KEY POINTS:

• Stage 2 drilling campaign has commenced
• High-grade gold and cobalt mineralisation targeted along strike and down-dip from previously reported drill intersections, which included:

• Geophysical and geochemical surveys have outlined gold and cobalt mineralised body covering 300m x 150m
• High-quality targets to be tested by initial 10-12 hole / 1,000m drill program
• Further drilling is planned

Following its very successful over-subscribed share placement and capital raising, Azure Minerals Limited (ASX: AZS) (Azure or the Company) is pleased to advise that the Company has commenced its second diamond drilling campaign on its 100%-owned, highly prospective Sara Alicia gold and cobalt project in the northern Mexican state of Sonora (refer Figure 1).

The drilling will follow up on the Company’s very successful 2017 maiden drilling program, in which all six drill holes intersected high grades of gold and cobalt mineralisation at shallow depths (refer ASX announcements dated 27 November and 7 December 2018).

The best intersection from the 2017 program returned an exceptional:

26.2m @ 9.5g/t Au and 1.26% Co from 0.60m depth, which includes:

12.6m @ 16.8g/t Au & 6.35m @ 3.57% Co

The first phase of this current campaign will comprise 10-12 diamond core holes for approximately 1,000m and is expected to take about six weeks to complete. It is designed to target along-strike and down-dip extensions of the high-grade mineralisation intersected in the 2017 program. Based upon anticipating further success, a second phase of drilling is currently being planned to complete a 50m x 50m drill pattern over the mineralised body.

Figure 1: Plan showing location of Sara Alicia Project

 

 

Figure 2: Ground magnetic image with drill hole locations from 2017 program

 

 

-ENDS-

 

For enquiries, please contact: