Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Canadian miner Azucar Minerals announced today the start of a new drilling phase at its El Cobre project, in Veracruz, Mexico. This new phase will focus on three areas that had already been explored in past drilling campaigns: Pedregal, Villa Rica, and Encinal.


El Cobre is a copper-gold porphyry mining development located about 75km north of the city of Veracruz, near the Gulf of Mexico. It covers around 11,860 hectares of land across five mining zones which have been discovered to date over a 4km streak. In a report published in November 2020, the company indicated that with a net smelter return (NSR) base case of $12/mt, it expects to obtain 47.2mn mt of ore, of which 100,243mt would be contained copper. The rest would be silver and gold equivalent.


The El Cobre development has been in operation since 2002 by Azucar Minerals and covers five drilling areas: Zona Norte, Villa Rica, El Porvenir, Suegro, and Encinal.

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