The Andover Complex: a new nickel district ASX: AZS 121 Mining - - PowerPoint PPT Presentation

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The Andover Complex: a new nickel district ASX: AZS 121 Mining - - PowerPoint PPT Presentation

Jun 02, 2023 220 likes •379 views

AZURE MINERALS IS BACK IN WA The Andover Complex: a new nickel district ASX: AZS 121 Mining Investment Tony Rovira Investor Presentation Managing Director @AzureMinerals 7-9 October 2020 Azure Minerals Ltd www.azureminerals.com.au 1

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www.azureminerals.com.au @AzureMinerals ASX: AZS

Tony Rovira Managing Director Azure Minerals Ltd

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121 Mining Investment Investor Presentation 7-9 October 2020

AZURE MINERALS IS BACK IN WA

The Andover Complex: a new nickel district

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Corporate snapshot

CORPORATE STRUCTURE 22 September 2020 Share Price A$0.20 Shares 242.2 million Options 5.85 million Market Cap A$48.4 million Cash A$4.0 million Debt

(Convertible Note: conversion @ A$0.145)

A$2.0 million MAJOR SHAREHOLDERS Creasy Group 19.1% Deutsche Balaton 18.0% Teck Resources Ltd 11.4% Directors & Management 1.5% Top 20 60.0%

2 $0.00 $0.05 $0.10 $0.15 $0.20 $0.25 $0.30 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Last Price

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Exploration & mining in WA is open for business with supportive commodity prices and thriving capital markets Diversifying across commodities and jurisdictions is reducing risk & increasing near- term upside Mexican projects remain a key component for Azure but activities restricted due to COVID-19 – drilling expected in November 2020

Refocus attention to Western Australia

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Quality nickel & gold projects in the Pilbara

4 PROJECTS ACQUIRED FROM MARK CREASY

Andover Nickel-Copper Project: 60% Azure / 40% Creasy Turner River, Meentheena & Coongan Gold Projects: 70% Azure / 30% Creasy

CREASY NOW 19.1% SHAREHOLDER IN AZS

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The Pilbara – a Tier 1 exploration & mining region

Hemi gold discovery

Andover: 70km2

New nickel-copper discovery by Creasy in layered mafic-ultramafic intrusion

Turner River: 450km2

Adjacent to De Grey’s Mallina Gold Project & Hemi gold discovery

Coongan: 223km2

Adjacent to Novo’s Beatons Creek Gold Project

Meenthena: 141km2

Explored by Creasy for epithermal gold since 1994

5 Andover: new nickel discovery Turner River: Hemi analogues? 5

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Andover nickel-copper project

Andover Project 70km2

First class infrastructure

  • Commercial flights
  • Highways, roads & rail
  • 2.5 hours from Perth airport
  • Power & scheme water
  • Cell phone coverage
  • Accommodation & services
  • Good access throughout
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New & unreported nickel discoveries by Mark Creasy

Exploration by Creasy in 2008-2020:

  • Mapping & sampling
  • VTEM & FLTEM surveys
  • RC drilling – 7 holes in April 2018
  • DHEM

Outcropping nickel-copper gossans Strong bedrock-hosted VTEM conductors 4 coincident VTEM / FLTEM targets drill tested 3 drill holes intersected nickel & copper sulphides in two separate locations Multiple targets remain untested

7 Target 2 Target 1

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Drilled by Creasy Group in 2018* – with nickel hits

ADRC002: 7m @ 2.62% Ni & 0.65% Cu from 43m; in 26m @ 1.03% Ni & 0.46% Cu Semi-massive and disseminated sulphides ADRC001: 4m @ 1.10% Ni & 0.80% Cu from 6m Gossan ADRC001: 2m @ 1.77% Ni & 0.53% Cu from 62m Sulphide stringers ADRC006: 2m @ 2.10% Ni & 0.44% Cu from 15m Semi-massive and disseminated sulphides

* Refer ASX announcement 17 July 2020 8

Target 1 Target 2

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PHASE 1 EXPLORATION PROGRAM August to December 2020 Geophysical (FLTEM) surveying

  • 10+ locations completed
  • Multiple targets identified

Diamond drilling

  • Highest priorities: Targets 1 & 2
  • 12 holes / ~3,000m
  • Starting 1st October 2020

Follow-up down-hole EM surveys

Exploration underway at Andover

Target 1

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Target 1: high priority for massive nickel sulphides

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Off-hole conductor 4,000-5,200 Siemens

Semi-massive, blebby and disseminated nickel & copper sulphide mineralisation High-tenor nickel sulphide mineralisation: maximum values of 4.66% Ni & 3.96% Ni In-hole DHEM conductors correlate with semi-massive sulphides Strong off-hole DHEM conductor indicates potential for extensive sulphide mineralisation down-dip & along-strike Initial 3 drill holes planned to test down-dip mineralised extensions

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  • Good access into and throughout the project area
  • Good outcrop including mineralised gossans
  • Drive-up drill targets

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Copper oxides in nickel-copper gossan Drill hole collar ADRC001

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ANDOVER: Continue exploration of new nickel-copper sulphide discoveries

  • Surface EM surveying completed
  • Initial 12 hole, 3,000m diamond drilling program underway
  • First assay results expected in late-October
  • Additional drilling planned for 2021

ALACRÁN (MEXICO): Expanding gold and silver resources

  • Diamond drilling of gold & silver targets in November

Priorities & near-term upside catalysts

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Mexico: Quality projects in Tier 1 mining district

Alacrán: silver & gold M & I resource

1: 32Moz Ag & 150,000oz Au

Includes high-grade Measured Resource at surface of:

  • 15.5 million ounces Silver in 1.8Mt @ 275g/t Ag

Diamond drilling to restart in November Oposura: zinc, lead & silver Indicated resource

2: 3.1Mt @ 5.0% Zn

2.7% Pb 18g/t Ag = 153,000t Zinc 84,000t Lead 1.8Moz Silver

1. Refer ASX: 1 December 2016 & 21 December 2016 2. Refer ASX: 8 May 2019

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www.azureminerals.com.au @AzureMinerals ASX: AZS

Thank you

For enquiries, please contact: Tony Rovira, Managing Director admin@azureminerals.com.au

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