Azzuro Resources Drills Near-12% Copper at Red Hill Mongolia

Azzuro Resources Drills Highest Copper Grades Yet as Red Hill VMS System Expands to 550m Strike

Azzuro Resources (ASX: AZ9) has reported the third batch of assay results from its 2026 drilling programme at the 100%-owned Red Hill Copper-Gold Project in Mongolia, delivering the strongest copper grades recorded from the campaign so far. The Azzuro Resources Red Hill copper gold drill results in Mongolia confirm that the volcanogenic massive sulphide (VMS) system has now extended to close to 550 metres of strike, with mineralisation remaining open in every direction.

The results cover drillholes MU2604, MU2605, MU2606, MU2607 and MU2608, and reinforce the company’s characterisation of Red Hill as a large, multi-metal system carrying copper, gold, silver and zinc across a growing footprint in southwestern Mongolia.

Furthermore, every batch of assay results released from the 2026 programme has extended the known dimensions of Red Hill, and this third batch continues that pattern.

The Headline Numbers: Record Copper and High-Grade Gold From Surface

The standout result in this batch comes from MU2605, drilled approximately 124 metres west-northwest of MU2604, where the company reports a massive sulphide lens returned the highest copper grade of the entire 2026 programme:

• • 1.6m @ 11.94% Cu, 1.63 g/t Au, 30.13 g/t Ag and 0.84% Zn from 127.2m

Broader copper mineralisation was also confirmed surrounding that high-grade lens:

• • 7.0m @ 0.80% Cu and 0.19 g/t Au from 75.0m

• • 14.2m @ 0.55% Cu and 0.03 g/t Au from 113.0m

According to the announcement, these results support the company’s geological interpretation that higher-grade copper mineralisation becomes more concentrated toward the western portion of the Red Hill VMS system. Management says this finding has significant implications for how future drilling will be targeted.

MU2604, located roughly 124 metres east of MU2605, added broad polymetallic mineralisation:

• • 18.0m @ 1.02% Cu, 0.54 g/t Au and 12.14 g/t Ag from 74.0m

• • Including 4.3m @ 1.27% Cu, 1.41 g/t Au, 36.94 g/t Ag and 6.37% Zn from 87.8m

MU2606, in addition, extended the shallow high-grade gold corridor approximately 45–50 metres east of where it was first intercepted by due diligence hole MU2501 in 2025:

• • 6.0m @ 4.18 g/t Au and 9.22 g/t Ag from 18.7m

• • Including 3.0m @ 7.38 g/t Au from 19.7m

• • 2.0m @ 2.02 g/t Au and 35.65 g/t Ag from 34.0m

• • 2.0m @ 1.14 g/t Au and 12.1 g/t Ag from 10.7m

MU2608 pushed the copper footprint further west, consequently confirming mineralisation at that end of the system:

• • 5.0m @ 0.64% Cu from 63.0m

• • 6.0m @ 0.51% Cu from 79.0m

Batch 3 Results at a Glance

Managing Director Gan-Ochir Zunduisuren commented:

“MU2604 and MU2605 have returned the highest copper grades of our 2026 program, headlined by a massive-sulphide lens grading almost 12% copper in MU2605, while MU2606 confirms high-grade gold from close to surface. Together they show Red Hill is a large, fertile copper-gold system that continues to grow with each batch of results, now confirmed over close to 550 metres of strike and still open in every direction.”

What Is a VMS Deposit? A Beginner’s Guide

Volcanogenic Massive Sulphide (VMS) deposits are one of the more economically important deposit types in the mining sector, and understanding their formation helps explain why the Azzuro Resources Red Hill copper gold drill results in Mongolia have attracted such interest.

VMS deposits form on or near the seafloor when hot, metal-rich fluids expelled from volcanic vents mix with cooler seawater. The sudden temperature change causes metals — primarily copper, zinc, lead, gold and silver — to precipitate and accumulate in dense, high-grade sulphide lenses.

The term “massive” refers to the high concentration of sulphide minerals, typically greater than 60% of the rock by volume, which explains why individual intercepts can carry exceptionally high metal grades within relatively narrow widths.

Why Does This Matter for Investors?

• • VMS deposits are characterised by high metal grades concentrated in discrete lenses, meaning relatively small volumes of rock can contain significant metal value.

• • They are polymetallic by nature. The same ore body can host copper, gold, silver and zinc, providing multiple potential revenue streams.

• • VMS systems often occur in clusters, meaning a discovery in one area can point to additional deposits nearby — a factor that may increase the exploration upside across the broader Red Hill tenement.

Quick Glossary

A System That Has Grown With Every Drill Batch

One of the more notable aspects of the Red Hill announcements to date has been the consistent extension of the deposit’s known dimensions. Each assay batch released from the 2026 programme has added to the system, and this batch is no exception.

The confirmed strike length now stands at close to 550 metres, with the VMS system reported as remaining open:

• • To the west, where MU2605 and MU2608 have confirmed copper grades that appear to strengthen in that direction

• • To the east, where MU2607 did not intercept substantial mineralisation in the current drillhole but the company has not ruled out eastern extensions at greater depth

• • Down-dip, where the massive sulphide lens has not been closed off with depth

Separately, the near-surface gold mineralisation corridor in the northern part of Red Hill is now confirmed across a roughly 600-metre corridor, with MU2606 extending the high-grade portion approximately 45–50 metres east of its previously known limit.

MU2606 also ended in 7.0m of copper mineralisation at 0.33% Cu from 53 metres depth, which the company suggests could point toward further exploration targets north of current occurrences.

The company’s geological interpretation that the western portion of the system hosts the strongest copper grades is now supported by results from two consecutive drillholes, MU2605 and MU2608. Management says this lends credibility to a vectoring model that could guide future targeted drilling.

2026 Drilling Programme: Status Snapshot

Four drillholes — MU2609, MU2610A, MU2611 and the abandoned MU2610 — remain pending assay results. The company has indicated further newsflow from Red Hill is expected over the coming weeks, and additional results from the Copper Ridge prospect are also pending.

What Comes Next: Catalysts on the Horizon

According to the announcement, Azzuro has outlined several near-term milestones expected to shape the Red Hill story over the coming months:

1. 1. Remaining 2026 drillhole assays. Results from MU2609, MU2610A, MU2611 and the Copper Ridge prospect are expected within weeks.

1. 1. Metallurgical testwork commencing Q3 2026. This step is intended to help the company understand how the ore responds to processing — a prerequisite for assessing commercial viability under any future development scenario.

1. 1. 3D IP geophysical survey of the Oval Cu-Ni area in August 2026. The Oval copper-nickel discovery is a separate asset in Azzuro’s portfolio, and this survey is intended to help define drill targets at that project.

1. 1. Integration of data and planning of further drilling. Geological and geophysical data from the 2026 programme will be compiled to help design the next phase of drilling at Red Hill.

1. 1. Downhole electromagnetic (DHEM) surveys. PVC casing has already been installed in diamond drillholes to facilitate future DHEM surveys, which the company notes can help detect conductive bodies adjacent to existing holes.

The Investment Case: Factors Relevant to Red Hill

Several factors from this announcement are relevant to how investors may assess the Red Hill project going forward.

Is the Scale Potential Still Undefined?

With the system confirmed over close to 550 metres of strike and open to the west, east and down-dip, the deposit’s full extent has not yet been established. Each drilling programme reported to date has extended its known boundaries, which may be a meaningful consideration for investors assessing long-term value.

Grade appears to strengthen toward the west. The company’s interpretation that copper grades improve in that direction provides a geological vector for future drilling. The near-12% copper result in MU2605 is a notably high grade for a massive sulphide lens at this stage of exploration.

The system is polymetallic. Copper, gold, silver and zinc have all been confirmed in meaningful quantities across multiple drillholes, which may broaden the range of potential economic scenarios. Furthermore, the shallow gold-silver corridor in the northern part of Red Hill — now confirmed across approximately 600 metres and from depths as shallow as 10.7 metres — represents what the company describes as a potentially separable, near-surface opportunity.

Mongolia’s operating environment is another consideration. The company has referenced the low operating cost environment in Mongolia as a factor in its development thinking. The project sits within a 30-year mining licence, valid to 2045, covering 79.14 hectares.

In addition, the pending 3D IP survey at the Oval Cu-Ni discovery in August 2026 means Azzuro is advancing exploration across two separate metal systems concurrently, adding further optionality to the overall portfolio.

Frequently Asked Questions

What Is the Current Confirmed Strike Length of the Red Hill VMS System?

According to the announcement, the system is now confirmed over close to 550 metres of strike and remains open to the west, east and down-dip.

What Was the Highest Copper Grade Reported in This Batch of Results?

MU2605 returned 1.6m at 11.94% Cu, 1.63 g/t Au, 30.13 g/t Ag and 0.84% Zn from 127.2m, described by the company as the highest copper grade of the 2026 programme to date.

Which Drillholes Remain Pending Assay Results?

MU2609, MU2610A, MU2611 and the abandoned MU2610 are awaiting assay results, alongside further results from the Copper Ridge prospect.

What Are the Next Milestones for Azzuro Resources?

The company has flagged remaining 2026 assay results, metallurgical testwork commencing in Q3 2026, and a 3D IP geophysical survey at the Oval Cu-Ni area planned for August 2026.

Key Takeaway

The Azzuro Resources Red Hill copper gold drill results in Mongolia have established a growing VMS system now confirmed over close to 550 metres of strike, with peak copper grades approaching 12% and gold mineralisation from near surface. With pending assay results, metallurgical testwork and a second project catalyst scheduled for August 2026, the company has outlined several near-term developments that investors will be watching closely.

Want to Learn More About Azzuro Resources and the Red Hill Project?

With the Red Hill VMS system now confirmed over close to 550 metres of strike, record copper grades of nearly 12% from the 2026 drilling programme, and multiple pending assay results still to come, Azzuro Resources (ASX: AZ9) is shaping up as a compelling copper-gold exploration story in Mongolia. To explore the investment case further and stay across the latest developments at Red Hill and beyond, visit azzuroresources.com.