Azure Minerals Enhances Loma Bonita Gold Credentials

THE DRILL SERGEANT: Azure Minerals (ASX: AZS) reported new intersects of wide intervals of gold and silver mineralisation on the company’s 100 per cent-owned Alacrán project in Sonora, Mexico.

Azure Minerals’ previous exploration at Alacrán resulted in the discovery of the Mesa de Plata silver deposit and the adjacent Loma Bonita gold-silver deposit where the current drilling has been focused.

These two deposits contain total mineral resources of:

Mesa de Plata: 10.5 million tonnes at 82 grams per tonne silver for 27.4 million ounces of silver, including an at-surface high-grade resource of 1.8 million tonnes at 275g/t silver for 15.5 million ounces of silver; and

Loma Bonita: 5.4 million tonnes at 0.9g/t gold and 28g/t silver for 150,000 ounces of gold and 4.8 million ounces of silver.

Azure is conducting a Reverse Circulation (RC) drilling program at the Loma Bonita gold-silver deposit for resource infill and extension, and to collect additional samples for advanced metallurgical testwork.

Drilling is also targeting several greenfields exploration targets.

Azure Minerals’ recent drilling encountered gold intersections at southern Loma Bonita, including:

58.5 metres at 0.7 grams per tonne gold from 15m, including 19.5m at 1g/t gold;

73.5m at 0.7g/t gold from 0m, including 12m at 1.3g/t gold;

31.5m at 1.7g/t gold from 0m (entire hole);

37.5m at 1.8g/t gold from 1.5m, including 19.5m at 2.4g/t gold;

28.5m at 1.3g/t gold from 0m; and

34.5m at 1.2g/t gold from 87m, including 6m at 3.3g/t gold.

“Drilling confirms that gold mineralisation extends for a further 100 metres to 150 metres south of the southern boundary of the current Loma Bonita mineral resource,” Azure Minerals said in its ASX announcement.

“Resource expansion drilling is stepping out from the southern resource boundary to increase the resource size.

“Resource infill drilling is being undertaken to improve definition of internal high-grade zones, confirm internal continuity and obtain samples for additional metallurgical testwork.”

Three drill holes (MDPC-150 to 152) were completed within the Mesa de Plata silver deposit with each hole intersecting wide intervals of high-grade silver mineralisation, including:

10.5m at 805g/t silver from 12m, including 6m at 1,284g/t silver;

24m at 474g/t silver from 36m, including 15m at 677g/t silver; and

40.5m at 344g/t silver from 0m, including 10.5m at 774g/t silver.

The company indicated samples from these holes will be used for advanced stage metallurgical testwork for the purpose of optimising the process flowsheet for a Mesa de Plata mining and processing operation.

Two further RC holes (MDPC-148 and 149) were drilled at the Cerro San Simon prospect to follow up previous drill intersections.

Both new holes intersected gold mineralisation at the expected depths, including:

31.5m at 0.4g/t gold from 12m; and

16.5m at 0.8g/t gold from 61.5m.