What the Nine New Cu-Ni-PGE Anomalies at Oval and the DHEM Deployment Mean for Azzuro Resources

Sonal Goyal

29 September 2026 10:55 PM AEST

What the Nine New Cu-Ni-PGE Anomalies at Oval and the DHEM Deployment Mean for Azzuro Resources

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Azzuro Resources PLC (ASX:AZ9) released an ASX announcement on 7 September 2026 detailing highly positive first-stage 3D Induced Polarisation (3D IP) survey results from its Oval Cu-Ni-PGE project on the Yambat tenement in southwestern Mongolia. Nine highly prospective new resistivity anomalies were identified around the Oval intrusive body — the majority in areas and at depth not previously tested by drilling. Five Priority-1 targets have been defined and are described as drill-ready. Azzuro also announced the importation of a new Novaminex DHEM (Down-Hole Electromagnetic) system into Mongolia, currently being calibrated at the Red Hill project ahead of deployment over the Oval Cu-Ni area in September 2026.

3D IP Survey Results at Oval

The first-stage 3D IP survey identified nine highly prospective new resistivity anomalies around the Oval intrusive body, each independently supported by coincident chargeability, low-resistivity, and magnetic-constrained modelling consistent with the recently released JORC 2012 Exploration Target. The five Priority-1 targets (Ta-01 to Ta-05) are: Ta-01, indicating continuation of the mineralised intrusive system to depth beneath and beyond the deepest previous drillhole (OVD0522); Ta-02 to Ta-05, sitting at shallow depth, oriented parallel to the Oval intrusion, and described as drill-ready geophysical targets; and Ta-05, which extends south and southeast and is spatially coincident with a previously defined south FLEM plate.

DHEM System Deployment

A new Novaminex DHEM system has been imported by Azzuro into Mongolia and is being calibrated at the Red Hill project, with surveys planned over the Oval Cu-Ni area in September 2026. The DHEM system provides electromagnetic data within existing drillholes, enabling more precise delineation of conductive targets at depth before committing to a new drill programme. The 3D IP survey is expected to complete in Q3 2026, with further results to be reported.

About the Company

Azzuro Resources PLC holds the Yambat tenement in southwestern Mongolia, where it is advancing exploration across the Oval Cu-Ni-PGE project and the Copper Ridge Cu-Au prospect. The company published a JORC 2012 Exploration Target for Oval and Red Hill on 24 August 2026. Managing Director Gan-Ochir Zunduisuren noted a clear pathway toward a potential JORC 2012 Resource across the copper portfolio, setting the stage for an initial commercial study.

Risks

The nine anomalies are geophysical targets only — none have been drill-tested under the current programme. Geophysical anomalies do not guarantee economic mineralisation.

No drill programme has been announced or funded for Oval. Securing a rig and Capital for drilling is the critical next step.

Mongolia's exploration environment involves regulatory, logistical, and community engagement considerations that can delay timelines.

Azzuro is a small-cap exploration company; access to capital for an Oval drill programme depends on market conditions.

Cu-Ni-PGE deposits are complex mineralogically and metallurgically, requiring significant additional technical work before any development assessment.

What to Watch Ahead

Completion of the 3D IP survey in Q3 2026 and announcement of any additional anomalies from the second phase of surveying.

DHEM survey results over the Oval Cu-Ni area, which will sharpen drill target selection among the five Priority-1 targets.

Announcement of a drill programme and timeline for Oval — particularly for Ta-01 (depth extension) and Ta-02 to Ta-05 (shallow, drill-ready).

Any JORC 2012 Exploration Target or Resource update for Oval incorporating the 3D IP dataset.

Results from the CRS05 diamond drillhole at the Copper Ridge Cu-Au prospect, also referenced in the 7 September announcement.

FAQs

Q: What is 3D IP surveying and what does it detect?

A: 3D Induced Polarisation (3D IP) surveying is a geophysical technique that measures how rocks in the subsurface react to electrical currents. It identifies zones of high 'chargeability' — a property associated with sulphide minerals, including copper and nickel sulphides — and generates a three-dimensional map of anomalous subsurface zones. Combined with resistivity data, 3D IP helps identify areas that may host metallic mineralisation before drilling.

Q: What is a DHEM survey and how does it complement 3D IP?

A: A Down-Hole Electromagnetic (DHEM) survey is conducted by lowering an electromagnetic receiver into an existing drillhole and transmitting an electromagnetic signal from surface. It is particularly good at identifying off-hole conductive bodies — massive sulphide targets — that may have been missed or only partially intersected by the drillhole. DHEM is used to precisely locate and characterise anomalies identified by surface geophysics like 3D IP, narrowing targets for new drill holes.

Q: What is a Cu-Ni-PGE deposit and why is it strategically significant?

A: Cu-Ni-PGE (Copper-Nickel-Platinum Group Elements) deposits are magmatic sulphide accumulations associated with mafic or ultramafic intrusions. They can host economic concentrations of copper and nickel alongside platinum, palladium, rhodium, and other platinum group elements — all critical minerals in high demand for clean energy technology (EV batteries, catalytic converters, fuel cells). The Oval project targets mineralisation within and around a mafic intrusive system in southwestern Mongolia.

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