Azul Ventures Inc. (TSXV:AZL) announced that it is dropping the Findel option agreement, which includes the Hogar, Lolita, Santa Rosa and Santa Gertrudis mineral rights.
As quoted in the press release:
The Company regards the Findel Property as non-core and peripheral to the main mineralized zone on the La Higuera Property on which future exploration drilling and development will be planned. The focus of the Company’s exploration at the La Higuera Property will be on the San Antonio, Mina Sol and La Sin Nombre mineral rights. Option payments on these properties, under renegotiated terms totaling US$114,000, were made earlier in December.
Azul’s President and CEO, David O’Connor, said:
The mineral rights blocks within the remaining five agreements cover the core of the most prospective zone at La Higuera, on which two open pit mines are currently exploiting copper oxide ore and beneath which the Company believes there is substantial high grade copper sulphide mineralization.