Exploration companies tend to show visuals in the beginning of the drilling campaign to give an indicator of how things are looking for the first few holes. After that it's usually assays only.
AZS is far beyond the point of showing visuals (ie: they're much more advanced now). If they show visuals now it serves no point but to pump the share price - better to just release assays.
Also, see this message i got from Azure
back inMay when i was asking them for more visuals on later holes that had yet to be assayed:
AtAzure, we would usually love to be releasing visual estimates of spodumene mineralisation in the diamond drill holes we are drilling at Andover. However, Azureand the exploration industry more widely, have recently been given guidance from the ASX that it is their strong preference that companies no longer report such visual estimates. Below is part of their recent Guidance Note:
ASX Compliance Update no. 04/23
21 April 2023
ASX does not encourage the reporting of estimates of mineralisation based only on visual observations. ASX’s existing guidance states that it would generally be inappropriate for an entity to comment about the grade or quality of mineralisation in the absence of an assay. In many cases, information derived solely from a visual inspection of a core sample before it has been assayed and analysed could give a misleading impression of the extent of mineralisation.
ASX will not hesitate to take action if it considers that an announcement does not comply with the Listing Rules. The action that ASX may take includes rejecting the announcement or requiring a retraction or correction. ASX may suspend trading in the entity’s securities until appropriate corrective action is taken by the entity.
It is most likely thatAzurewill no longer be reporting visual estimates of spodumene mineralisation (unless the situation is very unusual and the Company can justify it to the ASX) and from now on will only be reporting assays.
