Azure Minerals Says Maiden Resource for Oposura Shows Promise

Azure Minerals sees great potential at its Oposura zinc-lead-silver project in Mexico after releasing what it believes is a strong initial resource estimate.

An initial resource estimate for Azure Minerals’ (ASX:AZS) Mexico-based Oposura zinc-leadsilver project has returned “robust” results.

Based on 173 diamond drill holes completed across 11,108.6 meters, the asset holds a grand total of 2.9 million tonnes at 5 percent zinc and 2.8 percent lead. Meanwhile, contained metal comes in at 146,000 tonnes of zinc, 82,000 tonnes of lead and 1.6 million ounces of silver, with 75 percent of contained metal in the indicated resource category.

According to the company, Oposura has the potential to be expanded, with mineralization open in several directions. Further drilling is planned for later this year.

“This initial Oposura Mineral Resource is a very positive outcome for the Company’s development and production strategy,” Azure Managing Director Tony Rovira said in a statement.

“Open pit and underground mine planning and scheduling are now underway. The schedules will be used to optimise the proposed plant throughput rate and finalise the capital and operating cost estimates. Further information on the results of these studies will become available during the third quarter of 2018,” he added.

The Oposura project area contains 10 mineral concessions, all of which were previously owned by Grupo Minero Puma. However, in August 2017, Azure subsidiary Minera Piedra Azul paid Puma US$1.5 million for 100-percent ownership. Puma has retained a net smelter return royalty of 2.5 percent.

All nine of Azure’s ongoing projects are located in Mexico, with five in Sonora. Its flagship projects, aside from Oposura, are its Alacrán silver-goldcopper project, its Sara Alicia gold-cobalt project and its Promontorio copper-gold-silver project. The company’s other projects focus around gold, silver, copper, zinc, and graphite.

The company’s Alacrán project, while fully owned by Azure, was previously explored by Teck Resources (TSX:TECK.B,NYSE:TECK) when it acquired the property in 2013.

Azure acquired the rights to 100-percent ownership of the project in 2015, and in 2016 became its 100-percent owner after meeting its commitments. Teck then exercised its back-in right and took over operatorship of the project; it now maintains a 51-percent interest in the project.

At close of day Wednesday (July 4), Azure’s share price was at AU$0.22.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.

When Will Australia Legalise Recreational Cannabis?

Recreational cannabis remains illegal in all Australia’s states and territories with the exception of the Australian Capital Territory (ACT). But could that change in the future?

So far there are no clear indicators as to when or if Australia could legalise recreational cannabis, but attitudes seem to be changing. Public support is growing, and there’s even some political acceptance.

Read on to learn more about when Australia may legalise recreational cannabis.

Keep reading... Show less

Data Review Enhances Prospectivity at Galan’s Greenbushes South Lithium Project

Highlights:

  • CSIRO’s historical datasets show prospectivity for Galan’s Greenbushes South Lithium Project
  • Historical laterite geochemistry data collected prior to mining at Greenbushes
  • Elevated abundances of pathfinder elements display a well-defined anomaly adjacent to Greenbushes South
  • Dispersion of elements into the laterite profiles include arsenic, tantalum, tin and antimony among others
  • Galan to commence sampling and mapping at Greenbushes South next month

Galan Lithium Limited (ASX: GLN) (Galan or the Company) is pleased to announce that it has completed a review of historical CSIRO data which enhances the prospectivity of its Greenbushes South Lithium project.

Keep reading... Show less

Data Review Enhances Prospectivity at Galan’s Greenbushes South Lithium Project

Highlights:

  • CSIRO’s historical datasets show prospectivity for Galan’s Greenbushes South Lithium Project
  • Historical laterite geochemistry data collected prior to mining at Greenbushes
  • Elevated abundances of pathfinder elements display a well-defined anomaly adjacent to Greenbushes South
  • Dispersion of elements into the laterite profiles include arsenic, tantalum, tin and antimony among others
  • Galan to commence sampling and mapping at Greenbushes South next month

Galan Lithium Limited (ASX: GLN) (Galan or the Company) is pleased to announce that it has completed a review of historical CSIRO data which enhances the prospectivity of its Greenbushes South Lithium project.

Keep reading... Show less

AIS Resources’ Australian Yalgogrin Gold Project’s first drill hole returns gold intercepts averaging 1.5g/t over 87 meters including 0.9 meters at 9.3 g/t

A.I.S. Resources Limited ( TSX: AIS, OTCQB: AISSF ) (the “Company” or “AIS) reports that the assay analysis from YDD1 at Neighbour’s Farm historic mine workings, the first diamond drill hole at its Yalgogrin Gold Project, NSW, Australia has been completed by SGS Australia. Extensive gold mineralisation was intersected from 58m through to the end of hole at 162.3m with gold mineralisation remaining open at depth and returning gold Intercepts over 87m averaging 1.5gt. The best individual grades returned up to 9.3 gt Au that are supported by consistent mineralisation hosted within the altered rock mass.

A summary of the intervals and average assays is set out below from the top of the core:

Keep reading... Show less

Resolution Minerals Ltd Drilling Program at Sunrise Gold Prospect Completed

Adelaide, Australia (ABN Newswire) – Resolution Minerals Ltd (ASX:RML) (FRA:NC3) is pleased to announce that it has completed the Company’s first drilling program on the Sunrise Gold Prospect at the 64North Project in Alaska. Drilling was conducted along an existing access road, targeting outcropping granite hosted mineralisation, analogous in style to Kinross’s Fort Knox Gold Mine, which is one of Alaska’s most profitable mines. The Sunrise Prospect was identified in 2020 by a RML trenching program and is located less than 5km from Northern Star’s operating Pogo Gold Mine.

Summary

– A 1400m long “fence line” of 27 shallow RAB drill holes designed to test outcropping mineralisation at the Sunrise Prospect has been completed.

Keep reading... Show less

Top News

Related News