Azure Minerals Limited (ASX: AZS) (“Azure” or “the Company”) hereby advises that Fat Prophets, a Sydney-based financial services and investment research company, has released an independent research report on Azure’s recent discovery of the Cascada high grade copper-gold-silver deposit. Cascada is part of the Company’s Promontorio Project located in the Mexican state of Chihuahua.

The Fat Prophets report, entitled “Cascada – not short of copper and gold” is now available for viewing on Azure’s website: www.azureminerals.com.au.

Azure is also pleased to advise that the previously announced Induced Polarisation (IP) survey at Promontorio has been completed. The 16 line kilometre survey covers the northern part of the Promontorio project area, including extensions of the Promontorio resource, the Cascada deposit and the Risco Dorado prospect.

The Company considers that the high sulphidation copper-gold-silver mineralised zones at Promontorio, Cascada and Risco Dorado are likely to have been formed from the nearby intrusion of a porphyry copper mineralised system. Porphyry copper bodies have the potential to be very large in size with significant quantities of disseminated sulphides, and IP is an ideal geophysical method to identify mineralisation of this style.

This detailed, deep-seeking IP survey was designed with the following aims:

1. To identify sulphide mineralisation representing extensions of the high grade copper zones at Promontorio, Cascada and Risco Dorado;

2. To identify intense silica-rich alteration containing gold mineralisation; and

3. “Look” deeper and under cover for the feeder zones and porphyry copper mineralisation.

The IP data is currently being processed and interpreted and Azure will release results as soon as the interpretation is completed. This information will be used, in conjunction with data from the recent drilling, to define the next generation of drill targets at this very exciting project.


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



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.