PERTH (miningweekly.com) – The share price of ASX-listed Azure Minerals closed 46% higher on Wednesday after the company announced a significant high-grade silver discovery at its Alacran project, in Mexico.
Four holes drilled at the Mesa de Plata prospect as part of a 14-hole reverse circulation programme over the wider Alacran property have intersected thick zones of high-grade silver mineralisation, starting from surface and extending to a depth of up to 70 m.
“This is the first drilling programme to be carried out at Mesa de Plata and, to find large thicknesses of strong and consistent silver mineralisation starting from surface, including internal zones of very high-grade silver, is an excellent achievement,” said Azure MD Tony Rovira.
“This is a significant discovery and is a credit to the perseverance and technical skills of our team in Mexico.”
Rovira noted that while more drilling was required, the thickness of the mineralised layer, the high-grade of the mineralisation and its location forming the top of a hill, indicated that the Mesa de Plata had significant potential to be a large, economically significant silver deposit.
Azure shares were trading at a high of 2.1c a share on Wednesday, up from an opening price of 1.6c a share.