Azure Minerals Ltd. (AZS:ASX), an Australian company developing two precious metal projects in Mexico, has caught the attention of a pair of analysts and the Mining Journal.
Ngaire McDiarmid started his July 1 Mining Journal article on the company by writing: “As if opening a jewellery box, virtually everywhere Azure Minerals looks, it discovers silver, gold and base metals at its flagship Alacrán project in Mexico.”
Describing Azure’s Mesa de Plata target at Alacrán, Warwick Grigor of Far East Capital noted in a July 12 research report that the deposit contains, “a 26 Moz silver resource at 84 gpt Ag, with a near surface high grade zone of 15 Moz at 220 gpt. The company is very confident that it will have a mine here with an engineer recently being appointed to carry out a feasibility study.”
Grigor also wrote that Azure’s second target at Alacrán, Loma Bonita, offers additional “exploration upside.” Preliminary metallurgical work at Loma Bonita, according to a July 14 release from the company, has shown “good gold recoveries,” and in an Aug. 25 statement, the company noted that drilling had “significantly [extended the] gold mineralised zone at Loma Bonita.”
“This looks like a company with plenty of merit,” Grigor wrote.
Simon Tonkin of Patersons Securities calls the two discoveries at Alacrán “exciting.” In a July 12 research note Tonkin wrote, “Azure Minerals has made one of the most exciting new silver discoveries in recent times at Mesa de Plata, part of its Alacrán project in northern Mexico. AZS has done an excellent job in drilling the deposit to resource status within six months of discovery.”
At Mesa de Plata, according to Tonkin, Azure “has defined a near-term silver development opportunity, given that the high grade portion of the deposit commences at surface and remains open to the north. …read more