EXPLORATION & DEVELOPMENT

Azure talks up Andover as nickel-copper assays received

Explorer believes 'substantial' deposit is possible

This article is 4 years old. Images might not display.

The assays were headlined by 3.9m at 2.85% nickel and 0.47% copper from 94.5m, with the true width of the mineralisation still to be ascertained.

Drilling is continuing and further assays are pending.

Andover is 30km south east of Karratha.

Azure's initial drilling tested for extensions of a 7m hit grading 2.62% nickel and 0.65% copper drilled by famed prospector Creasy a couple of years ago.

Azure went into joint venture with Creasy a few months back as work in its main focus of the past decade or so, Mexico, was impacted by COVID-19.

Creasy was already a shareholder in Azure.

Shares in Azure were up nearly 17% to 42c in morning trade, capitalising the company at $102 million.

The stock was trading at levels around 5-6c back in March.

Azure started the current quarter with about $3 million cash, suggesting a capital raising in the near term is likely to be firmly on the company's radar. 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.