Aztec Intersects 0.60 gpt AuEq over 114.3m, continuing the expansion of the Shallow Footprint of the Broad, Oxide Gold-Silver Contention Zone, in 2024 Drill Program at the Tombstone Property, Arizona USA
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Vancouver, BC V7X 1M5
Aztec Intersects 0.60 gpt AuEq over 114.3m, continuing the expansion
of the Shallow Footprint of the Broad, Oxide Gold-Silver Contention
Zone, in 2024 Drill Program at the Tombstone Property, Arizona USA
• DH TR24-05 intersected 0.60 gpt AuEq over 114.3 m (0.39 gpt Au & 16.61
gpt Ag); including 1.99 gpt AuEq over 10.7m (1.55 gpt Au & 34.6 gpt Ag)
• 15 RC holes have now been drilled with additional results pending release
over the next several weeks
• The 2024 drill program continues to test step out and first pass targets
primarily west of the historic Contention Open pit target zone
Vancouver, Canada – December 23, 2024 - Aztec Minerals Corp. (AZT: TSX-V, OTCQB: AZZTF) (“Aztec” or
the “ Company”) announces that the ongoing 2024 drilling program at the Tombstone Property in
Southeastern Arizona has further intersected broad gold-silver oxide mineralized zones in its subsequent
step out RC drill holes in the Contention Open Pit target area. Results for hole TR24-05 intersected 114.3
m at 0.60 gpt AuEq (0.39 gpt Au and 16.61 gpt Ag); including 10.7 m at 1.99 gpt AuEq (1.55 gpt Au and
34.6 gpt Ag). Hole TR24-03 intersected 0.23 gpt Au and 10.43 gpt Ag (0.36 gpt AuEq) over 35.1m and 0.33
gpt Au and 9.8 gpt Ag (0.45 gpt AuEq) over 88.4m, and hole TR24-04 intersected 0.24 gpt Au and 15.58
gpt Ag (0.38 gpt AuEq) over 123.5m including 6.1m of 1.74 gpt Au and 54.75 gpt Ag (2.42 gpt AuEq).
The Contention area step-out drill holes have targeted shallow zones, associated with recently completed
surface exploration and 3D geological modelling, prospective for wide oxide gold-silver mineralization.
The 2024 RC drilling program has now completed 15 RC drill holes of Contention area step out targets and
Westside Area first pass targets (see Figure 1. below), with results from the first 5 holes now announced.
Visual observations of the drilled sample material s and initial assay results continues to validate Aztec’s
geological exploration model.
Initial Drilling Highlights:
• Hole TR24-03 - 0.23 gpt Au and 1 0.43 gpt Ag (0.36 gpt AuEq) over 35.1m, and 0.33 gpt Au and
9.8 gpt Ag (0.45 gpt AuEq) over 88.4m including 9.1m grading 1.67 gpt Au and 20.43 gpt Ag (1.92
gpt AuEq). The hole was oriented azimuth 105, -60, and was designed to test for westerly and
down dip extensions of mineralization under the Contention pit west wall and to depth. Two
mine tunnels were intercepted. 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. The
drill hole had to be abandoned due to caving.
• Hole TR24 -04 - 0.24 gpt Au and 15.58 gpt Ag (0. 38 gpt AuEq) over 123.5m, ending in
mineralization and including 6.1m grading 1.74 gpt Au and 54.75 gpt Ag ( 2.42 gpt AuEq). The
hole was oriented vertically (azimuth 0, -90) and was designed to test under the Contention pit
and for down dip extensions of mineralization under the Contention pit east wall and to depth.
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 5% oxidized pyrite sites.
• Hole TR24-05 – 0.39 gpt Au and 16.61 gpt Ag (0.60 gpt AuEq) over 114.3 m and including 10.7 m
at 1.55 gpt Au and 34.6 gpt Ag (1.99 gpt AuEq). The hole was oriented azimuth 105, -60, and was
designed to test for westerly and down dip extensions of mineralization under the Contention
pit west wall and to depth. 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 5% oxidized pyrite sites.
View drill sections here:
Link to section view hole TR24-03
Link to section view hole TR 24-04
Link to section view hole TR 24-05
Figure 1: Tombstone 2024 RC Drilling Plan Completed to Date
The primary objectives of the drilling program are to: Expand the known mineralization horizontally to the
west 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.
The initial seven RC holes 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 . To date, TR24-07 is the
deepest hole drilled , has an inclination of -60 degrees and was drilled to a depth of 256.1 m (221.7 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.
The following is a summary tabulation of all 2024 drill hole results
Table 1:
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
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
Aztec holds a 77.7% interest in the Tombstone property, which includes the majority of the original main
mining district. 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 will continue the testing of the Contention target zone and
then the complete 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:
January 17-18, 2025: Metals Investor Forum – Vancouver, BC
Registration Link: https://metalsinvestorforum.com/conferences/metals-investor-forum-january-2025/
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-
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
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
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 insertions 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 t he 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 in 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 business 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.