THE DRILL SERGEANT: Azure Minerals (ASX: AZS) announced completion of a resource definition drilling program undertaken at the company’s flagship Oposura project in Mexico.
Azure Minerals released further high-grade zinc and lead assay results from the drilling program with the latest batch stemming from the East Zone, which delivered thick intervals of high-grade zinc and lead sulphide mineralisation.
The company explained the mineralisation has been shown to commence in surface outcrop, extending horizontally at shallow depths over an area of approximately 400 metres (east-west) by 300 metres (northsouth).
The mineralised zone remains unconstrained to the north and west.
Some of the more impressive East Zone mineralised intersections from the latest results include:
5.5m at 20.9 per cent zinc and lead (Zn+Pb) from 95.15m;
9.6m at 18.2 per cent Zn+Pb from 50.6m;
7.2m at 13.9 per cent Zn+Pb from 41.7m;
3.4m at 19.3 per cent Zn+Pb from 13.05m;
7.4m at 17 per cent Zn+Pb from 38.85m; and
5.4m at 16 per cent Zn+Pb from 00.00m.
Azure identified the near-surface mineralisation within the eastern and southern areas is likely to be mined by open pit and, where the terrain rises to the west and north, underground mining is expected to be carried out using a simple room and pillar mining method utilising industry-standard mechanised mining equipment.
Azure explained the need to increase the number of drill holes within and surrounding both the East and West zones from the initial estimate of 120 to 156 to get the best result possible out of the drilling program.
“This expansion of the drill program resulted in an extra two months of drilling, and accordingly a commensurate increase in time to complete the resource estimate,” Azure Minerals said in its ASX announcement.
“The resource estimate is now expected to be completed in late May to June.
“These extensions are not expected to affect the delivery of the Scoping Study / Preliminary Economic Assessment, which is still scheduled for completion in the third quarter of 2018.”