Azure Minerals Ltd (ASX:AZS, OTC:AZRMF) has fielded a series of exceptional drilling results at the Andover Project, a venture shared with the Creasy Group.
Since turning its attention to lithium exploration in March 2023, the company has drilled 192 diamond core and other holes over a total of 89,216.1 metres.
The hard work has paid off. Findings from Target (NYSE:TGT) Area 1 – AP011 – are particularly noteworthy, revealing multiple intervals of high-grade lithium intersections.
The company says the results solidify the Andover Project's status as a potentially world-class lithium source.
Strong results
The company has welcomed an intersection that measured 165.2 metres with a lithium oxide (Li2O) grade of 1.33%, starting from a depth of 306.6 metres, including a high-grade section of 46.7 metres at 2.08% Li2O, and 135.2 metres at 1.12% Li2O, from 288.9 metres.
Other strong intersections include:
- 97.6-metres at 1.19% Li2O from 459.4 metres, including 48.7 metres at 1.42% Li2O;
- 80.2 metres at 1.37% Li2O from 242.3 metres; and
- 69.2 metres at 1.16% Li2O from 277.4 metres.
These results are characterised by thick, lithium-rich and spodumene-bearing pegmatite intervals.
The Andover pegmatite swarm covers an area of 9 kilometres by 5 kilometres, with numerous outcropping pegmatites.
The data collected will be instrumental in compiling a mineral resource estimate (MRE) scheduled for completion in the second quarter of 2024.
Drilling to resume in New Year
Following a brief demobilisation over the Christmas and New Year period, drilling will recommence in early January 2024 with eight diamond rigs.
The company believes its findings at Andover come at a crucial time, with global demand for lithium, a key component in electric vehicle batteries, on the rise. The lithium reserves discovered by Azure in 2023 may prove to make a big dent in the growing demand.
Azure Minerals’ continuous exploration and successful drilling results at the Andover Project underscore its commitment to uncovering valuable resources and contributing to the evolving energy landscape.