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- Azure Minerals (AZS) hits two massive high-grade lithium intersections at its Andover project in Western Australia
- The company hit a 200-metre-thick lithium intersection and a second intersection at 180-metre-thick
- Both hits were high-grade and a new diamond drilling campaign kicks off next week
- The company recently received a new exploration license at Andover, expanding the project’s area to 108 square kilometres
- Azure Minerals shares last traded at $2.51
Azure Minerals (AZS) shares have shot up after the company announced its discovery of a 209-metre thick high-grade lithium intersection at its Andover project in Western Australia.
A second intersection of more than 180 metres in thickness was also recorded.
Drillhole ANRD0017 which hit the 209-metre body graded at an average concentration of 1.42 per cent lithium oxide while the second drill hole that intersected 183 metres was graded at 1.25 per cent.
Downhole ANDR0017, a 56-metre long section pocket graded higher at two per cent.
The company was chasing after its AP0011 pegmatite target, today confirming the presence of lithium mineralisation. The target remains open to further drilling with geotechs confident there’s more to be discovered.
Within the next seven days, the rigs will be fired up at Andover again to chase after further pegmatite targets.
“Encouragingly, the results suggest the mineralisation remains open along strike and to depth, providing Azure with the potential to produce similar, if not better, lithium intersections,” AZS Managing Director Tony Rovira said.
“The Andover project is an exceptional discovery given the abundance of outcropping mineralised pegmatites and substantial widths of high-grade mineralisation.”
An east-west oriented cluster of pegmatite targets expands over a nine-kilometre area at Andover with several hundred outcrops identified.
So far, Azure has sunk 40 diamond drillholes on site, adding increasing evidence of the economic prospectivity of its acreage.
The company has also picked up an extra exploration licence, now granting 108 square kilometres.
Azure shares last traded at $2.51.
