Azure Minerals survey confirms porphyry target
THE DRILL SERGEANT: Azure Minerals (ASX: AZS) has completed a ground gravity survey, which has delineated two large, dense bodies at the company’s 100 per cent-owned La Tortuga project in Mexico.
Azure has measured the larger of the two bodies to cover an area of 2,400 metres by 1,200 metres at its widest point, while the smaller, northern gravity high measures 1,600m by 1,200m.
Both bodies overlap a strong ovoid-shaped aeromagnetic anomaly.
Image showing two strong gravity highs within survey area (red box)
and location of Azure’s two drill holes. Source: Company announcement
“We’re very pleased that the gravity survey has identified two high density bodies coinciding with the strong aeromagnetic anomaly at La Tortuga,” Azure Minerals managing director Tony Rovira said in the company’s announcement to the Australian Securities Exchange.
“These latest results provide the company with further confidence that La Tortuga demonstrates the potential to host a porphyry copper deposit.
“As a result, Azure and Joint Venture partner JOGMEC have elected to proceed to the next stage of exploration which will involve diamond drill testing to 1,000 metres.”
Azure has carried out data modelling, which it said indicates both gravity bodies commence approximately 600m below surface.
This coincides with the modelled depths of the magnetic and MT anomalies, which the company said had also been confirmed by two previous drill holes that intersected the targeted basement rocks at depths of 635m and 595m.
The drill holes were aimed at the core of the aeromagnetic anomaly with both penetrating into the upper part of the target zone intersecting altered intrusive rocks to return anomalous precious metal and base metal assays.
Following a review of these exploration results, Azure and its Japanese government JV partner JOGMEC have agreed to proceed to the next stage of exploration.
This will consist of diamond drill testing of these anomalies to a target depth of 1,000m.