Aztec, Kootenay drill 152.4m of 0.87g/t Au at Cervantes
2022-04-13 08:34 ET - News Release
Also News Release (C-KTN) Kootenay Silver Inc
Mr. Simon Dyakowski of Aztec Minerals reports
AZTEC-KOOTENAY JV REPORTS ADDITIONAL STRONG DRILL RESULTS FROM CALIFORNIA ZONE AT CERVANTES PROJECT IN SONORA, MEXICO; INTERSECTS 0.87 GPT AU OVER 152.4 M INCLUDING 2.05 GPT AU OVER 33.5M
Aztec Minerals Corp. and Kootenay Silver Inc. continue to intersect broad, well-mineralized gold mineralization from the 2022 reverse circulation drill program at the California target on the Cervantes property, located in Sonora, Mexico. Results for hole CAL22-012 returned 152.4 metres grading 0.87 gram per tonne gold, including 33.5 metres grading 2.05 g/t Au.
California zone drill highlights:
- 0.43 g/t Au over 132.2 m in mineralized quartz-feldspar-porphyry and hydrothermal breccias in CAL22-011, including 12.2 metres of 1.29 g/t Au, located at the northern edge of the central portion of the mineralized zone;
- 0.87 g/t Au over 152.4 m in mineralized porphyries and hydrothermal breccias in CAL22-012, including 33.5 metres of 2.05 g/t Au, located at the northern edge of the central portion of the mineralized zone;
- 0.48 g/t Au over 54.9 m in mineralized porphyries and hydrothermal breccias in CAL22-014, located at the northern edge of the eastern portion of the mineralized zone.
The primary focus of the phase 2 RC drill program at Cervantes is to expand the previously drilled California zone by completing two drill hole fences parallel to, and on either side of, the 2017/2018 phase 1 drill hole fence. To date, every hole drilled at California has intersected near-surface, oxidized gold mineralization with minor copper oxides.
Reported lengths are apparent widths, not true widths, and the observed gold mineralization appears to be widely distributed in disseminations, fractures and veinlets within quartz-feldspar-porphyry/feldspar-porphyry stocks and related hydrothermal breccias.
Aztec chief executive officer Simon Dyakowski commented: "These intersections continue to expand the oxide-gold-mineralized zone at California. This discovery further advances the California gold zone in demonstrating the open-pit heap-leach gold potential of the project. The Cervantes 2021/2022 RC drill program continues to return strong gold grades over broad widths in every drill hole reported to date."
Holes CAL22-011, CAL22-012 and CAL22-014 intersected extensive gold mineralization (see an attached table), extending the known mineralized zone at depth and to the north. The phase 2 RC drilling program has been completed. It covers an area now measuring approximately 900 metres long by 25 metres to 500 metres wide, with demonstrated, continuous mineralization up to 265 m depth vertically. The porphyry gold-copper mineralization is still open in all directions.
The Aztec-Kootenay joint venture has completed its phase 2 reverse circulation program of 26 holes, totalling 4,649 metres, at the Cervantes property. Drilling commenced in December, 2021. The planned drill testing of the four main targets of the Cervantes phase 2 drilling program is now complete. The primary objectives of the 2021/2022 phase 2 exploration program were to: better define the open-pit heap-leach gold potential of the porphyry oxide cap at California; evaluate the potential for deeper copper-gold porphyry sulphide mineralization underlying the oxide cap; test for north and west extensions of the California mineralization at California North and Jasper; and assess the breccia potential of Purisima East.
Drill sample cuttings are collected every five feet (1.52 m) from all drill holes. The samples are analyzed by Bureau Veritas for gold with a 30-gram sample size using the FA430 method followed by MA300. Overlimits, when present, are analyzed by AR404 or FA550. All holes contain certified blanks, standards and duplicates as part of the quality assurance/quality control program. The quality assurance/quality control program has delivered excellent results to date and good data integrity. The samples are shipped to, and received by, Bureau Veritas for gold and multielement geochemical analyses, and additional gold results will be received and reported in the next several weeks. Final multielement ICP results are expected to follow the release of the preliminary gold assays and are expected to be received during the second quarter of 2022.
Aztec has completed: drill hole collar surveying; fieldwork for a drone photogrammetry survey to create a detailed ortho-topographic base map; and Terraspec readings on the RC drill chips. Aztec will now carry out channel sampling and geologic mapping of the new drill roads at California, California Norte and Jasper, as well as expand surface sampling and mapping on the property in general to continue the 2021 phase 1 surface program.
Marketing service agreement
On April 7, 2022, Aztec entered into a service agreement with Lakefront Enterprises Inc., an arm's-length party to the company and a digital/mobile marketing firm, to provide marketing services focused on the North American markets. Lakefront will provide the company with content creation, distribution and advertising services in North America. The term of the agreement commences on or around April 14, 2022, and will run for an approximate 12-month period. In consideration for the services provided, the company has agreed to pay Lakefront a fee of $80,000.
Allen David Heyl, BSc, CPG, vice-president of exploration at Aztec, is the qualified person supervising the Cervantes exploration program. Aztec is conducting reverse circulation drilling at Cervantes and collecting five-feet (1.52 m) samples for all drill holes. All drill hole sample batches contain certified blanks, standards and duplicates as part of the quality assurance/quality control program. Mr. Heyl reviewed and approved the technical disclosure in this news release.
About Aztec Minerals Corp.
Aztec is a mineral exploration company focused on the discovery of large polymetallic mineral deposits in the Americas. Aztec Minerals' core asset is the prospective Cervantes porphyry gold-copper property in Sonora, Mexico. Aztec also has control of the historical, district-scale Tombstone properties, which host both bulk-tonnage epithermal gold-silver as well as CRD (carbonate replacement deposit) silver-lead-zinc mineralization, in Cochise county, Arizona.
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