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Axo Metals Reports 18.0 Metres Grading 8.15 g/t Au at San Antonio

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FAQSIR News Desk
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Axo Metals Corp. (TSXV:AXO) has reported assay results from 29 drill holes covering approximately 5,000 metres at its San Antonio project in Sonora, Mexico. The programme includes drilling within and around the Sapuchi deposit, as well as step-out work outside the existing resource boundary at the Luz del Cobre target.

#Key drilling results at San Antonio

The highest-grade highlighted interval came from hole SOSAP-26-039 at Sapuchi, which returned 18.0 metres grading 8.15 g/t Au from 18 metres down the hole. The company described the interval as entirely oxide mineralisation.

At Luz del Cobre, hole SOSAP-26-048 returned 46.5 metres grading 1.43gpt Au from surface. The hole was drilled approximately 750 metres east of the Sapuchi resource boundary, outside the current resource area.

Other highlighted results from Sapuchi included 47.1 metres grading 1.16g/t Au from 13 metres down the hole in SOSAP-26-027; 75.0 metres grading 0.87g/t Au from surface in SOSAP-26-025; and 49.7 metres grading 1.20g/t Au from 79 metres down the hole in SOSAP-26-028. The intervals include varying combinations of oxide, transition and sulphide material.

#Luz del Cobre and the gap zone

Axo is continuing exploration around the historical Luz del Cobre pit and in the gap zone between Luz del Cobre and Sapuchi. The historical pit operated from 2011 to 2018 and was focused on copper oxide mining, with 2.8Mt of copper oxide ore mined during that period.

The company is testing whether the Luz del Cobre area also contains gold mineralisation separate from the earlier copper mineralisation. Axo said the Luz del Cobre and gap-zone drilling is outside current resources.

Assays for hole SOSAP-26-080 were still outstanding when the results were announced. Axo said the hole had intersected hydrothermal breccia, a rock type associated with gold mineralisation at Luz del Cobre. Trenching in the western highwall produced a highlighted result of 20.7m grading 1.08gpt Au.

#Sampling and verification

Trench and field-sampling material was processed at San Antonio’s on-site laboratory. Axo cautioned that these results are indicative and preliminary and had not been verified by an independent, certified commercial laboratory.

Drill samples are being sent to ALS Chemex facilities in Querétaro and Zacatecas, Mexico, for third-party analysis. Axo said the drilling results included in the announcement had passed its quality assurance and quality control protocols.

#San Antonio resource context

Axo reports total San Antonio resources of 576koz Au and 1.37moz Ag grading 1.20 g/t Au and 2.9g/t Ag in the Indicated category. The Inferred category contains 544koz Au and 1.76moz Ag grading 1.02 g/t Au and 3.3g/t Ag across oxide, transition and sulphide deposit types.

The company is evaluating Sapuchi as a potential starter-pit area because of its oxide resources and topography. It said drilling there is intended to examine areas previously classified as waste within the block model and to improve resource confidence.

#Risks and cautionary statements

Axo said its exploration plans, possible mineralisation, future exploration results, the ability of drilling to predict mineralisation and the generation of additional drill targets are subject to risks and uncertainties. The company also identified environmental, insurance, operational, commodity-price, global financial volatility and foreign-jurisdiction risks.

Axo cautioned that surface or chip samples are selective and may not represent the underlying mineralisation. The company’s forward-looking statements are based on management assumptions and may differ materially from actual results.

#Key Takeaways

  • Axo Metals reported results from 29 holes covering approximately 5,000 metres at San Antonio.
  • Hole SOSAP-26-039 returned 18.0 metres grading 8.15 g/t Au from 18 metres down the hole at Sapuchi.
  • Hole SOSAP-26-048 returned 46.5 metres grading 1.43gpt Au from surface at Luz del Cobre, approximately 750 metres outside the Sapuchi resource boundary.
  • Drilling is continuing at Luz del Cobre, Sapuchi and the gap zone between the two areas.
  • Trenching results remain preliminary and have not been independently verified by a certified commercial laboratory.

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Frequently Asked Questions

Axo Metals Corp. (TSXV:AXO) has announced results from 29 holes, representing approximately 5,000 metres of drilling at its San Antonio project in Sonora, Mexico. The release includes drilling within and around the Sapuchi deposit and step-out drilling outside the existing resource boundary.
Hole SOSAP-26-039 assayed 8.15g/t Au over 18.0 metres from 18 metres down the hole at Sapuchi, with the interval described as entirely oxide mineralization. Hole SOSAP-26-048 returned 46.5 metres grading 1.43gpt Au from surface at the Luz del Cobre target, approximately 750 metres outside the Sapuchi resource boundary.
The release also reports 47.1 metres grading 1.16g/t Au from 13 metres down the hole in SOSAP-26-027, 75.0 metres grading 0.87g/t Au from surface in SOSAP-26-025, and 49.7 metres grading 1.20g/t Au from 79 metres down the hole in SOSAP-26-028. The reported intervals include oxide, transition and sulphide mineralisation, depending on the hole.
Axo says drilling is continuing in and around the Luz del Cobre historical pit and in the gap zone between Luz del Cobre and Sapuchi. Hole SOSAP-26-080 had intercepted hydrothermal breccia, while assays remained outstanding at the date of the release. Trenching results were described as preliminary and included 20.7m grading 1.08gpt Au.
The Company states that trenching and field-sampling results were processed at its on-site laboratory and are indicative but preliminary. They had not yet been verified by an independent, certified commercial laboratory. The Company says all drilling will continue to be assayed by a third-party laboratory, and that the reported drilling results had passed its QA/QC protocols.
Axo reports total resources at San Antonio of 576koz Au and 1.37moz Ag grading 1.20 g/t Au and 2.9g/t Ag in the Indicated category, and 544koz Au and 1.76moz Ag grading 1.02 g/t Au and 3.3g/t Ag in the Inferred category across oxide, transition and sulphide deposit types. The Luz del Cobre area and the gap zone between Luz del Cobre and Sapuchi are described as outside current resources.
The release states that exploration and drilling plans, the potential of gold and copper mineralisation, further exploration results, the ability of exploration work to predict mineralisation and the generation of additional drill targets involve risks and uncertainties. It also identifies environmental risks, limitations on insurance coverage, exploration, development and operational risks, commodity prices, global financial volatility, tariffs and risks of operating in a foreign jurisdiction. Axo cautions that surface or chip samples are selective and may not represent true underlying mineralisation.