An ongoing lithium-focused drilling campaign by Azure Minerals Ltd (ASX:AZS) (Azure Minerals Ltd (ASX:AZS)) at the Andover Project in the West Pilbara region of WA continues to deliver “substantial widths” of spodumene-bearing pegmatite.
Azure owns a controlling interest in the project, with partner Creasy Group (40%) holding the balance.
Highlights
Thick pegmatite intersections containing visible spodumene have been found in holes drilled beneath the outcropping AP0012/AP0011 pegmatite zones, with results including:
- 31.7-metre-wide pegmatite from 309.6 metres downhole (around 222 metres vertical depth);
- 12.1-metre-wide pegmatite from 219 metres downhole (around 129 metres vertical depth) and 52.9-metre-wide pegmatite from 247.7 metres downhole (around 146 metres vertical depth); and
- 29.7-metre-wide pegmatite from 190.7 metres downhole (around 119 metres vertical depth); and 39.6-metre-wide pegmatite from 261.2 metres downhole (around 162 metres vertical depth).
Significant spodumene
Azure managing director Tony Rovira said: “It’s very pleasing that our drilling continues to successfully intersect significant quantities of spodumene mineralisation over substantial widths in the vicinity of the AP0012 and AP0011 lithium prospects.
“Visually, the observations of abundant spodumene demonstrate that the Andover pegmatites are fertile and strongly mineralised, and I look forward to delivering further drilling information and assay results as they become available.
“We are now mobilising a second diamond drill rig to site to accelerate the lithium-focused exploration in the AP0011 / AP0012 area, while we wait on environmental and heritage approvals to access some of our other high-priority lithium targets.”
AZS shares have been as much as 14.5% higher intraday to A$0.395, a new 12-month high.
Drilling continues to target mineralised pegmatites closer to the surface to determine the relationship between spodumene-rich drill intersections and the outcropping pegmatites that host high lithium grades.
Exploration will be accelerated with the addition of a second diamond drill rig which is expected to be operating on site within the next two weeks.
Following receipt of requisite heritage clearances and environmental approvals, drilling will move to other pegmatite outcrops that host what the company has visually identified as substantial quantities of spodumene with high lithium grades.
These demonstrate the potential for significant volumes of mineralisation.