Location

HIGHLIGHTS

• New zone of silver mineralisation identified near recently announced Mesa de Plata silver discovery (refer ASX release 16 September 2015)

• High grade silver assays returned from outcrop sampling, include: 369g/t Ag 181g/t Ag 148g/t Ag 136g/t Ag 116g/t Ag 103g/t Ag

• Mineralisation is hosted in the same vuggy silica rock unit as the nearby Mesa de Plata discovery

• Diamond drill program currently underway at Mesa de Plata for mineralogical and metallurgical studies

Azure Minerals Limited (ASX: AZS) (“Azure” or “the Company”) is pleased to report that multiple high grade silver assays have been returned from surface sampling over a large area located approximately 350m to the northeast of the original silver discovery at Mesa de Plata (see Figure 1).

These results, with grades reporting as high as 369g/t Ag, indicate a potential large increase of the area containing the vuggy silica unit which hosts the high grade silver mineralisation at Mesa de Plata.

Azure’s Managing Director, Mr Tony Rovira said the area of known high grade silver mineralisation at surface has now been significantly extended outside of the original discovery area on the Mesa de Plata plateau (refer ASX releases dated 16/9/15 & 25/9/15).

Mr Rovira said, “These latest results have significantly expanded the area containing high grade silver mineralisation at surface, potentially to more than 30 hectares (300,000m2 ).

“Our RC drilling at Mesa de Plata confirmed that strong silver grades at surface reflect similar or higher grades to depths of up to 70m. These latest high grade silver assays indicate that we have identified either a new mineralised zone or an extension of the original Mesa de Plata discovery.

“This augurs well for the upcoming drilling program to define large, shallow, economic silver resources.” 

DETAILS

The new zone of surface silver mineralisation is situated about 350m to the northeast of Mesa de Plata. It forms a northwest-southeast trending ridge, similar to the Mesa de Plata plateau, extending for at least 650m in length and up to 250m wide.

The Company collected a total of 24 rock chip samples from within this area, with most samples returning anomalous to very high grade silver assays (see Figure 1 and Table 1 for details). Importantly, six samples returned silver grades greater than 100g/t Ag, with a maximum value of 369g/t Ag.

These silver results are similar to the grades returned from the sampling completed over Mesa de Plata that led to the discovery from the initial RC drilling campaign.

Mineralisation is hosted in the same flat-lying, vuggy silica formation which hosts the Mesa de Plata silver deposit, with the two mineralised zones separated by a shallow, northwesterlytrending valley. It is possible that the two mineralised zones join together further to the southeast at the head of the valley. 

A second batch of ten rock chip samples were collected from an area 200m to 300m to the southeast of the Mesa de Plata discovery area. Here, a thick sequence of strongly silicified volcanic rocks overlies the vuggy silica unit which hosts the Mesa de Plata silver mineralisation, forming a prominent topographical high. Sampling of these volcanic cover rocks returned several weakly anomalous silver assays, up to a maximum of 20.7g/t Ag. 

Considering that the silver-mineralised Mesa de Plata vuggy silica unit is relatively flat-lying, these samples were collected at elevations between 25m and 60m topographically higher. It is encouraging that several samples returned anomalous silver grades and the Company considers it possible that the vuggy silica host unit continues east from Mesa de Plata beneath this hill, possibly to join with the newly identified northeastern zone.

EXPLORATION UPDATE

Diamond drilling is continuing at Mesa de Plata to provide drill core for mineralogical and metallurgical studies of the high grade silver mineralisation. The program includes twinning the existing RC drill holes to provide a comparison between diamond core results versus RC results for mineral resource estimation purposes. Azure will provide an update when results are available.

TABLE 1: SILVER ASSAY RESULTS FROM OUTCROP SAMPLING

SAMPLE NUMBER

SAMPLE TYPE

SAMPLE LENGTH (m)

EAST (mE)

NORTH (mN)

ELEVATION (mASL)

GRADE Ag (g/t)

ALR-1375

Chip-Channel

8.0

572526

3414974

1666

9.0

ALR-1376

Chip-Channel

5.0

572521

3414930

1649

11.0

ALR-1377

Chip-Channel

3.0

572566

3414989

1658

8.0

ALR-1378

Chip-Channel

10.0

572601

3415049

1657

0.3

ALR-1379

Chip-Channel

5.0

572612

3415098

1634

8.0

ALR-1380

Chip-Channel

6.0

572658

3415082

1636

10.0

ALR-1381

Chip-Channel

6.0

572631

3415012

1660

0.3

ALR-1382

Chip-Channel

7.0

572662

3414997

1652

5.0

ALR-1415

Chip-Channel

3.5

572651

3415042

1650

20.7

ALR-1416

Chip-Channel

4.7

572630

3415073

1644

5.5

ALR-1729

Chip-Channel

2.5

571972

6415678

1487

148.2

ALR-1730

Chip-Channel

3.2

572016

3415572

1486

15.7

ALR-1731

Chip-Channel

5.0

572032

3415640

1490

10.3

ALR-1732

Chip-Channel

3.7

572160

3415605

1541

52.5

ALR-1733

Chip-Channel

1.5

572192

3415563

1561

15.4

ALR-1734

Chip-Channel

3.4

572225

3415585

1551

37.7

ALR-1735

Chip-Channel

3.2

52242

3415547

1561

102.6

ALR-1736

Chip-Channel

3.3

572278

3415495

1573

47.0

ALR-1737

Chip-Channel

2.3

572302

3415484

1566

24.3

ALR-1738

Chip-Channel

6.0

572310

3415495

1559

181.0

ALR-1739

Chip-Channel

3.3

572354

3415462

1566

15.6

ALR-1740

Chip-Channel

3.8

572398

3415444

1576

26.0

ALR-1741

Chip-Channel

3.0

572484

3415442

1565

48.1

ALR-1742

Chip-Channel

4.3

572437

3415472

1572

29.7

ALR-1743

Chip-Channel

3.7

572484

315442

1565

48.1

ALR-1744

Chip-Channel

3.6

572519

3415433

1568

369.0

ALR-1745

Chip-Channel

4.1

572280

3415528

1555

136.2

ALR-1746

Chip-Channel

3.8

572297

3415564

1543

24.2

ALR-1747

Chip-Channel

3.6

572341

3415523

1538

115.9

ALR-1748

Chip-Channel

4.0

572347

3415567

1525

48.4

ALR-1749

Chip-Channel

4.0

572472

3415592

1511

13.0

ALR-1750

Chip-Channel

3.8

572515

3415558

1506

11.3

ALR-1757

Chip-Channel

2.7

575650

3415593

1569

4.7

ALR-1758

Chip-Channel

2.5

575610

3415622

1592

1.9

 

-ENDS-

For further information, please contact:

Tony Rovira
Managing Director
Azure Minerals Limited
Ph: +61 8 9481 2555
 
Media & Investor Relations
Michael Weir / Richard Glass
Citadel-MAGNUS
Ph:+61 8 6160 4903
or visit www.azureminerals.com.au

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: http://www.azureminerals.com.au/azs//assets/2015/10/1485200.pdf

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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.