Aztec Discovers Significant Silver-Gold Mineralization, intersecting 85.4m of 47.31 gpt Silver Equivalent (AgEq), including 24.4m of 106.3 gpt AgEq, in First Pass Drilling of Westside Target Area at Tombstone Property, Arizona USA
PO Box 55 T: 604-685-9770
Suite 1030 – 505 Burrard Street www.aztecminerals.com
Vancouver, BC V7X 1M5
Aztec Discovers Significant Silver-Gold Mineralization, intersecting
85.4m of 47.31 gpt Silver Equivalent (AgEq), including 24.4m of 106.3
gpt AgEq, in First Pass Drilling of Westside Target Area at Tombstone
Property, Arizona USA
• Drillhole TR24-13 intersected 24.4m of 106.24 gpt AgEq within a broader
zone of 85.4m averaging 47.31 gpt AgEq at shallow depth
• Several drillholes in the first pass test of the Westside Target Area
confirmed significant Silver-Gold oxide mineralization intersections for the
geologically diverse, modeled targets
• The Westside Target Area demonstrates potential for shallow Silver-Gold
oxide mineralization similar to that of the adjacent Contention Target Area
• Additional assays pending release including results from additional
Westside Area and Contention Southern Extension Target Areas
Vancouver, Canada – January 22, 2025 - Aztec Minerals Corp. (AZT: TSX -V, OTCQB: AZZTF) (“Aztec” or
the “Company”) announces initial results from first pass drilling at the Westside Target Area of the 2024
drilling program at the Tombstone Property in Southeastern Arizona.
West Side Target First Pass Drilling Highlights:
• TR24-13 intersected 33.5m of 22.05 gpt AgEq (0.11 gpt Au and 13.06 gpt Ag) and then 85.4m of
47.31 gpt AgEq (0.281 gpt Au and 24.79 gpt Ag) including 24.4m of 106.24 gpt AgEq (0.59 gpt Au
and 59.16 gpt Ag)
• TR24-8 intersected 6.1 m at 105.1 gpt AgEq (1.23 gpt Au and 7.0 gpt Ag) and then 21.3m at 38.75
gpt AgEq (0.35 gpt Au and 10.6 gpt Ag)
• TR24-11 intersected 25.9m at 32.47 gpt AgEq (0.05 gpt Au and 28.56 gpt Ag)
Westside Target Area Initial Results
The Westside target area’s first pass exploration drilling program has encountered oxide silver -gold
mineralization in every drillhole to date, nearly doubling the area of drill demonstrated exploration
potential from the Contention pit target area alone. The geologic modeling for the Westside target area
was successful with blind targeting and confirmed the historic reporting of underground mine workings
as well as Aztec’s modeling.
Notably, TR24-13 in the Westside anticline demonstrates that anticlines in the target area can host
significant oxide silver-gold mineralization, vertically in multiple zones , across the Bisbee sedimentary
section without the immediate presence of Qfp intrusive dikes . In addition, the presence of the historic
Sulphuret stope was confirmed . The mineralization and presence of the Arizona Queen anticline was
confirmed TR24-08.
Drill holes TR24-11 and TR24-12 tested for the Westside Fissure, confirmed the historic reporting , and
found widths of 16 to 25 meters of bulk tonnage grade oxide Silver-Gold mineralization surrounding the
high-grade fissure. The Westside target area exploration drilling results warrant additional drilling.
An important discovery from the Westside target area was the change in precious metal Tenor (the
proportions/ratios for metals to each other) to more silver enriched compared to the Contention open
pit target area being more gold enriched . The Westside area is more dominated by sedimentary rocks,
less than 5% Qfp intrusive dikes by observed volumes, while the Contention area has ~10% Qfp intrusive
dikes by observed volumes.
Recent exploration, and geologic modeling in 2024, identified the features that were drill tested for the
first time. The first pass drill results prov ide significant evidence for potential bulk mineable and
underground mineralization in the area that was slated for open pit production in the early 1980s.
Detailed Drillhole Summary Highlights (see Table 1 below):
• Hole TR24-08 – 1.23 gpt Au and 7.0 gpt Ag (105.1 gpt AgEq) over 6.1 m and then 0.35 gpt Au and
10.6 gpt Ag (38.75 gpt AgEq) over 21.3m. The hole was oriented azimuth 90, -80, and was
designed to test for mineralization in the postulated easterly extension of the anticline (Arizona
Queen) found in the mine workings near the Westside shaft No.1 and considered the focus for
the Last Chance stope. The interval is composed of siliciously and argillically altered, lower Bisbee
group fine-grained sandstones/quartzites, siltstones/hornfels cut by hydrothermal breccias and
faults/fissures with quartz veining. Moderate to strong iron oxides, manganese oxides, orange to
red color, and 1 to 10% oxidized pyrite sites.
• Hole TR24-09 - 0.09 gpt Au and 23.01 gpt Ag (30.13 gpt AgEq) over 10.7m. A total of eight zones
of oxide silver -gold mineralization were encountered. Intersected widths were from 1.52 to
10.7m. The hole was oriented azimuth 230, -75, and was designed to test for down section
extensions of mineralization in the Westside anticline. The interval is composed of siliciously and
argillically altered, lower Bisbee group fine-grained sandstones/quartzites, siltstones/hornfels cut
by hydrothermal breccias and faults/fissures with quartz veining. Moderate to strong iron oxides,
manganese oxides, orange to red color, and 1 to 10% oxidized pyrite sites.
• Hole TR24 -11 - 0.05 gpt Au and 28.56 gpt Ag ( 32.46 gpt A gEq) over 25.9m, the intersection
includes 4.6 m of historic mine workings with no recovery and thus a dilution of the calculated
grades. The hole was designed to test the Westside Fissure near the Westside No.1 shaft along
the Arizona Queen Anticline, below mapped historic mine workings. The drillhole intersected
a zone of mineralization with the mine workings, open down dip to the east and on strike to the
southwest. The interval is composed of siliciously and argillically altered, lower Bisbee group fine-
grained sandstones/quartzites, siltstones/hornfels cut by quartz -feldspar porphyry dikes ,
hydrothermal breccias and faults/fissures with quartz veining. Moderate to strong iron oxides,
manganese oxides, orange to red color, and 1 to 10% oxidized pyrite sites.
• Hole TR24 -12 - 0.09 gpt Au and 19.24 gpt Ag ( 26.48 gpt AgEq) over 16.7m, the intersection
includes 1.5 m of historic mine workings with no recovery and thus a dilution of the calculated
grades. The hole was designed to test the Westside Fissure near the Westside No. 3 shaft, in a
waste block of mapped historic mine workings. The drillhole intersected a zone of
mineralization with the mine workings, open down dip to the east and on strike to the
northeast. The interval is composed of siliciously and argillically altered, lower Bisbee group fine-
grained sandstones/quartzites, siltstones/hornfels cut by quartz -feldspar porphyry dikes,
hydrothermal breccias and faults/fissures with quartz veining. Moderate t o strong iron oxides,
manganese oxides, orange to red color, and 1 to 10% oxidized pyrite sites.
• Hole TR24-13 - 0.11 gpt Au and 13.06 gpt Ag (22.05 gpt AgEq) over 33.5m, and then 0.281 gpt
Au and 24.79 gpt Ag (47.31 gpt AgEq) over 85.4m including 0.588 gpt Au and 59.16 gpt Ag
(106.24 gpt AgEq) over 24.4m. The intersection includes 1.0 m of historic mine workings of the
Sulphuret stope with no recovery and thus a dilution of the calculated grades. The hole was
designed to test the Westside anticline and the historic Sulphuret stope . The drillhole
intersected a vertically broad pair of mineralization zones in the anticline, open down dip to the
east and on strike to the northeast and southwest. The drillhole was designed to serve as a
precollar for future testing at depth historic drilled sulfide CRD mineralization and the casing was
left in the hole. The interval is composed of siliciously and argillically altered, lower Bisbee group
fine-grained sandstones/quartzites, siltstones/hornfels cut by hydrothermal breccias and
faults/fissures with quartz veining. Moderate to strong iron oxides, manganese oxides, orange to
red color, and 1 to 10% oxidized pyrite sites.
View drill sections here:
Link to section view hole TR24-08
Link to section view hole TR 24-11
Link to section view hole TR 24-13
Figure 1: Tombstone 2024 RC Drilling Plan Completed to Date
2024 RC Drilling Program
The drilling program targeted shallow zones, associated with recently completed surface exploration and
3D geological modelling, prospective for wide oxide gold -silver mineralization. The drilling program has
completed 17 RC drill holes (3,100m) testing both Contention area step out targets and Westside Area
first pass targets (see Figures 1, 2 below), with results from the first 13 holes now announced. Visual
observations of the drilled sample materials and initial assay results continue to validate the potential
bulk mineable oxide gold-silver geological setting as outlined in Aztec’s geological exploration model.
The primary objectives of the drilling program were to: Expand the known mineralization horizontally to
the west, north and south, and down dip 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 also, to explore with first pass drilling new targets identified in the Westside area.
Figure 2: Tombstone Westside Target Area Detail Drilling Plan Completed to Date
Ten of the RC holes in the program were drilled as part of a “ fan grid pattern” being drilled in the
Contention area since 2020. The subsequent RC drill holes are to test for extensions on the western and
eastern borders and also underneath of the north-trending main Contention target zone which hosts the
historic underground and open pit Contention mine. The drill program continues to identify pervasively
oxidized and hematite -rich, silicified hydrothermal breccias composed of quartz feldspar porphyry dike
and Bisbee Group clastic sedimentary fragments, typical of the material mined historically at the
Contention Mine.
Additional mineralization types continue to be outlined by the current drilling including : manganese
replacements in limestone beds and skarns, quartz veinlets, sulfide relicts as disseminations, silicification
of altered hornfels, quartz feldspar porphyries and hydrothermal breccias . For the program, TR24-16 is
the deepest hole drilled, has an inclination of -60 degrees and was drilled to a depth of 265.3 m (229.7 m
vertical) remaining in mineralized and oxidized rocks the majority of its length.
The initial drilling results show that the Contention area mineralization is still open to the west and to
depth and the mineralized volume is expanding.
Table 1 – Westside Target First Pass Drill Results:
Drill Hole From m To m Interval m* Au gpt Ag gpt Ag Eq gpt (1) Comments
TR24-08 0 12.2 12.2 0.167 11.0 24.33 Historic open pit
dumps
32.0 38.1 6.1 1.226 7.0 105.1
109.7 131.0 21.3 0.352 10.59 38.75
TR24-09 32.0 35.0 3.04 0.314 11.45 36.57
45.7 48.8 3.04 0.286 9.35 32.23
70.1 80.8 10.7 0.089 23.01 30.13
86.9 91.5 4.6 0.064 6.07 11.21
103.7 106.7 3.04 0.096 9.85 17.53
TR24-11 45.7 71.6 25.9 0.049 28.56 32.47
Includes 4.6m of
historic workings
dilution
TR24-12 22.8 32.0 9.1 0.111 5.80 14.67
94.5 111.3 16.7 0.091 19.24 26.48
Includes 1.0m of
historic workings
dilution
TR24-13 0 33.5 33.5 0.112 13.06 22.05
79.2 164.6 85.4 0.281 24.79 47.31
Includes 1.0m of
historic workings
dilution
Including: 91.4 115.8 24.4 0.588 59.16 106.34
Table 2 – Contention Zone Drill Results:
Drill Hole From m To m Interval m* Au gpt Ag gpt Au Eq gpt (1) Comments
TR24-01 54.9 158.5 103.6 0.59 12.48 0.75
Including: 114.3 129.6 15.3 2.843 21.42 3.11
114.3 117.4 3.1 10.63 35.10 11.06
TR24-02 51.8 201.2 149.4 0.193 8.34 0.30
Including: 59.5 67.1 7.6 1.645 12.16 1.80
TR24-03 36.6 71.6 35.1 0.23 10.43 0.36 Two tunnels at
79.3 167.7 88.4 0.33 9.8 0.45 135.7m and
Including: 134.1 143.3 9.1 1.67 20.43 1.92 167.7m
TR24-04 0 123.5 123.5 0.24 11.58 0.38
Including: 4.6 10.7 6.1 1.74 54.75 2.42
TR24-05 94.5 208.8 114.3 0.39 16.61 0.60
Including: 134.1 144.8 10.7 1.55 34.6 1.99
TR24-06 77.7 123.4 45.7 0.39 13.46 0.56
169.2 208.8 39.6 0.14 6.82 0.22
TR24-07 80.8 227.1 146.3 0.21 14.12 0.39
Including: 166.1 179.8 13.7 1.22 57.61 1.94
TR24-10 16.7 104.9 88.2 0.67 27.64 1.02
Including: 41.0 50.2 9.2 4.23 136.17 5.93
and: 138.3 164.1 25.8 0.05 4.96 0.11
Table 3 – Drillhole Coordinates
Drill Hole UTM East UTM North Azimuth Inclination Total Depth M
TR24-01 588710 3507755 105 60 175.3
TR24-02 588700 3507828 105 60 201.2
TR24-03 588692 3507881 105 60 173.8
TR24-04 588870 3507798 0 90 134.1
TR24-05 588726 3507982 105 60 213.4
TR24-06 588828 3508060 85 60 213.4
TR24-07 588750 3508021 105 66 256
TR24-10 588851 3507899 0 90 182.9
TR24-11 588294 3508188 315 70 122
TR24-12 588395 3508269 315 62 135.7
TR24-13 588663 3508034 45 85 184.4
The main target of the current RC drill program is to test for shallow, bulk tonnage, heap leachable,
mesothermal gold-silver oxide mineralization adjacent and below the previously mined Contention pit.
The current drilling program is testing the Contention target zone and includes Aztec’s first drilling in the
Westside target zone which is comprised of several demonstrated mineralization focusing structures –
anticlines, quartz stringer fissure lodes, and quartz feldspar porphyry dikes.
Future drilling is expected to focus on extensions of the shallow oxide mineralization already tested, as
well as larger, deeper “Taylor-type” CRD targets along and adjacent to the Contention structures.
Aztec Minerals will be participating in the following upcoming events and conferences:
February 21-23, 2025: CEM Whistler Capital Event – Whistler, BC
Registration Link: https://cem.ca/conference/whistler-capital-event-2025/
February 27-28, 2025: Pre-PDAC 2025 Mining Showcase – Toronto, ON
Registration Link: https://redcloudfs.com/prepdac2025/
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 a much larger mesothermal
system with 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.
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