Azure Minerals (ASX: AZS) has commenced a 6,000 metre diamond drilling program on its Promontorio Project in Mexico, looking to enlarge the copper gold Resource.
The deposit remains open in all directions and the company plans drilling along strike to the north and south, as well as drilling of the depth extensions of the high grade veins.
The Promontorio Project, located in the state of Chihuahua, contains a JORC Mineral Resource (Indicated + Inferred) of 502,000 tonnes at 4.7% Copper, 2.1 g/t Gold and 99 g/t Silver.
In addition to the high grade Promontorio deposit there are numerous other gold-silver prospects, all indicative of an extensive mineralisation system.
The drilling program is aiming to better define zones of higher grade mineralisation. Previous drilling by Azure produced a large number of very high grade copper, gold and silver intercepts including 2.30 metres at 23.1% Copper, 3.1g/t Gold & 253g/t Silver from 91.65 metres.
Drilling will test for strike extensions of the resource and of particular interest will be the follow up of a wildcat hole completed in Azure’s last drilling campaign at Promontorio.
Drill hole APR-DD-041, drilled 120m north along strike from the Mineral Resource, intersected 1.1 metres at 3.8% copper, 22.1g/t gold and 168g/t silver in a massive sulphide vein typical of the Promontorio deposit.
These results indicate strong potential to significantly expand the existing resource in this area.
In addition, drilling will test other exploration targets including an investigation of the epithermal gold mineralisation hosted at the nearby Cascada prospect, where previous drill intercepts included 7.6 metres at 19.8g/t gold from 56.4 metres.
Promontorio comprises the adjoining Hidalgo, Promontorio & Magistral mineral concessions, collectively known as Promontorio Central, and the surrounding 105 square kilometre mineral concession, Promontorio Regional.
Promontorio Central covers 187 hectares and is subject to an option to purchase agreement whereby Azure will pay US$4.0 million over four years to acquire the concessions, with no royalties payable to either vendors or government. Azure has 100% ownership of the surrounding Promontorio Regional concession.
On April 7 Azure's Mexican copper projects received a huge boost with a A$13 million investment from the Japan Oil, Gas and Metals National Corporation (JOGMEC), providing a huge vote of confidence in Azure.