Azure Minerals puts drilling pedal to the metal

THE DRILL SERGEANT: Azure Minerals (ASX: AZS) has picked up the pace of ongoing diamond drilling at the company’s Alacrán project in Mexico following a recent $15 million fundraising.

The company said the fundraising will support a 10,000 metre exploration drilling program, which is to be accelerated with the addition of a second core rig mobilising to site.

There are a number of targets to be tested immediately, which include extensions of the gold mineralised zone at Loma Bonita and high-grade silver mineralisation at Mesa de Plata Norte.

Further drilling scheduled for 2016 will test for gold-silver mineralisation around Puerto del Oro and San Simon as well as precious and base metal mineralisation deeper beneath Loma Bonita.

Additional core drilling will be carried out at Mesa de Plata to collect bulk samples for advanced metallurgical testing and mineral processing studies.

“The strong support shown by investors in the recent fundraising and the current Share Purchase Plan will allow Azure to accelerate both our development and exploration programs,” Azure Minerals managing director Tony Rovira said in the company’s announcement to the Australian Securities Exchange.

“With the exploration drilling again underway, after a scheduled pause, I anticipate more good news to come from drilling of the near surface gold mineralised zone at Loma Bonita and also the high-grade silver mineralisation identified on surface at Mesa de Plata Norte.

“Additionally, we expect that deeper drilling at Loma Bonita has potential for the discovery of base metal mineralisation deeper within the feeder system as the typical epithermal / porphyry model predicts.

“We will also be drilling several large diameter core holes into the Mesa de Plata silver deposit to collect bulk samples for metallurgical testing and mineral processing studies to advance the development of this project.”

Email: admin@azureminerals.com.au

Website: www.azureminerals.com.au