Aztec Minerals Reports High Gold Recoveries By Cyanide Leach Analysis Of Drill Cores From the California Gold Prospect, Cervantes Property, Sonora, Mexico
430 km Airborne Geophysical Survey Recently Completed Over Entire 3,649 Hectare Cervantes Property
Vancouver, Canada – December 18, 2018 - Aztec Minerals Corp. (AZT: TSX-V, OTCQB: AZZTF) reports high gold recoveries by cyanide leach analysis of five (5) drill holes from the California porphyry gold-copper prospect on the Cervantes property in Sonora, Mexico. The drill holes were selected from a northeast to southwest fence to represent the following main types of mineralization: oxide, mixed oxide-sulphide, copper enriched, and sulphide.
Excellent gold recoveries by cyanide leach analysis include 87% gold and 45% silver recovery over 98.0 meters in hole 18CER007, 84% gold and 54% silver over 106.0 meters in 18CER006, and 84% gold and 49% silver over 93.5 meters in hole 17CER003. Silver recoveries around 50% are considered normal for most oxide gold deposits, as silver has slower leach kinetics compared to gold.
“We are very happy to see such high gold recoveries using the ALS-Chemex cyanide leach analysis, a clear indication that the precious metals in the gold oxide cap of this newly discovered porphyry gold-copper system are amenable to leach processing”, commented Joey Wilkins, President and CEO. “We plan to conduct more detailed metallurgical test-work on both leach and flotation recoveries in order to more fully un-lock the mineral potential of the California zone but these positive leach results are a great start.”
Table 1: Cyanide leach results, holes 17CER003, 18CER006, 18CER010, & 18CER015
|Drill Hole||Interval (m)||From
Note: Au gpt and Ag gpt grades are original weighted average assays from Bureau Veritas
In addition to excellent gold recoveries from oxide material, significant cyanide leach results were obtained from sulphide mineralization, such as 52% gold recovery in hole 18CER015 over 16.0 meters at 71.0-87.0 meters and 73% gold recovery in hole 18CER010 over 40.0 meters at 96.0 to 136.0 meters. However, lower cyanide leach gold recoveries were recorded in material where copper sulphide enrichment is abundant, but this type of mineralization represents only around 20% of the overall California zone.
Additionally, a helicopter-based airborne magnetic, radiometric, and VLF survey was recently completed at Cervantes covering the entire 3,649 hectare claim block with 100 meter spaced lines. The preliminary data show an extensive magnetic high under the California target extending and broadening towards the north. Other targets such as Purisima and Jacobo have either low to very high magnetic responses respectively, suggesting that there is more than one phase of porphyry intrusions on the property. The radiometrics highlight the prominent Northeast-Southwest mineral trend and illuminate individual targets by their high total count (TC) responses.
A large and interesting northwest-southeast oriented magnetic high was detected on the northwest side of the survey and corresponds to a newly identified area of extensive gossan oxide and pyrrhotite-pyrite-chalcopyrite-arsenopyrite mineralization in hornfels and sediments intruded by feldspar-quartz porphyry dykes. The pyrrhotite indicates a reduced copper-gold system and likely contributes to the magnetic high.
Aeromagnetic and radiometric images are forthcoming and will be posted on our website once final processing has been completed. Interpretation of results will follow.
The Cervantes Property is held under an option to purchase agreement with Kootenay Silver Inc. (TSX-V:KTN) whereby Aztec can acquire up to 100% interest in the property in two stages. Additional information can be found on our website.
Joey Wilkins, B.Sc., P.Geo., is the Qualified Person who reviewed and approved the technical disclosures in this news release. Bulk samples were transported from Aztec’s secure warehouse to the ALS prep lab in Hermosillo then split for leach tests. The cyanide leach analyses were performed at ALS-Chemex with certified standards inserted into the sample stream and passed protocol. The new cyanide leach sample data was treated the same as prior drill hole geochemistry by calculating weighted average composites for true averaging. All data passed quality control and review under NI43-101 standards.
About Aztec Minerals – Aztec is a mineral exploration company focused on the discovery of large gold-copper deposits in the Americas. Our core asset is the prospective Cervantes porphyry gold-copper property in Sonora, Mexico. Our district-scale historic Tombstone properties hold both bulk tonnage epithermal gold-silver as well as CRD silver-lead-zinc deposits in Cochise County, Arizona. Aztec’s shares trade on the TSX-V stock exchange (symbol AZT) and on the OTCQB (symbol AZZTF).
Contact Information - For more information, please contact:
Neil MacRae, Vice President, Investor Relations
Tel: (604) 685-9770
Fax: (604) 685-9744
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Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward?looking statements and information herein include but are not limited to statements regarding Aztec’s anticipated performance in 2018 and the future, including the exercise of the options on the Cervantes and Tombstone properties, the planned exploration activities, receipt of assay results from drilling, the completion of further drilling and exploration work, and the timing and results of various activities. The Company does not intend to, and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.
Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Aztec and its operations to be materially different from those expressed or implied by such statements. Such factors include, among others, changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and the United States; financial risks due to precious and base metals prices, operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development, risks in obtaining necessary licenses and permits, and challenges to the Company’s title to properties.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the continued operation of the Company’s exploration operations, no material adverse change in the market price of commodities, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.