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Confirms Wide High-
Grade Gold and Silver Oxide Mineralization on SurfaceField work and sampling are providing key assay results to expand the wide mineralized zone to surface and along strike
Additional continuous chip channel and reconnaissance sample assay results are pending
News Release -
Highlights:
Initial Contention zone channel sampling results further demonstrate the presence ofnear-surface, broad, high-grade gold and silver mineralizationconfirming Aztec’s drilling from 2020 to 2023.
Select channel line interval highlights include:
Line B4: 30.2 meters averaging 3.72 gpt Au and 167.93 gpt Ag (5.82 gpt AuEq using an 80:1 silver-gold ratio) including 6 meters of 13.15 gpt Au and 602.67 gpt Ag (20.68 gpt AuEq)
Line G1: 50.0 meters at 0.827 gpt Au and 54.08 gpt Ag (1.50 gpt AuEq)
Line C1: 42.3 meters at 0.46 gpt Au and 47.27 gpt Ag (1.05 gpt AuEq)
Preliminary results provide a roadmap for additional potential mineralization footprint expansion drilling on the western portion of the
Contention Pit , aiming to discover new mineralized gold and silver zones.Additional continuous chip channel and reconnaissance sample assay results are pending.This high-priority target area was historically reported as a target for open pit mining expansion by previous operators. (see Figure 1).
The mesothermal mineralization geological setting indicates a high potential for further discovery of wide oxide Gold Silver along strike and down dip of prospective hosting rocks outcropping in the
Contention Pit areas (see Figure 2)Attractive, wide, gold and silver oxidized mineralization supports ongoing geological modelling targeting a potential bulk style of mineralization at the Contention
Pit Area in theTombstone Project
Figure 1:
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The high-grade gold-silver sample results are located immediately adjacent to the Westside target area and indicate the strong potential to expand into multiple zones of broad Au-Ag oxide mineralization to the west.
The initial results of the Channel Sampling Program, Lot 1, illustrated in Table 1, supports the presence of broad, mesothermal, gold and silver oxidized mineralization and suggests the potential for further expansion of the mineralization footprint in the host formations down dip and along strike, also demonstrating the potential extensions towards the west of the historical
Table 1: Initial Tombstone Contention Pit Channel Sampling Lot 1 Results* | ||||||||
Area | Line | Line Length | Avg Au gpt | Avg Ag gpt | Avg AuEq gpt | |||
B3 | 17.3 m | 0.19 | 19.78 | 0.38 | ||||
B4 | 30.2 m | 3.72 | 167.93 | 5.82 | ||||
C1 | 42.3 m | 0.46 | 47.27 | 1.05 | ||||
C2 | 34.0 m | 0.25 | 27.08 | 0.58 | ||||
C3 | 26.0 m | 0.09 | 16.08 | 0.30 | ||||
D | 41.8 m | 0.15 | 6.63 | 0.23 | ||||
North End Main Pit E Wall | F | 130.0 m | 0.16 | 6.89 | 0.25 | |||
G1 | 50.1 m | 0.83 | 54.08 | 1.50 | ||||
J1 | 10.0 m | 0.53 | 13.35 | 0.69 | ||||
J2 | 38.0 m | 0.17 | 15.63 | 0.37 | ||||
gpt = grams per tonne |
*Note the Table 1 results are weighted
2024 Exploration Program:
Aztec collected and analyzed (482) rock chip channel and reconnaissance samples for multi-elements including 422 mine-cut chip channel samples of 2 meters length each from the Contention pit with accessible, visible coloration and/or alteration and 60 outcrop and waste rock storage site reconnaissance composite and select samples over the rest of the project, including the Westside area, to expand and enhance geochemical and geological knowledge throughout the
Aztec’s recent geological mapping at detailed scale (1:200) within the Contention pit and at reconnaissance scale (1:2,000) over the surrounding property has identified attractive mesothermal broad oxidized new mineralized zones. In the Contention pit mapping, recentdetailed lithological, structural and alteration mapping is proving crucial for definition of the extensions towards the Westside area.
Project data evaluation also continues to advance including the 3D modeling of the historic mine workings, drilling and geologic data. Modeling the geochemistry including trends of Au-Ag mineralization will then resume using the understandings gained on the multi-element relationships with Au-Ag, reviewing the subsequent results to the geophysical data and the SWIR-Terraspec data, and other investigations.
Figure 2: Drilling cross section X with Au-Ag intercepts and channel sampling Lines C1 and G1
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The primary objectives of the 2024 surface exploration program are to continue to expand and define the shallow, open pit-table, oxidized gold/silver potential mineralization, and to also develop targeting for the CRD mineralization historically demonstrated to be present at depth.
Figure 3: Line B4 (South-Central Contention pit, East wall) with channel sample locations
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Tombstone Project Overview
Aztec holds a 75% interest in the Tombstone Property Joint Venture, which includes most of the original patented mining claims in the main district as well as some recently acquired properties.
The main target of the 2023 core drill program was to continue testing the shallow, bulk tonnage, heap leachable, mesothermal gold-silver oxide mineralization adjacent and below the previously mined Contention pit by infill and step-out drilling. Core drilling was needed in order to penetrate the multiple historic workings and to acquire critical geological data. Future drilling is expected to focus on strike and dip extensions of the shallow oxide mineralization, and move deeper to test for larger, deeper “Taylor-type” lead-zinc-silver CRD targets along and adjacent to the Contention structure.
The
The district geology consists of a mix of shallow-level, oxidized Au-Ag and base metal deposits related to CRD and skarns hosted in folded and thrusted sediments, intrusive dikes and lode veins, and as well the under explored, sulfide versions located below the water table.
Host rocks to the mineralization are primarily the clastic sediments of the lowest portion of the Cretaceous Bisbee Formation. Between 50 and 300 meters (m) in depth, the
Although the historic silver mines at
Note: Gold equivalents are calculated using a80:1 silver:gold ratio in 2020, 2023 and 2024, and a 70:1 silver:gold ratioin 2021. Reported lengths are apparent widths, not true widths. The Contention Au-Ag mineralization zones are generally west dipping at around 60-80 degrees, associated with the quartz-feldspar porphyry dikes. However, these dikes also extend as sills in shallow angles out from the Contention fault along fold noses in the
Summary Tombstone Project Highlights
Well located propertyon patented (33) and unpatented (42) claims (452.02 hectares/1,116.94 acres), covers much of the historic
Tombstone silver mining district, great infrastructure, local town, road access, full services, water, powerHistoric silver districtproduced 32 million ounces of silver and 250,000 ounces of gold from 1878-1939, in high grade, oxidized, silver-gold-lead-zinc-copper vein, breccia and CRD deposits, and small open pit heap leach production in late 1980’s
Drilling by Aztec in 2020-23has demonstrated that the
Contention Pit target has significant, shallow. oxidized Au-Ag bulk tonnage mineralization which is open in all directionsMultiple other prospective targets in Cretaceous and Paleozoic rocks related to major NW and NNE trending structures hosting porphyritic intrusions crosscutting a possible caldera ring structure
The following are highlights of recent drilling intersections supporting the conceptual exploration model for mineralized footprint growth.
TR21-22: 2.44 gpt Au and 66.56 gpt Ag(3.39 gpt AuEq)over 65.5m (including 16.80 gpt Au and 374.36 gpt Ag over 7.6m)
TR21-03 -5.71 gpt Au and 40.54 gpt Ag (6.28 gpt AuEq) over 32.0m
TC 23-01:3,477 gpt Ag over 1.52mfrom a zone of733.9 gpt Ag over 7.6 m within 125 m of 1.63 gpt AuEq
TR21-10: 1.39 gpt Au and 56.40 gpt Ag(2.20 gpt AuEq) over 96.0m
TR21-13: 1.8 gpt Au and 36.9 gpt Ag(2.33 gpt AuEq) over 70.1 m
TR21-17: 1.73 gpt Au and 56.20 gpt Ag(2.53 gpt AuEq) over 64.0m
TR21-08: 2.09 gpt Au and 47.1 gpt Ag(2.76 gpt AuEq) over 39.6m
Hole TC23–02 – 1.69 gpt gold and 29.07 gpt silver(2.03 gpt gold AuEq) over 45.3 m, including 10.1 m grading 6.63 gpt gold and 72.81 gpt silver (7.49 AuEq)
TC23-05 – 2.816 gpt gold and 176.64 gpt silver(5.02 gpt AuEq) over 36.0 m, including 6.45 gpt gold and 408.47 gpt silver (11.554 gpt AuEq) over 15.5 m
The company uses quality assurance-quality control as part of its sampling-assaying-assessments in conjunction with its exploration sampling programs. Samples and their collection are controlled by an industry standard conforming QAQC program including insertions of certified standards, blanks and sample duplicates. The samples are being regularly shipped to and received by the
Core and RC drilling samples are continuously collected over 5-foot (1.52m) sample intervals from all drill holes. The samples were analyzed for gold with a 30-gram sample size using the fire assay method FA430 followed by multi-element MA300, including silver. Over limits, when present, are analyzed by MA370 or FA530. All holes contain certified blanks, standards, and duplicates as part of the quality control program.
“Simon Dyakowski”
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Contact Information- For more information, please contact:
Tel: (604) 685-9770
Fax: (604) 685-9744
Email: info@aztecminerals.com
Website: www.aztecminerals.com
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Forward-Looking Statements:
This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation,completing ongoing and planned work, statements relating to advancing the
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