9 meters of massive sulphide from a depth of 95.5 meters. Additional drillholes, such as OVD038 and OVD039, verified the presence of shallow gabbroic rock that could link the two zones. The announcement also highlights the use of advanced deep penetrating ground electromagnetic surveys referred to as Samson EM. These surveys, set to commence from Australia, are designed to refine target areas and uncover further anomalies. The drilling strategy has been supported by the low cost of operations in Mongolia, which helps the company maintain a strong balance sheet as it prepares for the next phase of work. Although assay results from Phase 3 drilling remain pending and are expected from June 2025 onward, the initial drill data and updated geophysical modeling add substantial weight to the ongoing exploration efforts. Technical details provided in the release are thorough. The drillholes have been designed to test multiple conductive plate models and validate the continuity of the massive sulphide intercepts. For example, the integration of advanced downhole electromagnetic modeling using proprietary Provus software has refined the interpretation of ribbon-like conductor targets, leading to the identification of Ribbon‑1, which shows promising alignment with previously interpreted plates. The drilling program, which has completed 16 diamond drillholes totaling nearly 3,000 meters, is now temporarily paused to allow for the new Samson EM survey data to guide further drilling decisions. Bullish sentiment arises from the promising drill intercepts that extend known mineralisation zones, the linkage between the North Oval and Oval areas, and the application of advanced geophysical surveying techniques that could further expand the target area. The low operational costs in Mongolia and the company’s robust balance sheet underpin the potential to quickly fund and advance further exploration, making it attractive for investors looking for upside in exploration plays. On the other hand, bearish considerations include the fact that final assay results are still pending, meaning that the actual grades and economic viability have yet to be confirmed. Additionally, while the geophysical data and drill intercepts are promising, the inherent uncertainties associated with early-stage exploration remain, and the success of further drilling campaigns will depend on the interpretation of forthcoming survey data and assay outcomes.