Australia's largest stock trading and investment forum Australia's #1 stock forum

AZS

Click for more information

0.00%

$3.69 azure minerals limited

Ann: Quarterly Activity and Cash Flow Reports, page-20

First 20 Last

Share
Profile

Follow
Swift4

521 Posts.

263

28/04/23

22:18

Post #: 67518268
Share

Originally posted by Maccajohn: ↑

In reading the announcements it is very important to read them thoroughly and connect the dots. Most posters do not do this).

Yes, there was more information in the quarterly. I never formed the view the areas without the dark red marker were unmineralised, rather we just did not know if they were mineralised or not, I held the view they would contain some Li and it was about how thick they would be and the grade. The fact that these areas had minor visible spodumene is encouraging but whether they are high grade or not is unknown. They may indeed be high grade, who knows until we see the assays. I agree the 2 lower pegmatite zones may join closer to surface.

I also noted on page 7 they have over 700 pegmatite outcrops and have taken 793 rock chips (an average of about 1.13 per outcrop). As noted in the para before image 3 on page 7, they are still sampling untested pegmatites. Given they have 10 (even close to 20) or more samples from some pegmatite outcrops, even 5 in some smaller pegs then they must have a lot of untested pegmatite outcrops as noted by the use of ‘numerous’ ( ie hundreds) as the quote from page 7 states:

“Project-wide geological mapping and rock chip sampling of numerous as yet unsampled pegmatites is continuing and this work is expected to identify further drill targets.”

There is also one very important point which is worth emphasising - while they have 13 HIGH priority targets, that does NOT mean these are the only targets, ie they will have other targets. The above quote also notes they expect to identify ‘FURTHER’ targets from additional rock chip sampling - some may be high priority ones. How many targets will they end up with?

The next quote from page 7 is also worth noting especially the “potential to host substantial lithium resources”:

“The identification of abundant outcropping spodumene-rich pegmatites containing high grades of lithium at numerous prospects across the project area confirms the potential for Andover to host substantial lithium resources.”

The following quote from page 7 notes they are targeting (ie diamond rigs) Li closer to surface to understand the lithium grades directly below the MINERALISED pegmatite outcrops AP0011-12 - the assays from these holes will be fascinating (I assume these will be holes ANDD0206-8 ( see table on page 8) (holes 205-8 could be impressive and Iagree

“Drilling is now targeting the mineralised AP0011 and AP0012 pegmatites closer to surface to determine the relationship between the drill intersections of the spodumene-bearing pegmatites and the outcropping pegmatites that host high lithium grades at surface.”

The RC rigs will be targeting other pegmatite outcrops (ie NOT AP0011-12) as noted on page 7 (note the reference to ‘significant volumes of mi realisation’.:

Circulation (RC) drill rigs following receipt of requisite heritage clearances and. The targets will be other pegmatite outcrops that visually host spodumene, returned high lithium grades, and which demonstrate potential for significant volumes of mineralisation.”

I also noted this quote:

”Surface exposures range in size up to several hundred metres across and over a kilometre in length.”

That is some pegmatites are over 200m wide and over 1km long - no other lithium stock I have researched (except I think AVZ and I read that resource could end up be over 1bt even 2bt - look what’s happened to that resource - it may never be mined) has anything near these dimensions (PLS and LTR had only 20-30 width). Happy for someone to find any and if they do please let me know .

Everyone should do your own research in case my interpretation is incorrect of AZS announcements.

Expand

Your spot on regards AVZ. Brief llook at James Bay owned by AKE 60m by 200m. Sticks out of the ground like a wart. Still drilling I believe.

AZS Price at posting: 38.5¢ Sentiment: Buy Disclosure: Held
4 Upvote

0 Great analysis

Reply

Top Stories

Microcap Wrap: 5 explorers with news out today

AVA

Ava Risk Group expands US presence with A$0.7M Substation Deal

LRV

Larvotto identifies new exploration target at NSW's Hillgrove, boosting shares by nearly 20%

RCE

Recce's R327 found effective against E.coli during clinical trial

SS1

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

SVL

Silver Mines models five new calderas close to 396Moz Bowdens deposit

Week 26 Wrap: Cerberus of inflation barks – rents, electricity & fuel – and world watches two elders bicker

CMX

ChemX Materials kicks off first stage works at WA high purity alumina pilot

LU7

Lithium Universe (ASX:LU7) board visits Quebec to engage key stakeholders

Wealth Within weighs in on shock 4% inflation read – and stocks that could survive the gloom

There are more pages in this discussion • 4 more messages in this thread...

First 20 Last

Add AZS (ASX) to my watchlist

SPONSORED BY