AZL

Azul Ventures Corp. (TSX VENTURE:AZL) ("Azul" or the "Company") is pleased to
report results of a detailed ground magnetic survey, trenching and concentrate
production from bulk sampling at its Don Baucha prospect in the Caballo Blanco
mineral block in Chile.


MAGNETIC SURVEY

Several old magnetite iron workings are located at the Don Baucha project. Azul
commissioned Argali Geofisica E.I.R.L to complete a detailed ground magnetic
survey to determine the possible extension of shallow magnetite mineralization
associated with the workings. The survey outlined a number of intense
east-northeast trending anomalies, some of which are associated with the
magnetite exposed in the workings and some of which are adjacent to the workings
(see Figure 1).


To view Figure 1 accompanying this press release, please visit the following
link: http://media3.marketwire.com/docs/907996.pdf


Joe Jordan, M.Sc. of Argali Geofisica E.I.R.L, concluded that:

"The North-South ground magnetic lines at 50 and 25 metre spacing outline
multiple strong, narrow magnetic anomalies that are indicative of magnetite
veins near the surface. The highest concentration of strong, shallow anomalies
occurs in the southwestern portion of the grid where numerous anomalies are
identified in an area with known magnetite workings.


Several larger, deeper magnetic bodies are outlined. The largest body in the
southwest measures 300 x 300 metres while a North-South trending body in the
north-central measures approximately 100 x 700 metres. These bodies are modeled
with magnetic susceptibilities' in the range of 0.65 to 1.0 SI which are
sometimes indicative of economic magnetite grades. Drill testing of these larger
magnetic bodies is recommended."


REPRESENTATIVE AND BULK SAMPLING

Representative and bulk sampling were carried out over the waste dump material
associated with the workings and the results returned very encouraging iron
values. Three representative samples were collected from each of the 3 main
areas of old iron workings. Each sample is a composite of material from 10 to 15
shallow pits dug into the dumps at locations selected to be representative of
the dumps. These three samples were analysed at the ALS Laboratory in Chile.




----------------------------------------------------------------------------
Sample                                           Silicon  Titanium          
No.        Iron  Manganese  Phosphorus  Sulphur  Dioxide   Dioxide  Vanadium
----------------------------------------------------------------------------
4723     45.78%     0.044%      0.219%   0.008%    26.6%     0.96%    0.259%
----------------------------------------------------------------------------
4724     46.32%     0.036%      0.466%   0.006%    27.2%     1.11%    0.272%
----------------------------------------------------------------------------
4725     44.68%     0.065%      0.099%   0.008%    29.3%     1.22%    0.283%
----------------------------------------------------------------------------



BULK SAMPLING

A 100 tonne bulk sample was randomly collected from two different mine dumps,
which was considered approximately representative of the overall material. A
loader deposited the material into trucks which transported the material to a
crusher/magnetic separator plant at La Higuera, a distance of nine kilometres
away, where it was treated. The sample was not collected as a basis for the
calculation of tonnage and grade of a resource, but to determine the
practicality of loading, transporting and treating the dump material. Analytical
results received are much better than anticipated, suggesting a considerable
saving on transport and treatment costs than originally assumed, which has the
potential to make the project economic.


A high grade magnetic concentrate was produced from the high grade dump
material. Results are as follows:


HEAD GRADE

Total iron - 58.76% Fe

Magnetic iron - 43.10% Fe

CONCENTRATE GRADE

Total iron - 66.97% Fe

Magnetic iron - 63.70% Fe

The samples were analysed at Cesmec laboratory in Santiago, Chile, which is the
laboratory used by the owner of the treatment plant for commercialization of the
magnetite concentrate. Azul has signed a profit sharing agreement with the owner
of the plant, based on revenue received from sale of the concentrate. 


TRENCHING

A program of trenching using an excavator was commenced to test for extensions
of shallow magnetite mineralization. To date, trenching has exposed several
bands of high grade magnetite mineralization and further trenching is planned.


David O'Connor, President and CEO, said, "We are very encouraged by the results
of the detailed magnetic survey and sampling at the Don Baucha iron project at
Caballo Blanco. Azul plans to commence treating magnetite dump material followed
by shallow open pit mining of the magnetite veins as soon as the required
government permits are obtained, which is expected to take approximately one
month."


RESIGNATION OF DIRECTOR

The Company would also like to announce the resignation of Catherine Gignac from
the Board of Directors and wishes to express its deep gratitude for her positive
contributions while a director. The Company wishes her the best in her future
endeavours.


Michael Schuler, M.Sc., CPG, Vice President Exploration, is a "qualified person"
as defined by National Instrument 43-101, and has reviewed and approved the
technical information and data included in this press release.


About Azul Ventures Inc. 

Azul Ventures Inc. is a mineral exploration company with the rights, through its
wholly owned subsidiary Minera Azul Ventures Limitada, to acquire a 100%
interest in two prospective copper-iron properties in La Higuera, Chile: the La
Higuera Property and the Caballo Blanco Property. The properties are located
approximately 600 km north of Santiago in a prolific I.O.C.G. belt surrounded by
excellent infrastructure in a mining friendly jurisdiction.


The La Higuera Property was assembled as a result of the first-time
consolidation of mining rights and covers a historic copper mining district with
mining activity dating back to at least the late 18th century; however, there
had been no known modern exploration conducted on the property. The mining
concessions total 1,076 hectares and include two option agreements with separate
concession holders (down from a total of 1,230 hectares which included four
option agreements with concession holders, as two option agreements have been
dropped). Since the consolidation of the mining rights in June 2011, Azul
completed a rock sampling program, completed geophysical work which generated
intense magnetic and chargeability anomalies coincident with existing copper
workings, finalized a 4,088 m drill program and an underground mapping and
sampling program.


The Caballo Blanco Property, which begins approximately 1 km southwest of the La
Higuera Property, has historical copper workings and a total of 15 broad spaced
reconnaissance holes were completed at Caballo Blanco by previous option
holders. The Company has received and logged the core from these historical
drill holes.


Cautionary Statements

Information set forth in this news release may involve forward-looking
statements under applicable securities laws. Forward-looking statements are
statements that relate to future, not past, events. In this context,
forward-looking statements often address expected future business and financial
performance, and often contain words such as "anticipate", "believe", "plan",
"estimate", "expect", and "intend", statements that an action or event "may",
"might", "could", "should", or "will" be taken or occur, or other similar
expressions. All statements, other than statements of historical fact, are
forward-looking statements. By their nature, forward-looking statements involve
known and unknown risks, uncertainties and other factors which may cause the
Company's actual results, performance or achievements, or other future events,
to be materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such factors include,
among others, the following risks: the need for additional financing;
operational risks associated with mineral exploration; market conditions;
fluctuations in commodity prices; title matters; environmental liability claims
and insurance; reliance on key personnel; the potential for conflicts of
interest among certain officers, directors or promoters with certain other
projects; the absence of dividends; competition; dilution; the volatility of our
common share price and volume and the additional risks identified in the "Risk
Factors" section of the Company's Filing Statement or other reports and filings
with the TSX Venture Exchange and applicable Canadian securities regulations.
Forward-looking statements are made based on management's beliefs, estimates and
opinions on the date that statements are made and Azul undertakes no obligation
to update forward-looking statements if these beliefs, estimates and opinions or
other circumstances should change, except as required by applicable securities
laws. Investors are cautioned against attributing undue certainty to
forward-looking statements.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Azul Ventures Corp.
David O'Connor
President and Chief Executive Officer
(416) 907-7363
info@azul-ventures.com
www.azul-ventures.com

(TSXV:AZL)
Historical Stock Chart
Von Mai 2024 bis Jun 2024

(TSXV:AZL)
Historical Stock Chart
Von Jun 2023 bis Jun 2024