THE DRILL SERGEANT: Azure Minerals (ASX: AZS) has commenced a second diamond drilling campaign on the company’s 100 per cent-owned Sara Alicia gold and cobalt project in the northern Mexican state of Sonora.
Azure Minerals said the drilling is being carried out to follow up on the company’s 2017 maiden drilling program, in which all six drill holes intersected high-grades of gold and cobalt mineralisation at shallow depths.
The previous program included a best intersection of:
26.2 metres at 9.5 grams per tonne gold and 1.26 per cent cobalt from 0.60m depth, including 12.6m at 16.8g/t gold and 6.35m at 3.57 per cent cobalt.
Azure explained that the first phase of this current campaign will comprise 10 to 12 diamond core holes and is expected to take about six weeks to complete.
The drilling has been designed to target along-strike and down-dip extensions of the high-grade mineralisation intersected in the 2017 program.
Based upon anticipating further success, the company is already planning a second phase of drilling over the mineralised body.
“The Sara Alicia mineralised zone consists of carbonate rocks intruded by a porphyry,” Azure Minerals said in its ASX announcement.
“This intrusive event caused strong alteration and mineralising reactions in the limestones to form a skarn body which hosts massive and semi-massive sulphides containing the cobalt and gold mineralisation.
“The mineralised body has a strong and identifiable magnetic signature extending over an area of approximately 300 metres by 150 metres.
“Encouragingly, modelling of the magnetic data indicates that the magnetic body which represents the mineralisation has considerable vertical depth extent, particularly to the north and northeast, providing excellent down-dip targets to extend the gold and cobalt mineralisation in those directions.”