Azure Minerals claims new Mexican silver discovery
THE DRILL SERGEANT: Azure Minerals (ASX: AZS) has claimed to have made a high-grade silver discovery at the company’s Alacrán project in Mexico.
Azure drilled four holes at the Mesa de Plata prospect as part of a 14-hole Reverse Circulation (RC) program over the wider Alacrán property.
According to Azure these holes intersected thick zones of high-grade silver mineralisation commencing from surface, and extending to depths of up to 70 metres.
The company has already indicated further follow-up work is being planned on what it considers to be a large, economically significant silver deposit.
Four vertical RC holes (LM-06 to LM-09) were drilled, spaced between 120m and 160m apart along the surface of the mesa.
Each hole was drilled to a depth of about 90m and samples were collected over 1.5m intervals.
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Source: Company announcement
Azure said the drilling demonstrated the vuggy silica zone at the prospect extends to between 33m and 70m below surface.
In all four drill holes, medium to high grade silver mineralisation is hosted throughout the vuggy silica.
The company noted that some silver mineralisation is also contained immediately below the vuggy silica layer within the underlying volcanic rocks.
Although the silver mineralisation itself is not visible, the host vuggy silica rock is easily recognisable in outcrop and in the RC drill cuttings.
Azure believes the results from the drilling demonstrate the silver mineralisation to be consistent throughout the vuggy silica layer.
“This is the first drilling program to be carried out at Mesa de Plata, and to find large thicknesses of strong and consistent silver mineralisation starting from surface, including internal zones of very high grade silver, is an excellent achievement,” Azure Minerals managing director Tony Rovira said in the company’s announcement to the Australian Securities Exchange.
“This is a significant discovery, and is a credit to the perseverance and technical skills of our team in Mexico.
“Obviously more drilling is required, but with the thickness of the mineralised layer, the high-grade of the mineralisation, and its location forming the top of a hill, I believe that Mesa de Plata has excellent potential to be a large, economically significant, silver deposit.”
Email: admin@azureminerals.com.au
Website: www.azureminerals.com.au