Azure on the hunt for new projects
PERTH (miningweekly.com) – Junior Azure Minerals is hunting for its next flagship project in Mexico, with MD Tony Rovira saying that the company has shortlisted a number of potential projects.
Rovira told delegates at the Paydirt Latin America Downunder conference in Perth, that Azure had evaluated between 60 and 70 possible acquisitions over the past few months, weeding through them to establish which were the most suitable.
“It has to be an advanced stage project, one that we can see a clear pathway to production,” Rovira said on Thursday.
“We are down to the last few at the moment, and I can say that we have some really good opportunities here. We have identified the right projects, and now we have to negotiate the right deal, and we will be in a position to grab another advanced stage project and take it forward.”
In addition to an advanced stage project, Azure was also looking at other early-stage opportunities in Mexico, where drilling was yet to be conducted but mineralisation was obvious, Rovira added.
Meanwhile, Rovira noted that the company was also in discussions with a number of potential partners for its Promontorio copper/gold/silver project, after mining major Rio Tinto withdrew from the project in early 2017.
Rovira told delegates that within a week of announcing Rio’s withdrawal from the project, on which it spent A$5-million on exploration, Azure had been contacted by two other major copper miners showing interest in the project.
“So we are seeking a new partner on this project, and we are currently engaging with a few companies at the moment,” Rovira said.
The Promontorio project covers four adjoining mineral concessions spanning 10 520 ha.
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