Azure Minerals Ltd (ASX:AZS) has fielded results for several diamond holes drilled in late 2022, which intersected lithium-bearing pegmatites at the Andover Project which is 60% owned by Azure and 40% by the Creasy Group.
The drills were on site to test nickel targets but struck a ‘highly significant’ lithium result in one hole, near the VC-30 airborne electromagnetic (VTEM) anomaly.
This hole was collared in an area where Azure’s exploration had sampled numerous outcropping pegmatites containing visible coarse-bladed spodumene.
Extensive lithium prospectivity
The Andover pegmatite swarm contains more than 700 outcropping pegmatites in a zone around 9 kilometres long and up to 4 kilometres wide in the central and eastern parts of the project area.
These latest finds continue the run of results that confirm extensive lithium prospectivity across the project.
The hole entered a quartz-spodumene pegmatite at a downhole depth of 313.9 metres, returning a strong lithium intersection of 1.51% lithium oxide (Li2O) over 7.2 metres, including an internal high-grade zone of 1.87% Li2O over 3.1 metres.
Significant quantities of visible spodumene were observed in the drill core, and further drill holes intersected pegmatites containing anomalous lithium.
“The Andover Project continues to deliver very positive results,” managing director Tony Rovira said.
“Having defined two nickel deposits hosting robust mineral resources and then identifying multiple lithium-bearing pegmatites at surface, we have now intersected high-grade lithium mineralisation in a drill hole that was specifically testing a nickel target.
“This is further evidence of the substantial mineral endowment of Andover as a battery metals project hosting nickel, copper, cobalt and now lithium.”
What’s next?
Azure has embarked on an accelerated growth strategy to advance the company’s multi-commodity opportunity on the Andover Project.
Lithium exploration is being fast-tracked, with a specialist team of geologists and technicians dedicated to the operation.
An initial drilling program of 30,000 metres of reverse circulation (RC) and 10,000 metres of diamond core drilling will be conducted to determine the scale and depth potential of the lithium mineralisation already mapped and sampled at surface.
Highest priority drill targets are pegmatite outcrops containing high lithium grades at surface and which demonstrate potential for significant volumes of mineralisation.
Analytical results from 600 pegmatite samples are still pending, and the company expects to pinpoint many more attractive targets over the coming months.
Azure also intends to roll out project-wide geological mapping and rock chip sampling of as-yet unsampled pegmatites in 2023 to define further drill targets.