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Azure Minerals hits more +100-metre lithium intersections at Andover; shares up

Published 14/07/2023, 11:00 am
© Reuters.  Azure Minerals hits more +100-metre lithium intersections at Andover; shares up

Azure Minerals Ltd (ASX:AZS, OTC:AZRMF) has further enhanced the lithium prospectivity of the Andover Project in the West Pilbara region of Western Australia with intersections of 101.3 metres and 100.2 metres returned from two diamond drill holes.

Broad zones of lithium mineralisation were intersected in AP0011 pegmatite, confirming broad mineralised zones extend for more than 1,200 metres along strike and down-dip from surface to vertical depths in excess of 350 metres.

AZS shares have been as much as 8% higher to A$1.755, closing in on a high of more than 12 years of A$1.80 recorded earlier this week.

Broad zones

ANDD0223 returned 101.3 metres at 1.21% Li20 from 264.7 metres including a high-grade zone of 64.1 metres at 1.63% from 284.8 metres.

Hole ANDD0221 returned 100.2 metres at 1.24% Li2O from 101.5 metres, including 28 metres at 1.86% from 126.9 metres and 31.7 metres at 1.44% Li2O from 170 metres.

Andover Project is 60% owned and operated by Azure with prominent resources investor Creasy Group holding 40%.

The Andover pegmatite swarm extends over an area of 9 kilometres (east-west) and up to 5 kilometres (north-south) and comprises hundreds of outcropping pegmatites with many containing high lithium grades identified from extensive surface sampling.

Drilling program

Azure Minerals has drilled 33 diamond core holes for 11,150 metres and 66 reverse circulation (RC) holes for 12,164 metres with drilling currently testing along the +2,000-metre strike extent of the corridor containing the AP0009, AP0010, AP0011, AP0012 and AP0014 pegmatites.

ANDD0223 was drilled as a twin to hole ANDD0219, which intersected 4.9 metres at 1.92% Li2O at the top of the AP0011 pegmatite.

The very wide mineralised zone intersected in ANDD0223 remains open to the southwest through hole ANDD0221, which is about 130 metres up-dip from a previously reported intersection of 112.4 metres at 1.05% Li2O in hole ANDD0215.

This provides significant upside for a substantial volume of mineral resources along strike to the southwest.

Further results

Another hole, ANDD0220 drilled near-surface mineralisation in AP0012 pegmatite returned 39.5 metres at 1.06% Li2O from 2.0 metres, including 9.9 metres at 1.70% from 22 metres.

This broad intersection of near-surface mineralisation extends the mineralised strike of the AP0012 pegmatite for a further 200 metres to the northeast from several previously reported mineralised holes.

Holes ANDD0224 and ANDD0225 also returned strong intersections of 41.2 metres at 0.90% Li2O from 177.4 metres and 32.0 metres at 1.50% from 150.7 metres respectively.

These results confirm the lithium mineralisation remains open along strike to the southwest and further drilling is being undertaken in this direction.

Mineralisation at Andover remains open along strike and at depth.

Read more on Proactive Investors AU

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