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Azure Minerals Ltd.
Summary
| Project: | Alacran | |
|---|---|---|
| Deposit: | Loma Bonita | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 8/25/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-8-2016: Azure Minerals Ltd. announces an Exploration/Drilling Update report for its Loma Bonita deposit at the Alacran project. Drilling results incl. 111.0m @ 0.81g/t Au, 18g/t Ag from 0m. Azure Minerals Limited (ASX: AZS) (“Azure” or “the Company”) i | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Tony Rovira (Internal) | |
| ABSTRACT: | Azure Minerals Limited (ASX: AZS) (“Azure” or “the Company”) is pleased to advise that ongoing diamond and Reverse Circulation (RC) drilling at its flagship Alacrán Project has delivered more significant intercepts of gold mineralisation at the Loma Bonita prospect. Azure’s Managing Director, Tony Rovira said: “These latest drilling results are very positive and supportive of our belief that Loma Bonita could become a substantial gold deposit, particularly as the grades and thicknesses of the gold zone appear to increase significantly to the south. “Together with the ongoing development studies at Mesa de Plata, Loma Bonita is a very high priority for Azure and we’ll continue to keep the drills turning there. Meanwhile, our grass roots exploration program is continuing with a diamond rig now drilling further to the south of Loma Bonita at Cerro San Simon and Cerro Enmedio testing substantial geochemical and geophysical anomalies. Following the discovery of significant widths of high grade gold mineralisation at Loma Bonita, drilling is now being undertaken on a 50m x 50m grid spacing to identify the lateral and depth extent of the mineralised zone and assess the internal continuity of the mineralisation. The early holes in the current program were collared on the crest of the Loma Bonita hill in the southern part of the prospect and the drill pattern extends to the north (see Figure 1). As the core drilling was progressing slowly due to difficult ground conditions, the RC rig which was undertaking the infill drilling at Mesa de Plata was transferred to Loma Bonita to accelerate the exploration program. To date, six RC holes (MDPC-089 to 094 for 1,085m) and four core holes (MDPD-019 to 022 for 702m) have been completed. Drilling with the RC rig is continuing. | |
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