AZY (ASX) Ann: Quarterly Activities and Cashflow Reports-AZY.AX

Originally posted by Romann ↑

How AZY has a MC as low at 15m astounds me.

That review/summary of Minyari alone honestly makes me salivate.

Released findings of a comprehensive review (“Review”) of the Company’s recently acquired 100% owned Minyari and WACA tenure (“Minyari Dome”), which revealed significant high grade gold (with copper) mineralisation with strong exploration upside. Selected intersection highlights from prior drilling include:
o 38.0m at 4.47 g/t gold and 0.05% copper from 88.0m downhole MHC086-3 (100650 North; Diamond Drillhole)
o 35.5m at 3.16 g/t gold and 0.56% copper from 9.0m downhole MHR065-7 (100650 North; Reverse-Circulation Drillhole)
o 24.5m at 4.17 g/t gold and 0.31% copper from 18.0m downhole MHD-1 (100550 North; Diamond Drillhole)
o 35.0m at 2.89 g/t gold and 0.36% copper from 10.0m downhole MHC086-2 (100650 North; Diamond Drillhole)
o 15.0m at 4.64 g/t gold and 0.06% copper from 333.0m downhole MHC20002 (100000 North; Diamond Drillhole)
o 18.4m at 3.66 g/t gold and 0.21% copper from 37.9m downhole MHC0675-3 (100675 North; Diamond Drillhole)
o 21.5m at 3.06 g/t gold and 0.56% copper from 118.0m downhole MHC065-11 (100650 North; Diamond Drillhole)
o 9.00m at 6.68 g/t gold and 0.24% copper from 36.0m downhole MHR065-5 (100650 North; Reverse-Circulation Drillhole)
o 7.50m at 5.66 g/t gold and 0.38% copper from 22.5m downhole MHR055-3 (100550 North; Reverse-Circulation Drillhole)
o 8.50m at 4.02 g/t gold and 0.91% copper from 71.5m downhole MHC060-17 (100600 North; Diamond Drillhole):
Notes:
- All of the intersection highlights above are down-hole widths; and
- A full listing of all Minyari Dome drillhole locations, the intersections highlighted above, and additional drillhole intersections, along with supporting diagrams and maps is available in the Company’s report entitled “High Grade Gold Mineralisation at Minyari Dome” released on the 8 February 2016.

Other material highlights of Minyari Dome Review include:
o Minyari deposit drilled along 250 to 300 metres of strike and 160m across strike and is open in all directions.
o The WACA deposit has received only very limited drilling along 430m of strike and is open in several directions.
o Strong exploration upside – only 6 drillholes deeper than 140m below the surface at Minyari and WACA deposits – All of which intersected significant generally high grade mineralisation.
o Close to surface and potentially open pittable – Mineralisation commonly commences just 1 to 10m below the surface.
2
o Close to infrastructure – Telfer is 40km away, although no approach on usage of this infrastructure has been made to Newcrest Mining Limited, the owner of Telfer, at this time.
 Commenced an extensive Induced Polarisation (IP) electrical geophysical survey at the Citadel Project, being carried out as part of the initial $3 million expenditure commitment under the Company’s Farm-in Agreement with Rio Tinto Exploration Pty Ltd (“Rio Tinto”):
o IP survey to cover up to 16 target areas within a 400km2 region of the Citadel Project; and
o Geophysical contractor Zonge Engineering (Australia) engaged.
 Entered into an underwriting agreement with Veritas Securities Limited which ensures that the Company will receive total proceeds of $3.34 million from its listed 1 cent options expiring on 17 May 2016.
 Subsequent to Quarter end, received a Research and Development (“R&D”) Tax Incentive cash rebate from the Australian Tax Office of $204,000.

Expand

Then add the fully funded Citadel.

Sitting pretty.

No.	Vol.	Price($)
26	14226218	1.1¢

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25	14201663	0.011
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15	7739820	0.008
4	2250000	0.007

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13709155

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7739820

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2250000

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Price($)	Vol.	No.
0.012	11815248	12
0.013	10067216	7
0.014	6141789	9
0.015	3568929	8
0.016	4915631	11

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11815248

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3568929

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4915631

(20min delay)
Last 1.2¢		Change 0.001(9.09%)		Mkt cap ! $56.52M

Open	High	Low	Value	Volume
1.2¢	1.2¢	1.2¢	$42.55K	3.551M

Then add the fully funded Citadel. Sitting pretty.

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Then add the fully funded Citadel. Sitting pretty.

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