- Azucar (AMZ) completes the second hole at the new porphyry lithocap target, El Cobre Project
- Located in Mexico, large intervals of brecciated rock were intersected in the area as well
- Future drilling in this area will be guided by the results and interpretation of these analyses from both holes
- Chairmain, J.D. Poliquin added that the company intends to continue the exploration on the project, in the hopes to further unlock the potential of the multiple zones
- The company continues to review the geology and past exploration results in order to plan future exploration programs
- Azucar Minerals (AMZ) is up 20 per cent, trading at C$0.06 at close
Azucar Minerals (AMZ) completed drilling a second hole into the large lithocap target.
Similar to the first hole, the second hole in this area (EC-22-115) passed through typical clay-dominant lithocap alteration, these form when in a more acidic environment, into phyllic alteration.
Large intervals of brecciated rock were intersected in the area as well.
Alteration data has been collected from the core using a Terraspec infrared spectrometer along with samples for assay and fluid inclusion analysis.
Future drilling in this area will be guided by the results and interpretation of these analyses from both holes.
The drill rig has been demobilized from the pad where these two holes were drilled, as any future drilling to test this lithocap target will need to be conducted in other accessible portions of this very large area.
J.D. Poliquin, Chairman of Azucar Minerals stated, “These two holes were the first to be drilled into this newly defined alteration target. It is important to remind shareholders that this zone is one of many porphyry targets and centres on the project.”
“[…] We intend to continue our exploration on this project to further unlock the potential of the multiple zones and targets which are yet to be fully tested.”
The El Cobre project covers a 5 km trend of porphyry copper-gold associated alteration and mineralization where five separate zones explored.
The base case resource estimate for the Norte Zone is comprised of an indicated resource of 1.2 Moz AuEq and an inferred resource of 1.4 Moz AuEq.
Past drilling campaigns have returned significant porphyry copper and gold assays from multiple targets.
High-grade intersections from these targets highlight the potential for significant mineral endowment.
The known targets include the Villa Rica, Porvenir, Encinal and Primo Zones.
At the Villa Rica Zone, initial drilling started in 2017 which intersected two styles of mineralization; hypogene copper-gold porphyry mineralization.
While at the Encinal Zone, results of the initial drilling showed returned results including 34.47 metres grading 0.73 g/t Au and 0.20 per cent Cu.
The company continues to review the geology and past exploration results in order to plan future exploration programs.
Azucar is an exploration company working on the El Cobre project in Veracruz, Mexico, covering multiple gold-rich porphyry targets.
Azucar Minerals (AMZ) is up 20 per cent, trading at C$0.06 at close.
