Year: 2017

Commenting on the drilling, Azure’s Managing Director, Mr Tony Rovira said, “These intercepts have confirmed the high-grade tenor of the mineralisation, and the significant widths of the overall mineralised zone are very positive for the mining studies currently underway. Visually we recognised large quantities of sphalerite and galena in the drill core and it’s very encouraging that the assay results have confirmed the presence of high metal grades.”

“This resource increase is another step along the path we initially outlined with our objective to identify a viable resource for short term cash flow. Tres Amigos is shaping up really well and the excellent metallurgical results support this. The Carola South and Las Espadas areas are underexplored and we plan to target them for the next resource update in 2018. In the meantime our focus is on completing the Scoping Study and reviewing our options for the recommencement of mining at Plomosas utilising the on site plant and excellent underground infrastructure.” Mr Dix said.

Mike England, president of Alix, stated: “We are very pleased with the results of the recent RC drill program and the ongoing metallurgical studies, directed by our partner Lithium Australia. With a focus on outlining higher grades in the West Flank zone and the encouraging beneficiation strategies, it is our objective to define an economic lithium resource, similar in grade and size to that of the Bacanora/REM La Ventana deposit.”

Neil Woodyer, CEO stated “This second set of holes continue to delineate the broad widths and high grades of the mineralization below the junction of the sill and the Bermejal intrusive. Overall the program has an impressive 90% success rate with 36 of the 40 holes drilled intercepting the key targets.”

Kiran Patankar, Geologix’s President and Chief Executive Officer, stated: “Restarting substantive field work at Tepal is a significant milestone for the Company. Few gold/copper development projects can boast an established economic resource with the kind of scalability and exploration upside we are seeing at Tepal. We have assembled a technical team led by Gillian Kearvell, whose extensive and successful track record of making world-class discoveries in Southern Mexico is bona fide, in order to take a fresh look at the project. The initial findings from this summer’s field program are highly encouraging and suggest that we have just scratched the surface of Tepal’s true potential.”

Ismael Mata Alvarado, Mayor of Santa Maria Del Oro, said: “We are very excited to be the home of one of the next great processing facilities in Mexico. We have seen excellent work and construction of a state of the art production plant. Working with the Magistral Project management team has been a pleasure. Our beautiful city of Santa Maria Del Oro has already benefited from the project, and as the project moves towards completion, it is already becoming clear that it will have a significant impact on our community.”