Vancouver, Canada – July 25, 2017 - Aztec Minerals Corp. (AZT: TSX-V) announces it has commenced the 2017 exploration program at the Cervantes property in Sonora State, Mexico. Work now underway includes a more detailed review of historic drill data not previously released, as well as additional geological mapping and geochemical rock and soil sampling of the main California gold prospect and the Jasper copper-gold prospect area immediately west of the California gold prospect area.
The main goal of this work is to better define the extent of gold-copper porphyry mineralization on surface for the Phase 1 drill program which is expected to commence after the rain season ends in September-October. Phase 1 drilling will primarily target the surficial oxide gold zone with minor copper which overlies the main IP chargeability anomaly, interpreted to be a large body of porphyry copper-gold mineralization.
A more detailed review of historic drill data obtained from Industrias Penoles S.A. de C.V., who drilled 9 core holes totaling 1590 meters in 1996 and 5 reverse circulation holes totaling 927 meters in 1997, has revealed several long drill intercepts of gold mineralization. Highlights include 0.40 gpt gold over 99.4 m, 0.43 gpt gold over 88.1 m and 0.41 gpt over 141.1 m as shown in the table below.
|Hole||From (m)||To (m)||Width (m)||Au (gpt)|
Aztec has an incomplete dataset of the Penoles results, this data is historic and has not yet been verified by Aztec, therefore Aztec is not relying on this information and is using it only as a guide to its Phase 1 exploration program.
Recent mapping and interpretation suggests the main quartz feldspar porphyry intrusion and related gold-copper mineralization dip steeply southeast whereas Penoles drilling assumed a northwest dip. New mapping is focusing on quartz vein density and orientations which will be analyzed by stereonet software, plotted, and utilized for drill targeting. A channel sampling program across the heart of the gold soil anomaly over the California target will commence shortly, followed by exploration drill hole permitting.
The Jasper copper prospect lies immediately west of the California gold prospect separated by a north-south trending normal fault zone that appears to have dropped the west side down compared to the east side. The main IP chargeability anomaly continues west across the fault, suggesting that porphyry copper-gold mineralization could continue to the west at depth. A 50m x 50m detailed soil survey was completed last week over Jasper, augmenting and extending the California 50m x 50m survey.
Additionally, two known areas of copper oxide and gold mineralization were hand trenched over 10 to 20m widths through a complex mixture of highly fractured and silicious hornfels, metasediments and quartz feldspar porphyry. Trenching exposed numerous new areas of copper mineralization, including neotocite and chrysocolla saturation and localized chalcocite mineralization. A total of 60 rock chip and channel samples were recently collected.
Joey Wilkins, B.Sc., P.Geo., is the Qualified Person who supervised the field work and approved the technical disclosure in this news release. All samples, including certified standards and duplicates, have been submitted to Bureau Veritas Laboratories in Hermosillo, Sonora.
About Aztec Minerals – Aztec is a mineral exploration company focused on the discovery of large porphyry gold-copper deposits in the Americas. Our first project and core asset is the prospective Cervantes gold-copper property in Sonora, Mexico. Aztec’s shares trade under the symbol AZT on the TSX-V.
Contact Information - For more information, please contact:
Joey Wilkins, President and CEO
Tel: (604) 685-9770
Fax: (604) 685-9744
Website: www.aztecminerals.com (under construction)
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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 2017 and the future, including planned exploration and acquisition programs and budgets 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 Mexico; 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.