- Azure Minerals (AZS) receives more “high-grade” results from drilling at the Ridgeline deposit within its Andover project in Western Australia
- The latest results include 31.8 metres at 1.41 per cent nickel, 0.88 per cent copper and 0.06 per cent cobalt from 434.1 metres
- MD Tony Rovira says the results are “extremely positive” and continue to grow the size and scale of the Ridgeline deposit, which remains open up and down-plunge
- The company is busy working to complete a mineral resource estimate for the Ridgeline deposit and plans to continue drilling in other areas of the Andover project
- AZS shares are down 13.56 per cent to 25.5 cents at 11:00 am AEDT
Azure Minerals (AZS) has reported further “high-grade” results from drilling at the Ridgeline deposit within its majority-owned Andover project in WA’s West Pilbara region.
The company has drilled 61 diamond holes for 33,120 metres, defining high-grade shoots of massive and semi-massive sulphides within broad zones of lower-grade disseminated sulphide mineralisation across the East, West and North Shoots.
The latest highlighted results include 31.8 metres at 1.41 per cent nickel, 0.88 per cent copper and 0.06 per cent cobalt from 434.1 metres, including 12.1 metres at 1.77 per cent nickel, 1.21 per cent copper and 0.08 per cent cobalt.
Managing Director Tony Rovira said this round of “extremely positive” drill results continued to grow the Ridgeline deposit in size and scale.
“The steeply plunging strongly mineralised shoots demonstrate significant vertical extent and still remain open up- and down-plunge,” Mr Rovira said.
“The central cores of these shoots are characterised by zones of high-grade semi-massive to massive nickel and copper sulphides surrounded by a broad halo of disseminated sulphide mineralisation.”
Azure Minerals is currently working to complete a mineral resource estimate for the Ridgeline deposit and also plans to continue drilling at other areas within the Andover project known to contain nickel-copper-cobalt sulphide mineralisation.
However, despite the company’s apparent confidence in today’s drilling results, it seems investors have responded poorly to the news.
AZS shares were down 13.56 per cent to 25.5 cents at 11:00 am AEDT.