THE DRILL SERGEANT: Azure Minerals has received high-grade assay results from recent completed diamond drilling at the company’s 100 per cent-owned El Tecolote project, located in Sonora, Mexico.
Exploration at El Tecolote is conducted in Joint Venture with Japanese Government organisation, JOGMEC, which has the right to earn up to 70 per cent in the project by spending US$13 million.
El Tecolote project. Source: Company announcement
Azure has reported a number of drill holes intersected wide zones of skarn-hosted, high-grade zinc mineralisation located within a horizon parallel to the historical El Tecolote mine.
The company has claimed four holes have hit visible sphalerite (zinc sulphide) mineralisation.
Azure has received results from the first hole with the mineralised intercept returning:
– 10.10 per cent zinc over 1.9 metres from 131.15 metres;
– 10.95 per cent zinc over 4.1m from 134.65m;
– within an overall intercept of 13.6 metres at 6.9 per cent zinc.
Having had the visual intercepts confirmed by assays, Azure elected to drill an additional three holes at 40m to 80m intervals along strike.
All three holes intersected significant amounts of sphalerite along with minor visible copper sulphide mineralisation.
Azure managing director Tony Rovira said he was encouraged with the outcome of the company’s first drilling program at El Tecolote.
“Identifying a new zone of high grade mineralisation is a great result from our first drilling in this area and we look forward to reporting further strong results from the remaining drill holes as soon as possible,” he said in the company’s announcement to the Australian Securities Exchange.