Azure Minerals upgrades Mesa de Plata silver Resource
THE DRILL SERGEANT: Azure Minerals (ASX: AZS) announced an upgrade of the Mineral Resource Estimate for the Mesa de Plata silver deposit at the company’s Alacrán gold, silver and copper project located in Sonora, Mexico.
Azure Minerals said the Resource upgrade came on the back of an additional 3,000 metres of Reverse Circulation (RC) infill drilling and 500m of PQ diamond drilling it has completed since announcing the maiden Resource estimate in May 2016.
The company explained the results from this drilling program allowed the upgrading of Indicated Resources to the Measured category in accordance with the JORC Code with the upgraded Resources showing more than 85 per cent of the total contained silver ounces now classified as Measured Mineral Resource.
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Source: Company announcement
“Not only have we delivered a substantial 1.5 million ounce increase in the overall contained silver in the deposit, we have also increased the silver grade of the High Grade Zone by 25 per cent to 275 grams per tonne silver.
“Particularly pleasing, and important to the projects economics, is the impressive silver grade of 307 grams per tonne silver in the Measured Resource portion of the High Grade Zone.
“The upgrading of the majority of the Mineral Resource to Measured category has significantly increased the confidence level from the previously released maiden estimate.
“This, together with the high-value High Grade Zone being significantly enhanced and when considering a possible combined production scenario with the adjacent Loma Bonita gold-silver deposit, is very exciting for the development options currently under consideration and provides investors with increased confidence regarding the quality of the project.”
Website: www.azureminerals.com.au