I doubt AZS would drill in the 3 target areas without doing rock chip samples and assays first - so in the 3 areas they have done the samples but have not released all the rock chip results ie none for AP15-18.
They have the clearances for AP3, 5-7 but not AP4 and do not yet have clearance for AP15-18 to the north (see 23 May announcement). They really need clearance for AP4 as it’s in the middle of AP3-6, They also do not have clearance for AP8 and 13. AP 8 is close to AP9 and AP 13 is close to AP15-18. They intend on drilling AP8 but not AP1-2 and not AP13 in the published POW but that may change.
Additional clearances are expected this quarter. So my guess is the any additional rigs may be timed to arrive just after the additional clearances are received, which happened after they received clearances in late May.
With ongoing rock chip sampling they may identify additional high priority areas but unless these are particularly juicy I do not expect them to be drilled until next year.
AZS Price at posting:
$1.63 Sentiment: Buy Disclosure: Held
