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Panchita

Panchita (AZS 100%)
Gold - Silver

In 2013, Azure acquired 100% ownership of the
Panchita Gold Project, located in the northwestern state of
Sonora, Mexico.

This is a well-mineralised, gold-rich district, home to many major gold mines and deposits, including the Fresnillo-owned mines Herradura (400,000oz gold produced in 2015) and Noche-Buena (158,000oz gold produced in 2015).

Azure’s first reconnaissance exploration program comprised surface sampling targeting outcrops, old mine workings and mine dumps, collecting a total of 66 samples. Thirty-three samples returned greater than 0.5g/t gold, with 25 samples returning greater than 1g/t gold. Significant silver values were also returned from many of the samples. Better results included:

  • PAN-1063: 44.9g/t Gold & 33g/t Silver
  • PAN-1004: 37.8g/t Gold & 71g/t Silver
  • PAN-1014: 28.7g/t Gold & 124g/t Silver
  • PAN-1070: 23.8g/t Gold & 3 g/t Silver
  • PAN-1071: 23.8g/t Gold & 5 g/t Silver
  • PAN-1001: 20.7g/t Gold & 13g/t Silver

Azure is seeking a joint venture or sale of the Panchita Project.

Panchita and other gold mines / deposits in northwest Sonora

Panchita and other gold mines / deposits in northwest Sonora

Geological plan showing, sample locations with sample numbers, project boundary (in red), mine workings (in green) and historical drill holes

Geological plan showing, sample locations with sample numbers, project boundary (in red), mine workings (in green) and historical drill holes