HIGHLIGHTS:

• 2.4m @ 15.5% Zn+Pb in OPDH-032
• 7.4m @ 15.9% Zn+Pb in OPDH-049
• 2.8m @ 19.0% Zn+Pb & 3.7m @ 15.6% Zn+Pb in OPDH-056
• 3.5m @ 13.2% Zn+Pb in OPDH-061
• 4.6m @ 15.0% Zn+Pb in OPDH-079
• Resource drill-out program expanded by an additional 40 drill holes (an extra 3,000m)
• 152 holes completed to date at Oposura for 9,800m; assay results received for 89 holes
• Scoping Study / PEA remain on track for delivery in Q3 2018

Azure Minerals Limited (ASX: AZS) (“Azure” or “the Company”) is pleased to advise that resource definition drilling of the Company’s flagship Oposura Project continues to deliver solid and very encouraging results. The initial mineral resource estimate is due in May and the release of the Scoping Study / Preliminary Economic Assessment is expected in Q3 2018.

Rock chip sampling of outcropping mineralisation at the West Zone returned individual grades up to 43.7% Zn and 29.6% lead, with combined grades up to 59.6% Zn+Pb (see Table 1).

Drilling along strike from this mineralised outcrop intersected high-grade zinc and lead sulphide mineralisation which extends at shallow depths over an area of more than 400m (east-west) by 400m (north-south), with excellent internal continuity of the horizontal mineralised zone. The mineralisation remains open to the north and east.

Some of the better mineralised intersections from the West Zone include:

• 2.4m @ 15.5% Zn+Pb in OPDH-032 from 15.65m (lower zone)
• 7.4m @ 15.9% Zn+Pb in OPDH-049 from 60.45m (lower zone)
• 2.8m @ 19.0% Zn+Pb in OPDH-056 from 12.30m (newly identified upper zone)
• 3.7m @ 15.6% Zn+Pb in OPDH-056 from 78.25m (lower zone)
• 3.5m @ 13.2% Zn+Pb in OPDH-061 from 43.05m (lower zone)
• 4.6m @ 15.0% Zn+Pb in OPDH-079 from 56.05m (lower zone)

With the mineralisation being mostly horizontal, the vertical height of the mineralised zone continues to be optimal for a simple room and pillar underground mining operation utilising industry-standard mechanised mining equipment.

A second horizontal zone of mineralisation has also been discovered lying above the main zone, hosted within the upper Candelaria Formation. This unit overlies the sedimentary Arenillas Formation which typically hosts the main zone of massive sulphide mineralisation near its lowest level where it sits in contact with the underlying Revancha Rhyolite (refer Figure 1). The importance of this new mineralised horizon will be determined as further results are received.

To date, drilling in the West Zone has comprised 64 holes for 4,936m (refer Figure 2), and assay results have been received for 26 drill holes. Samples from the remaining holes are currently being processed and assay results will be released as they become available.

To optimise and expand the mineral resource, Azure significantly increased the number of drill holes within both the East and West zones, and also expanded the overall resource drill-out area. Consequently, the total number of drill holes for the resource drill-out has increased from 120 to 160 and the number of drilled metres from the original estimate of 7,000m to approximately 10,000m.

This expansion of the drill program has resulted in an extra two months of drilling, and accordingly a commensurate increase in time to complete the resource estimate. The resource estimate is now expected to be completed in late May to June. These extensions are not expected to affect the delivery of the Scoping Study / Preliminary Economic Assessment, which is still scheduled for completion in the third quarter of 2018.

-ENDS-

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or visit www.azureminerals.com.au

Competent Person Statements:

Information in this report that relates to Exploration Results for the Oposura Project is based on information compiled by Mr Tony Rovira, who is a Member of The Australasian Institute of Mining and Metallurgy and fairly represents this information. Mr Rovira has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Rovira is a full-time employee and Managing Director of Azure Minerals Limited and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Original Article: http://azureminerals.com.au/wp-content/uploads/2018/03/180322.pdf