According to scoping work the operation would annually produce an average of 19,000t of zinc, 10,000t of lead and 145,000 ounces of silver,

Opencut and underground mining is envisaged for an initial 5.3 years at an average rate of 500,000tpa and average grades of 4.6% zinc, 2.6% lead and 15.9 gram per tonne silver.

Oposura has current resources of 2.9 million tonnes at 5% zinc, 2.8% lead and 17gpt silver.

Azure has calculated its Oposura project would have a net present value of $112 million. 

A prefeasibility and definitive feasibility studies are targeted to be completed in 2019, with first production in late 2020 or early the following year.

Azure had cash at the end of July of $6.1 million.

Shares in Azure (ASX: AZS) were up 5% to 20.5c, capitalising the company at A$23 million.