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Azure Minerals Ltd.
Summary
| Project: | Alacran | |
|---|---|---|
| Deposit: | Mesa de Plata | |
| Location: | Mexico | |
| Commodities: | Silver | |
| Date: | 10/27/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-10-2016: Azure Minerals Ltd. announces an Exploration/Drilling Update report for its Mesa de Plata deposit at the Alacran project. Drilling results incl. 29m @ 841g/t Ag from 16.80m. Azure Minerals Limited (ASX: AZS) (“Azure” or “the Company”) is pleas | |
| 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 announce that the final round of reverse circulation (RC) drilling on the Mesa de Plata silver deposit has been completed with results confirming excellent continuity of high grade silver mineralisation. Azure’s Managing Director, Tony Rovira said, “I’m very pleased to announce the completion of the infill drilling program at Mesa de Plata and the commencement of an updated Mineral Resource estimate. Importantly, the results confirm the presence of thick zones of high grade silver mineralisation, demonstrating strong continuity of width, grade and contained metal abundance, and substantiating interpretations from the earlier drilling. “The new data will not only allow us to refine and improve our understanding of the silver deposit but will also increase our knowledge of the High Grade Zone and permit a resource upgrade of this zone, or a significant portion of it, to Measured status. The High Grade Zone presents a very attractive near-term development option and we’re currently investigating this possibility by undertaking feasibility study activities.” A total of 2,930 m was drilled in 55 holes (MDPC-060 to 088 & MDPC-103 to 128). The drill plan was designed to: 1. infill the hole spacing from a 50m x 50m pattern to approximately 25m x 50m (see Figure 1) in order to increase confidence in the internal continuity of grade and width; and 2. test the edges of the High Grade Zone to improve definition of the boundaries between high grade mineralisation and other grade domains. Assays from this infill drilling program have confirmed the widths and grades identified in the earlier drilling programs, and corroborated the initial interpretation of the presence and continuity of the high grade silver mineralisation at Mesa de Plata. This new information will enable the Mineral Resource estimate for the High Grade Zone to be upgraded from Indicated to Measured status. Resource modelling is currently underway and Azure expects to release an updated Mineral Resource estimate prior to year’s end. A listing of all significant mineralised intercepts (>3m drill intercept length grading >90g/t Ag) and drill hole location data are detailed in Tables 1 and 2 (see Appendix 1), respectively. | |
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