• Better drill hits at Loma Bonita include:
• MDPC-143:   126m @ 2.0g/t Au & 26g/t Ag from 1.5m; including
  • 34.5m @ 3.9g/t Au & 60g/t Ag from 76.5m
• MDPC-141:   36m @ 1.0g/t Au & 13g/t Ag from 12m
• Ten RC drill holes have been completed for 1,259.5m and drilling is continuing
• Drilling now underway at Cerro San Simon and planned for other targets

Azure Minerals Limited (“Azure” or “the Company) (ASX: AZS) is pleased to announce that first assay results have been received from the mineral resource infill and extension drilling of the Loma Bonita gold-silver deposit, located at its 100%-owned Alacrán Project in Sonora, Mexico.

Significant intersections of gold mineralisation over substantial widths commencing close to surface were returned, with highlights including:

Mineral Resource infill drilling:

• MDPC-143: 126m @ 2.0g/t Au from 1.5m
  • including 64.5m @ 2.8g/t Au, which includes 34.5m @ 3.9g/t Au

Mineral Resource expansion drilling:

• MDPC-141: 36m @ 1.0g/t Au from 12m

The Reverse Circulation (RC) drilling program has, to date, completed ten holes (MDPC-138 to MDPC-147) for a total of 1,259.5 metres and drilling is continuing. Gold, silver and base metal assays have been received for the first six holes. All significant gold and silver intersections are included in Table 1 and location details for all holes drilled to date are listed in Table 2.

Azure’s previous exploration on Alacrán discovered the Mesa de Plata silver deposit (refer Table 3 for Mineral Resource) and the adjacent Loma Bonita gold-silver deposit (refer Table 4 for Mineral Resource) (see Figures 1 & 2). In summary, these two deposits contain total resources of:

Mesa de Plata (ASX: 1 December 2016):

27.4Moz silver in 10.5Mt @ 82g/t Ag

• Includes an at-surface high-grade resource of: 15.5Moz silver in 1.8Mt @ 275g/t Ag

Loma Bonita (ASX: 21 December 2016):

150,000oz gold & 4.8Moz silver in 5.4Mt @ 0.9g/t Au & 28g/t Ag

The Loma Bonita deposit, as defined by the current Mineral Resource, extends over 600 metres north- south, up to 200 metres east-west, and remains open to the north, east and south. Mineralisation starts at surface and in places the true width/thickness of the mineralised zone exceeds 100 metres.

Resource infill drilling is being undertaken to improve definition of internal high-grade zones and obtain samples for additional metallurgical testwork, while resource expansion drilling is stepping out from the eastern resource boundary to increase the resource size.

Azure recently reported encouraging surface sampling results (ASX: 17 December 2019) from a strongly gold-mineralised breccia located in a road cutting approximately 400 metres southeast of the Loma Bonita resource boundary (see Figure 2). Channel sampling of the exposed mineralised zone returned 35.5 metres grading 3.6g/t Au. This zone has been drill-tested in the current program by hole MDPC-147 and assay results are awaited.

Drilling is currently underway at the Cerro San Simon prospect (see Figure 1), where previous drilling returned several wide intersections of low to moderate grade gold mineralisation, including:

MDPD-025: 29.6m @ 0.56g/t Au & 27g/t Ag (ASX: 21 December 2016)
MDPD-035: 12.6m @ 0.37g/t Au & 8g/t Ag (ASX: 21 December 2016)
ALA-17-004: 63.0m @ 0.47g/t Au & 27g/t Ag (ASX: 10 May 2018)

Drilling is continuing and further results will be announced as they come to hand.

Figure 1: Plan of the Alacrán Project showing locations of drill holes