Following the successful IPO in Toronto, the only genuine IPO there this year, Axo Copper (WKN A416BY / TSXV AXO) had already announced plans to resume drilling soon on the high-grade La Huerta copper project. Even before that, numerous surface samples had been taken in areas about 3 kilometers away from the main La Huerta trend and the area of historical mining (Las Marias). As it turns out now, these repeatedly showed copper grades of more than 10%!
Axo had taken grab and channel samples in the area called La Huerta South, located approximately 3 kilometers southwest of Las Marias and the La Huerta main trend, as part of regional exploration activities. In doing so, they demonstrated numerous examples of elevated copper grades at the surface. Interestingly, the company further states, the copper mineralization at La Huerta South was found within north-south faults in andesitic volcanic rocks, while the main La Huerta trend is characterized by an intrusive dike with a northeast to southwest strike direction.
Axo Copper Identifies Two New High-Grade Copper Trends
In detail, Axo geologists currently see two broad trends at La Huerta South. The first trend has been demonstrated over a strike length of about 1,000 meters so far. Here, the company led by CEO Jonathon Eglio found outstanding sample results, including 7.0% copper in sample LHS-3528, 10.8% copper in LHS-3494, and 10.5% copper with LHS-3367! Furthermore, the company reports frequently encountering copper grades of more than 2.0% copper in chalcopyrite and bornite.
North of this north-south fault lies an antithetic structure with an east-west strike direction, currently extending about 500 meters along strike. Here too, the mineralization consists mainly of chalcopyrite and bornite. The highlights of the samples taken in this structure were 3.6% in sample LHS-15808 and 2.6% in LHS-1244.
These high-grade surface samples seem to further support the company’s thesis that La Huerta could contain multiple high-grade copper structures beyond the La Huerta main trend with the historical occurrences of Las Marias. Axo Copper has already initiated further activities to develop La Huerta South into a drill-ready target. CEO Eglio expects that initial drill tests there could take place as early as the end of the third quarter!
