Azure Minerals (ASX:AZS) has continued to build its lithium story at the Andover project in WA’s Pilbara region, confirming consistent high grades from two pegmatites drilled at Target Area 3.
Thirteen assay results were reported for pegmatite AP0004, with intersections including 102.5 metres at one percent lithium oxide (Li2O) from 393.5 metres, 88.4 metres at 1.53 percent Li2O from 38 metres, and 62.5 metres at 1.53 percent Li2O from 268.5 metres.
The second pegmatite – AP0002 – yielded five reported assay results – including 47.1 metres at1.27 percent Li2O from 286.4 metres, 44 metres at 1.11 percent Li2O from 140 metres, and 40.2 metres at 1.29 percent Li2O from 243.8 metres.
Boosting hopes for the mineralisation of each is the fact that AP0004 has a strike length of more than 2,100 metres, while that of AP0002 is measured at 1,500 metres; both pegmatites are open at depth and along strike to the northeast and southwest.
These results support Azure’s theory of a major system of lithium mineralisation at TA3, which forms only one of the multiple focal points at the Andover project, where a ‘swarm’ of outcropping pegmatites numbering in the hundreds has been identified.
Eight diamond drills remain on site to test this theory, seeking to extend the TA3 system, and drilling on the project overall has been extensive, with 114,556 metres drilled since the campaign began in March last year.
Azure Minerals controls 60 percent of the Andover project (with 40 percent held by the Creasy Group), and is aiming to release a maiden mineral resource estimate (MRE) for the project in the first quarter of 2024, progressing to a scoping study in the fourth quarter.
Azure is trading at $3.62