Azure Minerals Limited (ASX: AZS) (“Azure” or “the Company”) is pleased to announce that it has received strong assay results from its first sampling program at the Alacrán Copper Project, located in the Mexican state of Sonora.

HIGHLIGHTS:

• First sampling of the old Palo Seco and El Alacrán mines returns high grade assays up to:

• Polymetallic mineralisation outcrops along the Palo Seco to El Alacrán trend for nearly 1km
• Channel sampling across the breccia zone at Palo Seco returns 12m @ 118g/t Silver

Azure’s Managing Director, Tony Rovira, welcomed these results, stating, “These results support our belief that this under-explored property has excellent potential, through targeted exploration using modern techniques, to define high grade precious and base metal deposits. Hence our initial focus will be on exploring in areas where historical mining, but no recent exploration, has been undertaken, at prospects like El Alacrán, Palo Seco and La Morita.”

DETAILS

Initial reconnaissance work comprised sampling of outcrop and mine dumps at the historical mine workings of El Alacrán and Palo Seco (see Figure 1). These old mines were substantial underground mining operations, owned and operated by American companies in the early 20th Century. Production from these mines ceased in 1913 due to turmoil during the Mexican Revolution, when mining was still in full production. Operations did not recommence and no modern exploration has taken place in this area.

Assay results (see Table 1) support historical accounts of high grade, silver-rich polymetallic ore being produced from El Alacrán and Palo Seco. The 12m channel sample grading 118g/t silver comprised three continuous, 4m long, samples collected across the surface exposure of the breccia zone exposed within the Palo Seco open cut adjacent to the mine shaft.

During 2015 Azure’s exploration program is expected to comprise mapping, surface and underground mine sampling, and geophysics comprising aeromagnetic and Induced Polarisation (IP) surveys. It is expected that, depending upon results from this early stage exploration, the Company will be drilling identified targets by mid-2015.

Table 1: Assay results from sampling of old mine workings at Palo Seco and El Alacrán

BACKGROUND

Alacrán is located in northern Mexico approximately 50km south of the USA border. The property covers 54km2 of highly  prospective exploration ground in the middle of North America’s most prolific copper-producing district that extends from northern Mexico into Arizona.

The property lies close to several large copper  mines, including the world class, giant Cananea Copper Mine where annual copper production capacity is expected to reach 510,000 tonnes in 2015.

Azure recently signed an Agreement with Minera Teck S.A. de C.V. (“Teck”), a Mexican subsidiary of Teck Resources Limited to acquire 100% of the property, subject to an underlying back-in right retained by Teck. (See ASX release dated January 7, 2015.)

Table 2: Details of sampling from Palo Seco and El Alacrán

-ENDS-

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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/2015/01/High-Grade-Assays-at-Alacran.pdf