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Azure Minerals Ltd.
Summary
| Project: | Alacran | |
|---|---|---|
| Deposit: | Gregors | |
| Location: | Mexico | |
| Commodities: | Gold | |
| Date: | 3/23/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-3-2020: Azure Minerals Ltd. announces an Exploration/Drilling Update report for its Gregors deposit at the Alacran project. Drilling results incl. 30m @ 0.68% Cu from 22.5m. The Gregors prospect was originally recognised by Azure’s geologists in early | |
| Resources: | ||
| CP/QP: | [Overall Report]: Tony Rovira (Internal) | |
| ABSTRACT: | The Gregors prospect was originally recognised by Azure’s geologists in early 2016 when mapping identified breccia and gossan outcropping over an area of approximately 100m x 100m. The strongly iron-rich breccia and boxwork texture within the gossan suggested a sulphide-rich source, potentially representing base metal mineralisation. However, geochemical sampling of the outcrop returned only low grades of precious and base metals, downgrading the priority of the prospect at that time. In late 2016, Azure flew an airborne VTEM geophysical survey over the entire Alacrán project area, and a small and discrete, reasonably intense electromagnetic (EM) response was detected coincident with the gossan outcrop. Modelling indicated the presence of a steep east-dipping EM conductor plate located beneath the gossan outcrop. No further exploration was undertaken over this anomaly until late in 2019, when Azure regained full ownership and control of the Alacrán project from former partner Teck Resources. Detailed mapping, surface geochemical sampling and a ground EM survey were carried out over the gossan and the area of the VTEM anomaly in early 2020. This identified faults and shearing and strong alteration within and around the gossan, and sampling returned weakly anomalous copper grades. | |
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