- Azure Minerals has encountered high-grade gold and silver intercepts as exploration begins at its Alacrán project, Mexico
- A resource estimate forecasts Alacrán to hold 32 million ounces of silver and 150,000 ounces of gold
- A drilling program is set to commence in quarter four this year
- Azure’s share price is up 6.25 per cent today, currently sitting at $0.17 apiece
Azure Minerals has found high-grade silver and gold at its Mexico-based Alacrán project, as exploration begins.
Resource estimates forecast the project to hold 32 million ounces of silver and 150,000 ounces of gold.
A drilling program is set to begin in quarter four this year, targeting the identified gold and silver intersections.
The targets have so far been identified at the Mesa de Plata and Loma Bonita deposits.
Azure’s Managing Director Tony Rovira said the Mesa de Plata zone is one of the highest-grade silver deposits internationally.
This confirms “the strong potential for large and high-grade, epithermal-style precious metal deposits at Alacrán,” Tony added.
The company has full ownership of the Alacrán project after purchasing it from the Canadian company Minera Teck in 2014.
Azure’s share price is up 6.25 per cent today, currently sitting at $0.17 apiece, as of AEST 12:41 pm.