Azure Minerals Limited (ASX: AZS) ("Azure") is pleased to advise it has commenced the Stage 2 (2009/10) exploration program on the La Tortuga Project, in Sonora, Mexico. La Tortuga is a joint venture with Japan Oil, Gas and Metals National Corporation (JOGMEC) which is sole funding the first US$3 million of exploration expenditure to earn a 51% interest in the project. JOGMEC's objective is the discovery of large porphyry copper deposits, and several promising indications of mineralised porphyry systems have already been found. The joint venture is managed and staffed by Azure with technical assistance from JOGMEC. Stage 1 exploration commenced in January this year with geological mapping and sampling, an Induced Polarisation (IP) survey, an aeromagnetic and radiometric survey, and a reconnaissance diamond core drillhole to 502m depth. In excess of US$400,000 was expended on the Stage 1 exploration program, and the results were very encouraging, identifying five exposed and three buried targets. JOGMEC have now committed to Stage 2, the second earn-in phase of the joint venture. Stage 2 exploration will include further IP surveying, ground magnetics surveys, detailed geological mapping and sampling, and 3 deep (+500m) drill holes. A budget of US$600,000 (approximately A$750,000) has been approved for this program. Azure Minerals Executive Chairman, Anthony Rovira, said that even though the joint venture has been underway for only a short time, it had already produced very promising results. "We have identified several targets at La Tortuga which warrant considerable follow-up work, including drilling which will commence in the middle of this year," said Mr Rovira. "The next stage of exploration now underway at La Tortuga will see a sustained exploration program take place throughout the remainder of 2009. We look forward to the results this program can deliver." Stage 1 mapping and sampling identified several areas containing porphyry-style alteration with anomalous copper and molybdenum mineralisation at surface. Strong IP chargeability anomalies located along a northwest trending structural corridor and possibly representing significant-sized bodies of sulphide mineralisation have been identified (see Figure 1). The southernmost (and weakest) of the four anomalies, was drill tested by the drillhole TOR-DD-001 with encouraging results. TOR-DD-001 encountered disseminated and veinlet sulphide mineralisation hosted in strongly altered porphyry rocks and returned highly anomalous metals values, confirming the presence of a mineralised porphyry system in this area. Work on the Stage 2 exploration program is already in progress, with the IP survey and detailed geological mapping and sampling underway. "Our partnership with JOGMEC allows Azure's exploration team to maintain a vigorous exploration program at La Tortuga, backed by JOGMEC's expertise and resources. The rapid pace and comprehensive exploration approach will build quickly towards our shared objective of discovering large porphyry copper deposits," said Mr Rovira. BACKGROUND The La Tortuga Project is a joint venture with Japan Oil, Gas and Metals National Corporation (JOGMEC) which is sole funding the first US$3 million of exploration expenditure to earn a 51% interest in the project. The objective of the joint venture is the discovery of large porphyry copper deposits. JOGMEC is a Japanese Government corporation established to assist in the stable supply of oil, gas and mineral resources to the Japanese economy. JOGMEC seeks to gain entry into high-potential mineral exploration projects through providing funding and technical assistance, with a view to the later introduction of commercial Japanese interests. La Tortuga covers 207km2, and is situated only three kilometres east of the El Tecolote Mine, (previous production of 1.6Mt @ 1.8% copper, 6.9% zinc and 50g/t silver). The project area is located 90 kilometres northwest of Hermosillo, the capital of Sonora State, where Azure has its exploration and administration base. The Joint Venture is managed and staffed by Azure with technical assistance from JOGMEC.
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