Hunting for Gold-Copper Elephants in North America
Aztec Minerals
(TSX-V: AZT)(OTC: AZZTF)
Has TWO Discoveries
Follow-Up Drilling Is Underway With More Being Planned
If history is any indication…
There could be billion-dollar implications
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Aztec Minerals (TSX-V: AZT)(OTC: AZZTF), is discovering porphyries in the southwestern United States and Mexico with a proven team.
Brad Cooke is Chairman. He is the founder of the NYSE-listed Endeavour Silver. He and his team are looking for large polymetallic porphyries that a major miner would be interested in acquiring.
Brad grew Endeavour into a billion-dollar mining company. Aztec trades with just a $15 million valuation, but has already found something that could transform it into something much larger.
President and CEO Simon Dyakowski has 13 years of corporate development and capital markets experience, with an expertise in strategic planning and execution, financing, and marketing of exploration companies
Director Mark Rebagliati managed several major porphyry discoveries for Hunter-Dickinson and is a member of the Canadian Mining Hall of Fame.
Immediate-Term Drilling for Giants
Aztec controls 75% of the Tombstone project in southwest Arizona — the heart of a world class porphyry district.
Tombstone is a historic silver district that produced 32 million ounces from 1878 to 1939, followed by a small open pit heap leach gold-silver operation in the 1980s.
It is on 164 hectares of patented land with road access, full services, water, and power.
There are two targets at Tombstone:
Shallow, bulk tonnage, epithermal gold-silver mineralization
Deeper, high grade, CRD lead-zinc-silver-copper-gold mineralization
The epithermal gold-silver mineralization is where mining was previously conducted at the Contention open pit — where previous drilling has returned intersections grading up to 1.61 grams per tonne gold and 91.2 gpt silver over 44.2m. Recent high grade sampling has shown grades up to 3,178 grams per tonne gold and 23.5 grams per tonne silver.
Gold and silver are there. Some modern drilling will remind the market of it.
The deeper target is the carbonate replacement deposit (CRD). Historic deep drilling for this type of mineralization done in the 1980s returned multiple intersections grading up to 32 gpt silver, 0.61% copper, 6.5% lead and 2.6% zinc over 7.2m core length.
That historic drilling, done by Sana Fe, hit narrow, high grade polymetallic mantos in five of seven holes drilled.
Aztec has used the historic drilling, as well as modern aeromagnetics and Natural Source Audio-frequency Magnetotellurics (NSAMT) to define new targets that could represent Taylor-style massive sulphide replacement systems below the historic mines.
The Taylor deposit was discovered in 2015 by Arizona Mining beneath the historic Hermosa Silver district after a $1.6 million fundraising. It ended up being taken over by South32 for $1.8 billion, delivering over 2,300% gains for early investors.
Tombstone is the nearest historic silver district with similar Taylor-type CRD potential at depth.
In 2020, 19 of 21 holes drilled in three areas intersected widespread gold and silver mineralization, extending the mineralized zone along 830 meters of strike down to 100 meters depth below the Contention open pit.
Most drill holes intersected old mine workings, dating back to the late 1800’s, although the high-grade bonanza mineralization was previously mined, substantial lower grade mineralization was left behind.
Drill highlights from 2020 include:
High Grade Gold-Silver Highlights
TR20-09: 15.14 meters of 6.18 gpt gold and 77.2 gpt silver (7.15 gpt AuEq) from 32.0 m
TR20-02: 13.72 meters of 3.18 gpt gold and 136 gpt silver (4.88 gpt AuEq) over 13.7 m
Bulk Tonnage Gold-Silver Highlights
TR20-02: 77.72 meters of 0.94 gpt gold and 42.1 gpt silver (1.60 gpt AuEq) from 19.8 m
TR20-03: 97.53 meters of 0.77 gpt gold and 25.2gpt silver (1.07 gpt AuEq) from 6.1 m
The project is already starting to show extensive and shallow oxidized gold-silver mineralization below an open pit that operated in the 1980s at much lower metals prices.
These results are high-grade in comparison to modern day open pit heap leach mines in the region.
Drilling in 2021 has continued to turn up excellent results.
The 23-hole, 3,000 meter reverse circulation program was designed to step along strike and down dip from the Phase 1 drill intercepts in 2020 to expand the shallow, broad, bulk tonnage gold-silver mineralization discovered around and below the Contention pit.
And it is succeeding in doing that in a big way.
The first holes out in Summer 2021 intersected significant gold and silver mineralization resulting in an extension of the mineralized zones at-depth and along strike below and west of the Contention open pit. Significant intercepts include:
5.7 grams per tonne (g/t) gold and 40.5 g/t silver (or 6.28 g/t gold equivalent “AuEq”) over 32 meters
1.39 grams per tonne (g/t) gold and 56.4 g/t silver (or 2.2 g/t gold equivalent “AuEq”) over 96 meters
A key takeaway from the current drilling is the bottoming in mineralization. That means, in all likelihood, mineralization continues at depth, which is something the Aztec team will be keen to explore in upcoming drill rounds.
Will Aztec follow in the 2,300% footsteps of Arizona Mining?
We will find out soon!
Second Kick: Cervantes
Aztec’s second property is also being explored this year, generating additional newsflow and catalysts.
Cervantes is an extremely large, 3,649 hectare project in Sonora, Mexico, where it has made a recent gold-copper porphyry discovery.Aztec Cervantes
The property is 60 kilometers west of Alamos Gold’s Mulatos Gold Mine and 50 kilometers west of Agnico Eagle’s La India Gold Mine. It’s on private land with road access, water wells, and grid power.
Initial results hit 0.77 grams per tonne gold over 160 meters and 0.71 gpt over 139 meters. And there are multiple prospective mineralized zones related to porphyries and breccias along a six kilometer corridor.
There are distinct magnetic, radiometric, and IP chargeability anomalies at the California target — where gold outcrops at surface and channel samples have shown <0.47 grams per tonne gold over 222 meters.
Aztec has earned in to 65% of the project from Kootenay Silver, and the pair now operate it as a joint venture.
A Phase 1 drill program completed 2,674 metres in 17 core holes mainly at the California target. Gold and copper were discovered in 14 drill holes over long and consistent intervals, including:
160m @ 0.77 gpt gold incl 80m @ 1.04 gpt gold, 0.11% copper in 18CER010
139m @0.71 gpt gold incl 20m @ 2.1 gpt gold, 0.16% copper in 17CER005
118m @ 0.63 gpt gold incl 43m @ 1.18 gpt gold, 0.16% copper in 17CER003
122m @ 0.60 gpt gold incl 62m @ 0.88 gpt gold, 0.06% copper in 18CER007
170m @ 0.42 gpt gold incl 32m @ 0.87 gpt gold, 0.06% copper in 18CER006
A follow-up program is being planned to expand the California target laterally and to depth and to evaluate additional high priority gold targets.
Aztec Minerals has many exciting catalysts ahead given all the upcoming exploration.
Here to tell us more about them is CEO and President Simon Dyakowski.
Hunting for Gold-Copper Elephants in North America
Interview with Aztec Minerals (TSX-V: AZT)(OTC: AZZTF) CEO Simon Dyakowski
Drilling Underway
Why You Need to Check Out Aztec Minerals Now
Drilling Underway
Why You Need to Check Out Aztec Minerals Now
Aztec Minerals (TSX-V: AZT)(OTC: AZZTF) has 59.1 million shares outstanding with 14% of them held by insiders and 20% of them closely held.
Those shares currently trade below US$0.30, giving it a tiny market capitalization below US$15 million.
Remember, Arizona Metals made a discovery nearby at this stage in its lifecycle… and ultimately went on to get bought out for$1.8 BILLION.
To give you some sense of what opportunities like this can turn into upon successful drilling… that is some 120X higher than Aztec Minerals currently trades.
Aztec has a proven team with a clean share structure and multiple projects with many catalysts ahead.
Q3 2021:
Tombstone – Results and interpretation of Phase 2 RC drilling program testing shallow epithermal gold-silver mineralization
Cervantes – Plan and permit a substantial phase 1 RC drilling program on the California and Purisma targets
Q4 2021 – Q1 2022:
Tombstone – Phase 3 Core Drill program to target deeper epithermal gold-silver mineralization below the Contention pit and deep CRD silver-lead-zinc-copper-gold mineralization in Paleozoic limestones underlying the Bisbee Sediments
Cervantes – Phase 2 RC drilling program on the California, California Norte, Jasper and Purisima East targets
With targets on each wide open for expansion…
You’ll want to take a deeper look at Aztec Minerals now.
— Resource Stock Digest Research
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