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Azucar Minerals Files Technical Report for Initial Mineral Resource Estimate for the Norte Zone at the El Cobre Project, Mexico
VANCOUVER, British Columbia, Nov. 16, 2020 (GLOBE NEWSWIRE) -- Azucar Minerals Ltd. ("Azucar" or the "Company") (TSX-V: AMZ; OTCQX: AXDDF) is pleased to provide
About this update from Mustang Minerals Limited
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 16, 2020 (GLOBE NEWSWIRE) -- Azucar Minerals Ltd. (\"Azucar\" or the \"Company\") (TSX-V: AMZ; OTCQX: AXDDF) is pleased to provide notice that a National Instrument 43-101 technical report (“NI 43-101” or “Technical Report”) has been filed with Canadian securities regulators to support the initial mineral resource estimate (“MRE”) with respect to the Norte Zone of the El Cobre porphyry copper-gold project (“El Cobre Project”, or the “Project”) in Veracruz State, Mexico. The Norte Zone is one of five copper-gold porphyry zones identified to date within the El Cobre Project and has been the focus of the majority of exploration work conducted at the El Cobre Project since 2016. Highlights: Indicated Mineral Resource of 1.2Moz AuEq (million ounce gold equivalent) using the base case NSR (net smelter return) cutoff of US$12/tonne, comprised of 47.2 million tonnes grading at 0.77 g/t AuEq (0.49 g/t Au, 0.21% Cu and 1.4 g/t Ag); Inferred Mineral Resource of 1.4 Moz AuEq using the base case NSR cutoff of US$12/tonne, comprised of 64.2 million tonnes grading at 0.66 g/t AuEq (0.42 g/t Au, 0.18% Cu and 1.3 g/t Ag); Amenable to an open pit mining method; Potential for resource expansion at depth within the Norte Zone as well as at other significant porphyry bodies identified across 5km strike length at the Project. The Technical Report, dated effective November 13, 2020, is titled “NI 43-101 Technical Report Mineral Resource Estimate on the El Cobre Copper-Gold-Silver Property Veracruz State, Mexico” and is available under the Company's profile on SEDAR (www.sedar.com). The Technical Report was authored by Kris Raffle, P.Geo. of APEX Geoscience Ltd., and Sue Bird, M.Sc., P.Eng. of Moose Mountain Technical Services both of whom act as independent consultants to the Company, are Qualified Persons (QPs) as defined by National Instrument 43-101 (\"NI 43-101\") and have reviewed and approved the contents of this news release. The El Cobre Project has a total area of approximately 11,860 hectares and is located adjacent to the Gulf of Mexico, about 75 kilometres northwest of the major port city of Veracruz, Mexico in an area of excellent infrastructure. The Mineral Resource Estimate (MRE) and NSR cut-off sensitivities are presented in Table 1 with the base case cutoff at $US12.00 NSR highlighted. The favorable ...