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
Corporate snapshot CORPORATE STRUCTURE 22 September 2020 MAJOR SHAREHOLDERS Share Price A$0.20 Creasy Group 19.1% Shares 242.2 million Deutsche Balaton 18.0% Options 5.85 million Teck Resources Ltd 11.4% Directors & Management 1.5% Market Cap A$48.4 million Cash A$4.0 million Top 20 60.0% Debt A$2.0 million $0.30 (Convertible Note: conversion @ A$0.145) $0.25 $0.20 $0.15 $0.10 $0.05 $0.00 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 2 Last Price
Refocus attention to Western Australia 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 3
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 4
The Pilbara – a Tier 1 exploration & mining region Turner River: Hemi analogues? Andover: 70km 2 New nickel-copper discovery by Creasy Andover: new nickel discovery in layered mafic-ultramafic intrusion Turner River: 450km 2 Adjacent to De Grey’s Mallina Gold Project & Hemi gold discovery Coongan: 223km 2 Hemi gold discovery Adjacent to Novo’s Beatons Creek Gold Project Meenthena: 141km 2 Explored by Creasy for epithermal gold since 1994 5 5
Andover nickel-copper project First class infrastructure • Commercial flights • Highways, roads & rail 2.5 hours from Perth airport • Power & scheme water • Cell phone coverage Andover Project 70km 2 • Accommodation & services • Good access throughout 6
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 Target 2 4 coincident VTEM / FLTEM targets drill tested 3 drill holes intersected nickel & copper sulphides in two separate locations Target 1 Multiple targets remain untested 7
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 Target 2 Sulphide stringers ADRC006: 2m @ 2.10% Ni & 0.44% Cu from 15m Semi-massive and disseminated sulphides Target 1 8 * Refer ASX announcement 17 July 2020
Exploration underway at Andover PHASE 1 EXPLORATION PROGRAM August to December 2020 Geophysical (FLTEM) surveying Target 1 • 10+ locations completed • Multiple targets identified Diamond drilling • Highest priorities: Targets 1 & 2 • 12 holes / ~3,000m • Starting 1 st October 2020 Follow-up down-hole EM surveys
Target 1: high priority for massive nickel sulphides 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 Off-hole conductor Strong off-hole DHEM conductor indicates 4,000-5,200 Siemens potential for extensive sulphide mineralisation down-dip & along-strike Initial 3 drill holes planned to test down-dip mineralised extensions 10
• Good access into and throughout the project area • Good outcrop including mineralised gossans • Drive-up drill targets Copper oxides in Drill hole collar nickel-copper gossan ADRC001 11
Priorities & near-term upside catalysts 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 •
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 13 1. Refer ASX: 1 December 2016 & 21 December 2016 2. Refer ASX: 8 May 2019
Thank you For enquiries, please contact: Tony Rovira, Managing Director admin@azureminerals.com.au ASX: AZS @AzureMinerals www.azureminerals.com.au 14
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