Sara Alicia (AZS 100%)
The Sara Alicia Project is located on the western flank of the Sierra Madre Occidental mining province which hosts major operating gold, silver and copper mines. Access to site is good with a sealed road to the town of Alamos and the nearby Piedras Verdes Copper Mine, and then via gravel roads to site.
Historically, Sara Alicia was a small-scale producer of gold and cobalt in the 1930s from an underground mining operation. No production records are available, however historical plans and reports indicate that the mine was operated on six levels to a depth of approximately 60m below surface.
Azure carried out reconnaissance mapping and sampling within the Sara Alicia concession and in the surrounding district. Sampling of outcrops, mine dumps and old mine workings returned many significant assay results (refer ASX announcement dated 23 August 2017), including:
Geologically, the Sara Alicia prospect hosts a sequence of carbonate rocks which have been intruded by a granodiorite porphyry. This intrusive event caused alteration and mineralising reactions in the limestones forming skarns, with precious and base metal mineralisation introduced into several separate horizons (or mantos) within the limestone sequence. One manto hosts the gold-cobalt mineralisation, while two and possibly more mantos contain copper-zinc-silver mineralisation.
Azure expects to drill the gold-cobalt and copper-zinc-silver targets in late 2017.