- Azure Minerals gained 15
per centin the ASX today after announcing 3.1 million tonnes of zinc, gold and lead at its Oposura project.
- 18 g/t gold, 5
per centzinc and2.7 per centlead grades Companyestimates $237m earnings on project
Azure Minerals gained 15
The company reported a total 20 per cent increase of mineral tonnage for 3.1 million tonnes of zinc, gold and lead. Mineral grades are also significant, containing averages of five per cent zinc, 18 g/t gold and 2.7 per cent lead.
Results came from extensive drilling of over 58 diamond drill holes for 4,567m of excavation.
Azure Managing Director Tony Rovira says the high-grade mineralisation is immediately accessible for open pit and underground mining, enhancing further project development.
“The latest drilling campaign has increased the East Zone resource tonnage and the amount of total contained zinc, lead,
The company has been operating on the site for five years. A scoping study late last year estimated for the company an earnings before taxation of $237 million for a payback period of 16 months.
The Oposura project is fully owned by the company and located in Sonora, Mexico.
Azure’s share prices peaked at a two-cent increase today reaching 12 cents a share. Shortly after, shares reduced to 11.50 cents each.