Azure active at Meguma

Vancouver-based Azure Resources (AZR-V) is underground on the Mooseland project, 70 km north of Halifax, where it recently took a bulk sample of more than 2,000 tonnes from the Irving, Little North and Cummings vein systems.

Azure drove a 153-metre-long decline to intersect these vein systems at a vertical depth of 55 metres below surface. The bulk sample will be processed using the refurbished Dufferin mill, near Port Dufferin, which has a capacity of up to 225 tonnes per day. The object of the program is to confirm grade and tonnage. The layout of the underground activity was determined after the company completed six diamond drill holes in the spring of 2003, which intersected several mineralized narrow veins highlighted by 0.95 metre of 15.9 grams, 15 cm of 19.7 grams, 2.1 metres of 37.6 grams, and 0.4 metre of 205 grams.

Azure will wait to receive the initial bulk-sampling results before resuming underground decline work in the spring.

Under an option agreement with Globex Mining Enterprises (GMX-V) signed in May 2002, Azure can acquire the property by completing a bulk sample of at least 2,000 tonnes and paying a total of $1.5 million in quarterly payments of $250,000.

Mooseland contains a historical resource of 432,838 tonnes with an uncut grade of 17.74 grams, equivalent to 246,870 oz., or a cut grade of 5.15 grams, equivalent to 71,670 oz., to a depth of 400 metres. The resource estimate was calculated in 1989 by MPH Consulting, based on previous drilling by privately run Acadia Mineral Ventures and Hecla Mining.

Azure recently earned a 51% interest in the Dufferin mine property from Newfoundland Goldbar Resources (YFB-V) by completing $925,000 in property expenditures and paying $75,000. The pair plan to reprocess the existing Dufferin tailings.

Scorpio Mining (SPM-V), which has been conducting preliminary work at the Cochrane Hill deposit in Guysborough Cty., is also active in the Meguma terrain.