ASX: AZS 19 March 2013 Azure Sells Non-Core Mexican Projects Azure Minerals Limited (ASX: AZS) (“Azure”, “the Company”) is pleased to inform shareholders that the Company has sold two of its Mexican projects – the Estacion Llano and San Juan projects, located in the state of Sonora, Mexico (see Figure 1) – for US$100,000.
The sale of these two non-core projects is in line with Azure’s strategy of gaining value from its projects, while also seeking new opportunities through the acquisition of projects which have significant potential and are suitable to joint venture to major corporations or where Azure’s exploration expertise can quickly add value.
Azure’s Managing Director, Tony Rovira, commented: “We’re pleased to have been able to sell two of our non-core assets, thereby gaining value from projects that would otherwise have continued to remain inactive. Although we consider both of these properties to have some potential, they were unlikely to receive attention while we focus our energies on very high value projects such as the high grade copper- gold-silver Promontorio project.” FIGURE 1: Project Location Plan -ENDS-Victoria Thomas
Six Degrees Investor Relations
Ph:+61 3 9645 7567
or visit www.azureminerals.com.au
About the Company:
Azure Minerals Limited is an Australian mineral exploration company focused on developing mining projects in the richly mineralised Sierra Madre Occidental mining province in northern Mexico. Azure’s key projects are the high grade Promontorio copper-gold-silver project, the El Tecolote copper-zinc project and the La Tortuga porphyry copper project.
Promontorio has a JORC Mineral Resource of 502,000 tonnes @ 4.7% Cu, 2.1g/t Au & 99g/t Ag. Metallurgical testwork produced high grade copper-gold-silver concentrate with excellent metal recoveries. A positive Pre-Feasibility Study demonstrating strong economic viability of the project has been completed. Recent drilling identified further high grade copper mineralisation, indicating potential for a significant resource upgrade. Updated Mineral Resource is expected in April 2013.
Exploration for skarn copper-zinc and porphyry copper deposits continues on El Tecolote and La Tortuga projects in joint venture with the Japanese Government corporation JOGMEC. JOGMEC may earn a 70% interest in El Tecolote by spending US$13 million, with total expenditure to date of US$3.1 million. JOGMEC may earn a 51% interest in La Tortuga by spending US$3.0 million, with total expenditure to date of US$2.6 million. Azure is the operator and manager of both joint ventures.
JOGMEC is a wholly-owned Japanese Government corporation established to assist in the stable supply of oil, gas and mineral resources to the Japanese economy. JOGMEC seeks to gain entry into high-potential mineral exploration projects through providing funding and technical assistance, with a view to the later introduction of commercial Japanese interests.
Competent Person Statement:
Information in this document that relates to Exploration Results and Mineral Resources 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 of Azure Minerals Limited. Mr Rovira has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Rovira consents to the inclusion in the documents of the matters based on his information in the form and context in which it appears.
