Defines Porphyry-Type Gold-Copper Mineralization Over 800 Meters Length Still Open for Expansion
Identifies Several New Porphyry-Type Targets Including High Grade Gold on Expanded Land Position at Cervantes
Vancouver, Canada – June 26, 2018 - Aztec Minerals Corp. (AZT: TSX-V, OTCQB: AZZTF) has successfully concluded its Phase 1 drill program on the Cervantes Property in Sonora, Mexico. The final 6 holes, CER12 to CER017, intersected long intervals of porphyry-type gold (copper, silver) mineralization and extended the strike length to more than 800 meters at the California prospect (view drill map here).
Recent drilling highlights include 0.48 grams per tonne (gpt) gold, 0.07% copper and 2.0 gpt silver over 85.2 m (approximate true width) in hole CER15, with a higher grade intercept of 0.66 gpt gold over 30.2 m. A total of 17 core holes were drilled for a total of 2,674 meters (m) in the California and Jasper prospect areas, including 3 holes lost at shallow depths due to difficult drilling conditions.
Drill Hole Results
| From | To | Interval (m) | Gold | Copper | Silver | |
| Hole No. | (m) | (m) | (m) | (gpt) | (%) | (gpt) |
| *12 | 36.4 | 52.9 | 16.5 | 0.25 | 0.12 | 2.2 |
| 13 | 0.5 | 101 | 100.5 | 0.22 | 0.12 | 2.1 |
| incl. | 16.8 | 93 | 76.2 | 0.25 | 0.15 | 2.4 |
| also | 41 | 63 | 22 | 0.37 | 0.38 | 3.2 |
| 14 | 0 | 98.5 | 98.5 | 0.41 | 0.13 | 2.2 |
| incl. | 16 | 49 | 33 | 0.60 | 0.02 | 2.2 |
| also | 54.5 | 98.5 | 44 | 0.38 | 0.26 | 2.2 |
| also | 116.9 | 125 | 8.1 | 0.35 | 0.07 | 2.4 |
| 15 incl. also |
1.8 1.8 42 |
87 32 60 |
85.2 30.2 18 |
0.48 0.66 0.51 |
0.07 0.02 0.24 |
2.0 3.0 0.5 |
| 16 incl. |
1.5 1.5 |
92 36 |
90.5 34.5 |
0.29 0.55 |
0.06 0.03 |
1.4 1.5 |
| 17 incl. also |
4 20 56 |
120 82 70 |
116 62 14 |
0.35 0.50 0.84 |
0.06 0.06 0.07 |
1.6 2.0 1.9 |
*hole 18CER012 was abandoned at 52.85m due to drilling problems.
Drill holes were oriented to cross the most prominent mineralized structures seen in outcrops so core lengths reflect the approximate interpreted true width of the California zone mineralization.
President and CEO Joey Wilkins stated, “Every hole in our Phase 1 drill program intersected porphyry-type gold-copper-silver mineralization, and most holes collared in outcropping mineralization. Ignoring the abandoned holes CER1, 8 and 12, over half the holes at the California prospect intersected robust 100+ meter widths of higher grade mineralization exceeding 0.4 gpt gold, spanning an 800 meter length and a 200 meter breadth, to a maximum vertical depth of 150 meters (view drill section here).”
“The California mineralized zone remains open for expansion along strike, across the breadth and down plunge, where a large, strong IP chargeability remains to be tested by a Phase 2 drill program. A variety of mineralized breccias and quartz feldspar porphyry host rocks exhibiting intense alteration continue to represent a dynamic and pervasive style of high level porphyry mineralization for further drilling.”
Drill Hole Summaries
18CER012: California Zone—Northern edge of gold soil anomaly
0-19.7m, Quartzite rich overburden? 19.7-52.85m: mixture of QFP, FBX (faulted breccia), and IBX (intrusive breccia), oxidized to 22.7, mixed oxide/sulphide to 32.4m, transition quickly to 3.5 to 4.5% total sulphide, dominantly pyrite with lesser disseminated and veinlet chalcopyrite, strong silification with quartz veining and sericite, minor chlorite. Hole was lost at 52.85m.
18CER013: California Zone—Center of gold soil anomaly
0.5 to 144.5m: IBX and FBX breccias, dominated by QFP fragments, pervasive silicification and quartz veining, sericite, clay, chlorite, alunite alteration, late calcite deeper in hole, sulphides are disseminated, vein, and as matrix filling, dominated by pyrite with lesser chalcocite, chalcopyrite, and arsenopyrite, trace up to 8% total sulphides, trace molybdenite in upper part of hole with 6.3m mafic dyke starting at 10.5m. Strongly oxidized in upper 45.3m with goethite, hematite, and local jarosite.
18CER014: California Zone—Center of gold soil anomaly
0 to 125m: Breccias, IBX, and minor quartz feldspar porphyry intrusive, oxidized as goethite, hematite, and jarosite to 47m followed by quick transition to sulphides trace up to 8%, with pyrite, chalcocite, chalcopyrite, rare arsenopyrite, and molybdenum, increasing silicification with depth with intense quartz stockworks and abundant tourmaline near bottom of interval with pyrite and chalcopyrite. 125 to 163.5m has increased sediment and quartzite breccia clasts with decreasing but variable QFP and finer felsic intrusive clasts, light brown biotite hornfels is present in silty sediments with pervasive quartz stockworks, tourmaline breccias or veins and sparse molybdenum and chalcopyrite.
18CER015: California Zone—Center of gold soil anomaly
0 to 160.5m: Polymictic to intrusive breccias, minor quartz feldspar porphyry cut by narrow aplite and mafic dykes. Strongly oxidized with goethite, hematite, and jarosite to 42m, transitioning into sulphide dominated rocks with pyrite, minor chalcopyrite and chalcocite. Quartz, sericite, clay, chlorite, and minor tourmaline. 160.5 to 196.85m is a quartzite dominated breccia with quartz feldspar clasts giving way to a mix of hornfels and quartzite-quartz feldspar porphyry breccias, all of which are silicified with quartz stockworks and 1 to 3% disseminated pyrite +/- chalcopyrite and trace molybdenite.
18CER016: California Zone—Center of gold soil anomaly
1.5 to 93.2m: Polymictic to intrusive breccias with intervals of quartz feldspar porphyry, oxidized to 49m transitioning to sulphide dominated by pyrite with minor chalcopyrite, quartz-sericite-clay+/-chlorite alteration, 93.2 to 183.0m consists of 10-15m intervals of quartzite and/or hornfels breccias and polymictic breccias, strongly silicified with stockworks, sericite, sparse chlorite, late mineral 1.0-2.0m mafic (dioritic) dykes, traces of molybdenite with hornfels and quartz veinlets towards bottom of hole.
18CER017: California Zone—Eastern edge of gold soil anomaly
0 to 118.4m: Quartz feldspar porphyry, polymicitic breccia, and minor faulted breccia, strong oxidation of disseminated to vein sulphide, goethite and hematite, sparse malachite and manganese oxide. Patches of residual pyrite+/- chalcopyrite. Alteration consists of sericite-quartz veinlets and silicification with minor chlorite, siderite and calcite. 118.4 to 155.9m is a fine grained diorite dyke with clay-chlorite alteration, pervasive sericite-quartz alteration with disseminated oxidized pyrite to hematite-goethite. 155.9 to 217.0m, polymictic breccias and quartz feldspar porphyry, sericite-quartz alteration, goethite/hematite veinlets, local residual pyrite, trace chalcopyrite and molybdenite.
New Prospects
With the Phase 1 drilling completed, Aztec has initiated additional exploration work on the newly acquired lands surrounding the California prospect in order to assess several other possible porphyry gold-copper prospects located on our expanded property holdings (view prospect map here).
Specifically, additional exploration work planned or completed includes the following:
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.
Tombstone Property
Aztec’s technical committee recently completed a site visit of the Company’s Tombstone project covering most of the famous Tombstone silver mining district in Cochise County, Arizona. Aztec holds an option to acquire a 75% interest in the property from Baroyeca Gold and plans to commence exploration work this summer at Tombstone.
Historic silver production in the district from 1878 to 1939 was estimated at 32 million oz from several small vein mines. Aztec management views the district as highly prospective for the discovery of both epithermal and carbonate replacement orebodies. The district is underlain by the same Paleozoic limestone sequence that hosts the massive Taylor zinc-silver-lead deposit of Arizona Mining Inc. located only 60 km west of Tombstone. Arizona Mining is currently the subject of a friendly CAD$1.8 billion take over bid by South32. Details of the Phase 1 exploration program at Tombstone will be released in July.
QA/QC Procedures
Joey Wilkins, B.Sc., P.Geo., 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 polyfiber sacks. Samples were predominantly collected in 2.0 m intervals with occasional exceptions up to 6.0 m intervals due to lower core recovery. Blanks, duplicates, and certified standards were inserted into the sample stream and subsequently reviewed, without any outliers or abnormal results. Soil samples were collected in the field with a minus 10 sieve, collecting 1.5 to 2.0 kg samples in manila envelopes or plastic bags. The XRF scanning of soil samples for base metals was conducted on the samples through the plastic sample bags at 2 to 5 separate points on the bag then results were averaged. The core and soil samples were delivered to Bureau Veritas Laboratories in Hermosillo and analyzed for gold using a 30 gram sample by fire assay fusion with AAS finish. Core sample pulps were shipped to Vancouver and analyzed with a 0.25gram sample using 4-acid ICP-MS providing analysis on 36 elements.
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
Email: neil@aztecminerals.com
Website: www.aztecminerals.com
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