Azure strikes highest nickel and copper sulphide grades at Andover with maiden resource on the way
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Azure Minerals is preparing to release its maiden resource estimate for the exciting Andover nickel-copper project in WA’s north after striking its highest grade results to date.
Azure Minerals (ASX:AZS) has completed its resource drill out with a bang, striking 4.94% copper over 1.1m from 498.9m downhole and 5.04% nickel from 325.8m downhole.
It expects to release a maiden mineral resource estimate in the first quarter of 2022, having drilled an impressive 118 diamond drill holes for 52,188m at Andover since taking on the project a year ago.
110 of those holes have been drilled at the VC-07 nickel sulphide target, and 96 of those were drilled at the high grade VC-07 East nickel-copper deposit.
Another 14 holes have been drilled at VC-07 West with eight holes drilled at the VC-23 prospect.
Investors will be closely watching Azure’s news flow ahead of the resource announcement, which could become another success story for 40% owner and Azure partner Mark Creasy, whose record of discovery in WA includes the Nova Nickel Mine and Bronzewing and Jundee gold mines.
Azure managing director Tony Rovira said Andover is emerging as a ‘significant nickel district’.
“In the year since we arrived at the Andover Project, our exploration team has identified and drilled numerous zones containing substantial nickel and copper sulphide mineralisation, which points to Andover being a significant nickel district,” he said.
“From the initial identification of the kilometre-long VC-07 mineralised corridor, we’ve now completed drilling out the VC-07 East deposit and the estimation of Andover’s maiden mineral resource is underway.”
While the ~5% copper and nickel hits are the headline results from the last round of assays at Andover, there are plenty more where that came from.
Results from VC-07 East include:
The results demonstrate the depth potential of the VC-07 deposit, where nickel sulphides begin from 40m below surface, dips steeply and continues for a vertical extent of 550m at depth, with the deepest holes continuing to intersect mineralisation.
Assays are still due for another 28 holes from drilling to date.
While Azure gets to work on its mineral resource estimate at VC-07 East, the drill rigs will keep turning at Andover.
The ongoing diamond drill program has confirmed the 1km long VC-07 mineralised corridor contains multiple zones of nickel and copper sulphides.
Drilling for extensions and repetitions is rolling on, with three diamond rigs currently focused on the VC-07 West zone about 300m from the VC-07 East Ni-Cu deposit.
Earlier intersections from ANDD0045 included 4.5m at 3.95% Ni, 0.80% Cu and 0.16% Co from 486.6m downhole, and 7.5m at 1.39% Ni, 0.45% Cu and 0.06% Co from 601.6m downhole.
Azure is also planning to test three high priority drill targets identified in geochemical sampling and surface EM surveying over the past year.
These include VC-23, where Azure has drilled eight diamond core holes, five of which intersected significant nickel and copper sulphide mineralisation, VC-18, which is represented by a 3.5km, bedrock-hosted EM conductor, and VC-41, which is an attractive geophysical target represented by two strong EM conductors.
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.