Azure Minerals has gained today after identifying strong and coincident gold and cobalt anomalies at its wholly-owned Sara Alicia project in Mexico.
Results from a recent close-spaced soil sampling program identified areas of strong gold, cobalt and zinc anomalism across the Sara Alicia property.
The ASX-listed company – which will be presenting on Tuesday 20th February at the RIU Explorers Conference in Fremantle – gained 3.2%, or 1c, on the news to 32c.
A ground magnetic survey defined the highly magnetic zone which represents the skarn body hosting the high-grade gold and cobalt mineralisation.
Soil samples also defined a discrete zone strongly anomalous in gold and cobalt, with highest values of 1.26g/t gold and 1,469ppm cobalt (0.15% Co), both very high values for soil samples.
The anomalies for both elements are coincident, are approximately 200m long and 100m wide, and align along the eastern flank of a well-defined northwest-southeast trending structural zone.
Geological mapping indicates that the western flank of the structural break is down-faulted, suggesting the potential for buried repetitions of the mineralised body at depth.
A follow-up drilling program at Sara Alicia is now being planned.