GOLD GRADE IN DRILL HOLE DSA-03 INCREASES by >10%
- Re-assaying increases gold grade in DSA-03 intercept by more than 10%:
- DSA-03: 26.2m @ 9.5g/t Au including 12.6m @ 16.8g/t Au
- Hole DSA-05 intersected high-grade cobalt mineralisation above and below a 2.75m mining void – final results include:
- 5.05m @ 1.40g/t Au from 12.00m
- 8.45m @ 1.24g/t Au from 25.15m
- 2.60m @ 0.33% Co from 8.95m surrounding 2.75m mining void
- Ground magnetic survey completed – results being evaluated
- Further exploration of high-grade gold-cobalt zone planned
Azure Minerals Limited (ASX: AZSDA) (“Azure” or “the Company”) is pleased to inform that final assays have been received from the Company’s maiden drilling program and the recently announced ground magnetic survey has been completed onits 100%-owned high-grade gold and cobalt Sara Alicia project, located in Sonora State, Mexico.
GROUND MAGNETIC SURVEY
The Sara Alicia gold-cobalt mineralised zone contains abundant magnetite, causing a strong and identifiable magnetic signature to the body. This provides Azure with a significant opportunity to explore for extensions of the mineralisation by utilising geophysical techniques, and the Company has now completed a ground magnetic survey covering the project area.
The magnetic data is currently undergoing processing and interpretation and is expected to provide valuable assistance with planning of future drilling to further assess the high-grade gold and cobalt zone and to identify additional zones ofmineralisation.
UPGRADE OF DSA-03 HIGH-GRADE GOLD DRILL HOLE INTERCEPT
As part of its internal quality control procedures, Bureau Veritas Laboratories (BVL) observed an error in the gold value of sample DH-17314 (hole DSA-03: 17.95m – 18.80m). This sample was reassayed, and BVL subsequently amended the gold result from 2.86g/t Au to 30.5g/t Au.
This change increased the gold grade of the overall mineralised interval to 26.20m @ 9.50g/t Au (previously 8.60g/t Au), and the internal high-grade interval to 12.60m @ 16.80g/t Au (previously 14.90g/t Au). See core photos for individual sample grades of this high grade mineralised zone.
MINERALISATION INTERSECTED IN HOLE DSA-05
Drill hole DSA-05 intersected both gold and cobalt mineralisation in separate zones near to surface. Unexpectedly, the hole drilled through an historical mine working of 2.75m width. High grade cobalt mineralisation is present immediately above (0.30m @ 0.46% Co) and below (2.30m @ 0.32% Co) the mining void. This indicates that historical mining activity was focused on extracting high grade mineralisation in this area and further drilling is being planned to test for lateral extensions.
Azure Minerals Limited
Ph: +61 8 9481 2555
Media & Investor Relations
Michael Weir / Cameron Gilenko
Ph: +61 8 6160 4903
or visit www.azureminerals.com.au
Competent Person Statements:
Information in this report that relates to Exploration Results for the Oposura Project is based on information compiled by Mr Tony Rovira, who is a Member of The Australasian Institute of Mining and Metallurgy and fairly represents this information. Mr Rovira has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Rovira is a full-time employee and Managing Director of Azure Minerals Limited and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.