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AZS - Azure Minerals

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Announcement, and not 3 minutes after I sold my little parcel.....


LA BUFA DRILL RESULTS
Azure Minerals Limited (ASX: AZS) has received assay results for the three diamond core holes completed at the La Bufa prospect within the San Nicolas Project in Sonora, Mexico.
The three holes were drilled for a total of 457m to follow up anomalous channel samples, which included 30m @ 800ppm Mo, 32m @ 560ppm Mo and 8m @ 1100ppm Mo.
Drill intercepts to highlight include:
NIC-DD-001 37m @ 334ppm Mo from surface
Incl: 3.35m @ 1,450ppm Mo from surface, and
1m @ 1,700ppm Mo from 11m
And: 16m @ 0.49% Cu, 0.23% Zn, 11.5g/t Ag from 71m
No significant intercepts were returned from NIC-DD-002 and NIC-DD-003, although anomalous molybdenum and copper values are commonly present in both holes.
The pegmatitic rhyolite that hosts mineralisation continues to the south of hole NIC-DD-001, and recent surface work has revealed the presence of small historical workings in this area. Further work will focus on extending the mineralisation in this area, as drilling has not adequately explained the encouraging channel sample results.
The La Bufa prospect is situated in a well mineralised district, located about three kilometres west of the Los Verdes molybdenum-copper-tungsten deposit (12Mt @ 0.12% Mo, 0.43% Cu & 0.08% W) and two kilometres south of the La Cruz Mo-Cu-W deposit.
CONTINUING DRILLING CAMPAIGN
The drill rig has moved to the Pozo de Nacho Project, where a 6 hole, 1,500m program is in progress.
Previous drilling by Azure at Pozo de Nacho returned strongly anomalous Mo and Cu values over significant widths associated with intensely altered quartz porphyry intrusives. Intercepts included: 198m @ 0.06% MoS2; 5.5m @ 0.11% MoS2; and 5.0m @ 0.21% MoS2.
The current program is targeting extensions to mineralisation intersected in previous holes, and will also test strong chargeability highs (indicating extensive disseminated sulphide mineralisation) identified after the previous drill program was completed.
-ENDS-

Not much in there as far as I can see.....

Baz
 
AZS was very overhyped in the last few weeks. La Bofa results are a dud. Shows the danger of assuming rich surface samples are continuous underground over a wide area. One hole has OK results but it is not continuous where drilled.
 
good to see the first lot of drill results out right on time from La Bufa, some quite incredible molybdenum grades 1.7% compare that with the cutoff grade of DGR project of 0.04%, I am not an expert on molybdenum grades but I have never seen such high grades before.

Don't worry if there is a correction after the initial results as traders move their funds elsewhere, they will be back as there is plenty of news to follow.

I will be using it as a chance to top up again at a lower price.

As I was saying yesterday I have come accross another little gem in the zinc/lead space being Sipa Resources (SRI)

Would be interested to hear peoples thoughts.
 
ROFLMAO, Shows that you can be lucky sometimes. I was a bit dark when I saw that I had stopped out and sold right before the announcement.

I guess that shows the value of a trailing stop loss..

I still like the story with AZS though so I might get back in again when I settle down a bit. ;-)

Baz
 

Lots of this stuff in Mexico. The first two holes had no grades at all of moly. The third was OK, so the stuff is completely discontinuous in the area of the drill holes especially when compared with the surface grades. There is moly in this area but it is very uneconomic.
 
looks like AZS is going to find its feet around the 20c mark.

once again like I previously posted be careful not to chase this one up to far to fast, yes there is plenty of news to come but just be careful and time your entry point.

your certainly right sydneysider there is molybdenum in the area and it is only early days for AZS they need to be given time to explore and define what is actually there.
 

Good to see that they've moved the drill to Pozo Del Nacho (Man I love that name)

PDN is their flagship project. By moving the drill there, Azure are expediting drilling at PDN.

Its good to see them getting their priorities right.
 
is it a good time to buy the stock? for say holding it for 1-3 months? should i wait till the end of the day or next week?
 
taz2007 said:
is it a good time to buy the stock? for say holding it for 1-3 months? should i wait till the end of the day or next week?
Click to expand...

Hey, Taz... That's a call only you can make. Nobody is going to say whether or not you should buy anything or when to buy it if you do. Read the thread, DYOR, and make up your own mind. In the end, you have to decide on a price you are willing to pay based on your own assessment of what AZS is worth now, and what you think it might be worth in future.

I dont hold AZS but will continue watching...

Maz
 
taz2007 said:
is it a good time to buy the stock? for say holding it for 1-3 months? should i wait till the end of the day or next week?
Click to expand...

Mazrox said:
Read the thread, DYOR, and make up your own mind.
Click to expand...

Taz, I am guessing you are new to this game. If you aren't please ignore the following.
Get into Fundamental and or Technical Analysis and develop your own opinions. Following tips, without your own research, is a recipe for disaster.
:disgust:I am sorry for being patronising but I feel that learning about trading is the best part and you could be missing out on alot of fun and experience. Its like that saying "its the journey not the destination, that important".
All the best
Jammin
 
Well, I'm back in at 20c, which looks like support. I think today was just the correction after yesterday's spike, and the flag will soon be flying again. Last nights SMA chart was still positive, I'll post up tonight's when it becomes available. Cheers.
 

Hi Moses, I am a relative beginner to charting and would appreciate some insight as to why you believe (from a charting perspective) that 20c is a good entry point. I don't hold shares in the company, but an interested from an educational perspective.

Thanks
 
Yep after the initial sell down in traded all afternoon in the 19.5c to 20.5c channel. tested 21 c but was hammered down time after time. 20c definitely looks like support which is reassuring.

irrational behaviour by investors given it was not the core drilling result we are all looking for. profit taking and a bit of panic at the neutral sounding announcement is all i can put it down to.

there should be life in this play yet. be interested to see how it moves into the next announcement. its still has great fundamentals as far as i can see.

viva la revolucion (excuse my Spanish).

have a good weekend azurites. it really was a battle at the OK Carroll today if you don't mind me using yet another Mexican pun.
 


This stock made me laugh today

I hold and am happy with the fundamentals.

I knew nothing about LaBufa, and couldn't have cared less, as Poza Del Nacho is their main play and is what they're concentrating on.

So it seems as though this stock was traded on La Bufa

So to all those who sold out in panic....thanks for giving me a good laugh.

As for 'Ok Carroll'...its actually 'OK Coral' and was famous for a gunfight in Arizona not Mexico. Get it right Bushy:
 
Well..I'm a total beginner to charting, you really need to ask Kennas or someone. However, fwiw, looking at the chart below and its pretty clear that 20c has been the resistance point for a while (not to mention read the previous posts and thats what several people have said) and then all day today the price hovered around 20c once the correction had taken place, strongly implying that 20c is now support. This is a fairly normal pattern, and is in fact is exactly where the SP ended up.
 

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Just spent an hour writing a post and my session timed out so I lost it all!! Can the mods please do something about this. Pain the a***.

Ok so starting again.

La Bufa result needs to be seen in the context of of the overall AZS CY07 drilling campaign.

- Potreritos (already announced). JV property. 5 diamond drill holes where 3 holes intersected visible copper sulphide mineralisation @ shallow depths. See the ASX ann for results. Highlights 2m @ 1.21% Cu and 16.3 g/t silver. Next stage for this drilling is resource definition.
- Jaguey (already announced). 3 drill holes all intersecting high grade silver, lead and zinc mineralisation. Follow up drilling to 'spectacular' 2006 results that returned 0.7m @ 3,180 g/t silver, 7% Lb and 7.9% Zn. These results were 'good' not 'spectacular' with the highlight being 0.5m @ 791 g/t silver, 7% Pb and 7.9% Zn.
- JV acquires 5 new properties in Sonora, Mexico (already announced). JV plus 100% owned now covers 1,118 km². Properties (Estacion Llana, Los Chinos, Llano del Nogal, El Chileno & La Ramada) all staked for prospective mineralisation (precious metals gold/silver, base metals copper/zinc/lead & bulk tonnage copper/moly). No drill/assay results as yet so dirt with potential at the moment. Will be drilled later down the track.
- High Zn assays 100% owned La Providencia. Also Pb at 5%. Next stage will be drilling the property so to early to tell at the moment.
- La Bufa. Neutral to bad early drilling results. 1 out of 3 holes returned ok intercepts; the other 2 nix. This is however only one hill (name of the hill is la Bufa due to the visible moly!) on the obverall San Nicholas project so there might still be good news here. Will be drilled again next year I would say.

Immediate future:
- Advanced drilling to be completed Pozo de Nacho (name makes me hungry). 6 hole 1500 m program on the back of 'strong anomolous Mo and Cu intercepts in 2006. This could be a winner or it could be a La Bufa. If its winner, it will go to the resource definition stage. Drilling is due to be completed in July. Announcement in August?
- Quarterly report delineating drill findings, resource def candidates, acquisitions and future drilling targets. Due this month.

Longer term:
- More assay and drill results, some Jaguey's some La Bufa's!! Holders will need to get used to some negative early drill results as Azure get a grip on what's in the ground. It wont all be good over 14 separate tenements.
- Resource definition Potreritos, Jaguey & (hopefully) Pozo de Nacho.
- Financing - TSX listing, capital raising, JV partners (inc company owned by Rio Tinto!).
- Mining? All you could say at the moment is the potential is there but the risks are large too.

So what to make of it:
- I once read a good explorer has land in mining provences, has a good management team, can raise funds and digs a lot of holes in the dirt. AZS stack up well here.
- There will be La Bufa's but there will also be Jaguey's. I hope Pozo de Nachos is the later.
- This one is at a very early stage and is risky. At the moment most of the tenements in dirt in the ground except for Jaguey & Potreritos. But results there have been excellent hence the SP appreciation of late.
- 10c, 20c, 30c, 50c. How can you give it a value when none of the resources have been delineated? At the moment the market seems to be showing stiff resistance at 20c following the short term correction from 25c. To me this is based on potential, speculation & the Fat Prophets write up.
- As Mick, PG and others have said, moly, lead and zinc are all good long term commodities with good demand/supply fundamentals for miners.

Note:
- JV is with TSV listed Geoinformatics Exploration. AZS must spend $US 4m by July 09 to earn 51%. They have spent $US2.5m to date so looking good. They can earn up to 75% by pumping out a pre feasibility study by July 2011.
- DYOR! Very risky with great potential returns. Much water to flow under that bridge though. See other Mexican miners for peer comparison as to where this one can go.
-This is my hobby, not my day job. I am basing it on my interpretation of publicly available information. I could be a Jaguey or could be a La Bufa at it.
- PG - I meant Los Alamos off course!! OK Coral indeed. My brain was fried yesterday.
- I hold AZS so obviously I would love it to do well. However I hope this reply will be seen to be objective. Good luck all.
 
Excellent post there bushman, pretty much sums up what AZS is all about.

Important thing is too be patient with this one.
 
Just want to point out that La Bufa actually was a high priority project as identified by Azure in an investor presentation in May (see website).

Top 3

Pozo de Nacho
La Bufa
Potreritos

Other Priority Projects

Jaguey
Cardelena

Bit disappointing but as mentioned by others on this thread they have other projects on the go which can potentially grow the company and SP.
 
Bushman said:
Just spent an hour writing a post and my session timed out so I lost it all!! Can the mods please do something about this. Pain the a***.
Click to expand...

Bushman, a couple of hints on how to avoid this:

1. When logging in, be sure to always check the 'Remember Me' box. This will mean you will always be logged in at ASF on that PC until you manually log out.

2. If you have just typed out a long post, before submitting it, highlight all the text, right click your mouse and select 'copy'. That way, if there is some kind of error, all you have to do is start the post again, right click and select 'paste'. This is standard procedure for me now on long posts. Takes just a second or two and can save you quite a bit of time.
 
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