OPOSURA EAST ZONE RESOURCE DRILLING COMPLETED

HIGHLIGHTS:

• Rock-chips up to 8.3% lead and 2.3% zinc discovered outside of the resource area indicate further upside potential to the north
• Follow-up drilling to test for extensions to the resource area will continue
• Resource drilling within the East Zone at Oposura is complete with 76 holes drilled for 4,196m
• Assays received for 36 holes announced, with results from outstanding holes pending, to be released over coming weeks
• Geological modelling and resource estimation process has commenced

Azure Minerals Limited (ASX:AZS) (“Azure” or “the Company”) is pleased to advise that resource definition drilling of the known eastern mineralised zone (East Zone) at Oposura has been completed. Drilling the East Zone is part of a broader resource drill-out program (refer Figure 1) at Oposura designed to delineate mineralisation previously identified by historical exploration.

The East Zone resource drill-out program comprised 76 holes for 4,196m (refer Figure 2), and to date, assay results have been announced for 36 drill holes. Samples from the remaining holes are currently being processed and assays will be released in the near future.

Drilling is well advanced in the West Zone with 48 holes having been drilled to date for 3,696m, and the resource drill-out is expected to be completed within the next two weeks. The first batch of assay results from the West Zone is expected to be released shortly.

Geological modelling and resource estimation has commenced with the maiden resource ontrack to be completed in April 2018. This, along with other project development studies, will lead into the Scoping Study / Preliminary Economic Assessment, scheduled for the third quarter of 2018.

FURTHER EXPLORATION UPSIDE IDENTIFIED

Azure has also commenced a regional exploration program to identify potential for further base metal mineralisation within the Oposura project area, outside of the current Exploration Target zone. This comprises geological mapping and soil and outcrop sampling, specifically to the north and west of the resource drill-out area.

Mapping (refer Figure 2) to the north of the East Zone resource area has identified outcropping gossans and a specific marker horizon that is present within the Arenillas Formation wherever the East Zone mineralisation is found.

Portable XRF analysis of samples of the mineralised outcrop yielded anomalous zinc and lead results up to 8% Pb and 2.3% Zn¹. Results are shown in Table 1.

Table 1: Portable XRF zinc and lead results from Oposura surface sampling

Drilling has also confirmed the presence of mineralisation to the north of the East Zone, intersecting disseminated, semi-massive and massive sulphide mineralisation in several drill holes, including the most northerly drill hole OPDH-115 located approximately 150 metres to the north of previously known mineralisation (refer Figure 2).

This mapping and first-pass drilling of the northern extension of the East Zone is encouraging, and surface mapping and sampling will continue in this area to identify additional extensional opportunities beyond the currently defined mineralisation in the East Zone.

-ENDS-

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or visit www.azureminerals.com.au

Original Article: http://azureminerals.com.au/wp-content/uploads/2018/02/180214.pdf