The target area and lithocap characteristics are provided in Figure 1. The target area is defined by several overlapping target methodologies, including geophysics, mineralogy, geochemistry and past drilling campaigns at the property which have returned significant high grade porphyry copper and gold assays from multiple zones which appear to mantle and surround this area in a roughly arcuate shape of high magnetic response. This area has been targeted for drilling on the basis of the following data set:
- 2021 mineral vectoring study (“MVS”) completed at the
CODES Analytical Laboratory of theUniversity of Tasmania utilizing chlorite and epidote samples collected from the El Cobre project in 2021; - Mineral vectoring has been established as an effective tool for exploration targeting at porphyry projects around the world through published studies at systems such as the El Teniente, Resolution,
Arizona and Batu Hijau, porphyry systems; - The MVS indicates that the El Cobre district likely contains a fertile medium to large sized porphyry system;
- The most prospective area in the MVS is located in the centre of the project (approximately 1 km southeast of the established resource at the Norte target) where there has been little previous exploration drilling;
- This area coincides with a deep IP geophysical anomaly which does not crop out, within an area of moderate magnetic response. The deep IP anomaly is the deep core to the broad near surface anomaly which encompasses all the currently known areas of porphyry mineralisation on the project;
- Prior to this program, the closest hole to this deep core IP anomaly, which did not test the anomaly, intersected intense quartz pyrite sericite (QSP) phyllic alteration which provides further support to this new target representing a possible porphyry centre;
- The MVS target also overlaps with a large area of mapped pyrophyllite (approximately 700 metre (E-W) x 550 metre (N-S)), an alteration mineral often observed overlying porphyry copper-gold mineralisation;
- Recent spectral mineral mapping and sampling in this area has further defined a strong alteration signature with clear zoning including a central diaspore-pyrophyllite-shallow alunite/dickite and concentric halos of paragonitic and muscovitic white mica and inner propylitic epidote halo (Figure 1);
- Observed illite crystallinity shows consistent high crystallinity over the entire target. Iron oxide rockchip mapping shows a hematite core zone and a goethite halo as well.
About the
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
At the
Past drilling campaigns have returned significant porphyry copper and gold assays from multiple targets around the recently defined mineral vector target area. The previously tested and known porphyry mineralisation, including the Norte deposit on which the Company has developed a resource, appear to mantle and surround this new target area in a roughly arcuate zone of high magnetic response. High grade intersections from these targets highlight the potential for significant mineral endowment and for higher grade porphyry mineralisation including the following (see Figure 1 for locations):
Hole | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) |
EC-17-018 | 222.40 | 334.50 | 112.10 | 1.35 | 0.48 |
EC-17-026 | 543.45 | 609.90 | 66.45 | 2.41 | 0.61 |
Including | 543.45 | 569.45 | 26.00 | 4.15 | 1.00 |
EC-17-029 | 204.15 | 314.15 | 110.00 | 1.87 | 0.48 |
Including | 208.15 | 240.15 | 32.00 | 2.57 | 0.57 |
and | 264.15 | 300.15 | 36.00 | 2.02 | 0.51 |
Raya Tembrillo (1.8km South of Norte)
Hole | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) |
EC-17-037 | 302.00 | 320.00 | 18.00 | 1.25 | 0.52 |
Hole | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) |
EC-19-086 | 868.40 | 918.00 | 49.60 | 0.99 | 0.61 |
Including | 878.40 | 914.40 | 36.00 | 1.10 | 0.68 |
Hole | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) |
EC-17-040 | 243.00 | 255.00 | 12.00 | 2.43 | 0.82 |
EC-18-056 | 381.50 | 408.00 | 26.50 | 1.72 | 0.34 |
More information on El Cobre is available on the Azucar website at http://www.azucarminerals.com.
Technical Details and the El Cobre NI 43-101 Technical Report
For details on the estimation of mineral resources, including the key assumptions, parameters and methods used to estimate the Mineral Resources at the El Cobre property, Canadian investors should refer to the report dated effective
About Azucar
Azucar is an exploration company exploring the El Cobre project in
On behalf of the Board of Directors,
“J. Duane Poliquin”
Chairman
Neither the
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within it, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements, other than as required pursuant to applicable securities laws.
Contact Information:
Tel. 604.689.7644
Email: info@azucarminerals.com
http://www.azucarminerals.com/
Figure 1 accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/02b5445c-601d-465b-b909-de4d2769e639
El Cobre Property
Alteration Target Map
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