El Tecolote – Copper-Zinc-Silver

Ownership: AZS 100%

---

Project Overview:

Azure’s El Tecolote property contains the historical skarn-hosted El Tecolote Copper-Zinc-Silver Mine, which produced 1.6 million tonnes @ 1.8% copper, 6.9% zinc and 50g/t silver in the late 1970’s to mid-1980’s. Production at the mine was halted due to low metal prices – however very strong brownfields potential remains for copper-zinc mineralisation in the surrounding area.

Azure has completed geophysical surveys (airborne VTEM, aeromagnetics, ground magnetics and IP) geological mapping, sampling and diamond drilling, with tested targets including extensions of the El Tecolote Mine and several nearby porphyry copper prospects.

Drilling undertaken across the prospect intersected significant mineralisation over a 200m strike length near the Tecolote mine workings, with results including;

• 6m @ 6.9% Zinc from 125.1m
• 5m @ 2.4% Zinc from 60.5m

Azure has identified the potential for the following scenarios to exist at El Tecolote:

• 2 to 3 million tonnes of skarn hosted mineralisation at the historical grades in strike and depth extensions, remnant ore in the old mine workings, and in repetitions

Future exploration will comprise additional drilling, mineral resource estimation, and metallurgical testwork on the tailings and drill core.