Azure Minerals Claims New Alacrán Copper Discovery

THE DRILL SERGEANT: Azure Minerals (ASX: AZS) claimed discovery of high-grade copper mineralisation at the company’s 100 per cent-owned Alacrán project in Sonora, Mexico.

Azure Minerals made the copper discovery at the Gregors prospect while other drilling intersected further gold mineralisation at Mina San Simon.

The Gregors prospect was originally spotted by Azure’s geologists in early 2016, after which an airborne VTEM geophysical survey was flown over the entire Alacrán project area, detecting a small and discrete, reasonably intense electromagnetic (EM) response.

No further exploration was undertaken over this anomaly until late in 2019, when Azure regained full ownership and control of the Alacrán project from former partner Teck Resources.

RC drilling intersected wide zones of breccia and strongly altered volcanic rocks containing visual quantities of disseminated chalcopyrite (copper sulphide) mineralisation.

Results included:

30 metres at 0.68 per cent copper from 22.5m, including 6m at 2.3 per cent copper; and

18m at 0.96 per cent copper from 21m, including 1.5m at 7.03 per cent copper.

The company considers the presence of strong copper mineralisation hosted by iron-rich breccia to be promising as numerous high-grade, copper-rich breccia pipes associated with nearby copper porphyry bodies have been discovered and mined in the Cananea mining district.

Azure is undertaking a detailed data review and interpretation plus initial mineralogical and metallurgical studies to assess potential and assist with planning a follow-up drill program.

“Our exploration team has a strong and successful history of discovering new deposits at Alacrán,” Azure Minerals managing director Tony Rovira said in the company’s announcement to the Australian Securities Exchange.

“With this discovery of the buried copper mineralisation at Gregors, we are continuing to identify high-value precious and base metals targets, reinforcing the prospectivity of this exciting project and the technical skills of our exploration team.

“The discovery of strong copper mineralisation hosted by iron-rich breccia at Gregors is very promising, as there is a history of discovering and exploiting high-grade, copper-rich breccia pipes in the surrounding Cananea mining district, particularly at the nearby Cananea copper mine located 10 kilometres to the northwest.

“I’m looking forward to completing our interpretation of the results and recommencing drilling as soon as practicable.”

The company also completed one RC hole (MDPC-168) to test at the historical Mina San Simon mine located about 700m southeast of the southern Loma Bonita resource boundary, an area that is mostly untested by drilling.

A hole drilled by Azure in 2015 (LM-02) intersected a void created by the old mine workings that had extracted the mineralised zone.

The company noted that MDPC-168 drilled below these old mine workings and returned a well-mineralised gold and silver intersection, hosted in vuggy and massive silica, of:

21m at 2 grams per tonne gold and 64g/t silver from 19.5m.

The company indicated that further drilling to test the vuggy silica mineralised zone, which is interpreted to extend further to the east and south beneath the Cerro San Simon hill, will be undertaken in the next drill program.