Aztec Minerals Corp. [AZT-TSXV; AZZTF-OTCQB] reported results of the final five drill holes from the 21-hole, 2,993-metre Phase 1 reverse circulation (RC) program, TR20-17 through TR20-21, for the Tombstone Project in southeastern Arizona. Extensive gold-silver mineralization was intersected in all five drill holes.
High-grade intercepts include 7.62 metres grading 4.18 g/t gold and 174.2 g/t silver (6.36 g/t gold equivalent (AuEq) at a gold:silver ratio of 80:1) in hole TR20-18 and 22.86 metres assaying 1.74 g/t gold and 56.1 g/t silver (2.45 g/t AuEq) in hole TR20-20.
Thick mineralized intervals include 140.21 metres of 0.38 g/t gold and 19.3 g/t silver (0.62 g/t AuEq) in hole TR20-17 and 82.3 metres of 0.74 g/t gold and 23.8 g/t silver (1.03 g/t AuEq) in hole TR20-20. Drill hole TR20-20 was drilled perpendicular to the north-trending mineralized zone and is interpreted to represent an approximate true thickness of gold-silver mineralization.
CEO Simon Dyakowski said, “The shallow oxide gold-silver mineralization encountered in Aztec’s phase 1 drill results along the Contention pit include some of the highest-grade gold and silver intervals found to date at Tombstone. Combined with broad intervals of low-to-moderate-grade gold and silver mineralization, Aztec now has the confidence to target a potential shallow, bulk-tonnage oxide resource with further drilling. Aztec’s phase 1 drill expenditures should be sufficient to allow Aztec to vest a 75-per-cent interest in the Tombstone project.”
The plan view dimensions of gold-silver mineralization now stand at 285 by 200 metres within the orbit of the centre spoke, with excellent potential to expand to the north and south. The overall length of the gold-silver-mineralized zone, as tested by the phase 1 drilling, now stands at 830 metres long by up to 200 metres wide, still open to the south.
Aztec holds an option to acquire a 75% interest in the Tombstone property, which includes most of the original patented mining claims in the district as well as some recently acquired properties. The main target of the current RC drill program was to test for shallow, bulk tonnage, heap leachable, epithermal gold-silver oxide mineralization adjacent and below the previously mined Contention pit. Future drilling is expected to focus on extensions of the shallow oxide mineralization already tested, as well as larger, deeper “Taylor-type” CRD targets along the Contention structure.