HIGHLIGHTS: 

• Wide zone of near-surface, high-grade gold and cobalt mineralisation intersected – mineralised zone is open in all directions
• Best gold intercept is:
  • DSA-03: 26.2m @ 8.6g/t Au including 12.6m @ 14.9g/t Au

Numerous high-grade gold assays, including: 66.2g/t, 33.9g/t, 28.1g/t, 25.7g/t

• Best cobalt intercept is:
  • DSA-03: 26.2m @ 1.26% Co including 6.35m @ 3.57% Co

Numerous high-grade cobalt assays, including: 6.62%, 4.24%, 4.04%, 3.06%

• Further gold-cobalt exploration is planned to extend this high-grade zone
• Separate copper-zinc-silver zone at Sara Alicia yet to be tested

** NOTE: Azure has completed its 1:20 share consolidation and will trade under ASX code “AZSDA” until 1st December 2017, when the code “AZS” will resume

Azure Minerals Limited (ASX: AZSDA) (“Azure” or “the Company”) is very pleased to advise that significant high-grade gold and cobalt mineralisation has been intersected in the Company’s first drilling program on its 100%-owned Sara Alicia project, located in Sonora State, Mexico.

Commenting on the drilling, Azure’s Managing Director, Mr Tony Rovira said: “This maiden drilling campaign has exceeded our expectations and confirmed the presence of high-grade gold and cobalt mineralisation over significant widths.

“The spectacular cobalt grades in hole DSA-03 are up there with the highest I’ve ever seen and, encouragingly, the mineralisation starts at surface and remains open in all directions. These wide, high-grade zones host strong gold mineralisation consistently assaying in the range of 10g/t to 60g/t and cobalt grading from 1% to 6%; see core photos on Page 2.

“We believe there’s good potential for a high-value body of gold and cobalt mineralisation to be defined at Sara Alicia, and further exploration will be undertaken to identify the size potential.” 

DETAILS

Azure’s diamond drilling campaign, comprising six holes for 480m, tested around and beneath historical underground mine workings that exploited shoots of high-grade gold and cobalt mineralisation in the 1930s. To date, gold results have been received from all holes and cobalt assays from five holes (DSA-01 to DSA-04, DSA-06). Cobalt results from the remaining hole are expected within two weeks. See Figures 1 & 2 for cross sections and Figure 3 for hole locations.

Core logging identified carbonate rocks intruded by a porphyry, causing strong alteration and mineralising reactions in the limestones, forming a silicified skarn horizon enriched with garnet, magnetite and sulphides. This skarn contains a discrete zone several metres in width of disseminated cobaltite (a cobalt sulphide mineral) associated with abundant magnetite, and a wider, overlapping zone of gold mineralisation (see Photo 1 for selected mineralised intercepts).

The strongly magnetic mineralised zone provides the Company with the opportunity to explore for extensions of the gold and cobalt mineralisation by utilising geophysical techniques. Azure will undertake a ground magnetic survey in December, to assist with drill planning to assess potential dimensions and orientations of the mineralised zone.

Photo: Sara Alicia hole DSA-03 drill core with assays

Figure 1: Cross section B-BB 

Figure 2: Cross section A-AA

Figure 3: Plan showing drill hole locations and cross sections at Sara Alicia

TABLE 1: Significant gold intercepts from Sara Alicia (holes DSA-01 to DSA-06)* ?

TABLE 2: Significant cobalt intercepts from Sara Alicia (holes DSA-01 to DSA-04 & DSA-06)* 

Table 3: Location data for Sara Alicia diamond drill holes 

For enquiries, please contact:  

or visit www.azureminerals.com.au

Competent Person Statements:

Information in this report that relates to Exploration Results for the Oposura Project is based on information compiled by Mr Tony Rovira, who is a Member of The Australasian Institute of Mining and Metallurgy and fairly represents this information. Mr Rovira has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Rovira is a full-time employee and Managing Director of Azure Minerals Limited and 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://azureminerals.com.au/wp-content/uploads/2017/11/1744729.pdf