Azure Minerals Limited ("Azure" or "the Company") is pleased to report that it has completed its exploration drilling program at the Company's 100%-owned Cascada deposit. Encouraging initial assay results have been received.
• Drill program of 11 holes totaling 1,541m completed
• Five holes (including one hole extension) tested the breccia zone adjacent to the Cascada deposit.
• Breccia-hosted gold mineralisation in Hole 110 extended to:
187.25m @ 1.06g/t Gold
• Six holes tested along-strike extensions of the Cascada deposit
• Visible copper sulphide and fine-grained native copper mineralisation identified in several holes
• If confirmed by assays, the Cascada strike length will have been extended to 250m, while remaining open in all directions
• JORC compliant Mineral Resource estimation to commence upon receipt of all assays.
The drilling program was designed to achieve three key objectives:
1. Extend the mineralised zone of the high grade Cascada copper-gold-silver deposit to the northeast and southwest
2. Finalise data requirements for the maiden Cascada mineral resource estimate
3. Determine the extent of, and follow-up, the breccia-hosted gold mineralisation previously intersected to the west and south of Cascada
Results to date are encouraging. Hole APR-DD-110, when initially drilled earlier in 2014, intersected 153.45m @ 1.09g/t Au including 41.70m @ 2.48g/t Au at the bottom of the hole1. This hole was extended by an additional 41m to determine the width of the breccia body, and has intersected a further 33m of gold/mineralised breccia before passing into an underlying volcanic rock.
The intersection of mineralised breccia now stands at an exceptional:
187.25m @ 1.06g/t Au from 21.55m inculding:
43.28m @ 2.48g/t Au from 133.30m; and
11.55m @ 2.20g/t Au from 197.25m
The following four holes of the program (APR-DD-114 to 117) tested the breccia along strike to the southeast (see Figure 2.) This drilling confirmed the northwest-southeast strike indicated by mapping and sampling of the sparse breccia outcrops in this area, along the similarily orientated structure identified in the ground magnetics survey (see Figure 3) and regional geological mapping (see Figure 4). Assays for these holes are expected within the next week.
The final six holes tested the northeast (four holes) and southwest (two holes) strike extensaions of the high grade central zone of the Cascada deposit. Visible copper oxice, sulphide and fine-grained native copper mineralisation were intersected in several holes. If confirmed by assays, these holes will have extended the total strike length of the Cascada deposit to approximately 250m, with the mineralised zone remaining open along strike to the southwest and northeast and down dip to the northwest.
Native copper (see Figure 1), copper oxide and copper sulphide mineralisation are present in the core of the two holes drilled on the southwest strike extension of Cascada (APR-DD-118 and 119). This is encouraging as it demonstrates the potential for mineralised expansions in this direction.
Following receipt of the assays and completion of the follow-up density measurements of the drill core, the Company will commence the estimation of a JORC-compliant Mineral Resource for the Cascada deposit.
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For further information, please contact:
Azure Minerals Limited
Ph: +61 8 9481 2555
Media & Investor Relations
MAGNUS Investor Relations
Ph: +61 8 6160 4903
Mob: +61 422 209 889
or visit www.azureminerals.com.au