Azure Minerals is 60%-owner and operator of the Andover Lithium Project, located in Western Australia. An accelerated drilling program with 8 diamond rigs is currently defining a lithium deposit that is likely to be one of the largest (Top 5) in the world.
An Exploration Target of 100Mt - 240Mt @ 1.0% Li2O - 1.5% Li2O has been published. A maiden Mineral Resource Estimate is expected in Q2 of 2024 and a PEA / Scoping Study is expected to be completed by Q4 2024.
Given the pegmatites have >2,000m strike lengths, 100m – 200m true widths, depth extents to >400m below surface, and lithium grades of 1.2% Li2O to 1.5% Li2O, and the overall abundance of as-yet untested outcropping pegmatites that contain high-grade lithium mineralization at surface, Azure is confident that Andover has the potential to host one of the largest lithium resources globally.
Azure Minerals is currently under a A$1.7B takeover offer.