THE DRILL SERGEANT: Azure Minerals (ASX: AZS) received the final assay results from a resource drill-out program undertaken on the East Zone at the company’s 100 per cent-owned Oposura zinc-lead-silver project in Mexico.
Azure Minerals said that having completed the drilling and subsequent results it has started the mineral resource estimate for the Oposura project.
Assays received from final East Zone resource drill holes, include:
12.25 metres at 16.3 per cent zinc plus lead (Zn+Pb) (12.4 per cent zinc and 3.9 per cent lead)
3.2m at 20.9 per cent Zn+Pb (13 per cent zinc and 8 per cent lead);
2.95m at 17.9 per cent Zn+Pb (10.3 per cent zinc and 7.7 per cent lead); and
2.50m at 27.2 per cent Zn+Pb (24.8 per cent zinc and 2.4 per cent lead).
Azure has previously noted, high-grade mineralisation located immediately adjacent to existing underground development of Tunnel D at the project, which is approximately 2m wide and 2.5m high.
The company believes this tunnel could easily be stripped to accommodate modern mechanised mining equipment and that pre-production mine capital costs under this scenario would also be very low.
The latest results have confirmed a large zone of thick, high-grade mineralisation, with an overall average grade approaching 20 per cent combined Zn+Pb adjacent to and extending north and south of the existing underground exploratory mine workings of Tunnel D.
“It is pleasing that the assay results from the final drilling into the East Zone at Oposura identified additional high-grade mineralisation close to the existing underground mine tunnels,” Azure Minerals managing director Tony Rovira said in the company’s announcement to the Australian Securities Exchange.
“The extra drilling that the company undertook into the East Zone has also significantly improved our understanding of the geometry of the deposit, enabling more detailed mine planning to be undertaken.
“These results provide the company with scheduling optionality for early stage open pit and/or underground mining.”