HIGHLIGHTS

• A new zone of high grade silver mineralisation over an area of 350m x 150m has been identified north of Mesa de Plata

• The zone remains open along strike to the north

• Better silver assays from surface sampling include:

• Mineralisation appears to be consistent across the plateau, with 37 of 56 samples grading >30g/t Ag and 12 samples grading > 100g/t Ag

• Planning for a drill program to test this new zone is underway

Azure’s Managing Director, Tony Rovira, stated: “Our ongoing exploration activities throughout the Alacrán property continue to generate positive results for additional silver and gold prospects. In this case, sampling to the north of Mesa de Plata has returned some of the highest silver grades so far encountered at Alacrán. We’ve submitted permit applications and we’re looking forward to drilling this exciting prospect as soon as possible.”

SURFACE SAMPLING RESULTS

Mapping and surface sampling activities are ongoing in several areas across the Alacrán project. This report provides information on high grade silver assays returned from an area located to the north of the Mesa de Plata silver mineralised zone (see Figure 1).

This new prospect, locally-termed Mesa de Plata Norte (MDP Norte), appears to form a northerly continuation of Mesa de Plata (see Figure 2), where silver mineralisation is hosted in silicic rocks that form a prominent ridge.

Resource drilling at Mesa de Plata terminated at the northern end of the ridge where a steep slope drops more than 75m in elevation. At the base of this slope, a gentle north-sloping plateau is formed, covering an area of at least 350m (north-south) by 150m (east-west).

Like the Mesa de Plata ridge, the MDP Norte plateau is erosion-resistant, characterised by large outcrops of residual silica, silicified breccia and silicified volcanic rocks (see photos in Figures 4 & 5).

Azure has completed a two-stage sampling program across these outcrops, collecting 56 rock chip channel samples within an area of 350m x 150m (see Figure 3). The majority of the samples returned high grade silver assays (37 of 56 samples returned silver grades >30g/t Ag with 12 samples returning >100g/t Ag). Encouragingly, silver mineralisation is present throughout the MDP Norte plateau and the tenor of silver grades are significantly higher than those returned from surface sampling of the nearby Mesa de Plata ridge.

The Company has designed a reconnaissance drilling program to test the MDP Norte prospect and application for the necessary permit has been submitted. 

For further information, please contact:

Information in this report that relates to Exploration Results is based on information compiled by Mr Tony Rovira, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Rovira is a full-time employee and Managing Director of Azure Minerals Limited. Mr Rovira has sufficient experience which is relevant to the styles of mineralisation and types of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Rovira 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://www.azureminerals.com.au/azs//assets/2016/02/160210-New-Silver-Zone-Discovered.pdf