So part of the money raised in the CR will be used to continue exploration in Azure's other tenements or to look for additional projects. Here is a quick summary of those other tenements that Azure has in it's stable for the newer posters who are now on board. I would like Panchita and Loreto to have have priority myself.
Info taken from the Azure Website
El Tecolote Project
El Tecolote was explored for two years in Joint Venture with JOGMEC, with a total expenditure by JOGMEC of approximately US$3m
Azure resumed ownership and control of El Tecolote project following withdrawal by JOGMEC in April 2013
Contains historical El Tecolote Copper-Zinc-Silver Mine, a skarn deposit with production of 1.4Mt @ 1.9% Copper, 7.0% Zinc and 47 g/t Silver
Excellent brownfields potential for copper-zinc mineralisation surrounding the mine and additional skarn deposits
Porphyry copper potential shown by presence of altered porphyry with quartz vein stockwork, oxidized sulphides and copper oxide mineralisation located 4km south of the mine
Exploration undertaken includes geophysical surveys (aeromagnetics, VTEM and IP), geological mapping and sampling and diamond drilling
Diamond drilling by Azure on the property has intersected:
11.0m @ 1.3% Copper, 3.0% Zinc, 7.1g/t Silver,
13.6m @ 13.9% Zinc
30.5m @ 2.4% Zinc
La Tortuga Project
Exploration is being carried out in Joint Venture with JOGMEC, which can earn a 51% interest in the project by sole funding US$3 million of exploration expenditure
Azure and JOGMEC are targeting exploration models for porphyry copper or IOCG (Iron Oxide Copper Gold) deposits
Following the identification of a large, deeply buried porphyry copper target, the JV has drilled two diamond core holes – one to 926m and the other is in progress
Strongly hematite-altered intrusive rocks were intersected, returning assays with encouraging elevated values of precious metals, base metals and other pathfinder elements
Azure views La Tortuga to be a potentially company-transforming project
Loreto (Copper)
The Loreto Project was acquired in February. The property covers 9,571 hectares and is located on the east coast of the Baja California peninsula. It is situated 6 kilometres north of the town of Loreto (population: 15,000), with excellent access via the sealed Mexican National Highway #1 which passes through the middle of the project area. Loreto is well serviced by existing infrastructure, with direct flights from Los Angeles International Airport and by Mexican National Highway #1 from the state capital La Paz.
Azure’s first reconnaissance exploration program at Loreto identified two areas with potential to host significant copper mineralisation. Surface sampling was very successful, with 24% of samples returning copper grades greater than 1% with some very high grades of copper and precious metals, including:
Several targets for sediment-hosted and structurally-controlled copper deposits have been identified, and Stage 2 exploration, comprising more detailed surface mapping and sampling, has recently been completed with results awaited.
Panchita Gold Project, AZS 100%
n March 2013, Azure acquired 100% ownership of the Panchita Gold Project, located in the state of Sonora, Mexico.
Panchita is situated within the strongly gold-mineralised northwest district of Sonora, which is known to host many major gold mines/deposits and is prospective for large shear hosted bulk tonnage gold deposits. Gold mineralisation is widespread in the district (see Figure 1) with several major gold mines nearby.
Panchita covers an area of 136 hectares and is located approximately 350 kilometres northwest of Hermosillo, the capital city of Sonora.
Azure’s reconnaissance exploration commenced in April 2013 with a surface sampling program targeting outcrops, old mine workings and mine dumps. A total of 66 samples were collected (see Figure 2 for locations). Thirty three samples (50%) returned greater than 0.5g/t gold, with 25 samples (38%) returning greater than 1g/t gold. Significant silver values were also returned from many of the samples. Numerous high grade gold assays (some containing visible gold) were returned, including:
PAN-1063: 44.9g/t Gold & 33g/t Silver
PAN-1004: 37.8g/t Gold & 71g/t Silver
PAN-1014: 28.7g/t Gold & 124g/t Silver
PAN-1070: 23.8g/t Gold & 3 g/t Silver
PAN-1071: 23.8g/t Gold & 5 g/t Silver
PAN-1001: 20.7g/t Gold & 13g/t Silver
The current work program for Panchita involves additional detailed sampling and geological mapping in preparation for trenching to be followed by drill testing of the best targets.
