Azure continues run at Promontorio
THE DRILL SERGEANT: Mexico-focused Azure Minerals continues to receive good copper, gold and silver news from an ongoing diamond drilling program at its Promontorio project in Chihuahua.
Additional first-time drilling at the company’s Cascada prospect has intersected an encouraging wide zone of 137.3 metres of gold and silver mineralisation.
The Cascada drilling was carried out to follow up drill results recorded by Placer Dome in the 1990’s.
The Promontorio deposit comprises veins of massive, semi-massive and disseminated copper sulphides containing strong gold and silver credits.
Azure announced a JORC Mineral Resource, Indicated and Inferred, to date of 502,000 tonnes at 4.7% copper, 2.1 grams per tonne gold and 99 grams per tonne silver.
The deposit remains open in all directions and Azure believes that the results from drilling the along-strike and depth extensions have confirmed the potential for additional resources.
“We have concluded this phase of drilling on a very high note indeed,” Azure Minerals executive chairman Tony Rovira said in the company’s announcement to the Australian Securities Exchange.
“Not only have we extended the strike length of the Promontorio mineralised system to over 400 metres, but we have also identified a new high grade copper-gold bearing vein located to the west of the existing Mineral Resource, thereby opening up a new target for additional resources.
“In addition, our drilling at the nearby Cascada prospect has returned results demonstrating significant gold and silver mineralisation.
“Combining this with the historical drilling by Placer Dome, we conclude that Cascada is a valid bulk tonnage gold-silver target that very much merits further exploration, which we are planning.”
Latest drill intercepts received from Promontorio include:
– 0.75 metres at 5.16% copper, 0.4 grams per tonne gold and 190 grams per tonne silver from 200.55 metres;
– 3.70m at 8.83% copper, 6.6g/t gold and 57g/t silver from 18.0m, and 1.70m at 1.59% copper, 0.5g/t gold and 18g/t silver from 193.7m; and
– 5.60m at 2.53% copper, 0.4g/t gold and 26g/t silver from 218.3m, including 2.15m at 1.86% copper, 0.5g/t gold and 26g/t silver from 218.3m, and 0.90m at 9.85% copper, 1.0g/t gold and 75g/t silver from 223.0m.
Drilling at Cascada returned:
– 137.3m at 0.42g/t gold and 6g/t silver from 48.3m, hole finished in mineralisation.
Azure said the drilling it has carried out has confirmed Cascada as a valid bulk tonnage gold-silver target.
Drilling at Cascada terminated in mineralisation at a depth of 185.6m downhole, with the final sample returning 0.6m at 0.58g/t gold and 7g/t silver.
The company is of the opinion Cascada warrants significant further exploration.