Aztec Commences Step-Out Drilling Program at Tombstone Project, Tombstone Gold-Silver Mining District, Arizona
PO Box 55 T: 604-685-9770
Suite 1030 – 505 Burrard Street www.aztecminerals.com
Vancouver, BC V7X 1M5
Aztec Commences Step-Out Drilling Program at Tombstone Project,
Tombstone Gold-Silver Mining District, Arizona
Vancouver, Canada – October 1, 2024 - Aztec Minerals Corp. (AZT: TSX-V, OTCQB: AZZTF) (“Aztec” or the
“Company”) announces that reverse circulation (RC) drilling has commenced at its Tombstone project
covering much of the historic Tombstone gold-silver district located in Cochise County, Arizona. The step-
out drilling program underway is targeting shallow zones identified as prospective for high -grade oxide
gold-silver mineralization associated with recently completed surface exploration results and 3D
geological modelling.
The primary objectives of the drilling program are to : Expand the known mineralization horizontally and
down dip to the west beyond the holes drilled by Aztec in 2020-23 at the Contention Pit with step outs to
enlarge the shallow, broad, bulk tonnage gold-silver mineralization discovered there. And, to explore new
targets identified in the Westside area that were identified from the results of the 2024 surface
exploration and research program which provided essential geological information to support the follow
up exploration drilling program. The program is designed to focus on targeting the following zones and
styles of high-grade oxide gold and silver mineralization:
A. Contention Zone - The drill holes collared around the Contention Pit will continue to be drilled
with the same systematic orientation pattern as before with inclined drill holes designed to cross
the mostly North-Northeast trending, steeply west dipping quartz porphyry dikes and associated
breccias and structures at a perpendicular orientation to best identify their true thickness.
B. The Westside Area – This portion of the drill program will test multiple mineralized structures of
known, historic underground production and surface reconnaissance work including the Westside
anticline, Westside fissure, Arizona Queen anticline and the Sulphuret dike-Arizona Queen fissure
intersection.
C. Additional Westside Area Structures - The Westside area has other mineralized structures
including but not limited to the Ingersol anticline, Boss dike, Tribute fissure, Tribute dike and the
B&B anticline.
The intersections of these mineralized structures can have large vertical extents, such as for the Westside
fissure with the Westside anticline mined for 240m vertically and the Westside anticline with the Arizona
Queen fissure with over 200m extent vertically. The Westside fissure and the Sulphuret stope were noted
historically for strong, average silver and gold grades.
Figure 1: Tombstone 2024 RC Drilling Plan
Aztec Minerals will be participating in the following upcoming events and conferences:
October 16-17: Red Cloud Fall Mining Showcase, Toronto ON
Conference information & registration: https://redcloudfs.com/fallminingshowcase2024/
October 30th: Aztec Minerals Webinar with Red Cloud
Aztec will be presenting at 11am pdt on Wednesday, October 30th
Registration Link: https://redcloudfs.com/events/rcwebinar-azt/
November 7-8: Forum ONE, Munich DE
Conference information: https://forum-1.com/en/registration
November 11-12: Precious Metals Summit, Zurich CH
Conference information: https://precioussummit.com/event/2024-precious-metals-summit-zurich/
Tombstone Project Overview
Aztec holds a 77.7% 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 2024 drill program is to continue testing the shallow, bulk tonnage, potentially
heap leachable, mesothermal gold-silver oxide mineralization adjacent and below the previously mined
Contention pit by step-out drilling. Future drilling is expected to focus on strike and dip extensions of
the shallow oxide mineralization, and move deepe r to test for larger, deeper “Taylor -type” lead-zinc-
silver CRD targets along and adjacent to the Contention structure.
The Tombstone project is located 100 kilometers (km) southeast of Tucson, Arizona and covers much of
the historic Tombstone silver district. Tombstone is renowned for its high grade, oxidized, silver -gold
mesothermal stringer lode veins, hydrothermal brec cias and manto CRD orebodies that were mined in
the late 1800’s and early 1900’s. The historic silver production in the Tombstone district from 1878 to
1939 was estimated at 32 million ounces and 250,000 ounces of gold1.
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 Bisbee is underlain by approximately
two kms thick of the same Paleozoic carbonate formations that host the 110 MT Hermosa -Taylor zinc-
lead-silver deposit of South32 located 60 km southwest of Tombstone2.
Aztec believes that the historic silver mines at Tombstone could be related to much larger mesothermal
and CRD mineralization below the old mines. Since 2017, Aztec has completed geological mapping,
geochemical sampling and geophysical surveying to identify the most prospective areas for Au -Ag
mineralization around and below the Contention open pit, and CRD zinc -lead-copper-silver-gold
mineralization below the entire district. Aztec management views the district as highly prospective for
the discovery of mesothermal and CRD mineralization.
Note: Gold equivalents are calculated using a 80:1 silver:gold ratio in 2020, 2023 and 2024, and a 70:1
silver:gold ratio in 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 and hydrothermal breccias. However, these dikes also extend as sills in shallow
angles out from the Contention fault along fold noses in the Bisbee clastic sediments so the full range of
mineralization dips vary from 20 to 80 degrees. True widths for the apparent mineralization intersection
widths of the drill holes approximately range from 50 to 100% of the apparent widths, with the norm for
1 Greeley, Michael N., A Brief History and Review of Ore Grades and Production in the Tombstone Mining District
with Emphasis on the Contention Mine Area, June 1984
2 M3 Engineering and Technology Corp., Hermosa Project N.I. 43-101F1 Pre-Feasibility Study, January 2014
the mineralized true widths being 60 to 90% of the apparent widths. Please see summary news releases
dated: July 5, 2023, December 7, 2021, and January 12, 2021.
Summary Tombstone Project Highlights
• Well located property on 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, power
• Historic silver district produced 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 -23 has demonstrated that the Contention Pit target has significant,
shallow. oxidized Au-Ag bulk tonnage mineralization which is open in all directions
• Multiple other prospective target s 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 1.52m from a zone of 733.9 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 in sertions of certified standards, blanks and
sample duplicates. The samples are being regularly shipped to and received by the Bureau Veritas
Minerals laboratory in Hermosillo, Mexico for geochemical analysis.
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.
*Aztec has not verified these historic drill results and is not relying on them. Aztec has in its possession
the historic drill logs, maps and reports but does not have any information on the quality assurance or
quality control measures taken in connection with these historical exploration results.
Allen David Heyl, B.Sc., CPG., VP Exploration of Aztec, is the Qualified Person under NI43-101, supervised
the Tombstone exploration programs. Mr. Heyl has reviewed and approved the technical disclosures in
this news release.
“Simon Dyakowski”
Simon Dyakowski, Chief Executive Officer
Aztec Minerals Corp.
About Aztec Minerals – Aztec is a mineral exploration company focused on two emerging discoveries in
North America. The Cervantes project is an emerging porphyry gold-copper discovery in Sonora, Mexico.
The Tombstone project is an emerging gold-silver discovery with high grade CRD silver-lead-zinc potential
in southern Arizona. Aztec’s shares trade on the TSX -V stock exchange (symbol AZT) and on the OTCQB
(symbol AZZTF).
Contact Information - For more information, please contact:
Simon Dyakowski, President & CEO, Director
Tel: (604) 685-9770
Fax: (604) 685-9744
Email: [email protected]
Website: www.aztecminerals.com
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibilit y for
the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved
or disapproved the information contained herein.
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 Tombstone Project,
drill and sampling results including additional potential work and results therefrom, the Company’s plans for its Tombstone
Project, potential for further expansi on of the mineralization at the Tombstone Project, expected results and outcomes, the
technical, financial and business prospects of the Company, its project and other matters . All statements in this news release,
other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-
looking statements. Although the Company believes the expectations expressed in such forward -looking statements are based
on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially
from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding
present and future business strategies and the environment in which the Company will operate in the future, including the price
of metals, the ability to achieve its goals, that general business and economic conditions will not change i n a material adverse
manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects
the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and
uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost
estimates and the potential for unexpected costs and expenses, and those filed under the Company’s profile on SEDAR+ at
www.sedarplus.ca. Factors that could cause actual results to differ materially from those in forward looking statements include,
but are not limited to, continued availability of capital and financing and general economic, market or bu siness conditions,
adverse weather or climate conditions, failure to maintain or obtain all necessary government permits, approvals and
authorizations, failure to obtain or maintain community acceptance (including First Nations), decrease in the price of gold, silver
and other metals, increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company
does not undertake to update forward-looking statements or forward-looking information, except as required by law.