Location

KEY POINTS:

 

  • Maiden drilling program starts with 5 holes planned for 450m
  • High priority drill targets include old mine workings and outcrop containing high grade gold and cobalt mineralisation

Azure Minerals Limited (ASX: AZS) (“Azure” or “the Company”) is pleased to advise that diamond drilling of the first hole of a five-hole program has started on its 100%-owned Sara Alicia goldcobalt project, located in the northern Mexican state of Sonora (see Figure 1).

High grade gold and cobalt mineralisation was historically exploited by small-scale underground mining in the 1930s. Azure’s first-pass sampling of surface and underground exposures confirmed the presence of this mineralised zone, returning high grades of gold and cobalt up to maximum values of 39g/t gold and 7% cobalt (see Photo 1 and refer ASX announcement of 23 August).

A reconnaissance drill program has been designed to test this zone with an initial five holes totalling approximately 450m of diamond core planned (see Figure 2 for hole locations). A followup drill program may be undertaken, depending upon initial results.

Photo 1: Hand specimens containing high grade gold and cobalt mineralisation
 
Figure 1: Plan showing location of Sara Alicia Project
 
Figure 2: Plan showing proposed drill hole locations and historical Sara Alicia mine workings?
 
For enquiries, 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
 
Competent Person Statements:

Information in this report that relates to previously reported Exploration Results has been crossedreferenced 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.

Original Article: http://azureminerals.com.au/wp-content/uploads/2017/10/1725799.pdf

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Layne, A Granite Company, provides sustainable solutions for water resources and mineral exploration. Originally established in 1882, Layne offers a rich history of delivering safe, professional, and reliable water and minerals solutions throughout North and South America. Granite acquired Layne and its subsidiaries in the fall of 2018, to further Granite’s strategy to grow through acquisition and diverse end market expansion.