Aztec Minerals Intersects 0.60 gpt Gold over 122m including 0.88 gpt over 62m in Second Set of Drill Results from Cervantes Property, Sonora, Mexico
Vancouver, Canada – February 27, 2018 - Aztec Minerals Corp. (AZT: TSX-V, OTCQB: AZZTF) reports long intervals of porphyry gold (copper, silver) mineralization including shorter intervals of higher grade gold mineralization in the second set of drill results from its Phase 1, 15 hole, 3,000 metre (m) drill program at the Cervantes Project in Sonora, Mexico. The first set of drill results were released on February 1, 2018.
Drilling Highlights Include:
- 122.0 m from surface grading 0.60 grams per tonne (gpt) Au, including 0.88 gpt Au over 62.0 m in hole 18CER007 at the California zone, sample range 0.09 to 2.80 gpt Au, all 2.0 m samples
- 170.0 m from surface grading 0.42 gpt Au, including 0.87 gpt Au over 32.0 m in hole 18CER006 at the California zone, sample range of <0.005 to 2.81 gpt Au, all 2.0 m samples
- See map here
* Hole 008 was lost at 28m due to mechanical failure and drilled on the same pad as 007 at a steeper angle. Hole 007 was lost at 128.5m due to mechanical failure and broken ground.
Drill holes to date were oriented to cross the most prominent structures seen in outcrops so core lengths reflect approximately the interpreted true width of the California zone mineralization but additional drilling is needed to provide a definitive true width
Joey Wilkins, CEO of Aztec, commented: "The first eight drill holes have tested about half of the 750 m long, +0.5 gpt gold soil anomaly at California. Mineralization intersected to date starts at surface in most holes and averages more than 100 m thick.
“This Phase 1 drill program is focused on defining oxide gold mineralization in the upper 200 m. A total of 1179 m have been drilled to date in the first eight holes. Poor performance by the initial drill contractor prompted Aztec to change to a new drilling contractor during the first half of February so the next batch of drill results will be in March.”
Brief hole-by-hole descriptions follow below.
18CER006: California Zone—stronger part of gold geochemical anomaly
0-203.0m Mainly Intrusive and minor tectonic breccias, with QFP and sedimentary fragments, oxidized to goethite and hematite, altered to sericite and clay, silicified with periodic quartz veinlets or stockworks, weak siderite and calcite, sparse manganese oxides, minor patches of residual pyrite, sulphide content trace to 3%, QFP and brecciated intrusive below 140m includes quartzite and siltstone fragments, minor chlorite with sericite and silicification. Assays range trace to 2.81 gpt gold, 0.17% copper, 8.3 gpt silver
18CER007: California Zone—stronger part of gold geochemical anomaly
0-129.5m QFP with breccia and diorite dyke towards bottom of hole, strong hematite and goethite throughout, quartz veining and veinlets, silicification and sericite alteration, clays to local chlorite, occasional patches of pyrite and chalcocite
18CER008: California Zone—stronger part of gold geochemical anomaly
0-28.0m QFP, silicified and sericitized, goethite and hematite, local disseminated coarse grained pyrite, scattered quartz veinlets.
Joey Wilkins, B.Sc., P.Geo., President and CEO of the Company, is the Qualified Person who reviewed and approved the technical disclosures in this news release. All core samples were split in half, placed into plastic bags, labeled with sample number, closed with zip ties, and placed in rice sacks. Samples were typically collected in 2.0m intervals with occasional exceptions of 1.5 or 3.0m intervals. Blanks, duplicates, and 3 certified standards were inserted into the sample stream and subsequently reviewed without any outliers or abnormal results. The samples were delivered to Bureau Veritas Laboratories in Hermosillo and analyzed for gold using a 30gram sample by fire assay fusion with AAS finish. Samples were shipped to Vancouver and analyzed with a 0.25gram sample using 4-acid ICP-MS providing analysis on 45 elements.
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.
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. The second project is the district-scale historic Tombstone properties in Cochise County, Arizona. Aztec’s shares trade on the TSX-V stock exchange under the symbol AZT and on the OTCQB under the symbol AZZTF.
Contact Information - For more information, please contact:
Neil MacRae, Vice President, Investor Relations
Tel: (604) 685-9770
Fax: (604) 685-9744
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 2018 and the future, including receipt of regulatory approval of the Option Agreement, the exercise of the option on the Tombstone properties, the planned exploration activities on the Cervantes and Tombstone properties, receipt of assay results from drilling on the Cervantes property, the completion of further drilling on the Cervantes property, 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.