Join our daily newsletter At The Bell to receive exclusive market insights
- Azure Minerals (AZS) continues to hit nickel and copper at the VC-07 East deposit, located within the Andover Project in the West Pilbara region of Western Australia
- Since discovering VC0-7, just over 12 months ago, a total of 102 diamond holes have been drilled for 43,995 metres
- The latest results have intersected shallow nickel and copper sulphide mineralisation within 25 metres of surface
- Azure is now expecting the maiden mineral resource estimate for the deposit to be delivered late in the first quarter of 2022
- On the market today, Azure is up 5.97 per cent and trading at 35.5 cents per share
Azure Minerals (AZS) has continued to hit nickel and copper at the VC-07 East deposit, located within the Andover Project in the West Pilbara region of Western Australia.
Since discovering VC0-7, just over 12 months ago, a total of 102 diamond holes have been drilled for 43,995 metres at the deposit.
Results have now been received for 92 of those holes, with assays for the remaining 10 expected to be received within the next month.
The latest results have intersected shallow nickel and copper sulphide mineralisation within 25 metres of surface.
Intercepts include five metres at 2.34 per cent nickel, 0.41 per cent copper and 0.12 per cent cobalt from 583.3 metres downhole and 3.8 metres at 2.84 per cent nickel, 0.41 per cent copper and 0.12 per cent cobalt from 94.7 metres.
Azure is now expecting the maiden mineral resource estimate for the VC-97 East deposit to be delivered late in the first quarter of 2022.
Managing Director Tony Rovira is pleased with the results.
“Some of the holes drilled to define the boundaries of the mineralisation have returned good nickel and copper grades over significant widths, indicating the potential to further
increase the overall dimensions of the deposit along strike and to greater depths,” Mr Rovira said.
“I thank the entire Azure team for their hard work and commitment in 2021, which has seen the company undertake a large amount of exploration across the Andover Project and importantly, deliver significant success highlighted by multiple nickel-copper sulphide discoveries.
“We finish the year in a strong position, which includes a very healthy cash balance, and look forward to continue progressing Andover through the exploration, discovery, mineral resource and development study stages,” he concluded.
Drilling at the project has now been paused over the Christmas and New Year period and is expected to resume on or about January 10.
On the market today, Azure was up 5.97 per cent and trading at 35.5 cents per share at 12:18 pm AEDT.
