Tony in an Interview stated that the rock chips guide them where to drill so they are important. The comments below illustrate why they are important.
I am interested in rock chips as it indicates the areas they should drill and the priority areas and potential for more high priority targets.
The following image from 21 March shows the areas of rock chip sample assays. Two things of importance:
1. there are no samples from the area where they have just received exploration approval where there are heaps of pegmatite outcrops ie the big area to the east and also none from parts of the area they already have exploration approval for (east part) - compare the next 2 images. 2. almost no rock chip samples from TA2 (see my comments below)
And these are the results from the rock chip samples as of 21 March.
The following 2 images set out the additional rock chip samples from July and latest presentation in August.
The key matters to notice are:
- the second last image above the samples show additional samples of 286 (ie 1079-793) with a high proportion over each of 4%, 3% ,etc - e.g. over 4% increased from 21 to 35. AZS have not shown the areas where these samples came from but given A. very few samples appeared in TA2 on 21 March announcement and B. TA 2 is a high priority target that AZS are drilling there now, it seems obvious most or all of the additional rock chip assays came from TA2. - in the last image above there are an additional 50 rock chip samples and a high proportion are high grade e.g. 13 are over 3% (119-106). Again we do not know the area where the samples were taken from - some maybe from TA2 or other areas but 50 is not a big sample.
In conclusion, the fact in the presentation today, Tony mentioned they are continuing to undertake rock sampling, obviously in the new exploration area they have received approval for and probably other areas, it appears there is the possibility they may uncover other high priority areas for future drilling- it is clear looking at the above images there are big areas of the Andover tenement where no rock chips have been sampled. However that does not guarantee that future rock samples will be of high grade nor that additional high priority areas will be identified. But success to date should be seen as positive and I am optimistic future rock samples may identify other priority areas to drill. We all need to remember there are over 700 pegmatite outcrops - how many are in TA 1, 2 & 3 - a small proportion of over 700!
The fact that Tony has not included additional rock chip samples in announcements since 21 March makes it clear he is not using them to hype the already impression drill hole assays. It is obvious the rock chip sample assay are key to know where the high priority areas lie and where to drill as shown by the above images.
AZS Price at posting:
$2.72 Sentiment: Hold Disclosure: Held
