Azure Minerals in Lithium Charge at RIU Explorers
THE CONFERENCE CALLER: Azure Minerals (ASX: AZS) managing director Tony Rovira says the first lithium drill result from the polymetallic Andover project this week is very significant.
The company reported a mineralised pegmatite intersection, on the eve of the 2023 RIU Explorers Conference, of 7.2 metres at 1.51 per cent lithium oxide (Li2O), including a high-grade zone of 1.87 per cent Li2O over 3.1m.
The drill hole had been testing a nickel target at Andover, which has a resource containing 97,300 tonnes of combined contained nickel, copper and cobalt.
Rovira told Resources Roadhouse, from Azure’s booth at the conference, that there were “literally hundreds of outcropping pegmatites throughout the Andover project”, with rock chip samples returning up to nearly 5 per cent lithium oxide.
“So, the indications are that the pegmatites swarm at Andover has not only high-grade potential, but also has volume potential with so many pegmatites being present there,” he said.
“It’s early days…that was a hole that was actually targeting a nickel target.
“The lithium-focused exploration drilling will get underway in the next week or two.”