Azure receives Promontorio results
THE DRILL SERGEANT: Mexico-focused Azure Minerals has received first results from a recent step-out diamond drilling program at its Promontorio project, located in the state of Chihuahua.
The Promontorio deposit contains a JORC Mineral Resource, Indicated and Inferred, to date of 502,000 tonnes at 4.7 per cent copper, 2.1 grams per tonne gold and 99 grams per tonne silver.
So far the company has received assay results from the first four drill holes from the program.
Notable intercepts from one hole include:
– 2.7 metres at 0.83% copper, 4.0g/t gold & 40g/t silver from 151.2m;
– 0.3m at 1.39% copper, 8.5g/t gold & 107g/t silver from 116.2m; and
– 1.4m at 1.87% copper, 2.2g/t gold & 44g/t silver from 142.5m;
Other results included:
– 1.3m at 0.12% copper, 1.32g/t gold & 20g/t silver from 122.6m; and
– 2.3m at 2.90% copper, 6.0g/t gold & 106g/t silver from 75.7m.
The recent drilling focused around a previously drilled hole, which intersected 1.1 metres at 3.8% copper, 22.1g/t gold & 168g/t silver from 138.30m.
Azure Minerals said the latest results confirm the prospectivity of this area for further resources.
The company said the gold grades it had received were higher than it had anticipated, and indicate a potential zonation of increasing gold tenor along strike to the north of the existing resource.
Azure Minerals executive chairman Tony Rovira said these results demonstrate the Promontorio mineralised system continues outside the current resource area.
“Promontorio is a north-south striking mineralised system which outcrops over a length of approximately one kilometre,” Rovira said in the company’s announcememnt to the Australian Securities Exchange.
“However prior to the current program the resource had only been drill defined over a strike length of 200 metres.
“Today’s results confirm the prospectivity that the Promontorio property holds for additional mineralisation with the existing system now extending northwards for a further 125 metres from the current northern resource boundary.
“This indicates that with further drilling, significant upside exists for Azure to increase the current resource.”
The Promontorio deposit remains open in all directions and the company said it believes recently completed drilling along strike to the north and south, in addition to drilling the depth extensions of the veins, has confirmed the potential for further resource expansion.
Azure Minerals has now concluded this phase of drilling at Promontorio with 12 holes completed for 2,746m.
Results of the remaining eight drill holes are expected in the next two to four weeks.
The drill rig has now been relocated to the company’s San Francisco manganese project, where a resource expansion drilling program of up to 5,000m has commenced.