Azure Minerals Makes “Spectacular” Lithium Discovery in Australia

• Azure Minerals (AZS) is an Australian company focused on exploring for lithium in Western Australia.
• The company's main asset is the Andover lithium project, where they are drilling with six drill rigs.
• The project has yielded wide and high-grade intersections of lithium mineralization in pegmatites, some of the best found in Western Australia.
• Azure Minerals has experienced a significant increase in share price and market interest due to the promising lithium discoveries.
• The company has a substantial cash position of around $20 million and plans to continue drilling with a potential 100,000-meter drilling program by the end of the year.

About Azure Minerals

Azure Minerals is an Australian mineral exploration company focused on lithium and nickel projects in Western Australia. The company owns a 60% interest in the Andover lithium project, where it has made a significant lithium discovery. Azure’s share price has increased substantially since drilling began at Andover, indicating strong investor interest.

Interview with Managing Director, Anthony Rovira

Massive Lithium Intersections at Andover

Azure is currently drilling at Andover with six rigs and has completed around half of a planned 40,000 meter program. Early results have revealed exceptionally wide, high-grade lithium mineralization hosted in pegmatites.

Managing Director Tony Rivera stated four drill holes have intersected over 100 meters grading 1.2% lithium and two have intersected over 50 meters at 1.2% lithium. He described these as “spectacular” results, with “very, very wide intersections” at “some of the best grades that have ever been found in Western Australia.”

Rivera believes Andover could become “one of the best lithium stories” he has been involved with. The project was originally explored for nickel, but a decision to “lift their eyes” led to the lithium discovery just eight months ago. Rivera credits legendary prospector Mark Creasy for identifying Andover’s potential.

Fast Track to Resource Definition

With Andover shaping up to be a world-class lithium deposit, Azure aims to fast track resource definition. The current 40,000 meter program should be completed by end of August, with potentially 60,000 more meters by year end. This could bring the total to 100,000 meters in 2019.

Strong results so far give Rivera confidence there will be “a lot more” exceptional widths and grades. Visual inspections of drill core already show extensive white spodumene, the main lithium ore mineral.

Results Catalyst for Fundraising

Azure has around A$20 million in cash, enough to fund 3-4 months of drilling. However, Rivera indicates capital will be raised when the time is right. This is likely after more results are out, providing a “solid base” for the raise.

Lithium Majors Come Calling

With such an impressive lithium discovery, Azure is receiving significant interest from major mining companies and institutional investors. Rivera has been speaking with several institutions and believes some have already been buying stock.

He says larger lithium companies operating in Australia have been calling to learn more about Andover. As drilling continues to demonstrate the project’s enormous scale, interest from lithium majors may become “aggressive” with buyout offers made to Azure.

Rapid Development or Takeover?

Looking ahead, Azure plans to advance Andover rapidly towards a scoping study and pre-feasibility. Ultimately though, Rivera believes a takeover is likely by an established lithium producer seeking to add Andover’s resources.

Azure could also change management and board to take Andover into production themselves. Either path should deliver substantial value to shareholders as Andover is confirmed as a world-class lithium deposit.

5 Key Takeaways for Investors

1. Azure has made a major lithium discovery at its Andover project in Western Australia.
2. Drilling has intersected exceptionally wide, high-grade lithium mineralization hosted in pegmatites.
3. Andover is shaping up to be one of the best lithium deposits globally.
4. Fast track resource definition is underway - up to 100,000 meters of drilling planned for 2019.
5. Takeover interest from major lithium producers is likely as Andover is confirmed as world-class.

Conclusion

With drilling progressing rapidly, investors can expect a significant pipeline of exploration results from Andover in coming months. Each new set of results will build the case that Andover is emerging as one of the most impressive lithium discoveries globally. Savvy investors may want to take a position in Azure Minerals before lithium majors come knocking.