- Azucar Minerals (AMZ) starts drilling on second hole at New Porphyry Lithocap Target in Mexico
- The first hole was drilled in late May and the second hole has been designed to intersect the high chargeability anomaly at depth
- This area has been targeted/selected for drilling based on data that was complied through the company
- Most recent spectral mineral mapping and sampling in this area has further defined a strong alteration signature with clear zoning
- At the Villa Rica Zone, located about 1.8 km south of the Norte Zone, Azucar Minerals plans to further explore the Raya Tembrillo Target
- Azucar Minerals Ltd. (AMZ) is up at 6.25 per cent, trading at C$0.09 at 10:20 am EST
Azucar Minerals Ltd. (AMZ) has started drilling a second hole into the sizeable area known as the Lithocap target.
The first hole passed through typical clay dominant lithocap alteration into phyllic alteration in late May.
The second hole is directed at a shallow angle to the north. It has been designed to intersect the high chargeability anomaly at depth. A zone of circular concentric fracturing is interpreted to represent an intrusive centre, all within the lithocap alteration footprint.
The target area has several overlapping target methodologies, including geophysics, mineralogy, geochemistry and past drilling campaigns at the property, which have returned significant high-grade porphyry copper and gold assays from multiple zones which appear to mantle and surround this area in a roughly arcuate shape of the high magnetic response.
This area has been targeted/selected for drilling based on data that was complied through the company.
Mineral vectoring had been established as an effective tool for exploration targeting porphyry projects around the world through published studies and the lithocap target was no exception.
This area seems to have coincided with a deep IP geophysical anomaly which does not crop out. The IP anomaly encompasses the project’s currently known areas of porphyry mineralization.
Most recent spectral mineral mapping and sampling in this area has further defined a strong alteration signature with clear zoning.
At the Villa Rica Zone, located about 1.8 km south of the Norte Zone, Azucar Minerals plans to explore the Raya Tembrillo Target further.
Initial drilling in 2017 on the Raya Tembrillo Target intersected two styles of mineralization; hypogene copper-gold porphyry mineralization and near-surface enriched copper mineralization with an apparent tabular distribution.
At the Encinal Zone, located 4.3 kilometres to the southeast of the Norte Zone, the company is conducting a more thorough review of the geological, geochemical and geophysical datasets to design a future drill program to follow up on past drill results.
Past drilling campaigns have returned significant porphyry copper and gold assays which has all come from the mineral vector target area.
The previously tested and known porphyry mineralization looks like it is surrounding this new target area in a roughly arcuate zone of high magnetic response.
High-grade intersections are highlighting the potential for significant mineral endowment and for higher-grade porphyry mineralization.
Azucar is an exploration company exploring the El Cobre project in Veracruz, Mexico.
Azucar has a 100 per cent interest in the El Cobre project, assuming production from the property exceeds 10,001 tonnes per day of ore, totalling 2.25 per cent which can be reduced to 2.0 per cent through the payment of US$3.0 million.
Azucar Minerals Ltd. (AMZ) is up at 6.25 per cent, trading at C$0.09 at 10:20 am EST.
