May 3 , 2025
Askari Metals has acquired 100pc of Rift Valley Metals, gaining five gold exploration licences covering 460sqkm in Ethiopia’s Adola Greenstone Belt, part of the southern Arabian-Nubian Shield, a mineral-rich but underexplored region. "The exploration areas—Sakaro, Sakaro West, Lega Dembi South, Megado, and Wayu Boda—lie near Ethiopia’s top gold mines, including Lega Dembi and Sakaro, which have produced over three million ounces of gold. The area is known for orogenic gold systems hosted in quartz veins and shear zones." Askari recently raised 750,000 dollars to fund exploration. Executive Director Gino D’Anna called the Adola Belt one of the last mineral-rich frontiers with multi-million-ounce potential. The company is also reviewing additional advanced gold assets in Ethiopia as it works to build a tier-1 portfolio. The acquisition gives Askari a first-mover position in a region long dominated by artisanal mining and limited modern exploration.
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