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Azure Minerals Ltd.
Summary
| Project: | Alacran | |
|---|---|---|
| Deposit: | Loma Bonita | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 9/28/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-9-2016: Azure Minerals Ltd. announces an Exploration/Drilling Update report for its Loma Bonita deposit at the Alacran project. Drilling results incl. 67m @ 1.56g/t Au, 21g/t Ag from 0m. Azure Minerals Limited (ASX: AZS) (“Azure” or “the Company”) is p | |
| 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 drilling at the Loma Bonita prospect continues to deliver significant intercepts of gold mineralisation. Azure’s Managing Director, Tony Rovira said: “Drilling continues to expand the footprint of the Loma Bonita mineralised zone with significant widths of gold mineralisation intersected in recent holes. “The high grade zone hosted within the widest part of Loma Bonita has potential for depth extensions and feeder zones. We will shortly be mobilising the diamond rig to test these targets and also to drill the open-ended high grade mineralisation to the east of hole MDPD-096. “The thick zone of oxide gold mineralisation, sometimes in excess of 100m, contains gold grades similar to or greater than many of the open pit heap leach gold mines currently operating in northern Mexico. Based upon the excellent gold recoveries achieved from our earlier metallurgical test work (ASX: 14 July 2016), this augurs well for the definition of a substantial oxide gold deposit at Loma Bonita, which will be a very positive addition to the Mesa de Plata silver deposit.” To date 14 reverse circulation (RC) holes and 12 diamond core holes have been drilled into and around the Loma Bonita gold-silver discovery (see Figure 1). Significant gold and silver mineralisation has been intersected over the 400m north-south length of the Loma Bonita ridge and up to 150m east-west at the southern end of the zone. Mineralisation is constrained to the west by erosion into the arroyo (valley) and remains open to the east and south where the topography increases in elevation. The greatest thicknesses of gold mineralisation occur in the southern and eastern parts of the drill-tested area. Gold grades and thicknesses tend to increase towards the south whereas silver grades increase towards the north. | |
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