Business
Azucar Minerals Reports Drilling Results from Lithocap Target, El Cobre Project, Mexico
VANCOUVER, British Columbia, Nov. 24, 2022 (GLOBE NEWSWIRE) -- Azucar Minerals Ltd. ("Azucar" or the "Company") (TSX-V: AMZ; OTCQB: AXDDF) is pleased to announc
About this update from Mustang Minerals Limited
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 24, 2022 (GLOBE NEWSWIRE) -- Azucar Minerals Ltd. (\"Azucar\" or the \"Company\") (TSX-V: AMZ; OTCQB: AXDDF) is pleased to announce that it has received and compiled results from the two holes completed into the large lithocap target first discussed in its press release of March 10, 2022. Both holes passed through typical clay dominant lithocap alteration into phyllic alteration. Large intervals of brecciated rock were intersected possibly reflecting a diatreme like body that may have disrupted any earlier porphyry alteration zonation in this area. Alteration data was collected from the core using a Terraspec infrared spectrometer along with the samples for assay. No significant intervals of porphyry mineralisation were intersected however the second hole intersected a late sulphide vein that returned 0.70 metres of 0.95% copper and 0.42 g/t gold. At present the Company is reviewing how best to further explore this lithocap target as well as other zones on the project and will update shareholders once this is complete. J.D. Poliquin, Chairman of Azucar Minerals stated, “These two holes were the first to be drilled into this newly defined alteration target. It is important to remind shareholders that this zone is one of many porphyry targets and centres on the project. We have defined a preliminary resource on the most explored Norte Zone, and we intend to continue our exploration on this project to further unlock the potential of the multiple zones and targets which are yet to be fully tested.” About the El Cobre Project A detailed summary of the project is provided on the Company’s website but in brief the El Cobre project covers a 5 km trend of porphyry copper-gold associated alteration and mineralisation along which five separate zones have now been identified and explored in past drilling campaigns (see Figure 1). On September 29, 2020, the Company released an initial mineral resource estimate on the project from only the Norte Zone. The base case resource estimate (using a net smelter return cutoff of US$12/tonne) for the Norte Zone is comprised of an indicated resource of 1.2 Moz AuEq (47.2 million tonnes grading 0.49 g/t Au, 0.21% Cu and 1.4 g/t Ag) and an inferred resource of 1.4 Moz AuEq (64.2 million tonnes grading 0.42 g/t Au, 0.18% Cu and 1.3 g/t Ag). Further details...