Azure Minerals receives further good news from Promontorio project

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THE DRILL SERGEANT: Azure Minerals (ASX: AZS) has received results from the first four holes of an ongoing diamond drilling program currently underway at the company’s Promontorio project, located in the Mexican state of Chihuahua.

The 32 hole, 3,600 metre drilling program has been designed to test the mineralised system outside of the current Promontorio mineral resource boundaries.

To date, 28 holes have been completed.

Mineralised intercepts from the first four drill holes include:

–    4 metres at 4.6 per cent copper equivalent (CuEq) (1.3 per cent copper, 3.2 grams per tonne gold and 83 grams per tonne silver);
 
–    0.9m at 3.9 per cent CuEq (1.0 per cent copper, 3.4g/t gold and 48g/t Silver) and 4.7m at 5.7 per cent CuEq (0.5 per cent copper, 5.1g/t gold and 130g/t silver), including 0.8m at 17.3 per cent CuEq (2.1 per cent copper, 12.4g/t gold and 495g/t silver);

–    2m at 3.7 per cent CuEq (1.1 per cent copper, 3.5g/t gold and 18g/t silver); and

–    1.9m at 3.8 per cent CuEq (1 per cent copper, 3.7g/t gold and 21g/t silver).

“Our drilling has successfully intersected significant shallow mineralisation that was untested by previous exploration,” Azure Minerals managing director Tony Rovira said in the company’s announcement to the Australian Securities Exchange.

“As these intercepts are located above the current mineral resource, we expect that this will add further tonnage to the Promontorio Resource.

“The high grades of gold and silver mineralisation are also very encouraging, being significantly higher than the average grades of the current resource.

“Visually, additional mineralisation has also been observed within the core and we expect to announce further significant drill intercepts as assays are received.”

Azure intimated the gold and silver grades to be higher than it had anticipated and the latest results indicate potential zonation of the mineralisation with increasing precious metal tenor to the north of the existing resource.

The company explained these type of zonations are typical in high sulphidation epithermal copper-gold deposits, and are often located peripheral to large porphyry copper deposits.

This has given Azure confidence for further porphyry copper exploration at Promontorio.

Promontorio is a high sulphidation epithermal deposit which currently contains a JORC Mineral Resource (Indicated and Inferred) of:

–    502,000 tonnes at 4.7 per cent copper, 2.1g/t Gold and99 g/t Silver.

The deposit remains open along strike and at depth and Azure believes the current drilling program has the potential to achieve its short-term goal of doubling the existing resource.