Azure Minerals (ASX: AZS) will trade higher today after identifying the potential for a large underlying porphyry copper zone at its Cascada copper-gold-silver project in Chihuahua, Mexico.
Importantly, Azure has not only delineated a large body of high grade copper, gold and silver mineralisation, but it has also identified a substantial zone of gold mineralisation. Both are open at depth and along strike.
Where the story gets even more interesting is that the gold may be of economic significance in its own right.
Results from the companys drilling program has confirmed the project hosts two large, overlapping copper and gold mineralised systems that remain open at depth and along strike.
The high sulphidation epithermal alteration system indicates likelihood that mineralisation is sourced from an underlying porphyry copper system.
The copper system has a high grade copper-gold-silver zone with true widths of up to 30 metres and grades averaging more than 5% copper equivalent with peak grades of up more than 40% copper equivalent. This has a surrounding copper-mineralised envelope that has bulk tonnage potential.
Drilling also confirmed an extensive gold-rich envelope surrounds the Cascada copper deposit. This increases in grade and width towards the west with bulk tonnage deposit potential.
Azure plans to carry out a detailed deep-seeking Induced Polarisation in early September to target Cascada extensions and porphyry system.
Importantly, Azure has not only delineated a large body of high grade copper, gold and silver mineralisation, but it has also identified a substantial zone of gold mineralisation. Both are open at depth and along strike.
Where the story gets even more interesting is that the gold may be of economic significance in its own right.
Results from the companys drilling program has confirmed the project hosts two large, overlapping copper and gold mineralised systems that remain open at depth and along strike.
The high sulphidation epithermal alteration system indicates likelihood that mineralisation is sourced from an underlying porphyry copper system.
The copper system has a high grade copper-gold-silver zone with true widths of up to 30 metres and grades averaging more than 5% copper equivalent with peak grades of up more than 40% copper equivalent. This has a surrounding copper-mineralised envelope that has bulk tonnage potential.
Drilling also confirmed an extensive gold-rich envelope surrounds the Cascada copper deposit. This increases in grade and width towards the west with bulk tonnage deposit potential.
Azure plans to carry out a detailed deep-seeking Induced Polarisation in early September to target Cascada extensions and porphyry system.
