Azzuro Res Plc Chess Depositary Interests 1:1
Azzuro Resources Zeroes in on Untested Copper Ridge Core
Azzuro Resources PLC, listed as Azzuro Res Plc Chess Depositary Interests 1:1 (ASX: AZ9), has reported Azzuro Resources Copper Ridge copper gold 3D IP survey results that define a clear, steeply oriented and entirely untested chargeability anomaly at its Copper Ridge copper gold prospect in southwestern Mongolia.
According to the ASX announcement dated 16 June 2026, the new survey indicates that the strongest part of the chargeable system lies largely beneath and to the south of the 2024 drillhole CRS01A2 and has not yet been drilled. Management has identified this as the highest-priority drill target defined so far at Copper Ridge, with a dedicated diamond drillhole (CRS05) planned.
The update is relevant for investors assessing Azzuro Res Plc Chess Depositary Interests 1:1, as it links a new geophysical target directly to existing copper gold mineralisation intersected in earlier drilling.
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What the 3D IP Survey Found at Copper Ridge
The 3D induced polarisation (IP) survey at Copper Ridge was completed in May 2026 by Mongolian contractor Dashmag Eng LLC. It covered a 750 metre by 750 metre block, collected on 50 metre spaced lines with 25 metre station spacing.
The survey achieved a modelled depth of investigation of around 375 metres. This is reported to be about three times deeper than the 2024 dipole dipole IP survey, which was limited to approximately 125 metres depth.
The resulting 3D chargeability model shows a discrete anomaly with the characteristics summarised below.
| Parameter | Reported Value |
|---|---|
| Survey coverage | 750 m Ă— 750 m block |
| Line spacing | 50 m |
| Station spacing | 25 m |
| 2024 DDIP depth of investigation | ~125 m |
| 2026 3D IP depth of investigation | ~375 m |
| Chargeability anomaly size (≥9 mV/V) | ~200 m Ă— 150 m in plan |
| Depth extent of anomaly | ~330 m below surface |
| High-intensity core | >20 mV/V, steep, near-vertical, below CRS01A2 collar and to the south |
| Status of anomaly core | Untested by drilling |
According to the announcement, the strongest part of the modelled chargeability (above 20 mV/V) is interpreted as a steep, near vertical body that extends below the depth of all existing drillholes. This core remains untested and sits largely beneath and to the south of the CRS01A2 collar.
Furthermore, the survey also covered three of the five historical drillholes at Copper Ridge (CRS01, CRS01A2 and CRS02). Holes CRS03 and CRS04 sit outside the surveyed block.
Key Insight: Best Hole Drilled the Flank, Not the Core
The reconciliation of the 3D IP model with existing drilling is central to the updated interpretation.
Drillhole CRS01A2, drilled in 2024, has been the best-performing hole at Copper Ridge so far. According to earlier announcements, it intersected 137.3 metres of semi continuous copper gold mineralisation within a 199.0 metre section, including:
- 20 m @ 0.21% Cu, 0.43 g/t Au from 7 m
- 30.9 m @ 0.24% Cu, 0.16 g/t Au from 76.3 m
- 33 m @ 0.25% Cu, 0.18 g/t Au from 113.5 m
The hole was terminated in mineralisation within a fault zone, so the copper gold system remained open at the end of the hole.
According to the 3D IP interpretation:
- CRS01A2 tracks along the northern flank of the chargeability anomaly.
- It was drilled towards the north northeast, progressively diverging away from the anomaly core with depth.
- The main chargeability core lies beneath and south of the collar and was not intersected.
By contrast, CRS02 was drilled in an area that the new model identifies as a low chargeability domain. This hole did not return significant assay results, and the absence of sulphide mineralisation is consistent with the subdued IP response.
This pattern provides a simple correlation:
- Elevated chargeability along the flank coincides with the copper gold mineralisation in CRS01A2.
- Low chargeability coincides with the barren results in CRS02.
"The 3D IP survey is a significant step forward for Copper Ridge. For the first time we can image the chargeable system well below the reach of our previous survey, and the result is a clear, discrete target. Our best hole at the prospect, CRS01A2, which ended in mineralisation, tracked only the northern flank of the anomaly. The strongest part of the modelled chargeability body lies largely beneath and to the south of the CRS01A2 collar and was not tested by the hole. We plan to move the rig to Copper Ridge and test the anomaly core once the current Red Hill program concludes," said Gan Ochir Zunduisuren, Managing Director of Azzuro Resources PLC.
For investors in Azzuro Res Plc Chess Depositary Interests 1:1, this flank versus core distinction highlights why the company has given priority to testing the newly defined central zone.
Educational Section: Understanding Induced Polarisation and Chargeability
For many investors, IP surveys and chargeability anomalies can appear highly technical. However, the Azzuro Resources Copper Ridge copper gold 3D IP survey results offer a practical example of how this method is used in copper gold exploration.
What Is Induced Polarisation (IP)?
Induced polarisation is a geophysical technique that measures how the ground responds to an electrical current.
- Electrodes are placed in the ground and a controlled electrical current is passed between them.
- When the current is switched off, the ground slowly releases the stored electrical charge.
- This delayed response is called chargeability.
In simple terms, rocks that contain more sulphide minerals (for example pyrite, pyrrhotite or chalcopyrite) tend to hold and release electrical charge more strongly. They therefore show higher chargeability values, measured in millivolts per volt (mV/V).
A 3D IP survey uses many measurements taken along multiple lines to build a three dimensional model of chargeability and resistivity beneath the surface, rather than just along single 2D lines.
Why Does IP Matter at Copper Ridge?
At Copper Ridge, previous drilling has shown that copper gold mineralisation occurs as:
- Disseminated and vein hosted pyrite, pyrrhotite and chalcopyrite
- Hosted within silicified, sericite altered and magnetite bearing metasediments
This style of sulphide mineralisation is well suited to IP, because the sulphides act as polarisable materials that increase chargeability.
The Copper Ridge dataset now demonstrates that:
- Where CRS01A2 intersected semi continuous copper gold mineralisation, the 3D IP model shows elevated chargeability along the flank.
- Where CRS02 was drilled in low chargeability ground, no significant mineralisation was intersected.
This geophysical geological match gives the company confidence to use chargeability as a direct targeting tool within this prospect.
What Are the Important Limitations of IP?
It is important to recognise what IP can and cannot indicate:
- IP responds to all polarisable sulphide minerals.
- It cannot distinguish copper bearing chalcopyrite from barren pyrite or pyrrhotite.
- As a result, a strong chargeability anomaly is a geophysical target, not a guarantee of economic copper content.
The ASX announcement explicitly notes that drill testing is required to determine whether the source of the anomaly is copper bearing. The existing copper and gold content in CRS01A2 provides encouragement, but does not confirm the character of the untested core.
Glossary of Key Terms
| Term | Plain-Language Explanation |
|---|---|
| Chargeability (mV/V) | A measure of how strongly the ground holds an electrical charge after current is switched off; higher numbers usually mean more sulphide minerals. |
| 3D IP survey | A geophysical survey that measures electrical properties in many locations to build a three dimensional picture of sulphide distribution underground. |
| Dipole dipole IP | An earlier IP configuration that generally gives 2D line-based results and shallower depth coverage compared with 3D IP. |
| IOCG (Iron Oxide Copper Gold) | A type of mineral system where copper and gold occur with iron oxides (such as magnetite) and associated alteration, often forming large deposits. |
| Chargeability anomaly | A zone in the IP model where chargeability values are higher than the surrounding rocks, suggesting a concentration of sulphides. |
| mV/V | Millivolts per volt, the unit used to express chargeability readings in IP surveys. |
Next Steps: Drill Testing the Anomaly Core
The ASX announcement outlines clear operational steps at Copper Ridge, built around diamond drillhole CRS05.
Planned Drillhole CRS05
CRS05 is planned as a single diamond hole designed to cross cut the untested chargeability core. According to the company:
- The hole will be positioned and oriented to intersect the steep, near vertical core zone defined in the 3D IP model.
- The final design is being optimised using combined 3D IP, geological, geochemical and magnetic datasets.
- The drill rig is expected to mobilise to Copper Ridge following completion of the current Red Hill drilling program within June 2026.
In the figures accompanying the announcement, CRS05 is shown in both plan and section view relative to the modelled chargeability body and historical holes CRS01, CRS01A2 and CRS02.
Further Geophysical and Interpretive Work
The company has also flagged several supporting activities:
- Extension of 3D IP coverage around the current surveyed area at Copper Ridge.
- Application of the same 3D IP method at the nearby Oval Cu Ni PGE prospect, where it is reported to be well suited based on prior work.
- Ongoing integration of 3D IP, geological, geochemical and magnetic data to refine the geological model and finalise drill designs.
For holders and prospective buyers of Azzuro Res Plc Chess Depositary Interests 1:1, these steps define a short term activity chain from current drilling at Red Hill to imminent testing of the Copper Ridge IP core.
Indicative Programme Timing
| Activity | Reported Timing |
|---|---|
| Completion of Red Hill drilling | Within June 2026 |
| Drill rig mobilisation to Copper Ridge | After Red Hill completion |
| Diamond hole CRS05 into anomaly core | Planned immediately post mobilisation |
| Extension of 3D IP coverage (Copper Ridge and Oval) | Planned follow up work |
Project and Geological Context at Copper Ridge
Copper Ridge is part of Azzuro's 100% owned Yambat Project (Exploration Licence XV 020515) in Govi Altai Province, southwestern Mongolia. The exploration licence covers 10,606.77 hectares and is held through a wholly owned Mongolian subsidiary, reported to be valid to 25 April 2027.
Key geological and regional points from the announcement include:
- Copper Ridge lies approximately 7 kilometres north of Azzuro's Oval Cu Ni PGE discovery.
- Surface mineralisation at Copper Ridge comprises a zone approximately 30 metres wide by 400 metres long.
- This zone is made up of silicified, magnetite altered andesitic volcanics and metasediments intruded by trachy rhyolite and granosyenite dykes.
- Drilling has indicated that copper gold mineralisation occurs as disseminated and vein hosted pyrite, pyrrhotite and chalcopyrite with magnetite, within strongly silicified and sericite altered metasediments.
- The prospect is interpreted as a potential iron oxide copper gold (IOCG) style system, although no Mineral Resource estimate has been reported at this stage.
To date, five scout diamond drillholes (CRS01, CRS01A, CRS02, CRS03, CRS04) have been completed at the prospect. Only three of these lie within the 3D IP survey block used for the current interpretation.
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Why the Copper Ridge Update Matters to Investors
The Azzuro Resources Copper Ridge copper gold 3D IP survey results and planned CRS05 hole have several implications for investors considering exposure through Azzuro Res Plc Chess Depositary Interests 1:1.
1. Geophysical Model Calibrated Against Drilling
The new 3D IP model has been checked against actual drill outcomes:
- CRS01A2 intersected semi continuous copper gold mineralisation in ground now shown to be on the northern flank of a chargeability anomaly.
- CRS02 intersected no significant mineralisation in a low chargeability zone.
This two point comparison is limited but, consequently, provides a practical test that chargeability at Copper Ridge is tracking sulphide distribution and, in this context, copper gold mineralisation. It supports the use of chargeability patterns to position future drilling, including CRS05 into the high intensity core.
2. Best Historical Hole Ended in Mineralisation but Missed the Core
CRS01A2 ended in mineralisation in a fault zone and did not close off the system at depth. The 3D IP model now indicates that:
- The strongest chargeability lies beneath and south of the collar.
- CRS01A2 diverged away from the anomaly core with depth.
In response, CRS05 is being designed specifically to cut directly across the core, which has a higher modelled chargeability (>20 mV/V) than the flank zone already known to host copper and gold.
3. Multi-Target Project Environment
Copper Ridge forms part of a broader multi commodity exploration portfolio focused on critical and base metals in Mongolia. The rig is currently active at Red Hill and is expected to move to Copper Ridge within weeks, indicating an active exploration pipeline across several prospects within the Yambat and Oval project areas.
4. Clear Near-Term Catalyst
The announcement outlines a near term operational sequence:
- Completion of Red Hill drilling.
- Mobilisation of the drill rig to Copper Ridge.
- Execution of CRS05 to test the untested anomaly core.
This sequence provides a defined upcoming catalyst for market participants tracking Azzuro Res Plc Chess Depositary Interests 1:1, with results from CRS05 likely to be closely watched as an initial test of the modelled IP core in a setting already shown to host copper gold mineralisation on its margins.
Ready to Dig Deeper Into Azzuro's Untested Copper Ridge Target?
With a high-priority diamond drillhole (CRS05) planned to test the untested chargeability core at Copper Ridge — a zone that sits beneath and south of the best-performing hole to date — Azzuro Resources is entering a pivotal exploration phase. For investors seeking to understand the full scope of the company's Mongolian copper gold portfolio, including the Yambat Project and the nearby Oval Cu Ni PGE prospect, visit www.asianbatterymetals.com to access the latest project updates, announcements, and investment information directly from the company.
