Azzuro Hits 11.95% Copper at Red Hill as Phase 2 Drilling Gets Underway

Red Hill delivers high-grade copper-gold in final Phase 1 assay batch

Azzuro Resources (ASX: AZ9) has released the final assay results (Batch 4) from its 2026 Phase 1 drilling program at the 100%-owned Red Hill Copper-Gold Volcanogenic Massive Sulphide (VMS) Project in Mongolia. The headline intercept from MU2610A returned 5.0m @ 4.92% Cu, 0.94g/t Au, 5.05g/t Ag from 142.5m, including 2.0m @ 11.95% Cu, 1.99g/t Au, 11.80g/t Ag from 143.85m.

Copper-gold VMS mineralisation is now confirmed over approximately 550m of strike and to approximately 150m below surface, remaining open to the east, west, and down-dip. Phase 2 drilling has commenced, with downhole electromagnetic (DHEM) surveying now underway across the 2026 diamond drillholes.

Phase 1 drilling results at a glance

Batch 4 delivered four headline outcomes across the four reported drillholes:

• MU2610A (massive sulphide confirmation): High-grade copper-gold-silver with a zinc credit confirmed — 5.0m @ 4.92% Cu, 0.94g/t Au, 5.05g/t Ag, 0.41% Zn from 142.5m, including 2.0m @ 11.95% Cu, 1.99g/t Au, 11.80g/t Ag, 0.78% Zn from 143.85m
• MU2610A (shallow high-grade gold): A separate shallower zone returned 1.9m @ 6.80g/t Au, 67.30g/t Ag from 49.9m, opening a new area for gold mineralisation south of the previously identified corridor
• MU2609 (shallow gold corridor infill): Confirmed gold mineralisation within the existing ~600m gold corridor — 10.8m @ 0.45g/t Au, 10.72g/t Ag from 7.0m, including 3.0m @ 0.84g/t Au, 9.20g/t Ag from 12.6m
• MU2609 (new copper zone): A new, additional copper zone intercepted north of the gold corridor — 3.0m @ 2.40% Cu from 44.0m
• MU2611: No significant intercept above cut-off; the SW gravity target was not tested by this hole and will be assessed via the ongoing DHEM survey

Silver and zinc credits exist across multiple intercepts and add to the polymetallic value of the system. The table below summarises the key Batch 4 intercepts meeting the stated cut-off criteria (0.2% Cu or 0.2g/t Au, minimum 1.0m composite length). All intercepts are reported as downhole lengths; true widths have not been definitively determined.

What is a VMS deposit — and why does it matter here?

A Volcanogenic Massive Sulphide (VMS) deposit forms on the ancient seafloor, where hot metal-rich fluids expelled by submarine volcanic activity precipitate concentrated copper, gold, silver, and zinc in lens-shaped bodies. Think of them as natural pressure cookers that concentrate multiple metals in one location.

Both features are visible at Red Hill. The series of copper-gold-silver intercepts returned by MU2610A between 96m and 137m (including 3.0m @ 0.78% Cu from 96.0m and 4.0m @ 0.19% Cu from 133.0m) represents exactly the kind of broad mineralised halo the VMS model predicts surrounding the discrete high-grade massive sulphide core confirmed at depth.

This model underpins Azzuro’s JORC Exploration Target for Red Hill, shown below.

The potential quantity and grade of the Red Hill Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource, and it is uncertain whether further exploration will result in the estimation of a Mineral Resource. The Exploration Target has been prepared and reported in accordance with the JORC Code (2012).

New zones expand the Red Hill opportunity

A new copper zone north of the gold corridor

MU2609 returned 3.0m @ 2.40% Cu from 44.0m, which sits approximately 12m north of the shallow gold zone it was drilled to test. The announcement describes this as a new, additional zone of copper mineralisation not previously mapped — it is not a repeat of known mineralisation. This expands the footprint of copper-bearing material beyond the established gold corridor and adds a separate target for follow-up work.

A new shallow gold area identified south of the known corridor

MU2610 and MU2610A were drilled approximately 75m south-east of MU2604 and returned gold mineralisation that sits further south of the previously identified gold mineralisation corridor, opening up a new area. MU2610A’s headline shallow intercept of 1.9m @ 6.80g/t Au, 67.30g/t Ag from 49.9m is the key result here.

MU2610 encountered difficult drilling conditions, entering intensely oxidised and faulted ground from approximately 30m. Recovery was poor in several intervals, and the hole was abandoned at 47.4m. Despite this, gold mineralisation was confirmed in the recovered core, and MU2610A was re-drilled approximately 4m west of MU2610 with an adjusted azimuth, completing successfully to 153.0m.

Gan-Ochir Zunduisuren, Managing Director

“We have completed this final batch of assays on a high note. Not only have we confirmed mineralisation in the copper-rich massive sulphide and shallow gold zones, we have also identified additional mineralised areas for copper exploration to the north of previously identified mineralisation and a new area with gold.

A new phase of drilling is now commencing on the shallow gold zone, an area not included in our maiden JORC exploration target estimate. With DHEM surveying also underway, we are well placed to integrate this data and finalise high-impact copper-gold drillholes testing the exploration target as part of the current program.”

What comes next — Phase 2 drilling and DHEM integration

The near-term program is clearly sequenced:

1. DHEM surveying is now underway across the 2026 Red Hill diamond drillholes to help define the continuity of the massive sulphide system
2. Integration of gravity, resistivity, chargeability, and 3D gravity inversion datasets (Terra Resources Pty Ltd) with DHEM results to design high-impact copper-gold drillholes for the current program
3. Tight-spaced shallow gold drilling has commenced, focusing on high-grade areas not included in the maiden JORC Exploration Target — meaning positive results here would be additive to the existing conceptual resource case
4. Exploration Target testing program to commence following receipt of DHEM results, which may assist with targeting
5. Preliminary metallurgical flotation testing has commenced on representative copper-gold sulphide samples, with initial results expected in Q4 2026

The Phase 1 program found high-grade mineralisation in 8 of 14 holes drilled over approximately 550m of strike — a strong success rate that validates the geological model.

Investment thesis — what Batch 4 means for AZ9

Three compounding positives emerge from this announcement. The massive sulphide system has been confirmed and extended up-dip, with MU2610A intercepting it approximately 85m south of the previous MU2501 intercept. Two new mineralised zones have been identified beyond the known footprint: a copper zone north of the gold corridor and a new gold area to the south. Phase 2 drilling is already underway, with DHEM data expected to sharpen targeting considerably.

Gravity inversions indicate mineralisation is anticipated to extend at depth below currently reported intercepts, a concept that will be tested in the current program. The mining licence (valid to 2045, covering 79.14 hectares) is 100%-owned, providing unencumbered exposure to all upside. The commencement of preliminary metallurgical flotation testing is a meaningful signal of project maturation — the company is beginning to understand process economics, not just deposit geometry.

Ready to Explore the Red Hill Copper-Gold VMS Opportunity Further?

Azzuro Resources (ASX: AZ9) has confirmed high-grade copper-gold mineralisation across 550m of strike at its 100%-owned Red Hill Project in Mongolia, with Phase 2 drilling already underway and DHEM surveying set to sharpen targeting on a system that remains open in multiple directions.

Explore the full details of the Red Hill drilling results and Phase 2 programme by visiting the Azzuro Resources investor page on Discovery Alert, where you can track project developments as they unfold.