Writer of the article:
Article content material
VANCOUVER, British Columbia, Might 27, 2022 (GLOBE NEWSWIRE) — Azucar Minerals Ltd. (“Azucar” or the “Firm”) (TSX-V: AMZ; OTCQB: AXDDF) is happy to announce that it has accomplished drilling the primary gap into the massive lithocap goal mentioned in its press launch of April 6, 2022. The primary gap initially handed by typical clay dominant lithocap alteration into phyllic alteration, then continued to propylitic alteration and at depth intense biotitic potassic alteration. Some excessive temperature zones of pyrophyllite and diaspore alteration have been intersected confirming the in-situ interpretation for the lithocap, derived from deep porphyry fluids. The opening was drilled to 1280 metres, close to vertically at -80 levels, and solely examined a small space of the massive lithocap footprint at floor and is interpreted to have intersected a peripheral a part of a porphyry system beneath the lithocap, offering a vertical alteration profile. At the moment the potassic alteration intersected at depth is taken into account to be much like the broad zones of barren or low grade potassic alteration discovered peripheral to among the recognized mineralized zones on the El Cobre mission. Zones of excessive pyrite have been intersected and minor veining with sulphides and chalcopyrite have been famous. The opening didn’t transect the deep IP anomaly situated additional to the north. This primary gap helps information the subsequent gap of this system which is able to drill at a shallower angle to the north from the identical pad and is meant to intersect the excessive chargeability anomaly at depth in addition to a zone of round concentric fracturing interpreted to characterize an intrusive centre. The drill workforce will begin the second gap after a brief crew break.
Commercial 2
Article content material
As detailed in our press launch of April 6, 2022, the goal space is outlined by a number of overlapping goal methodologies, together with geophysics, mineralogy, geochemistry and previous drilling campaigns on the property which have returned important excessive grade porphyry copper and gold assays from a number of zones which seem to mantle and encompass this space in a roughly arcuate form of excessive magnetic response. This space has been focused for drilling on the premise of the next knowledge set:
- 2021 mineral vectoring examine (“MVS”) accomplished on the CODES Analytical Laboratory of the College of Tasmania using chlorite and epidote samples collected from the El Cobre mission in 2021;
- Mineral vectoring has been established as an efficient software for exploration focusing on at porphyry initiatives around the globe by printed research at methods such because the El Teniente, Decision, Arizona and Batu Hijau, porphyry methods;
- The MVS signifies that the El Cobre district probably comprises a fertile medium to massive sized porphyry system;
- Probably the most potential space within the MVS is situated within the centre of the mission (roughly 1 km southeast of the established useful resource on the Norte goal) the place there was little earlier exploration drilling;
- This space coincides with a deep IP geophysical anomaly which doesn’t crop out, inside an space of average magnetic response. The deep IP anomaly is the deep core to the broad close to floor anomaly which encompasses all of the at present recognized areas of porphyry mineralisation on the mission;
- The closest gap to this deep core IP anomaly, which didn’t take a look at the anomaly, intersected intense quartz pyrite sericite (QSP) phyllic alteration which gives additional assist to this new goal representing a doable porphyry centre;
- The MVS goal additionally overlaps with a big space of mapped pyrophyllite (roughly 700 metre (E-W) x 550 metre (N-S)), an alteration mineral usually noticed overlying porphyry copper-gold mineralisation;
- Current spectral mineral mapping and sampling on this space has additional outlined a robust alteration signature with clear zoning together with a central diaspore-pyrophyllite-shallow alunite/dickite and concentric halos of paragonitic and muscovitic white mica and interior propylitic epidote halo;
- Noticed illite crystallinity reveals constant excessive crystallinity over the whole goal. Iron oxide rockchip mapping reveals a hematite core zone and a goethite halo as effectively.
Commercial 3
Article content material
Concerning the El Cobre Challenge
An in depth abstract of the mission is offered on the Firm’s web site however briefly the El Cobre mission covers a 5 km pattern of porphyry copper-gold related alteration and mineralisation alongside which 5 separate zones have now been recognized and explored in previous drilling campaigns. On September 29, 2020, the Firm launched an preliminary mineral useful resource estimate on the mission from solely the Norte Zone. The bottom case useful resource estimate (utilizing a web smelter return cutoff of US$12/tonne) for the Norte Zone is comprised of an indicated useful resource of 1.2 Moz AuEq (47.2 million tonnes grading 0.49 g/t Au, 0.21% Cu 1.4 g/t Ag) and an inferred useful 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). Additional particulars of the useful resource estimate are offered beneath.
Commercial 4
Article content material
On the Villa Rica Zone, situated about 1.8 km south of the Norte Zone, the Firm plans to additional discover the Raya Tembrillo Goal. Preliminary drilling in 2017 on the Raya Tembrillo Goal intersected two types of mineralisation; hypogene copper-gold porphyry mineralisation (115.00 metres of 0.57 g/t gold and 0.27% copper, see press launch of November 28, 2017) and close to floor enriched copper mineralisation with an obvious tabular distribution (94.00 metres of 1.36% copper; see press launch of December 13, 2017). On the Encinal Zone, situated 4.3 kilometres to the southeast of the Norte Zone, the Firm is conducting a extra thorough overview of the geological, geochemical and geophysical datasets with a view to design a future drill program to follow-up previous drill outcomes. On June 29, 2017 Azucar introduced the outcomes of preliminary drilling on this uncovered stockwork (Gap EC-17-025) that returned outcomes together with 34.47 metres grading 0.73 g/t Au and 0.20% Cu.
Commercial 5
Article content material
Previous drilling campaigns have returned important porphyry copper and gold assays from a number of targets across the lately outlined mineral vector goal space. The beforehand examined and recognized porphyry mineralisation, together with the Norte deposit on which the Firm has developed a useful resource, seem to mantle and encompass this new goal space in a roughly arcuate zone of excessive magnetic response. Excessive grade intersections from these targets spotlight the potential for important mineral endowment and for increased grade porphyry mineralisation together with the next:
Norte Zone
| Gap | 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 |
| Together with | 543.45 | 569.45 | 26.00 | 4.15 | 1.00 |
| EC-17-029 | 204.15 | 314.15 | 110.00 | 1.87 | 0.48 |
| Together with | 208.15 | 240.15 | 32.00 | 2.57 | 0.57 |
| and | 264.15 | 300.15 | 36.00 | 2.02 | 0.51 |
Commercial 6
Article content material
Raya Tembrillo (1.8km South of Norte)
| Gap | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) |
| EC-17-037 | 302.00 | 320.00 | 18.00 | 1.25 | 0.52 |
Primo Zone (1.4km South of Raya Tembrillo)
| Gap | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) |
| EC-19-086 | 868.40 | 918.00 | 49.60 | 0.99 | 0.61 |
| Together with | 878.40 | 914.40 | 36.00 | 1.10 | 0.68 |
Porvenir Zone (2.5 km SE of Norte, 1.0 km west of Primo
| Gap | 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 |
Extra data on El Cobre is obtainable on the Azucar web site at http://www.azucarminerals.com.
Technical Particulars and the El Cobre NI 43-101 Technical Report
For particulars on the estimation of mineral assets, together with the important thing assumptions, parameters and strategies used to estimate the Mineral Sources on the El Cobre property, Canadian traders ought to confer with the report dated efficient November 13, 2020, and titled “NI 43-101 Technical Report Mineral Useful resource Estimate on the El Cobre Copper-Gold-Silver Property, Veracruz State, Mexico” which is obtainable below Azucar Minerals’ profile on SEDAR (www.sedar.com) and on the Firm’s web site. The Technical Report was authored by Kris Raffle, P.Geo. of APEX Geoscience Ltd., and Sue Chicken, M.Sc., P.Eng. of Moose Mountain Technical Companies. The NSR and AuEq values have been calculated utilizing US$1,500/oz gold, US$3.00/lb copper and US$18/oz silver, and utilizing metallurgical recoveries of 88% for gold and copper, and 70% for silver.
Commercial 7
Article content material
Morgan Poliquin, Ph.D., P.Eng. a Certified Particular person below NI 43-101 the President and CEO in addition to a Director of the Firm reviewed and permitted the opposite technical data. The porphyry mineralisation and previous drilling outcomes mentioned and reviewed on this information launch are related to broad areas of alteration and stockwork and sheeted porphyry type veining. True widths can’t be decided at the moment. The analyses reported have been carried out at ALS International Laboratories of North Vancouver utilizing business commonplace analytical methods. For gold, samples are first analysed by hearth assay and atomic absorption spectroscopy (“AAS”). Samples that return values larger than 10 g/t gold utilizing this method are then re-analysed by hearth assay however with a gravimetric end. For copper, samples are first analysed by Inductively Coupled Plasma – Atomic Emission Spectroscopy (“ICP-AES”), with 4 acid digestion. Samples that return values larger than 10000 g/t copper utilizing this method are then re-analysed by HF-HNO3-HCLO4 digestion with HCL leach and ICP-AES end. Blanks, subject duplicates and licensed requirements have been inserted into the pattern stream as a part of Azucar’s high quality assurance and management program which complies with Nationwide Instrument 43-101 necessities.
Commercial 8
Article content material
Azucar additionally declares that, pursuant to its Inventory Possibility Plan, it has granted inventory choices to a director, marketing consultant and worker of the Firm to buy 425,000 widespread shares within the capital of the Firm at an train value of $0.09 per share which expire on March 10, 2027.
About Azucar
Azucar is an exploration firm exploring the El Cobre mission in Veracruz, Mexico, which covers a number of gold-rich porphyry targets, as demonstrated by previous drilling. Azucar holds a 100% curiosity within the El Cobre mission, topic to web smelter returns (“NSR”) royalty pursuits, assuming manufacturing from the property exceeds 10,001 tonnes per day of ore, totaling 2.25% which may be diminished to 2.0% although the fee of US$3.0 million.
Commercial 9
Article content material
On behalf of the Board of Administrators,
“J. Duane Poliquin”
J. Duane Poliquin, P.Eng.
Chairman
Azucar Minerals Ltd.
Neither the TSX Enterprise Trade nor its Regulation Companies Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Trade) accepts accountability for the adequacy or accuracy of this launch.
This information launch consists of forward-looking statements which might be topic to dangers and uncertainties. All statements inside it, apart from statements of historic reality, are to be thought-about ahead trying. Ahead trying statements on this press launch relate to the planning, focusing on, and timing of the subsequent drill gap. Though the Firm believes the expectations expressed in such forward-looking statements are based mostly on affordable assumptions, such statements aren’t ensures of future efficiency and precise outcomes or developments could differ materially from these in forward-looking statements. Components that would trigger precise outcomes to vary materially from these in forward-looking statements embody market costs, exploitation and exploration successes, continued availability of capital and financing, and basic financial, market or enterprise situations. There may be no assurances that such statements will show correct and, due to this fact, readers are suggested to depend on their very own analysis of such uncertainties. We don’t assume any obligation to replace any forward-looking statements, apart from as required pursuant to relevant securities legal guidelines.
Contact Info:
Azucar Minerals Ltd.
Tel. 604.689.7644
E-mail: information@azucarminerals.com
http://www.azucarminerals.com/
Commercial
Writer of the article:
Article content material
VANCOUVER, British Columbia, Might 27, 2022 (GLOBE NEWSWIRE) — Azucar Minerals Ltd. (“Azucar” or the “Firm”) (TSX-V: AMZ; OTCQB: AXDDF) is happy to announce that it has accomplished drilling the primary gap into the massive lithocap goal mentioned in its press launch of April 6, 2022. The primary gap initially handed by typical clay dominant lithocap alteration into phyllic alteration, then continued to propylitic alteration and at depth intense biotitic potassic alteration. Some excessive temperature zones of pyrophyllite and diaspore alteration have been intersected confirming the in-situ interpretation for the lithocap, derived from deep porphyry fluids. The opening was drilled to 1280 metres, close to vertically at -80 levels, and solely examined a small space of the massive lithocap footprint at floor and is interpreted to have intersected a peripheral a part of a porphyry system beneath the lithocap, offering a vertical alteration profile. At the moment the potassic alteration intersected at depth is taken into account to be much like the broad zones of barren or low grade potassic alteration discovered peripheral to among the recognized mineralized zones on the El Cobre mission. Zones of excessive pyrite have been intersected and minor veining with sulphides and chalcopyrite have been famous. The opening didn’t transect the deep IP anomaly situated additional to the north. This primary gap helps information the subsequent gap of this system which is able to drill at a shallower angle to the north from the identical pad and is meant to intersect the excessive chargeability anomaly at depth in addition to a zone of round concentric fracturing interpreted to characterize an intrusive centre. The drill workforce will begin the second gap after a brief crew break.
Commercial 2
Article content material
As detailed in our press launch of April 6, 2022, the goal space is outlined by a number of overlapping goal methodologies, together with geophysics, mineralogy, geochemistry and previous drilling campaigns on the property which have returned important excessive grade porphyry copper and gold assays from a number of zones which seem to mantle and encompass this space in a roughly arcuate form of excessive magnetic response. This space has been focused for drilling on the premise of the next knowledge set:
- 2021 mineral vectoring examine (“MVS”) accomplished on the CODES Analytical Laboratory of the College of Tasmania using chlorite and epidote samples collected from the El Cobre mission in 2021;
- Mineral vectoring has been established as an efficient software for exploration focusing on at porphyry initiatives around the globe by printed research at methods such because the El Teniente, Decision, Arizona and Batu Hijau, porphyry methods;
- The MVS signifies that the El Cobre district probably comprises a fertile medium to massive sized porphyry system;
- Probably the most potential space within the MVS is situated within the centre of the mission (roughly 1 km southeast of the established useful resource on the Norte goal) the place there was little earlier exploration drilling;
- This space coincides with a deep IP geophysical anomaly which doesn’t crop out, inside an space of average magnetic response. The deep IP anomaly is the deep core to the broad close to floor anomaly which encompasses all of the at present recognized areas of porphyry mineralisation on the mission;
- The closest gap to this deep core IP anomaly, which didn’t take a look at the anomaly, intersected intense quartz pyrite sericite (QSP) phyllic alteration which gives additional assist to this new goal representing a doable porphyry centre;
- The MVS goal additionally overlaps with a big space of mapped pyrophyllite (roughly 700 metre (E-W) x 550 metre (N-S)), an alteration mineral usually noticed overlying porphyry copper-gold mineralisation;
- Current spectral mineral mapping and sampling on this space has additional outlined a robust alteration signature with clear zoning together with a central diaspore-pyrophyllite-shallow alunite/dickite and concentric halos of paragonitic and muscovitic white mica and interior propylitic epidote halo;
- Noticed illite crystallinity reveals constant excessive crystallinity over the whole goal. Iron oxide rockchip mapping reveals a hematite core zone and a goethite halo as effectively.
Commercial 3
Article content material
Concerning the El Cobre Challenge
An in depth abstract of the mission is offered on the Firm’s web site however briefly the El Cobre mission covers a 5 km pattern of porphyry copper-gold related alteration and mineralisation alongside which 5 separate zones have now been recognized and explored in previous drilling campaigns. On September 29, 2020, the Firm launched an preliminary mineral useful resource estimate on the mission from solely the Norte Zone. The bottom case useful resource estimate (utilizing a web smelter return cutoff of US$12/tonne) for the Norte Zone is comprised of an indicated useful resource of 1.2 Moz AuEq (47.2 million tonnes grading 0.49 g/t Au, 0.21% Cu 1.4 g/t Ag) and an inferred useful 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). Additional particulars of the useful resource estimate are offered beneath.
Commercial 4
Article content material
On the Villa Rica Zone, situated about 1.8 km south of the Norte Zone, the Firm plans to additional discover the Raya Tembrillo Goal. Preliminary drilling in 2017 on the Raya Tembrillo Goal intersected two types of mineralisation; hypogene copper-gold porphyry mineralisation (115.00 metres of 0.57 g/t gold and 0.27% copper, see press launch of November 28, 2017) and close to floor enriched copper mineralisation with an obvious tabular distribution (94.00 metres of 1.36% copper; see press launch of December 13, 2017). On the Encinal Zone, situated 4.3 kilometres to the southeast of the Norte Zone, the Firm is conducting a extra thorough overview of the geological, geochemical and geophysical datasets with a view to design a future drill program to follow-up previous drill outcomes. On June 29, 2017 Azucar introduced the outcomes of preliminary drilling on this uncovered stockwork (Gap EC-17-025) that returned outcomes together with 34.47 metres grading 0.73 g/t Au and 0.20% Cu.
Commercial 5
Article content material
Previous drilling campaigns have returned important porphyry copper and gold assays from a number of targets across the lately outlined mineral vector goal space. The beforehand examined and recognized porphyry mineralisation, together with the Norte deposit on which the Firm has developed a useful resource, seem to mantle and encompass this new goal space in a roughly arcuate zone of excessive magnetic response. Excessive grade intersections from these targets spotlight the potential for important mineral endowment and for increased grade porphyry mineralisation together with the next:
Norte Zone
| Gap | 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 |
| Together with | 543.45 | 569.45 | 26.00 | 4.15 | 1.00 |
| EC-17-029 | 204.15 | 314.15 | 110.00 | 1.87 | 0.48 |
| Together with | 208.15 | 240.15 | 32.00 | 2.57 | 0.57 |
| and | 264.15 | 300.15 | 36.00 | 2.02 | 0.51 |
Commercial 6
Article content material
Raya Tembrillo (1.8km South of Norte)
| Gap | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) |
| EC-17-037 | 302.00 | 320.00 | 18.00 | 1.25 | 0.52 |
Primo Zone (1.4km South of Raya Tembrillo)
| Gap | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) |
| EC-19-086 | 868.40 | 918.00 | 49.60 | 0.99 | 0.61 |
| Together with | 878.40 | 914.40 | 36.00 | 1.10 | 0.68 |
Porvenir Zone (2.5 km SE of Norte, 1.0 km west of Primo
| Gap | 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 |
Extra data on El Cobre is obtainable on the Azucar web site at http://www.azucarminerals.com.
Technical Particulars and the El Cobre NI 43-101 Technical Report
For particulars on the estimation of mineral assets, together with the important thing assumptions, parameters and strategies used to estimate the Mineral Sources on the El Cobre property, Canadian traders ought to confer with the report dated efficient November 13, 2020, and titled “NI 43-101 Technical Report Mineral Useful resource Estimate on the El Cobre Copper-Gold-Silver Property, Veracruz State, Mexico” which is obtainable below Azucar Minerals’ profile on SEDAR (www.sedar.com) and on the Firm’s web site. The Technical Report was authored by Kris Raffle, P.Geo. of APEX Geoscience Ltd., and Sue Chicken, M.Sc., P.Eng. of Moose Mountain Technical Companies. The NSR and AuEq values have been calculated utilizing US$1,500/oz gold, US$3.00/lb copper and US$18/oz silver, and utilizing metallurgical recoveries of 88% for gold and copper, and 70% for silver.
Commercial 7
Article content material
Morgan Poliquin, Ph.D., P.Eng. a Certified Particular person below NI 43-101 the President and CEO in addition to a Director of the Firm reviewed and permitted the opposite technical data. The porphyry mineralisation and previous drilling outcomes mentioned and reviewed on this information launch are related to broad areas of alteration and stockwork and sheeted porphyry type veining. True widths can’t be decided at the moment. The analyses reported have been carried out at ALS International Laboratories of North Vancouver utilizing business commonplace analytical methods. For gold, samples are first analysed by hearth assay and atomic absorption spectroscopy (“AAS”). Samples that return values larger than 10 g/t gold utilizing this method are then re-analysed by hearth assay however with a gravimetric end. For copper, samples are first analysed by Inductively Coupled Plasma – Atomic Emission Spectroscopy (“ICP-AES”), with 4 acid digestion. Samples that return values larger than 10000 g/t copper utilizing this method are then re-analysed by HF-HNO3-HCLO4 digestion with HCL leach and ICP-AES end. Blanks, subject duplicates and licensed requirements have been inserted into the pattern stream as a part of Azucar’s high quality assurance and management program which complies with Nationwide Instrument 43-101 necessities.
Commercial 8
Article content material
Azucar additionally declares that, pursuant to its Inventory Possibility Plan, it has granted inventory choices to a director, marketing consultant and worker of the Firm to buy 425,000 widespread shares within the capital of the Firm at an train value of $0.09 per share which expire on March 10, 2027.
About Azucar
Azucar is an exploration firm exploring the El Cobre mission in Veracruz, Mexico, which covers a number of gold-rich porphyry targets, as demonstrated by previous drilling. Azucar holds a 100% curiosity within the El Cobre mission, topic to web smelter returns (“NSR”) royalty pursuits, assuming manufacturing from the property exceeds 10,001 tonnes per day of ore, totaling 2.25% which may be diminished to 2.0% although the fee of US$3.0 million.
Commercial 9
Article content material
On behalf of the Board of Administrators,
“J. Duane Poliquin”
J. Duane Poliquin, P.Eng.
Chairman
Azucar Minerals Ltd.
Neither the TSX Enterprise Trade nor its Regulation Companies Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Trade) accepts accountability for the adequacy or accuracy of this launch.
This information launch consists of forward-looking statements which might be topic to dangers and uncertainties. All statements inside it, apart from statements of historic reality, are to be thought-about ahead trying. Ahead trying statements on this press launch relate to the planning, focusing on, and timing of the subsequent drill gap. Though the Firm believes the expectations expressed in such forward-looking statements are based mostly on affordable assumptions, such statements aren’t ensures of future efficiency and precise outcomes or developments could differ materially from these in forward-looking statements. Components that would trigger precise outcomes to vary materially from these in forward-looking statements embody market costs, exploitation and exploration successes, continued availability of capital and financing, and basic financial, market or enterprise situations. There may be no assurances that such statements will show correct and, due to this fact, readers are suggested to depend on their very own analysis of such uncertainties. We don’t assume any obligation to replace any forward-looking statements, apart from as required pursuant to relevant securities legal guidelines.
Contact Info:
Azucar Minerals Ltd.
Tel. 604.689.7644
E-mail: information@azucarminerals.com
http://www.azucarminerals.com/
Commercial
