Aztec Minerals Corp. [AZT-TSXV; AZZTF-OTCQB] on Wednesday reported positive results from rock chip sampling along drill roads at its California porphyry gold-copper prospect on the Cervantes property in Sonora Mexico. Highlights include 0.47 g/t gold over 222.0 metres.
The company said rock chip sample results from five of seven sample lines confirm the previous highly anomalous soil sample results and extensive porphyry-type gold mineralization intersected in the Phase 1 drill program.
“Every hole in our Phase 1 drill program intersected porphyry-type gold-copper-silver mineralization, and most holes collared in outcropping mineralization,” Aztec CEO Joey Wilkins said recently.
Of particular interest is rock sample line G, which returned 0.02 g/t gold over 111.0 metres adjacent to hold 18CER017, which intersected 0.35 g/t gold over 116 metres, with 62 metres of 0.50 g/t gold. “More studies are required to understand the controls on mineralization and infill drilling should help to better define the geometry of the subsurface mineralized zones,” the company said in a press release.
Aztec’s $182,000 Phase 2 exploration program of geological mapping, rock, soil and sediment sampling and airborne magnetic and radiometric surveys is focused on better defining additional drill targets on the recently expanded (3,649 hectares) Cervantes property, the company said.
Aztec is a mineral exploration company focused on the discovery of large gold-copper deposits in the Americas. Cervantes is the company’s flagship asset. It is located in the Laramide porphyry belt approximately 265 km southeast of the huge Cananea porphyry copper-molybdenum mine of IMMSA and 55 km west of Alamos Gold Inc.’s [AGI-TSX, NYSE] Mulatos epithermal gold mine. The property is situated on private ranch lands accessed via dirt road from the town of Tonichi.
Aztec’s second property is the district-scale Tombstone Project, which holds both bulk tonnage epithermal gold-silver as well as CRD silver-lead-zinc deposits in Cochise County, Arizona. Aztec has the option to acquire a 75% interest in the Tombstone Project, which covers most of the famous Tombstone silver mining district.
Historic silver production in the district from 1878 to 1939 was estimated at 32 million ounces from several small vein mines. Aztec management views the district as highly prospective for the discovery of epithermal and carbonate replacement orebodies.
Aztec shares were unchanged at 23 cents on Wednesday. The 52-week range is 14.5 cents and 38 cents.
Cervantes is held under an option agreement with Kootenay Silver Inc. [KTN-TSXV; KOOYF-OTC], that allows Aztec to acquire a 100% interest in the property in two stages.
To date, soil sampling results range from 0.005 g/t up to 3.30 g/t gold (mostly 0.05 to 1.0 g/t gold) and confirm four historic prospects as highly anomalous gold targets, the company said.