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Azure Minerals Ltd.
Summary
| Project: | Alacran | |
|---|---|---|
| Deposit: | Mesa de Plata | |
| Location: | Mexico | |
| Commodities: | Silver | |
| Date: | 12/1/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 1-12-2016: Azure Minerals Ltd. announces a Resource Estimation report for its Mesa de Plata deposit at the Alacran project. Resource upgraded to 'measured' confidence level. Azure Minerals Limited (ASX: AZS) (“Azure” or “the Company”) is pleased to announ | |
| Resources: | (Resource, Total): 10.46Mt @ 81.6g/t Ag for 27.4Moz Ag contained at Mesa de Plata | |
| CP/QP: | [Resources]: Mark P Murphy (Amec Foster Wheeler Plc) | |
| ABSTRACT: | Azure Minerals Limited (ASX: AZS) (“Azure” or “the Company”) is pleased to announce a substantial upgrade of the Mineral Resource Estimate for the Mesa de Plata silver deposit at its flagship Alacrán gold, silver and copper project located in Sonora, Mexico. The resource upgrade follows the completion of an additional 3,000m of Reverse Circulation (RC) infill drilling and 500m of PQ diamond drilling since the maiden resource estimate was announced in May 2016. Results from this drilling program has allowed the upgrading of Indicated Resources to the Measured category in accordance with the JORC Code. The upgraded resources show more than 85% of the total contained silver ounces is now classified as Measured Mineral Resource (refer Table 1 below). Azure’s Managing Director, Mr Tony Rovira, commented: “This resource drill-out has been a tremendous success confirming the high quality of the Mesa de Plata silver deposit. Not only have we delivered a substantial 1.5Moz increase in the overall contained silver in the deposit, we have also increased the silver grade of the High Grade Zone by 25% to 275g/t Ag. Particularly pleasing, and important to the projects economics, is the impressive silver grade of 307g/t Ag in the Measured Resource portion of the High Grade Zone. “The upgrading of the majority of the Mineral Resource to Measured category has significantly increased the confidence level from the previously released maiden estimate. This, together with the high value High Grade Zone being significantly enhanced and when considering a possible combined production scenario with the adjacent Loma Bonita gold-silver deposit, is very exciting for the development options currently under consideration and provides investors with increased confidence regarding the quality of the project.” | |
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