Aztec Minerals Options Historic Tombstone Silver Mining Properties in Arizona
PO Box 10328 T: 604-685-9770
Suite 1130 – 609 Granville Street www.aztecminerals.com
Vancouver, BC V7Y 1G5
Aztec Minerals Options Historic Tombstone Silver Mining Properties in Arizona
Vancouver, Canada – December 18, 2017 - Aztec Minerals Corp. (AZT: TSX -V, OTCQB: AZZTF) (“Aztec”)
announces it has signed an option a greement with Baroyeca Gold & Silver (and its US subsidiaries
Tombstone Gold & Silver Inc. and Tombstone Resources Inc ., collectively “Baroyeca” ) to acquire a 75%
interest in a package of mineral properties (the “ Properties”) containing many of the historic silver
mining properties in the famous Tombstone mining district , Cochise County, Arizona.
http://www.aztecminerals.com/_resources/1-District-Map.jpg
The Properties include the historic Contention Mine and surrounding patented claims totalling 404 acres
(163.5 hectares) with an addit ional 24 acres (9.7 hectares) of unpatented claims .
http://www.aztecminerals.com/_resources/2-Tombstone-Land-and-Mines.jpg. Aztec can acquire the 75%
interest by spending an aggregate of CAD$1,000,000 on exploration , making an aggr egate of
CAD$100,000 in cash payments, and issuing an aggregate of 1,000,000 Aztec common shares to
Baroyeca over a 3 year period, as follows:
Exploration Expenditures Cash Payments Share Issuances
On signing $Nil $10,000 $Nil
Year 1 $50,000 $30,000 100,000
Year 2 $300,000 $30,000 300,000
Year 3 $650,000 $30,000 600,000
Total $1,000,000 $100,000 1,000,000
The Tombs tone Mining District, located 65 miles southeast of Tucson, Arizona and accessed by State
Highway 80, is well known for its high grade, oxidized, carbonate replacement deposits (“CRD”) of silver-
gold-lead mineralization hosted in veins, mantos, pipes and disseminated orebodies. The original silver
discovery was in 1877 and historic production in the district from 1878 to 1939 is reported at 32 million
ounces silver from 1.5 million tons averaging 21.3 ounces per ton, 240,000 ounces gold, 65 million
pounds lead, 2.5 million pounds copper and 1.1 million pounds zinc.
Some of the richest production in the district was from the Grand Central and Contention Mines, both
located on the Baroyeca properties. Historic underground oxide ore grades in the district reportedly
averaged 26 oz per ton (“opT”), equal to 892 grams per tonne (“gpt”), silver, 0.21 opT (7.2 gpt) gold and
2.25% lead. Sporadic underground mining continued until 1980 , when open pit , heap leach mining
commenced at the Contention Pit. The Contention Pit operated until 1985 with two brief attempts to
restart the mine in the late 1980’s and early 1990 ’s. Open pit, heap leach m ine production totaled
around 1.86 million to ns, grading 1.25 opT silver and 0.02 opT gold, for metal production of
approximately 1.1 million oz silver and 20,000 oz gold. Although there are several reports about the
historic production from the district and the Baroyeca Properties, Aztec has not verified these historic
results and is not relying on them. The main source of historical information referred to herein is the
Baroyeca NI 43 -101 report on the Properties by Linda Caron dated August 23, 2011. Historical
PO Box 10328 T: 604-685-9770
Suite 1130 – 609 Granville Street www.aztecminerals.com
Vancouver, BC V7Y 1G5
production grades are not an indication of existing mineral resources or grades of any existing mineral
deposits.
In the 1990’s, the properties underwent two shallow RC drill programs, primarily near the Contention
Pit. USMX drilled 20,040 feet (6,108 meters) in 63 drill holes in 1993 and MPV Capital drilled 6,125 feet
(1,867 meters) in 14 holes in 1994. One of USMX’s better drill intercepts assayed 0.062 opT ( 2.1 gpt)
gold and 1.23 opT 42.2 gpt) silver over 125 feet in length in hole TR8 and on e of MPV’s better drill
intercepts returned 0.176 opT (6.0 gpt) gold and 6.39 opT (219 gpt) silver over 25 feet (7.6 meters).
Although there are several reports about the historic exploration results on the properties, Aztec has not
verified these histori c results and is not relying on them. Aztec does not have any information on the
quality assurance or quality control measures taken in connection with these historical exploration
results, or other exploration or testing details regarding these results.
The option agreement with Baroyeca remains subject to certain conditions precedent, including the
approval of the TSX Venture Exchange.
Aztec Minerals CEO Joey Wilkins commented, “ Tombstone adds a second district -scale exploration
project to our property portfolio. We are acquiring these Tombstone properties because we see an
entire district with a prolif ic history of small scale, high -grade mining and a significant lack of modern
exploration to discover new orebodies. We have identified several shallow oxide and deeper sulphide
precious and base metal exploration targets in the Property, including in and around the Contention Pit.
“We believe t he Baroyeca P roperties have substantial untapped potentia l, especially below the water
table around 600 feet deep, because that is where the oxide ores stopped and sulfide ores could start.
CRD deposits are typically related to granitic intrusions where the source of gold -silver mineralization
could be a porphyry type system. We will take a systematic approach to exploring the properties by
digitizing all histor ic work, evaluating available data on small historic gold -silver deposits, and
completing detailed surface work such as structural and alteration mapping, geochemical sampling and
geophysical surveying followed by drilling.”
Joey Wilkins, B.Sc., P.Geo., is the Qualified Perso n who reviewed the historic data, visited the property
and approved the technical disclosures in this news release.
About Aztec Minerals – Aztec is a mineral exploration c ompany focused on the discovery of large
porphyry gold -copper deposits in the Americas. Our first project and core asset is the prospective
Cervantes gold-copper property in Sonora, Mexico. Aztec’s shares trade on the TSX -V stock exchange
under the symbol AZT and on the OTCQB under the symbol AZZTF.
Contact Information - For more information, please contact:
Neil MacRae, Vice President, Investor Relations
Tel: (604) 685-9770
Fax: (604) 685-9744
Email: [email protected]
Website: www.aztecminerals.com
PO Box 10328 T: 604-685-9770
Suite 1130 – 609 Granville Street www.aztecminerals.com
Vancouver, BC V7Y 1G5
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsi bility 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.
Cautionary Note Regarding Forward-Looking Statements
This news relea se contains “forward -looking statements” within the meaning of the United States Private Securities Litigation
Reform Act of 1995 and “forward -looking information” within the meaning of applicable Canadian securities legislation. Such
forward-looking state ments and information herein include but are not limited to statements regarding Aztec’s anticipated
performance in 2017 and the future, including the exercise of the option on the Tombstone properties, the planned exploration
activities on the Tombstone p roperties and the timing and results of various activities. The Company does not intend to, and
does not assume any obligation to update such forward-looking statements or information, other than as required by applicable
law.
Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause
the actual results, level of activity, performance or achievements of Aztec and its operations to be materially different fro m
those expressed or implied by such statements. Such factors include, among others, changes in national and local governments,
legislation, taxation, controls, regulations and political or economic developments in Canada and the United States ; financial
risks due to precious and base metals prices, operating or technical difficulties in mineral exploration, development and mining
activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration a nd
development, risks in obtaining necessary licenses and permits, and challenges to the Company’s title to properties.
Forward-looking statements are based on assumptions management believes to be reasonabl e, including but not limited to the
continued operation of the Company’s exploration operations, no material adverse change in the market price of commodities,
and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those contained in forward -looking statements or information, there
may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or
intended. There can be no assurance that any forward -looking statements or information will prove to be accurate as actual
results and future events could differ materially from those anticipated in such statements or information. Accordingly, read ers
should not place undue reliance on forward-looking statements or information.