Join our daily newsletter At The Bell to receive exclusive market insights
- Azure Minerals (AZS) hits gold in the first drilling program at its Barton project in the Eastern Goldfields region of Western Australia
- Reverse circulation drilling targeted mineralised extensions from Genesis Minerals’ (GMD) Puzzle North deposit and, of the 21 holes drilled, most intersected gold mineralisation
- The company says the assays indicate that the mineralised system at Puzzle North continues into its tenement
- Prior to the next phase of drilling planned for the third quarter, Azure is undertaking surface exploration to refine the model of the mineralised system
- Shares have been trading 8 per cent higher at 27 cents at 10:30 am AEST
Azure Minerals (AZS) has intersected gold in the first holes drilled at its Barton project in the Eastern Goldfields region of Western Australia.
The company’s first drilling program at the project comprised 21 reverse circulation drill holes at the Daisy Corner prospect, targeting northern mineralised extensions of Genesis Minerals’ (GMD) Puzzle North gold deposit.
Drilling intersected both granite and greenstone rocks with shearing, quartz-veining, iron oxides and disseminated pyrite present in most holes.
With most of the drill holes intersecting gold mineralisation, the company said the assays indicate that the mineralised system at Puzzle North continues into Azure’s tenement.
The pick of the results was a four-metre interval grading 0.68 grams of gold per tonne (g/t gold) from 31 metres downhole, and 10 metres at 0.4 g/t from 55 metres downhole.
Managing Director Tony Rovira said intersecting such widespread mineralisation in its first drilling program is encouraging.
The next phase of drilling is set to kick off in the third quarter of this year. In the meantime, the company is undertaking surface exploration including geological mapping, soil sampling and structural interpretation of airborne magnetic data to refine the model of the mineralised system.
Company shares were trading 8 per cent higher at 27 cents at 10:30 am AEST.
