Azure Minerals Limited (ASX: AZS) (“Azure” or “Company”), the Mexican- focused minerals exploration company, is pleased to provide an update of recent activities from its high grade copper-gold-silver Promontorio Project, located in Chihuahua Mexico.
The Pre-Feasibility Study (“PFS”) being undertaken by Como Engineers is
progressing well and is on schedule for completion in June.
In addition to the PFS, the Company has accessed the upper levels of the Mina Grande mine workings, which form part of the historical Promontorio Mine. Detailed mapping and surveying identified three principal mineralised veins along the 250 metre length of old workings.
This work identified a new vein of high grade massive copper sulphide mineralisation located at the end of the drive (see Figure 1). This vein was unknown to modern explorers and has not been tested by any drilling.
Channel sampling across the full 2.2 metre wide vein returned values of:12.95% Copper 18.5g/t Gold 364g/t Silver
Azure Managing Director, Mr Tony Rovira, commented:
“Identifying a new zone of high grade mineralisation is a highly encouraging result for the first underground sampling program at Promontorio. We expect that further testing of this new zone and the other veins, through underground and surface diamond drilling, will commence in mid-2012 and we look forward to updating the market in due course.”
FIGURE 1: Sampling from Newly Discovered Vein
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 properties are the high grade Promontorio copper-gold-silver project and the El Tecolote copper-zinc 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. Scoping Study economic modelling indicates Promontorio could be developed and operated profitably. Exploration has identified further high grade copper mineralisation as well as additional potential for large, bulk tonnage gold mineralisation.
-ENDSFor further information, please contact: Tony Rovira Managing Director Azure Minerals
Ph: +61 8 9481 2555Press / Investor Relations
Six Degrees Investor Relations
Ph:+61 3 9674 0347
or visit www.azureminerals.com.au
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.