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Azure Minerals Ltd.
Summary
| Project: | Alacran | |
|---|---|---|
| Deposit: | Loma Bonita | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 12/21/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 21-12-2016: Azure Minerals Ltd. announces a Resource Estimation report for its Loma Bonita deposit at the Alacran project. Initial mineral resource estimate for Loma Bonita deposit at Alacran project. Azure Minerals Limited (ASX: AZS) (“Azure” or “the Com | |
| Resources: | (Resource, I+I): 5.4Mt @ 0.9g/t Au, 28g/t Ag at Loma Bonita | |
| CP/QP: | [Resources]: Mark P. Murphy (Amec Foster Wheeler Plc) | |
| ABSTRACT: | Azure Minerals Limited (ASX: AZS) (“Azure” or “the Company”) is pleased to announce the first Mineral Resource Estimate for the Loma Bonita gold deposit at the Alacrán gold, silver and copper project located in Sonora, Mexico (see Figure 1). This Mineral Resource estimate, which is based on 3,933m (27 holes) of Reverse Circulation (RC) drilling and 3,122m (17 holes) of HQ diamond core (DC) drilling, has been estimated and classified as Indicated and Inferred Mineral Resources in accordance with the JORC Code. The estimate has approximately 85% of the total contained gold ounces within the Indicated Mineral Resource category (refer Table 1 below). Azure’s Managing Director, Mr Tony Rovira, commented: “This mineral resource, estimated in accordance with the JORC Code, of 150,000 ounces of contained gold plus nearly 5 million ounces of contained silver can now be considered, along with the 27 million ounce silver Mineral Resource at nearby Mesa de Plata, in combined production studies. “Similar to the nearby Mesa de Plata silver deposit, the Mineral Resource at Loma Bonita starts at surface and could be mined by conventional open pit methods. Metallurgical testwork has demonstrated that the Loma Bonita gold mineralisation responds favourably to conventional cyanidation testwork simulating both heap leach and milling process route options. “Importantly, we believe this initial Mineral Resource shows the potential upside of Loma Bonita, as the mineralisation remains open and undrilled in several directions.” | |
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