Azure Minerals advances on its nickel and gold assets
- Azure Minerals delivers some of Andover’s highest-grade nickel-copper sulphide to date
- Azure Minerals has 60% of a nickel/copper discovery that should progress to a long life mine: Far East Capital
- Azure Minerals says Andover shaping up to be 'substantial' stand-alone project
Quick facts: Azure Minerals Ltd
Price: 0.325 AUD
Market Cap: $100.5 m
About the company
Azure Minerals Ltd (ASX:AZS) has majority or sole ownership of five nickel and gold projects in Western Australia.
The company's portfolio also includes two advanced-stage, development-ready precious and base metals projects in Mexico.
How it is doing
Promisingly, ongoing drilling continues to intersect shallow nickel-copper sulphide mineralisation, with recent assay results confirming continuity of thickness and grade of mineralisation.
Results are in line with, and in some cases exceeding, the company’s expectations with assays including:
Three rigs are drilling around the clock at VC-07 East, with a primary focus on completing infill and extensional resource definition drilling to support a maiden mineral resource estimate, which is expected to be completed in 2022.
Azure Minerals Ltd (ASX:AZS) is continuing to successfully intersect substantial visible nickel and copper sulphide mineralisation from its resource definition drilling program on the VC-07 East nickel-copper sulphide deposit at the Andover Project (60% Azure / 40% Creasy Group) in Western Australia.
22 new drill holes intersected multiple intervals of massive, semi-massive, matrix and heavily disseminated nickel-copper sulphides, with some of the broader intersections being:
Recently, the continuity of nickel and copper sulphides was demonstrated at the corridor's eastern portion, VC-07 East, with mineralisation observed over more than 550 metres by 300 metres and remains open.
Insight: Azure Minerals has 60% of a nickel/copper discovery that should progress to...
Azure Minerals Ltd (ASX:AZS) was featured on top of Far East Capital’s Weekly Commentary with analyst Warwick Grigor noting that the company has 60% of a noteworthy nickel/copper discovery that should progress to a long life mine at some point.
Grigor said nickel and copper stocks are in strong demand owing to the alternative energy and battery opportunities.
What management says
Azure Minerals Ltd (ASX:AZS)'s Tony Rovira tells Proactive they're continuing to successfully intersect substantial visible nickel and copper sulphide mineralisation from its resource definition drilling program on the VC-07 East nickel-copper sulphide deposit at the Andover Project in Western Australia. To date, Azure has completed 80 diamond drill holes for 36,816 metres at Andover, with 72 holes drilled at VC-07 and 8 holes drilled at the VC-23 prospect. Three rigs are drilling around the clock at VC-07 East, with a primary focus on completing the drill-out of the deposit this year and delivering a maiden mineral resource in 2022.
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