- Azure Minerals (AZS) has entered a trading halt ahead of an upcoming capital raising
- The company will remain in the halt until November 27 or when the announcement is made, whichever occurs first
- Just yesterday, Azure announced it had intersected massive nickel-copper sulphides at its Andover Project in Western Australia
- The most recent hole intersected a 20.8-metre-wide zone containing significant intervals of nickel-copper mineralisation and massive and semi-massive sulphides
- Additionally, this interval is followed by a 23.4-metre-wide zone of weakly dispersed nickel-copper sulphide mineralisation
- Shares in Azure last traded for 82 cents on November 24
Azure Minerals (AZS) has entered a trading halt ahead of an upcoming capital raise.
The company will remain in the halt until November 27 or when the announcement is made, whichever occurs first.
Just yesterday, Azure revealed it had intersected massive nickel-copper sulphides at its Andover Project in the Pilbara region of Western Australia.
The most recent hole, ANDD0005, intersected a 20.8-metre-wide zone containing significant intervals of nickel-copper mineralisation and massive and semi-massive sulphides.
This interval is followed by a 23.4-metre-wide zone of weakly dispersed nickel-copper sulphide mineralisation, supporting the potential for substantial mineralisation at Andover.
Five diamond drill holes have been completed to date, with all intersecting intervals of substantial widths of nickel-copper sulphide mineralisation.
Azure is now in the process of drilling its sixth diamond hole which is aiming to test for down-dip extensions of mineralisation intersected in hole ANDD0004.
This will then be followed by step-out drilling to test the strike extent of the VC7 conductor which spans an area of 1050 metres by 200 metres.
Assays for holes ANDD0003 to ANDD005 are pending and will be reported on once received.
Azure is yet to disclose how much it is raising or what it will be using the funds for.
Shares in Azure last traded for 82 cents on November 24.