Azure Minerals Limited (ASX: AZS) has announced that its ongoing extensive sampling exploration programme across its Andover Project, located in Western Australia, continues to return significant grades of lithium, reaching up to a maximum value of 4.87% Li20.
Commenting on the recent high grade assay results, Azure’s managing director, Mr Tony Rovira said, “We are extremely excited by these latest results which highlight the huge potential of the Andover Project to host substantial lithium resources. It is particularly pleasing to see these types of results given the recent announcement that global mining and chemical company SQM would invest A$20M to take a 19.99% stake in Azure, which is not only an endorsement of our strategy and the prospectivity of our projects, but also gives us the financial firepower to aggressively tackle this opportunity.”
“Work completed by our dedicated lithium exploration team has built a strong foundation for future growth, with high grade lithium identified in multiple pegmatites along a strike length of approximately 5km, within the now defined 9km-long extent of the Andover pegmatite swarm. “Several hundred pegmatite bodies remain to be sampled and mapped within the project area, and this work will continue in parallel with upcoming diamond and RC drilling programmes.”
Azure has now embarked on an accelerated growth strategy to advance the company’s multicommodity opportunity on the Andover Project. Lithium exploration will be fast-tracked with a maiden lithium-focused drilling programme expected to commence in late February.
Azure has said that nickel exploration and mine development studies on its Andover and Ridgeline Deposits will also continue through 2023. The company is fast-tracking the lithium exploration with a team of geologists and technicians dedicated to the operation. An initial drilling programme of 30,000m of Reverse Circulation and diamond core drilling will be undertaken to determine the scale and depth potential of the mineralization already mapped and sampled at surface.
Highest priority drill targets are pegmatite outcrops containing high lithium grades and which demonstrate potential for significant volumes of mineralization. With analytical results from 600 pegmatite samples still pending, the company believes it is very likely that many more attractive targets will be identified over the coming months for priority drill testing.
Additionally, project-wide geological mapping and rock chip sampling of the, as yet un-sampled pegmatites will continue in 2023 and are expected to define further drill targets. Early stage metallurgical, heritage, environmental, hydrological, and flora and fauna studies will also be undertaken.
To find out more, please visit www.azureminerals.com.au
