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- Azure Minerals (AZS) records its highest grade nickel intersection to date at the Ridgeline deposit within the Andover project in Western Australia
- The final drill hole in the company’s resource drilling program returned 9.3 metres at 2.58 per cent nickel, 0.75 per cent copper and 0.10 per cent cobalt
- Azure says the broad zone intercepted, confirms strongly mineralised shoots remain open down-plunge, providing further upside for resource expansion
- While this round of drilling marks the completion of the mineral resource drilling, given the results, the company is planning follow up drilling to test the deeper mineralised potential
- Shares in AZS are down 6.9 per cent trading at 27 cents at 1:59 pm AEDT
Azure Minerals (AZS) has recorded its highest grade nickel intersection to date at the Ridgeline deposit within the Andover project in Western Australia.
The company holds 60 per cent of the project with Creasy Group, which holds the other 40 per cent.
Drilling at the nickel-copper-cobalt sulphide deposit has defined two sub-parallel, east-west striking mineralised horizons than span for more than 350 metres south and 200 metres north, to depths of between 200 and 500 metres.
Within the horizons are three north-west plunging shoots that remain open at depth.
Earlier this month, Azure announced a top result of 31.8 metres at 1.4 per cent nickel, 0.88 per cent copper and 0.06 per cent cobalt from 434.1 metres.
Now, assays have been received for the final drill hole in the company’s resource drilling program, which returned 18.2 metres at 1.93 per cent nickel, 0.65 per cent copper and 0.08 per cent cobalt, including 9.3 metres at 2.58 per cent nickel, 0.75 per cent copper and 0.10 per cent cobalt.
Azure said the new, broad zone confirms the strongly mineralised shoots remain open down-plunge, providing further upside for resource expansion outside of the current model.
The latest results mark the completion of the mineral resource drilling, and the company is planning follow up drilling to test the deeper mineralised potential.
Diamond drilling is also continuing on other known nickel-copper-cobalt sulphide mineralisation occurrences, including at Atrium and Pipeline.
At the same time, AZS is completing surface and downhole electromagnetic surveying.
Azure will begin processing and interpretation of results from the exploration activities over the coming months, which it expects will generate and define future high priority targets.
Shares in AZS were down 6.9 per cent trading at 27 cents at 1:59 pm AEDT.
