Azure Minerals discovers new zone of nickel-copper sulphide at Andove, shares jump 11.76pc
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Regional exploration has kicked off to a great start with a new nickel-copper sulphide discovery at the Skyline prospect.
Azure Minerals has discovered a new zone of nickel-copper sulphide mineralisation at the Skyline prospect, around 300m to the west of the VC-23 prospect at the Andover Project in Western Australia’s Pilbara region.
Shares have jumped 11.76% on the news to 38 cents with the company also intersecting substantial massive nickel and copper sulphide mineralisation in the VC-07 west mineralised system, where drilling is continuing to test mineralised extensions and EM conductors.
Best results here include 2m massive to disseminated nickel-copper sulphides from 245.8m, 6.2m of massive and semi-massive nickel-copper sulphides from 539.5m, and 4.8m of semi-massive to heavily disseminated nickel-copper sulphides from 546.7m.
Three drillholes at the Skyline prospect intersected nickel and copper sulphide-rich mineralisation coincident with electromagnetic conductors.
Highlights include 7.4m of disseminated nickel-copper sulphides from 55.5m, 6.4m of disseminated nickel-copper sulphides from 64.2m, and 6.7m of disseminated nickel-copper sulphides from 81.4m
Speaking to the results, Azure Minerals (ASX:AZS) managing director Tony Rovira said the first three holes all intersecting nickel-copper sulphide mineralisation confirms that electrical conductance on Andover continues to be associated with sulphide mineralisation.
“Meanwhile our drilling continues to intersect substantial nickel-copper sulphide mineralisation within the VC-07 mineralised corridor,” he said.
“With multiple mineralised drill hits and extensions of the EM conductors that have yet to be drilled, VC-07 West looks promising for hosting significant nickel-copper sulphide mineralisation.”
As it stands, around 133 diamond drill holes have been completed on the Andover Project for a total of 58,808m.
This includes 102 holes drilled at VC-07 East, 20 holes at VC-07 West, eight holes at VC-23 and three holes at Skyline.
Two diamond drill rigs are currently drilling on VC-07 West while a third rig, having completed drilling the three holes at Skyline, is now drilling on the VC-18 East EM anomaly.
This article was developed in collaboration with Azure Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.