Gold prices remain strong and the ongoing global electrification and decarbonisation revolution means the future demand outlook for the high-value, clean and green battery metals – nickel and copper – is solid and exciting.
The acquisition of its Western Australian nickel, copper and gold portfolio from prominent mining investor and prospector Mark Creasy and the Creasy Group, including the flagship Andover Nickel-Copper Project, has been a game-changer for Azure.
Azure chairman Brian Thomas said: “Mark Creasy is arguably one of the world’s best prospectors and to have him as a project partner and Azure shareholder is a strong endorsement of the pathway we are on and the track record of Tony Rovira as a leader of mineral exploration and project development teams.”
Andover continues to deliver
The Andover acquisition has already delivered discoveries at VC-07 and VC-23, confirming significant quantities of nickel and copper sulphide mineralisation at these prospects.
Mineral resource drilling is still ongoing in September 2021, with the VC-07 East zone now confirmed as a considerable nickel-copper sulphide deposit in its own right.
An intensive drilling program is expected to deliver a maiden mineral resource in early 2022.
The company is well funded to continue advancing exploration and development of the nickel-copper sulphide deposits identified at Andover.
Initially, it will focus on completing the mineral resource drill-out programs on the VC-07 East Nickel-Copper sulphide deposit, with the maiden mineral resource to be released in 2022.
When the mineral resource drill program concludes at VC07 East, Azure will re-focus the drilling campaign to expanding the VC-07 West mineralised zone to resource status and testing regional targets.
Azure is also aggressively exploring several other very attractive targets at Andover and sees this project very much as a “company-making opportunity”.
Exciting Barton Gold Project
Azure has completed an airborne magnetic survey over the Barton project area and preparation is underway for aircore and reverse circulation (RC) drilling programs.
Turner River exploration licences
The company is awaiting the granting of exploration licences at Turner River, another Creasy Group joint venture close to De Grey Mining Ltd’s multi-million-ounce Hemi gold deposit.
Mexican business exit
Due to the onset of the COVID-19 pandemic in early 2020 and the challenges of managing offshore projects, the company decided to pivot from its Mexican business strategy and return to its exploration roots in Western Australia.
Thomas explained: “As much as we valued the Mexican assets and are proud of the company’s exploration success there, the reality is we are now totally focused on the opportunities in front of us in WA.
“As such, we conducted a strategic review of those assets and are now running a process to divest the projects to generate the best possible outcome for you our shareholders.”