Sprott Asset Management USA Inc.


Azure Minerals - Alacran, N Mexico - Oct 2015

Andrew Jackson visited ASX-listed Azure’s Alacran project in NE Sonora, Mexico, on Oct 13/14, 2015, focusing mostly on the Mesa de Plata silver target.  Access to the property is excellent – a 4 hour drive NE from Hermosillo on good paved road to Cananea and then a 15 km drive on a partially upgraded dirt road to site.  Grupo Mexico is upgrading the dirt road as they will use it to access the new Canalea tailings facility that is being constructed at the moment.  The Canalea pit is being hugely enlarged, and it is already the second biggest Cu porphyry open pit in North America, after Bingham Canyon. The road to the new tailings dam passes within 400m of Mesa de Plata.

The Alacran property is located on the eastern flank of a series of intrusions that form a NNW-SSE corridor, stretching 150 kms from just N of the US border, down to the La Caridad mine.  This is a very productive trend that shows up clearly on the regional gravity data.  Canalea and Alacran are near the center of this chain of deposits.  The intrusions are thought to be Cretaceous, i.e. older than most of the Sierra Madre porphyry/epithermal systems, and they intrude a thick sequence of andesitic volcanics of a similar age. 

The Mesa de Plata target in the Alacran property, is underlain by these same volcanics.  The Ag mineralization is associated with a horizon of vuggy silica that dips shallowly to the NE and outcrops prominently.  The vuggy silica is a hydrothermal alteration product of the andesite volcanics. leached by the very hot acid fluids/gases that preceded the mineralization.  The initial acid fluids were followed by cooler and less acid fluids which apparently deposited Ag, Zn and Pb in the porous vuggy silica.  The Ag appears to have been redistributed during weathering, however it probably didn’t move far from its point of origin.

Azure has just begun a small core drill program, as a prelude to a much bigger RC drill program that will be designed to allow production of an ore reserve estimate.




The foregoing discussions are a result of site visits and are not to be construed as a recommendation, an endorsement or as investment advice. Sprott Asset Management USA, entities that it controls, family, friends, employees, associates, and others may hold positions in these securities, may recommend them to clients, and may sell the same at any time.

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