Azure Minerals has upgraded the silver resource for the Mesa de Plata deposit at the Alacrán gold-silver-copper project in Mexico.
The Perth-based company has completed 3000 metres of infill drilling and 500 metres of diamond drilling since releasing a maiden resource estimate in May.
According to Azure, results from the recent program have allowed the company to upgrade its indicated resources, with 85 per cent of the silver ounces now classified as measured. The company increased the overall silver resource by 1.5 million ounces to 27.4 million ounces.
Azure managing director Tony Rovira said the program confirmed the quality of the Mesa de Plata silver deposit.
“Not only have we delivered a substantial 1.5 million ounce increase in the overall contained silver in the deposit, we have also increased the silver grade of the high grade zone by 25 per cent to 275 grams a tonne of silver,” Rovira said.
“The upgrading of the majority of the mineral resource to measured category has significantly increased the confidence level from the previously released maiden estimate.”
Azure also expects to release a maiden resource estimate for the adjacent Loma Bonita gold-silver deposit this month.