KEY POINTS:
- Maiden drilling program completed with 6 holes drilled for 480m
- Assay results expected from late November
Azure Minerals Limited (ASX: AZS) (“Azure” or “the Company”) is pleased to advise that the Company’s first drilling program has been completed on its 100%-owned Sara Alicia gold-cobalt project, located in the northern Mexican state of Sonora (see Figure 1).
The reconnaissance drilling (see Photo 1) was designed to test the zone of high grade gold and cobalt mineralisation which was historically exploited by small-scale underground mining in the 1930s, and further outlined by Azure’s sampling of surface outcrop and underground exposures which returned high grades up to maximum values of 39g/t gold and 7% cobalt (refer ASX announcement of 23 August).
This initial drilling program comprised six holes totalling 480m of diamond core (see Figure 2 for hole locations). The drilling was designed to test around the old mine workings and beneath the outcropping gold and cobalt mineralisation to determine potential grade, width and orientation of the mineralised zone.
Core logging identified carbonate rocks intruded by a granodiorite porphyry, causing strong alteration and mineralising reactions in the limestones, forming a skarn horizon enriched with garnets, magnetite and sulphides.
Each drill hole was sampled in its entirety and dispatched to the Bureau Veritas laboratories in Hermosillo, Mexico, and Vancouver, Canada for precious metal and base metal analyses respectively. Due to a very busy northern hemisphere field season, the turnaround time for sample analysis in Vancouver is currently between four and six weeks. Assay results for the Sara Alicia holes are expected between late November and early December.
Competent Person Statements:
Information in this report that relates to previously reported Exploration Results has been crossed-referenced in this report to the date that it was reported to ASX. Azure Minerals Limited confirms that it is not aware of any new information or data that materially affects information included in the relevant market announcements, and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed.
For further information, please contact:
Tony Rovira
Managing Director
Azure Minerals Limited
Ph: +61 8 9481 2555
Media & Investor Relations
Michael Weir
Citadel-MAGNUS
Ph:+61 8 6160 4903
