Company Profile
Azure Minerals Limited (ASX Code: AZS) is a mineral exploration company operating in the richly mineralised Sierra Madre Occidental mining province in northern Mexico. Azure is focused on developing precious and base metal mining projects with the objective of becoming an independent minerals producer.
The Company is committed to short term value-added growth by advancing its high grade Promontorio copper-gold-silver project to production. Azure has produced an initial JORC Code resource of:
502Kt @ 4.7% copper, 2.1g/t gold & 99g/t silver.
Further drilling will be undertaken to increase these resources. Initial metallurgical testwork on a bulk sample from Promontorio has returned very positive results, confirming the Company’s view that very high metal recoveries will be achievable during commercial scale production.
In late 2008, Azure entered into a Joint Venture with the Japanese government corporation JOGMEC to target large porphyry copper deposits on Azure’s 100%-owned La Tortuga and Los Nidos properties. JOGMEC is sole-funding the first US$3M of exploration expenditure within 3 years to earn a 51% interest in this project.
In addition, Azure holds numerous other 100%-owned and joint venture (60%-owned) properties covering an area of 211,100 hectares (2,111 km2). Azure is seeking farm out / sale opportunities for these non-core properties.