Azure tests resources at Promontorio
PERTH (miningweekly.com) – Metals developer Azure Minerals has reported a total mineral resource of 840 000 t, grading 4.1% copper equivalent at its Promontorio copper/gold/silver project, in northern Mexico.
The miner said that some 75% of the resource was classified as indicated.
“With about 75% of the Promontorio resource upgraded to the indicated mineral resource category, we can now move to the feasibility study stage, including completing a definitive underground mine design, production schedule and a Joint Ore Reserves Committee-compliant probable ore reserve,” said Azure MD Tony Rovira.
The feasibility study would likely be undertaken in the second half of 2013.
He noted that Azure had previously been unable to produce an ore reserve, as a significant component of the first resource was classified in the inferred category.
“This is a significant step towards the fulfillment of our vision to become a copper miner in Mexico, and I look forward to the extra value we can create for Azure at Promontorio.”
Rovira added that the company was set to start drilling at the newly discovered copper zone at Cascada, adding that if Azure was successful in defining a large mineralised zone, it would be a major benefit to the overall Promontorio project.
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