THE BOURSE WHISPERER: Azure Minerals (ASX: AZS) has recommenced Reverse Circulation (RC) drilling on the Loma Bonita deposit at the company’s 100 per cent-owned Alacrán project in Mexico.
Azure Minerals said the drilling had started up again following the scheduled Christmas-New Year break, which before taking the company had completed two holes.
The Loma Bonita deposit currently extends over 600 metres north-south and up to 200 metres east-west.
Mineralisation starts at surface and in places the true width/thickness of the mineralised zone exceeds 100m.
Drilling to expand gold and silver resources is underway, with early drilling located to the east of holes MDPC-096 and MDPC-131, which returned strong mineralised intersections of:
47.2 metres at 2.79 grams per tonne gold and 33g/t silver;
67.1m at 1.56g/t gold and 21g/t silver.
Before the break, Azure had reported encouraging surface sampling results from a strongly gold-mineralised breccia located in a road cutting approximately 400m southeast of the Loma Bonita resource boundary.
“Channel sampling of the exposed mineralised zone returned 35.5 metres grading 3.6 grams pert onne gold,” Azure Minerals said in its ASX announcement.
“This zone will be drill-tested in the current program.”
The company indicated it was now planning drilling to test the Cerro San Simon prospect where previous drilling returned several wide intersections of low to moderate grade gold mineralisation, including:
29.6m at 0.56g/t gold and 27g/t silver;
12.6m at 0.37g/t gold and 8g/t silver; and
63m at 0.47g/t gold and 27g/t silver.