- Shares in explorer Azure Minerals (AZS) soared today on news it had uncovered more mineralisation at the Andover Nickel-Copper Project
- In today’s announcement, Azure revealed it had intersected 14.5 metres of nickel and copper mineralisation from 104.5 metres in its second drillhole at the West Pilbara project
- The result forms part of Azure’s maiden exploration campaign at Andover, which is aiming to follow up on historical drilling at the base metal play
- On Monday, Azure released results from its first drillhole at Andover, where it uncovered 40.7 metres of nickel and copper sulphide mineralisation from 80.6 metres
- While this week’s results account for just one-sixth of the assays in the maiden campaign, they’ve already impressed Azure shareholders
- Today, AZS shares are up 20.8 per cent, trading for 46.5 cents
Shares in explorer Azure Minerals (AZS) soared today on news it had uncovered more mineralisation at the Andover Nickel-Copper Project.
In today’s announcement, Azure revealed it had intersected 14.5 metres of nickel and copper mineralisation from 104.5 metres in its second drillhole at the project.
The result forms part of Azure’s maiden exploration campaign at Andover, which is aiming to follow up on historical drilling at the base metal play.
Ready to explore
Back in early August, the materials stock announced it was ready to begin a maiden drill program at the West Pilbara project, which is 60 per cent owned by Azure and 40 per cent owned by the privately-owned Creasy Group.
Azure only acquired the majority stake in Andover in mid-July, along with two more 70 per cent interests in Pilbara-based gold plays.
Then, the company began its first twelve-hole, 3000-metre drilling campaign at Andover in early October, and disclosed results from the first hole just a few days ago.
Early results
On Monday, Azure announced it had uncovered 40.7 metres of nickel and copper sulphide mineralisation from 80.6 metres. Also, a four-metre massive nickel and copper sulphide was discovered just 94.5 metres downhole.
Overall, these results — which range from massive to matrix findings — align with the interpreted position of an electromagnetic (EM) conductor, which the explorer previously identified.
This significant result was intersected in the first hole drilled at Andover, and today’s announcement followed up on the strong assays by uncovering further mineralisation.
Positively, the latest results extend the mineralised zone at Andover by an extra 40 metres.
What’s ahead?
Azure still needs to complete the remaining ten diamond drill holes at Andover, and hopes the next targets will uncover similarly fruitful results.
Speaking on Azure’s latest findings, Managing Director Tony Rovira said the results are significant.
“Andover continues to impress with our second drill hole intersecting strong nickel and copper sulphide mineralisation,” Tony stated.
“The strong correlation of EM conductors with massive to semi-massive nickel and copper mineralisation augurs well for further exploration success as numerous EM conductors identified from surface surveying remain to be tested,” he continued.
While this week’s results account for just one-sixth of the assays in the maiden campaign, they’ve already impressed Azure shareholders. Since the start of this week, Azure has added 12 cents to its share price.
Today, AZS shares are up 20.8 per cent, trading for 46.5 cents at 1:05 pm AEDT.