Azure Minerals Limited (ASX:AZS) (OTCMKTS:AZRMF) has discovered two new broad zones of nickel-copper sulphide mineralisation at its flagship Andover Nickel-Copper Project near Port Hedland in WA.
Downhole transient electromagnetic (DHTEM) surveys conducted earlier this year identified targets for drilling.
The first of multiple holes to be drilled into two newly identified DHTEM conductors intersected two broad mineralised zones sitting about 200 metres apart downhole and about 400 metres west of the first Andover discovery.
Drilling to follow-up the sulphide mineralisation intersected in this first hole is underway, with testing along strike to the west and for up-dip mineralised extensions.
Encouraging drill results
There was a total of 66 metres of nickel-copper sulphides identified in the new discovery with the hole returning:
- 36.6 metres of matrix and heavily disseminated nickel-copper sulphides from 428.15 metres; and
- 28.9 metres of matrix, stringer and disseminated nickel-copper sulphides from 644.1 metres.
Assay results were also received from 10 infill holes at the VC-07 East target, including 7.15 metres at 2.28% nickel and 0.57% copper from 135.4 metres in ANDD0031, which included 4.25 metres at 3.59% nickel and 0.78% copper from 137.1 metres.
Mineralisation and associated DHTEM conductors are open in all directions, with multiple nickel-copper shoots now identified within the broader VC-07 mineralised corridor.
The upper mineralised zone of the first hole is coincident with the modelled location of the upper EM conductor plate.
This EM plate has significant extent above, below and to the west of the hole, indicating good potential for substantially more mineralisation.
Meanwhile, the lower mineralised zone is about 50 metres below the bottom edge of the lower EM conductor plate, indicating that more conductive, potentially massive sulphide mineralisation extends for a significant distance up-dip from the first hole.
“Right project for the right company”
In a recent presentation to investors, Azure Minerals outlined the potential of the Andover project, which it says is growing into a “significant nickel-copper-cobalt sulphide deposit”.
The project, in the Pilbara, is 60% owned by Azure and 40% owned by Creasy Group. It is home to mineralisation for highly sought-after battery metals, including nickel, copper and cobalt, and Azure is preparing for a resource estimate with three drill rigs operating on site.
“Andover is a fertile, nickel-rich environment, with layered mafic-ultramafic intrusion similar to Fraser Range & Julimar,” the company said.
Fraser Range and Julimar are well-known mining districts in Western Australia, with Chalice Mining Ltd (ASX:CHN) (OTCQB:CGMLF) owning the Julimar Nickel-Copper-PGE project that has gained considerable attention.
“Significant nickel-copper-cobalt sulphides have been discovered at the VC-07 & VC-23 targets, and we have identified multiple geophysical targets, with no false positives from electromagnetic surveys.”
Next steps
Azure has completed 43 diamond drill holes across more than 18,000 metres at Andover, with 35 holes drilled at VC-07 and eight holes drilled at VC-23. Assays have been received for 35 holes.
Two diamond drill rigs are testing the VC-07 West mineralisation and a third rig is continuing to infill drill the VC-07 East mineralised zone for mineral resource estimation purposes.
Follow-up drilling will target additional intersections within the main zone of mineralisation and down-dip extensions.
Planning continues for additional drilling at other high priority targets across the project area, including VC23, VC-18 and VC-41, utilising the data from the airborne and surface electromagnetic surveys and the recently completed high resolution aerial magnetic survey.
- Daniel Paproth