Coongan Gold Project (Azure 70% / Creasy Group 30%)

Coogan is located in the eastern Pilbara about 8km to the west of Nullagine and covers an area of 141km2. It adjoins the western boundary of Novo Resources’ Beatons Creek Gold Project (current resources of 903,000oz @ 2.53g/t Au in conglomerate, alluvial and reef gold).

There are numerous mineral occurrences and deposits reported in the immediate vicinity of Coongan, including gold to the northwest and east, copper to the north, Channel Iron Deposits (CID) to the south and tin, tantalum and lithium to the east. The project is considered prospective for alluvial and conglomerate and bedrock-hosted gold mineralisation, similar to that hosted at Beatons Creek.

Early-stage exploration undertaken by the Creasy Group focused on the western half of the project area and comprised surface geochemical sampling (stream sediment and rock chip) and a close-spaced detailed aeromagnetic survey. Several target areas were identified that warrant follow-up with infill surface sampling, detailed rock chip sampling and geological mapping.

Azure has completed aeromagnetic survey coverage over the eastern half of the project area and future work will comprise similar reconnaissance surface exploration to the western half.