ASX: AZS 18 JANUARY 2013 PROMONTORIO CONTINUES TO DELIVER HIGH GRADE RESULTS Mexican-focused Azure Minerals Limited (“Azure” or “the Company”) is pleased to provide a further update on the diamond drilling program currently underway at its Promontorio Project, located in the Mexican state of Chihuahua. HIGHLIGHTS • Assays for the first 16 holes have now been received - economically significant mineralisation present in 14 holes • High grade copper assays continue to be returned from resource extension drilling, including: o 1.5 metres @ 11.9% Copper Equivalent (CuEq1) o 1.1 metres @ 7.8% CuEq • Two new targets separate from the resource area have been identified and will be drill tested in the current program • Inspection of recent drill core identifies likely high grade copper mineralisation in vein extensions and in newly identified veins outside of the existing JORC resource – assays pending • Drill program of 33 holes drilled for approximately 3,550m nearing completion • Assays results for the remaining 17 holes will be received progressively over the next two to four weeks • Strong news flow from Promontorio and other Mexican projects expected to continue across Q1 2013 Since the recommencement of the drilling program at Promontorio post the Christmas-New Year break, Azure has continued to make excellent progress, with three holes now completed and the fourth and final hole nearing completion. Assay results from the first 16 holes, APR-DD-055 to APR-DD-070, submitted to the laboratory prior to Christmas, have been received. 1 See Appendix for Copper Equivalency (CuEq) Statement All 16 holes intersected the targeted veins, with economically significant mineralisation being present in 14 of those holes. Drill intercepts are contained within Table 1 and drill hole collar data is detailed in Table 2. Sampling of the remaining 17 holes, APR-DD-071 to APR-DD-087, is ongoing and the Company anticipates receiving assay results from these holes over the next two to four weeks. Assays received to date are predominantly from extensions of known mineralised veins. However, several new veins containing massive copper sulphide mineralisation have been intersected in recent drilling, assays of which are still pending. Azure believes the discovery of these new veins will have a positive impact on the new Mineral Resource estimation for Promontorio, which is expected to be completed by April 2013. In addition to the discovery of new veins within the resource area, ongoing reconnaissance work continues at Promontorio, with the Company’s geologists recently identifying two new high priority targets. Two extra holes have been added to the drilling program to test these new targets. Drilling at Promontorio will be completed shortly, with the total program comprising 33 holes for approximately 3,550 metres.
AZS Price at posting:
6.2¢ Sentiment: Buy Disclosure: Held
