Azure Minerals (ASX: AZS) should trade higher after revealing broad gold and high grade copper assay results from drilling at its flagship Promontorio copper-gold-silver project Mexico.
Impressive results from the Cascada prospect included gold mineralisation of 150 metres at 1.5 grams per tonne gold from 42 metres and 153 metres at 1.1 grams per tonne gold from 22 metres to end of hole.
Notably, the gold results are similar to those found at substantial operating gold mines in the district, for example the 3 million ounce Altos mine.
Assays from the first drill hole targeting the porphyry body also confirmed the presence of porphyry-hosted, strongly anomalous copper mineralisation throughout the lower 200 metres to the end of the hole, up to a maximum of 5.4% copper.
Similarly, the new intercepts of high grade copper continue to grow the central copper-gold-silver zone at Cascada. Drilling has yet to define the boundaries of the mineralisation to the north and west, giving further potential for expansion.
Further results from second porphyry hole and another hole are awaited, and if these results are anything to go by, they could be very interesting.
Azure has also commenced a detailed ground magnetic survey to assist targeting of future porphyry drill holes, and metallurgical testwork of a Cascada bulk sample is underway.
The company is capitalised at $25 million.
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