What I see is that the main known deposit is 100m x 250m in dimension and between 0.5 and 3.5m think.
If one were to choose say 2.5m average thickness that gives 62,500m3 of mineralisation.
So what bulk density? say 3.5 t/m3
So that gives me 200,000t of ore.
So that is a pretty modest start, but what would you expect for $1.5M.
But plenty of exploration upside, and they are maybe already half way to a mine.
AZS state they will go directly to resource drilling.
I figure AZS is a good punt right now with a clear run with no capital raising to the first set of drill results.
And in the mean time Teck might release something interesting re Alacran as a bonus.
Pity AZS is bloated with shares on issue and market cap that is not necessarily tiny. But is has been bashed up for a while now and maybe the stale holders have been flushed out.
Seems like a good spec punt for the next 6 months as news flow comes in from Oposura.
Gosouth
AZS Price at posting:
1.4¢ Sentiment: None Disclosure: Not Held