Azure Minerals Limited (ASX:AZS) (OTCMKTS:AZRMF) has completed a strategic review of its precious and base metals projects in Mexico, including the 100%-owned Alacrán silver-gold-copper and Oposura zinc-lead-silver projects.
The review concluded that with the company now clearly focused on advancing the Andover Nickel-Copper-Cobalt Project in Western Australia, a trade sale of the Mexican assets would provide the best outcome for shareholders.
Sale process underway
Following an assessment of a number of alternative proposals, Azure has mandated PCF Capital Group to commence a targeted and structured sale process over the next few months.
PCF Capital Group provides services to the resource sectors in Australia and North America, with a range of corporate advisory services including project evaluations, M&A, asset divestment and acquisition processes, plus project finance solutions and international capital raisings.
Interested parties are invited to review the Mexican assets via PCF Capital Group’s MinesOnline.com platform.
Andover Project exploration
Azure has completed 43 diamond drill holes across more than 18,000 metres to date at the Andover Project.
Two diamond drill rigs are testing the VC-07 West mineralisation and a third rig is continuing to infill drill the VC-07 East mineralised zone for mineral resource estimation purposes.
Last week, the company reported that the first of multiple holes to be drilled into two newly identified DHTEM conductors at the Project intersected two broad mineralised zones sitting about 200 metres apart downhole and about 400 metres west of the first Andover discovery, with follow up drilling underway.