PERTH (miningweekly.com) – ASX-listed junior Azure Minerals has secured its next flagship project in the form of the Oposura zinc/lead/silver project, in Mexico.
The company on Tuesday announced that it had taken full ownership of the advanced-stage project, which contained high-grade, massive sulphide-hosted zinc, lead and silver mineralisation.
Azure will pay the project vendors $1.5-million for the project, and a net smelter royalty of 2.5% on future production.
“Throughout 2017, Azure has had the clear focus to acquire the next flagship project for the company. This was all about getting the right project for the right deal, and with this acquisition we have done just that,” said MD Tony Rovira.
“Projects of this quality are rare and keenly sought after, and I’m pleased that we have succeeded in acquiring the advance-stage precious and base metals project that we’ve been seeking.”
Rovira added that the company had been working on the property and liaising closely with the vendors for the past several months to ensure the quality of the project.
“We have gained a lot of knowledge of the project during the due diligence investigation and we’ll build upon this initial momentum by immediately commencing a resource drill-out programme, while also undertaking activities such as metallurgical testwork, various mine development studies, and more widespread exploration.”