Aztec Minerals (TSXV:AZT), shared the assay results from three of its drill holes, part of the 2023 core drilling initiative at the historic Tombstone project in southeastern Arizona. Aztec, holding a significant 75% stake in the Tombstone Property Joint Venture, is involved in managing a majority of the region’s original patented mining claims, and more recently acquired properties.

Aztec Mineral CEO Simon Dyakowski commented in a press release: “Our first core drilling program at the Tombstone Project continues to intersect broad, shallow, and oxidized zones of high-grade silver and gold, at the Contention open pit target. These most recent results highlight the expansion of the mineralized zone in the south-central and eastern portion of the target zone. We eagerly await the receipt of assays from the final holes of the now complete core drilling program.”

The three drill holes, forming a part of a 7-hole program, were meticulously drilled in a fan-grid pattern across the Contention open pit. All the drill holes made a significant impact, intersecting several underground mine workings.

The high-grade samples of silver and gold were found in the drill hole TC23-05, which was located within a zone of oxidized, altered siltstones and sandstones, and a Qfp dike at a relatively shallow depth between 19.8 and 55.8 meters. The drill hole TC23-05 unveiled a broad oxidized zone with an average of 2.82 gpt Au and 176.64 gpt Ag (5.02 gpt AuEq), with several high-grade silver zones also being discovered. It’s worth noting that the gold equivalence (AuEq) was determined using an 80:1 silver:gold ratio. The drill hole also encountered multiple levels of mine workings, suggesting the Blue limestone target was reached with a mineralized zone near the end of the drill hole.

Further, the drill hole TC23-03, situated within the central portion of the main Contention pit, yielded 62.5 m of 0.47 gpt Au and 24.05 gpt Ag (0.77 gpt AuEq) in oxidized, altered siltstones and sandstones, and a Qfp dike with mine workings.

Drill hole TC23-04, located near the east foot of the Contention pit, intersected 35.0 m of 0.12 gpt Au and 19.14 gpt Ag (0.36 gpt AuEq) in oxidized, altered siltstones and sandstones, and a Qfp dike with multiple mine workings.

In addition, drill hole TC23-02, initially drilled to a depth of 27 m, was temporarily suspended due to challenging drilling conditions but was later resumed and successfully extended to a total depth of 139 m. The results from the samples taken from this hole are eagerly awaited within the next three weeks, alongside the results from holes TC23-06 and TC23-07.

These three drill holes – TC23-03, TC23-04, and TC23-05 – were aimed at expanding the mineralization knowledge in the central and southern portions of the main Contention pit. The entire drilling program was meticulously planned to navigate through the complex old mine workings, multiple faults, and reach the water table just below the sixth level and the key district host limestones at depth. The drilling has successfully widened the extent of mineralization to the west, east, and to depth, indicating a potential increase in the volume of oxidized Au-Ag mineralization.

Aztec Minerals Corp. has now successfully completed its 7-hole core drilling program. Thus far, assays for four holes have been reported. The collection of samples adheres to a QAQC program that aligns with industry standards, including certified standards, blanks, and sample duplicates. The samples are regularly shipped to the Bureau Veritas Minerals laboratory in Hermosillo, Mexico for geochemical analysis.

The core samples are cut and consistently collected over 5 foot (1.52m) sample intervals from all drill holes. They were analyzed for gold using the fire assay method FA430, followed by multi-element MA300, which includes silver. When upper limits are reached, further analysis is conducted using either MA370 or FA530. As part of the quality control program, all holes contain certified blanks, standards, and duplicates. This comprehensive approach ensures the highest degree of accuracy and reliability in the company’s findings.

Section view hole TC23-03. Source: Aztec Minerals

Highlights from the results are as follows:

  • Assay results for additional 3 holes of the core drilling program reported herein
  • Hole 23-05 intersected multiple high-grade silver-gold zones within a broad, oxidized, 36.0 m mineralized zone of 5.02 gpt AuEq, including 1.52 m of 1694 gpt Ag (54.5 oz/t Ag) and 1.52 m of 1470 gpt Ag (47.3 oz/t Ag) with 1.52 m of 53.5 gpt Au
  • The core drilling program demonstrates presence of high-grade mineralization in the southern portion of the main Contention pit
  • TC23-03, TC23-04, and TC23-05 expanded mineralization around the Contention pit to the east and at depth, confirmed gold and silver mineralization in historic workings near the sixth level
  • The 7-hole core drilling program is now complete, with assay results pending from targets drilled in the South Contention pit and the northern end of the Contention pit

Table 1: Significant Drill Hole Intercepts

Drill Hole From m To m Interval m* Au gpt Ag gpt Au Eq gpt (1) Comments
TC23-01 53.3 178.3 125.0 0.58 72.19 1.63 Incl. stopes of 15.9 m**
Including: 61.0 62.5 1.52 22.40 48.70 23.01
125.0 132.6 7.65 0.52 733.92 9.70
Incl: 126.5 128.0 1.52 0.12 3477.00 43.58
TC23-03 70.1 132.6 62.5 0.47 24.05 0.77 Incl. stopes of 6.1 m**
TC23-04 12.2 47.2 35.0 0.12 19.14 0.36 Incl. stopes of 2.9 m**
TC23-05 19.8 55.8 36.0 2.82 176.64 5.02 Incl. stopes of 4.4 m**
including 23.5 39.0 15.5 6.45 408.47 11.55
  1. AuEq is calculated using a 80:1 silver:gold ratio

* All interval widths are not true widths and intercept true widths are not yet estimated.

** The mine workings void values are treated as an average grade of the combination of samples immediately before and after the voids over the reported void widths, subject to top caps of 1 gpt Au and 100 gpt Ag when needed.

Section view holes TC23-04 & TC23-05. Source: Aztec Minerals

Table 2: Completed Drillhole Details (WGS84, Zone 12R)

Drill Hole Easting Northing Elevation Azimuth Dip Depth
TC23-01 588804 350964 1414 m 0 -90 242.99 m
TC23-03 588832 3507837 1408 m 103 -60 138.37 m
TC23-04 588848 3507708 1387.7 m 103 -60 71.32 m
TC23-05 588846 3507707 1387.7 m 0 -90 158.19 m
Tombstone 2023 Core Drill Program Plan Map. Source: Aztec Minerals

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

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