Location

Azure Minerals Limited (“Azure” or “the Company”) is pleased to report that it has received further assays from the recently completed exploration drilling program at the Company’s 100%-owned Cascada deposit.

HIGHLIGHTS

  • Assays received from four holed (APR-DD-114 to 117) testing for gold mineralization in the breccia zone adjacent to the Cascada copper deposit
  • Best intercept returned: 33.65m @ 1.59 g/t Gold
  • Assays for final six holes remain outstanding

 

RESULTS

Four holes were drilled into the breccia zone and results continue to be encouraging, with gold mineralization intersected ranging from anomalous to potentially economically significant.  The four holes tested the breccia up-dip and to the southeast from the original discovery holr (APR-DD-110: 187m @ 1.06 g/t Au). Drill hole APR-DD-114 was drilled from the same location as APR-DD-110 at a shallower angle and intersected 53.4m @ 0.7 g/t Au.

As the orientation of the breccia zone was uncertain, three holes (APR-DD-115 to 117) were drilled vertically.  These holes drilled into the breccia and defined the footwall (eastern) contact of the zone with the following results:

  • APR-DD-115: Intersected widespread anomalous gold mineralization but with no significant gold intercepts
  • APR-DD-116:      33.6 m @ 1.6 g/t Au

and:                       45.0 m @ 05 g/t Au

  • APR-DD-117:      9.6 m @ 0.7 g/t Au

This drilling confirmed the general northwest-southeast strike of the breccia body, as indicated by surface mapping.  It also indicates that while the breccia commonly contains anomalous gold grades, there are specific zones that are enriched, possibly where structures or veins intersect or cross-cut the breccia.  Drilling remains sparse in the breccia zone and further investigation of this large area is required to understand the geological controls to the mineralization.

The final six holes of the program tested the northeast (four holes) and southwest (two holes) strike extensions of the high grade central zone of the Cascada deposit.  Visual results from the drill core indicate that the strike length of the Cascada deposit has been extended to approximately 250m, with the mineralized zone remaining open along strike to the southwest and northeast and down dipmto the northwest.  Assay results from these holes are expected within 2 weeks.

Following receipt of the assays, the Company will commence the estimation of a JORC-compliant Mineral Resource for the Cascada deposit.

-ENDS-

For further information, please contact:

Tony Rovira

Managing Director

Azure Minerals Limited

Ph: +61 8 9481 2555

Media & Investor Relations

Rupert Dearden

MAGNUS Investor Relations

Ph: +61 8 6160 4903

Mob: +61 422 209 889

 

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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.