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Azure Minerals Commences Oposura Resource Estimate

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THE DRILL SERGEANT: Azure Minerals (ASX: AZS) received the final assay results from a resource drill-out program undertaken on the East Zone at the company’s 100 per cent-owned Oposura zinc-lead-silver project in Mexico.

Azure Minerals said that having completed the drilling and subsequent results it has started the mineral resource estimate for the Oposura project.

Assays received from final East Zone resource drill holes, include:

OPDH-144
12.25 metres at 16.3 per cent zinc plus lead (Zn+Pb) (12.4 per cent zinc and 3.9 per cent lead)

OPDH-111
3.2m at 20.9 per cent Zn+Pb (13 per cent zinc and 8 per cent lead);

OPDH-125
2.95m at 17.9 per cent Zn+Pb (10.3 per cent zinc and 7.7 per cent lead); and

OPDH-127
2.50m at 27.2 per cent Zn+Pb (24.8 per cent zinc and 2.4 per cent lead).

Azure has previously noted, high-grade mineralisation located immediately adjacent to existing underground development of Tunnel D at the project, which is approximately 2m wide and 2.5m high.

The company believes this tunnel could easily be stripped to accommodate modern mechanised mining equipment and that pre-production mine capital costs under this scenario would also be very low.

The latest results have confirmed a large zone of thick, high-grade mineralisation, with an overall average grade approaching 20 per cent combined Zn+Pb adjacent to and extending north and south of the existing underground exploratory mine workings of Tunnel D.

“It is pleasing that the assay results from the final drilling into the East Zone at Oposura identified additional high-grade mineralisation close to the existing underground mine tunnels,” Azure Minerals managing director Tony Rovira said in the company’s announcement to the Australian Securities Exchange.

“The extra drilling that the company undertook into the East Zone has also significantly improved our understanding of the geometry of the deposit, enabling more detailed mine planning to be undertaken.

“These results provide the company with scheduling optionality for early stage open pit and/or underground mining.”

 

Website: www.azureminerals.com.au

 

Azure Minerals Attracts Interest for Oposura Concentrates

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THE BOURSE WHISPERER: Azure Minerals (ASX: AZS) informed the market of recent corporate-related activities regarding the company’s 100 per cent-owned Oposura project in Mexico.

Azure Minerals claims to have received plenty of interest from over a dozen metals trading companies and base metal smelters to purchase the high-quality zinc and lead-silver concentrates that will be produced from the development of the Oposura project.

The company intimated it has also received interest in upgraded, direct-shipping ore, which it said opens attractive, low capital cost production options for Oposura.

Azure said many of these prospective suitors have also indicated they may be willing to provide funding to assist in the development and construction of the project, although the company was quick to point out that it has made no decision as to its preferred funding model at this time.

Azure is currently completing a Preliminary Economic Assessment (PEA) study into the development and operations of the high-grade zinc-lead-silver Oposura project.

The company explained that although the PEA will meet the requirements for a Scoping Study as defined under ASX/JORC standards, it will be produced in the Canadian (NI43-101 report) format to enhance off-take marketing and project funding opportunities in North America, Europe and Asia.

“The current market conditions for Oposura’s direct shipping ore and its concentrates are very favourable,” Azure Minerals managing director Tony Rovira said in the company’s announcement to the Australian Securities Exchange.

“The high-grade and shallow nature of the mineralisation at Oposura lends itself to either or both of these processing options.

“The company is progressing quickly towards the completion of a quality Preliminary Economic Assessment in order to attract the best off-take offers and funding for the project.”

 

Website: www.azureminerals.com.au

 

Azure Minerals Increases Recoveries and Concentrate Grades at Oposura

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THE BOURSE WHISPERER: Azure Minerals (ASX: AZS) completed further metallurgical testwork at the company’s 100 per cent-owned Oposura zinc-lead-silver project in Mexico.

Azure Minerals reported the testwork has continued to make improvements on the already positive results it has achieved to date at Oposura.

Locked cycle flotation tests, simulating the continuous operation of a typical sulphide flotation circuit, demonstrate that Oposura can expect increased zinc and lead recoveries with higher concentrate grades than those reported previously.

“The successful production of clean, commercial grade concentrates at high recoveries has eliminated a possible major project risk and strongly enhances the project potential,” Azure Minerals said in its ASX announcement.

The latest testwork comprised a locked cycle test involving a typical lead-silver and zinc sulphide flowsheet which represents an industry standard flotation circuit.

The result of the locked cycle test was a zinc concentrate grading a high 57.2 per cent zinc with a zinc recovery of 85.6 per cent and a lead concentrate grading 61.4 per cent lead at a lead recovery of 84 per cent.

Silver recovery to the lead concentrate was 67.1 per cent silver at a concentrate grade of 323.8 grams per tonne silver (10.4 oz/t silver).

Both the zinc and the lead concentrate grades achieved in the locked cycle test were high above the typical industry benchmark grades of 53 per cent zinc and 60 per cent lead, thereby improving the marketability of both products.

“Azure expects that, under standard operating parameters, recovery of zinc and lead into their respective concentrates would be greater than those achieved in the locked cycle test, should the company wish to produce concentrates at the lower benchmark quoted concentrate grades,” the company said.

 

Website: www.azureminerals.com.au

 

Azure Minerals Completes Oposura Drill-Out

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THE DRILL SERGEANT: Azure Minerals (ASX: AZS) announced completion of a resource definition drilling program undertaken at the company’s flagship Oposura project in Mexico.

Azure Minerals released further high-grade zinc and lead assay results from the drilling program with the latest batch stemming from the East Zone, which delivered thick intervals of high-grade zinc and lead sulphide mineralisation.

The company explained the mineralisation has been shown to commence in surface outcrop, extending horizontally at shallow depths over an area of approximately 400 metres (east-west) by 300 metres (northsouth).

The mineralised zone remains unconstrained to the north and west.

Some of the more impressive East Zone mineralised intersections from the latest results include:

OPDH-053
5.5m at 20.9 per cent zinc and lead (Zn+Pb) from 95.15m;

OPDH-059
9.6m at 18.2 per cent Zn+Pb from 50.6m;

OPDH-067
7.2m at 13.9 per cent Zn+Pb from 41.7m;

OPDH-072
3.4m at 19.3 per cent Zn+Pb from 13.05m;

OPDH-077
7.4m at 17 per cent Zn+Pb from 38.85m; and

OPDH-087
5.4m at 16 per cent Zn+Pb from 00.00m.

Azure identified the near-surface mineralisation within the eastern and southern areas is likely to be mined by open pit and, where the terrain rises to the west and north, underground mining is expected to be carried out using a simple room and pillar mining method utilising industry-standard mechanised mining equipment.

Azure explained the need to increase the number of drill holes within and surrounding both the East and West zones from the initial estimate of 120 to 156 to get the best result possible out of the drilling program.

“This expansion of the drill program resulted in an extra two months of drilling, and accordingly a commensurate increase in time to complete the resource estimate,” Azure Minerals said in its ASX announcement.

“The resource estimate is now expected to be completed in late May to June.

“These extensions are not expected to affect the delivery of the Scoping Study / Preliminary Economic Assessment, which is still scheduled for completion in the third quarter of 2018.”

 

 

Website: www.azureminerals.com.au

 

Azure Minerals Records High-Grade Lead and Zinc Hits at Oposura

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THE DRILL SERGEANT: Azure Minerals (ASX: AZS) provided further encouraging results from resource definition drilling of the company’s Oposura project in Mexico.

Azure Minerals said it anticipates the initial mineral resource estimate to be ready in May and the release of a Scoping Study / Preliminary Economic Assessment expected in Q3 2018.

The company took rock chip samples of outcropping mineralisation at the West Zone, which returned individual grades up to 43.7 per cent zinc and 29.6 per cent lead, with combined grades up to 59.6 per cent zinc and lead (Zn+Pb).

Drilling along strike from this mineralised outcrop intersected high-grade zinc and lead sulphide mineralisation which extends at shallow depths over an area of more than 400 metres (east-west) by 400m (north-south), with evidence of internal continuity of the horizontal mineralised zone.

The mineralisation remains open to the north and east.

Some of the better mineralised intersections from the West Zone include:

OPDH-032
2.4 metres at 15.5 per cent Zn+Pb in from 15.65m (lower zone);

OPDH-049
7.4m at 15.9 per cent Zn+Pb in from 60.45m (lower zone);

OPDH-056
2.8m at 19.0 per cent Zn+Pb in from 12.30m (newly identified upper zone);

OPDH-056
3.7m at 15.6 per cent Zn+Pb in from 78.25m (lower zone);

OPDH-061
3.5m at 13.2 per cent Zn+Pb in from 43.05m (lower zone); and

OPDH-079
4.6m at 15.0 per cent Zn+Pb in from 56.05m (lower zone).

“With the mineralisation being mostly horizontal, the vertical height of the mineralised zone continues to be optimal for a simple room and pillar underground mining operation utilising industry-standard mechanised mining equipment,” Azure Minerals said in its ASX announcement.

 

Website: www.azureminerals.com.au

Azure Minerals Identifies New Mexican Zinc Lead Targets

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THE DRILL SERGEANT: Azure Minerals (ASX: AZS) has identified areas of strong zinc and lead anomalism and high-grade gold, silver and base metal mineralisation during regional exploration program over the western half of the company’s Oposura project in mexico.

Azure Minerals said the areas were identified on the Mina Blanca Ranch prospect within the Oposura project area.

The company explained it is planning to drill at Mina Blanca Ranch following the completion of the Oposura resource drill-out and upon receipt of the required approvals.

Azure has interpreted the results from this early-stage exploration to indicate that additional precious and base metal mineralisation may be present within the western part of the Oposura property and further exploration, including drilling, is warranted.

When the Oposura resource drill-out has been completed, Azure will shift to an expansionary phase to test for repetitions and extensions of the high-grade Oposura massive sulphide deposit, and to explore for new styles of mineralisation like it has identified at Mina Blanca.

“Azure has undertaken the first modern exploration on the Mina Blanca Ranch in the western part of the Oposura property, and the systematic and technical approach is delivering positive results,” Azure Minerals managing director Tony Rovira said in the company’s announcement to the Australian Securities Exchange.

“This is obviously a strongly mineralised district, with our geochemical surveys identifying several anomalies with potential for zinc and lead mineralisation close to the Oposura resource area.

“Additionally, the high-grade gold, silver and base metal values returned from a sample collected from the historical Mina Blanca mine provides extra encouragement for structurally controlled mineralisation.”

 

Website: www.azureminerals.com.au

Azure Minerals Completes Placement to Advance Mexican Ambitions

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THE BOURSE WHISPERER: Azure Minerals (ASX: AZS) completed an $8.2 million placement to institutional and sophisticated investors.

Azure Minerals said the funds raised would enable the company to continue development studies at its Oposura project in Mexico and to accelerate its exploration campaign to further define the high-grade, near-surface gold and cobalt mineralisation on the Sara Alicia project, also in Mexico.

“I am very pleased with the strong support shown from institutions in North America, Europe and Australia,” Azure Minerals managing director Tony Rovira said in the company’s announcement to the Australian Securities Exchange.

“This heavily oversubscribed placement places Azure in a very strong position moving forward, as we work towards completing development studies at Oposura and fast-track exploration at the Sara Alicia gold and cobalt project.

“With both zinc and cobalt prices at decade highs, we believe that the company is ideally placed to accelerate both Oposura and Sara Alicia towards development.”

 

Website: www.azureminerals.com.au