Extensive outcropping gold and silver mineralisation identified at the Puerto del Oro prospect
Best assays include:
10m x 5m
Composite Rock Chip Sample
Mineralisation is hosted in vuggy silica, quartz veins and silicified breccias
Puerto del Oro prospect will be drill tested during the upcoming drilling program, once all necessary approvals have been received
Azure’s Managing Director, Tony Rovira, stated: “Puerto del Oro is a very promising addition to the growing number of exciting, high quality targets we have identified in the first six months of our exploration activities at Alacrán. The prospect is in close proximity to San Simon and Mesa de Plata where we have already identified potential for significant gold and silver mineralisation, and will be included in the upcoming drill program which is scheduled to commence in late July.”
Azure Minerals Limited (ASX: AZS) (“Azure” or “the Company”) is pleased to provide an update on results from the ongoing exploration activities at the Alacrán Project, located in the northern Mexican state of Sonora.
Puerto del Oro is located between the Mesa de Plata and San Simon prospects in the northwest part of the Alacrán property (see Figures 1 and 2).
The area contains outcropping volcanic rocks with numerous zones of vuggy silica, silicified breccia and quartz veining with widespread iron-rich (hematite-goethite) alteration. Visually prospective zones were systematically sampled by rock chip sampling of the mineralized trends. A total 160 surface samples were collected over an area of approximately 600m x 400m (see Figure 3).
Significant grades of gold and silver mineralisation are present in the Puerto del Oro prospect (see Figure 3). Mineralisation is hosted in quartz veins and zones of silicified and iron-rich breccia. These zones extend for up to several hundred metres in strike length, and range up to 10 metres in width. The photograph in Figure 4 shows an outcrop of silicified breccia typical of the mineralised zones at the prospect. This particular outcrop is situated adjacent to one of the main tracks in the area, and access throughout the Puerto del Oro prospect is good.
Similar mineralised material outcrops extensively at the nearby San Simon prospect, where previous sampling by the Company returned strong gold and silver mineralisation, including 2.61g/t Au & 192g/t Ag and 1.58g/t Au & 272g/t Ag (refer ASX releases dated 15/04015 & 13/05/15).
Puerto del Oro joins the other high priority targets that Azure has identified within the western part of the Alacrán project area. Drill testing of these anomalies is expected to commence in late July, as soon as the necessary environmental and access approvals are received.
Alacrán is located in northern Mexico approximately 50km south of the USA border. The property covers 54km2 of highly prospective exploration ground in the middle of the Laramide Copper Province. This is one of North America’s most prolific copper-producing districts, extending from northern Mexico into the southern United States. Alacrán lies in close proximity to several large copper mines, including being 15km from the world class, giant Cananea Copper Mine operated by Grupo Mexico.
Azure has signed an Agreement with Minera Teck S.A. de C.V. (“Teck”), a Mexican subsidiary of Teck Resources Limited to acquire 100% of the property, subject to an underlying back-in right retained by Teck and a 2% NSR retained by Grupo Mexico S.A.B.de C.V.; (refer ASX release dated 07/01/15). Teck is Canada’s largest diversified resource company. Grupo Mexico is Mexico’s largest and one of the world’s largest copper producers.
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Information in this report that relates to Exploration Results is based on information compiled by Mr Tony Rovira, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Rovira is a full-time employee and Managing Director of Azure Minerals Limited. Mr Rovira has sufficient experience which is relevant to the styles of mineralisation and types of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Rovira consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Information in this report that relates to previously reported Exploration Results has been crossedreferenced in this report to the date that it was reported to ASX. Azure Minerals Limited confirms that it is not aware of any new information or data that materially affects information included in the relevant market announcement.
Original Article and Figures: http://www.azureminerals.com.au/azs//assets/2015/07/150714-High-Grade-Gold-Target-Identified-at-Alacran.pdf