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The second hole hit a 14.5m interval of semi-massive and matrix sulphide mineralisation from a depth of 104.5m, while the first hole intersected mineralisation from 80m including 4m of massive sulphides from 94.5m.
Assays are awaited, with downhole EM also underway.
Azure's diamond drilling is following up on the original four-hole RC program drilled by famous prospector Mark Creasy, who retains a 40% interest in the ground.
Shares in Azure were up 21% to 46.5c in early trade, captialising the company $112 million.
The stock has more than doubled this month.
Azure raised $4 million in July/August when it issued new shares at 10c.
