Axo Metals Reports New San Antonio Drilling Results, Including 48.0 Metres at 1.18g/t Au
Axo Metals has reported new drilling results from its San Antonio project in Sonora, Mexico, including oxide and transition mineralization at the Luz del Cobre target.
Axo Metals Corp. (TSXV:AXO) has reported results from 33 drillholes covering approximately 3,700 metres at its San Antonio project in Sonora, Mexico. The programme focused on the recently identified Luz del Cobre target, the area between Luz del Cobre and the Sapuchi resource, and the outer areas of the Sapuchi deposit.
Hole SOSAP-26-069 returned 48.0 metres grading 1.18g/t Au from surface in oxide/transition material. The hole was drilled at Luz del Cobre, approximately 750 metres east of the Sapuchi pit-constrained resource.
Hole SOSAP-26-083 produced an interval of 15.0 metres grading 3.94g/t Au from 12.0 metres down the hole. Hole SOSAP-26-077 returned 25.8 metres grading 0.88g/t Au from surface.
The company said initial drilling across the Luz del Cobre-Sapuchi gap has identified at least 450 metres of mineralized strike length. Hole SOSAP-26-080, drilled in that gap, included separate intervals of 39.6 metres grading 0.32g/t Au and 11.0 metres grading 1.29g/t Au.
At the outer edge of the Sapuchi deposit, hole SOSAP-26-053 returned several mineralized sections, including 22.0 metres grading 1.62g/t Au, 11.0 metres grading 1.72g/t Au and 17.0 metres grading 0.94g/t Au.
Hole SOSAP-26-073 produced two intervals: 17.9 metres grading 0.81g/t Au from 29.2 metres down the hole, and 19.9 metres grading 0.90g/t Au from 55.1 metres down the hole.
#Drilling programme and potential development options
Axo Metals said three diamond drill rigs are operating at San Antonio. Two are working on resource expansion around Luz del Cobre and in the gap zone, while the third is drilling at Sapuchi to infill inferred resource blocks and test areas that could convert waste to ore within the resource pit shell.
Luz del Cobre is approximately 750 metres from the Sapuchi resource and ~1.8km from the existing plant infrastructure. The company said the area is linked to San Antonio infrastructure by haul roads and is evaluating it as an option for mining early in the San Antonio mine life. The company continues to describe Sapuchi as a starter pit option because of its oxide grades and topography.
The Luz del Cobre historical pit operated from 2011 to 2018 and was used for copper oxide mining. During that period, 2.8Mt of copper oxide ore was mined. Axo Metals said the current drilling is returning strong oxide gold mineralization without material copper grades, which it views as positive for metallurgical purposes.
Axo Metals has completed a ~1,900 metre reverse-circulation drilling programme through waste dumps associated with the historical Luz del Cobre operations. The dumps had been drilled to approximately 25 x 25 metre spacings, and the company expects to receive and disclose the results prior to year-end.
The company said that from late 2021 to mid-2023, Osisko Gold Group mined and processed 1.14Mt of waste dump material grading 0.58g/t Au. Recovery through heap leaching was 74%, with 13,591 gold ounces sold. Axo Metals said further exploration results could determine whether the waste dumps offer an additional resource and a potential route to processing the material, but no such outcome has been established.
Axo Metals said it has elected to terminate the option agreement for the La Gallina concession at its La Huerta copper project in Jalisco, Mexico. The company retains full ownership of the Juanes concession, which it said contains the overwhelming majority of metres drilled at La Huerta and all material drilling previously announced by the company.
Axo Metals said the reported results passed its quality assurance and quality control protocols. It also stated that the results are preliminary and have not yet been verified by an independent, certified commercial laboratory. The company cautioned that surface or chip samples are selective and may not represent the underlying mineralization.
The company said its forward-looking statements are subject to risks involving exploration, development, operations, commodity prices, global financial volatility, tariffs, environmental matters, insurance coverage and operating in a foreign jurisdiction. Axo Metals also said actual results and future events could differ materially from those anticipated.
Axo Metals Corp. announced the latest drilling results from its San Antonio project in Sonora, Mexico, including results from the recently discovered Luz del Cobre target. The release covers 33 drillholes and approximately 3,700 metres of drilling.
Axo Metals Corp. announced the results on October 20, 2026. The announcement covers drilling at Luz del Cobre, the Luz del Cobre-Sapuchi gap zone and areas around the Sapuchi deposit.
Axo Metals Corp. reported that hole SOSAP-26-069 returned 48.0 metres grading 1.18g/t Au of oxide material directly from surface, while hole SOSAP-26-083 returned 15.0 metres grading 3.94g/t Au from 12 metres down the hole. The company also reported 25.8 metres grading 0.88g/t Au from surface in hole SOSAP-26-077.
Axo Metals Corp. said initial drilling in the Luz del Cobre-Sapuchi gap confirmed at least 450 metres of mineralized strike length. Hole SOSAP-26-080, drilled in the gap zone, returned multiple intervals, including 39.6 metres of 0.32g/t Au and 11.0 metres of 1.29g/t Au.
Axo Metals Corp. said Luz del Cobre is approximately 750 metres east of the Sapuchi pit-constrained resource and ~1.8km from the existing plant infrastructure. The area is connected to the San Antonio infrastructure via haul roads, according to the company.
Axo Metals Corp. said it is evaluating Luz del Cobre as another option to be mined early in the San Antonio mine life. Management continues to view the Sapuchi deposit as an excellent starter pit option because of its elevated oxide grades and favourable topography.
Axo Metals Corp. said three diamond drill rigs are currently operating at San Antonio, with two focused on resource expansion drilling around Luz del Cobre and within the Luz del Cobre-Sapuchi gap zone. The third is at Sapuchi, infilling inferred resource blocks and testing areas to convert waste to ore within the resource pit shell.
Axo Metals Corp. said it had recently completed a ~1,900 metre reverse-circulation drill programme through the historical Luz del Cobre waste dumps, which had been drilled off to approximately 25 x 25 metre spacings. The company expects to receive and disclose the RC drilling results prior to year-end.
Axo Metals Corp. said that from late 2021 to mid-2023, Osisko Gold Group mined and processed 1.14Mt of waste dump material grading 0.58g/t Au, recovering 74% via heap leaching and selling 13,591 gold ounces. The company said the waste dumps could provide an option for additional resource growth and potentially expedite production, but those statements are subject to the results of further exploration work.
Axo Metals Corp. announced that it had elected to terminate the option agreement for the La Gallina concession at its La Huerta copper project in Jalisco, Mexico. The company said it continues to retain full ownership of the Juanes concession, which holds the overwhelming majority of metres drilled at La Huerta.
Axo Metals Corp. is a Canadian mineral exploration company engaged in the exploration and development of mineral properties in Mexico. It holds the San Antonio project in Sonora, which is in advanced development, and the La Huerta property in Jalisco, which the company describes as a new copper discovery.
Axo Metals Corp. is identified in the announcement as trading on the TSX Venture Exchange under the ticker TSXV:AXO.
Axo Metals Corp. said all results stated in the announcement had passed its quality assurance and quality control protocols, but it also stated that the results were preliminary and had not yet been verified by an independent, certified commercial laboratory. The company cautioned that surface or chip samples are selective and may not represent true underlying mineralization.
Axo Metals Corp. said its forward-looking statements involve risks and uncertainties related to exploration, development, operations, commodity prices, global financial volatility, tariffs, environmental risks, insurance coverage and operating in a foreign jurisdiction. The company also said actual results and future events could differ materially from those anticipated and that it had no obligation to update the information except as required by applicable securities laws.