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Azucar Provides Update for the El Cobre Project, Mexico

Azucar Provides Update for the El Cobre Project, Mexico
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Azucar Grants Stock Options

Azucar Grants Stock Options
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Azucar Grants Stock Options

Article content
VANCOUVER, British Columbia, May 07, 2021 (GLOBE NEWSWIRE) Azucar Minerals Ltd. (“Azucar” or the “Company”) (TSX-V: AMZ; OTCQX: AXDDF) announces that, pursuant to its Stock Option Plan, it has granted stock options to certain directors, employees, and consultants of the Company to purchase an aggregate 3,984,200 common shares in the capital of the Company at an exercise price of $0.12 per share which expire on May 11, 2023.
About Azucar
Azucar is an exploration company with a mandate to thoroughly explore the El Cobre project in Veracruz, Mexico, which covers multiple gold-rich porphyry targets, as demonstrated by recent drilling. Azucar holds a 100% interest in the El Cobre project, subject to net smelter returns (“NSR”) royalty interests, assuming production from the property exceeds 10,001 tonnes per day of ore, totaling 2.25% which can be reduced to 2.0% though the payment of US$3.0 million. ....

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Azucar hits 65.50 metres of 0.39 g/t Au and 0.22% Cu at the Porvenir Zone, El Cobre Project, Mexico

And 242.50 to 268.00m, 25.50 metres @ 0.52 g/t gold and 0.30% copper
J. Duane Poliquin, Chairman of Azucar commented, “With the announcement of the initial resource at the Norte target in September last year, our exploration focus is now two-fold; to better understand other near surface zones of mineralisation, such as Porvenir, and to continue our search for additional porphyry centres at the project.”
About the El Cobre Project
To date, Azucar has discovered five copper-gold porphyry zones within the El Cobre Project along an approximately 5km trend, stretching from Norte down to Encinal in the southeast (Figure 1). These zones are defined by distinct Cu-Au soil anomalies, discrete, positive magnetic features, a large IP chargeability anomaly, and drilling. A summary of the various zones is provided below. ....

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