Location


Azure Minerals Limited (ASX: AZS) (“Azure” or “the Company”) is pleased to announce diamond drilling is underway at the Cascada copper prospect and associated porphyry copper targets on the Promontorio Project located in the state of Chihuahua, Mexico.


KEY POINTS


• First drill hole in progress at Cascada


• Drilling is designed to: o expand the Cascada high grade copper zone; and


o test nearby porphyry copper targets


• Previous drilling returned spectacular high grade copper intercepts, including: 32.9m @ 4.6% Cu & 29.4m @ 4.4% Cu


• Peak grades reached 46.9% Cu, 41.3g/t Au and 1,070g/t Ag


Azure’s Managing Director, Tony Rovira, commented: “I am very pleased to announce that, following on from the recent successful capital raising, we have recommenced drilling at Cascada where our most recent program returned exceptional copper, gold and silver intercepts. The areas around and beneath Cascada and the neighbouring Promontorio deposit are the centre of our exploration focus. We believe there is strong potential for a high grade copper deposit at Cascada, and in addition the recent identification of porphyry copper targets by an IP survey gives us the possibility of large copper bodies at depth.”


DETAILS


Drilling has commenced at Azure’s promising Cascada prospect within the flagship Promontorio Project. The first holes of the program are targeting extensions to the Cascada zone of high grade copper-gold-silver mineralisation. Previous drilling by Azure identified a central mineralised zone with true widths up to 40m averaging +5% Copper Equivalent1 and peak grades of +40% Copper, surrounded by a lower grade copper-mineralised envelope (see Table 1).


1 See Copper Equivalency Statement in Appendix to this report.

 




































Table 1: Copper Mineralised Drill Intercepts at Cascada Deposit DRILL HOLE

HIGH GRADE COPPER ZONE

COPPER MINERALISED ENVELOPE

APR-DD-087

35.9m @ 4.5% CuEq

70.0m @ 2.6% CuEq

APR-DD-089

32.9m @ 6.3% CuEq

129.0m @ 2.9% CuEq

APR-DD-091

29.4m @ 7.4% CuEq

61.5m @ 4.1% CuEq

APR-DD-092

32.4m @ 3.7% CuEq

56.0m @ 2.9% CuEq

APR-DD-093

40.9m @ 5.5% CuEq

101.5m @ 3.0% CuEq

APR-DD-098

19.0m @ 6.0% CuEq

High grade zone only

APR-DD-104

6.8m @ 2.6% CuEq

49.6m @ 1.4% CuEq

A recently completed Induced Polarisation (IP) geophysical survey identified two strong IP anomalies. A near-surface anomaly is situated adjacent to and beneath the Cascada mineralisation and a large, deeper anomaly lies beneath both Cascada and the Promontorio deposit. Considering the geology of the area, these anomalies could represent two different bodies containing substantial sulphide mineralisation.


The shallow IP anomaly adjacent to Cascada extends from surface to join with the deeper anomaly at about 300m below surface. Expert consultants have interpreted this to be a feeder zone from the porphyry source at depth to the Cascada epithermal mineralisation at surface.


The deeper IP anomaly is believed to represent a porphyry body which to date is completely untested by drilling. This very large anomaly starts at about 300m below surface at the southern end of the survey area (directly beneath the Promontorio deposit), and it gradually gets deeper as it extends for over 600m towards the north.


The survey’s resistivity responses indicate the presence of several highly resistive zones which are likely to represent areas of intense silicification. Azure’s exploration has identified a strong correlation between intense silicification and gold mineralisation, as is evident at Cascada and Risco Dorado.


Azure’s planned drilling program will test:


• around and beneath the known mineralisation at Cascada with the aim of expanding the mineralised zone and enable a Mineral Resource to be estimated for this deposit;


• the interpreted feeder zone connecting Cascada and the buried porphyry body; and


• the interpreted buried porphyry body.

 

BACKGROUND

The Promontorio and Cascada deposits both form separate parts of a high-sulphidation, epithermal system where base and precious metal mineralisation comprises massive, semi-massive and disseminated copper sulphides hosted in vuggy silica and silicified host rocks.

High sulphidation epithermal deposits form above porphyry copper bodies with feeder zones connecting the porphyry and the overlying epithermal system. These types of deposits are common in northern Mexico and south-western US.

Azure believes that beneath Cascada and Promontorio is a porphyry copper body which was the source of the copper, gold and silver mineralisation and is likely to be mineralised in its own right. This makes the Promontorio Project an exciting porphyry copper exploration target in addition to the high grade epithermal mineralisation already identified.


































The Promontorio deposit contains a JORC-compliant (2004 Code) Mineral Resource2(Indicated + Inferred) of: Resource Classification

Tonnes

CuEq3

(%)

Cu

(%)

Au

(ppm)

Ag

(ppm)

Reported Above 0.5% CuEq cut-off

Indicated

610,000

4.4

2.7

1.7

56

Inferred

230,000

3.3

1.8

1.5

56

Total

840,000

4.1

2.5

1.6

56

 


-ENDS-

 

For further information, please contact:

Tony Rovira

Managing Director

Azure Minerals Limited

Ph: +61 8 9481 2555

Press / Investor Relations
Victoria Thomas
Six Degrees Investor Relations

Ph:+61 3 9645 7567

SHARE THIS POST?

Facebook
Twitter
LinkedIn
WhatsApp
Telegram
Email

We are world leaders in testing, inspection and certification services. We are present in all sectors of the economy with solutions and services that enhance the business, avoiding risks, improving operational performance and protecting the reputation and brand of our clients.