Aztec Minerals Reports Results of Phase 1 Exploration Program Tombstone Project, Arizona
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Aztec Minerals Reports Results of Phase 1 Exploration Program
Tombstone Project, Arizona
Vancouver, Canada – November 27, 2018 - Aztec Minerals Corp. (AZT: TSX -V, OTCQB: AZZTF) reports
positive results from its Phase 1 exploration program of structural and geological mapping, rock chip and
trench sampling and airborne geophysical surveying on the Tombstone Project in southern Arizona.
The Tombstone silver mining district produced an estimated 32 million oz silver, 240,000 oz gold, 65
million lb lead and 1.1 million lb zinc from a swarm of shallow, high grade carbonate replacement deposits
(CRDs) and veins during the period 1878 to 1939. Aztec has an option to acquire a 75% interest in most of
the old patented claims constituting the district from Baroyeca Gold and Silver Inc.
The Tombstone district silver-gold-lead CRD’s occur within the Bisbee Group clastic sediments, underlain
by the same Paleozoi c limestones that hosts the massive Taylor zinc -silver-lead CRD deposit of Arizona
Mining Inc. (located only 65 km west of Tombstone). Arizona Mining was recently acquired by South32 by
way of a $1.8 billion friendly takeover bid.
Aztec sees significant exploration potential a t Tombstone for a CRD discovery similar to Taylor. Some
highlights from the Phase 1 exploration program are as follows:
• High grade silver -gold-lead-zinc-copper mineralization was confirmed in and around the main
Contention pit by rock sampling of surface outcrops and prospects, a total of 139 samples, and a
second parallel mineralized zone was identified northwest of the water tank (Tank is west of the
Contention Pit)
• Twelve trenches were cut adjacent to and within the Contention pit using an excavator and
sampled over a cumulative length of 758 meters, a total of 340 samples, several spot high grade
samples were found but no large, low grade, open pittable mineralization was encountered
• A detailed airborne magnetic survey was conducted over the property using a drone operated
magnetometer, confirming the main Cont ention mineralization is associated with a magnetic
multi-phase dike which towards the south is offset by a northwest trending mineralized fault,
other possible northwest trending faults were identified in th e northeast part of the property,
and a second parallel magnetic high (dike?) was detected southeast of the Contention pit
• Structural and geologic mapping were conducted over portions of the property , revealing
promising structural environments for CRD min eralization at depth and a strong association
between altered dykes and mineralization
Rock Sampling Results
In July, Aztec embarked on a comprehensive Phase 1 exploration program that included geologic mapping,
surface rock sampling, trenching, and airborne geophysics over its Tombstone property in southeastern
Arizona, USA. The rock sampling focused on outcrops in and around the historic Contention Pit. Many of
PO Box 10328 T: 604-685-9770
Suite 1130 – 609 Granville Street www.aztecminerals.com
Vancouver, BC V7Y 1G5
the samples are grab or chip in nature , returning high grade silver and gold mineralization along
structures, often associated with altered sediments and porphyry dikes, as follows:
• 32 out of 139 samples (23%) contain greater than 100.0 gpt Ag and 7% (10) greater than 544 gpt
Ag with a high of 3,178 gpt Ag, and a low of <0.5 gpt Ag
• 23 out of 139 samples (17%) greater than 1.0 gpt Au and 8 (6%) greater than 10.0 gpt Au with a
high of 23.5 gpt Au, with a low of <0.005 gpt Au
• 34 out of 139 samples (24%) contain > 1.0% Pb with 7 samples (5%) >5.0% Pb with a high of 14.2%
Pb and a low of 5.0 ppm Pb
• 22 samples out of 139 (16%) contain > 1.0% Zn with 7 samples (5%) > 4.0% Zn with a high of 14.2%
Zn, and a low of 15.0 ppm Zn
• 21 samples out of 139 (15%) contain >0.12% Cu with 6 samples (5%) > 0.5% Cu with a high of
3.63% Cu and a low of 3.0 ppm Cu
Trenching Results
A total of 12 trenches were placed in accessible areas on the edge or within the Contention Pit, although
a few could not reach bedrock due to thick overburden. A total of 9 out of 12 trenches contained sufficient
exposure for channel sampling, culminating in 785 meters of continuous channel sampling for a total of
340 samples. Geochemical values returned low grade gold and silver values with moderately anomalous
lead and zinc.
The trenches exposed new “hot spots” of gold, silver, and base metal mineralization , a significant guide
to our deeper targeting for CRD massive sulphides . Trenches 7 and 8 contain unusually long intervals of
low grade gold and silver such as 56.5 meters of 0.19 gpt Au and 7.8 gpt Ag in Trench 7. Trench 8 and over
its entire length detected 164.0 meters of 0.10 gpt Au and 2.4 gpt Ag with stronger intervals contained
within such as 20.0 meters of 0.21 gpt Au, 7.3 gpt Ag, 1,112 ppm Pb and 1,944 ppm Zn. The pervasive
alteration and intense structures encountered in the mineralized siltstone, sandstone, and limestone from
the trenches is highly informative in developing deeper targets.
Mapping Results
Detailed geologic and structural mapping by a consulting structural geologist reinforces the prospectivity
for deep CRD sulphides. His work strongly supports CRD potential at depth in the underlying Paleozoic
limestones at the intersections of prominent north -northeast dykes and mineralized faults /veins and
southeast plunging anticlines (“rolls”).
Observations in the Contention Pit suggest s ilver-gold mineralization was enhanced where dilation
structures and brecciation of Bisbee Group sediments are in contact with leucocratic dykes. The dilation
structures in the Contention Pit are measurable in the hundreds of meters long and tens of meters wide
with unknown depth extents. Additionally, several mines and prospects containing manganese-rich
chimney’s, mantos, and veins lie outside Aztec’s land position , but they are common indicators of
alteration-mineralization peripheral to CRD deposits.
Airborne Magnetic Survey
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Vancouver, BC V7Y 1G5
A drone operated airborne magnetic survey was completed over the property. The survey was flown at
75 meter line spacing oriented east-west at an altitude of 40 meters with a GEM SSMP-35U sensor flow
under a DJI Matrix 600 Pro hexacopter. The sensor collected 10 readings per second, flying at a speed of
roughly 8 meters/second. The survey data show a prominent high that corresponds to a known late
Cretaceous granodiorite intrusive on the northwest part of the survey and where Precambrian granite
crops out well to the southwest. In the vicinity of the Contention Pit, subtle structures are evident oriented
north-northeast and northwest -southeast. These structures correspond to dyk es and mineralized fault
structures in the north-northeast orientation and anticlines and synclines corresponding to the northwest-
southeast features. Further investigations of the airborne magnetic data and additional filters are
ongoing.
Land
3 new unpatented lode claims were located on open BLM ground adjacent to the patented claim block. A
total of 10.7 hectares (26.5 acres) was covered with the 3 claims.
Quality Control
Joey Wilkins, P.G., is the qualified person (QP) on the project and superv ised the surface sampling. All
surface samples were collected by geologists and placed in polybags, labeled and closed with zip -ties.
Channel sample lengths were between 1.0 and 3.0 meters. Chip and grab samples were generally random
and slightly more bias ed, but often collected from outcrops or historic mine dumps . Samples were kept
under strict supervision until delivered to the laboratory with chain of custody protocol. Certified
standards were inserted into the sample stream and passed QA/QC analysis. Bureau Veritas analyzed the
rock chip samples and ALS-Chemex analyzed the channel samples.
About Aztec Minerals – Aztec is a mineral exploration company focused on the discovery of large precious
metal deposits in the Americas. Our core asset is the prospective Cervantes porphyry gold-copper
property in Sonora, Mexico. We also hold an option on the Tombstone district with both bulk tonnage
epithermal gold-silver as well as high grade CRD silver-lead-zinc deposits in 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:
Neil MacRae, Vice President, Investor Relations
Tel: (604) 685-9770
Fax: (604) 685-9744
Email: [email protected]
Website: www.aztecminerals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility 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 release 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 securit ies legislation. Such
PO Box 10328 T: 604-685-9770
Suite 1130 – 609 Granville Street www.aztecminerals.com
Vancouver, BC V7Y 1G5
forward-looking statements and information herein include but are not limited to statements regarding Aztec’ s anticipated
performance in 2018 and the future, including the exercise of the options on the Cervantes and Tombstone properties, the planned
exploration activities, receipt of assay results from drilling, the completion of further drilling and exploration work, 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 acti vity, performance or achievements of Aztec and its operations to be materially different from 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 min eral exploration, development and mining; the speculative nature of mineral exploration and
development, risks in obtaining necessary licenses and permits, and challenges to the Company’s title to properties.
Forward-looking statements are based on assump tions 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 diffe rent 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 anticipat ed in such statements or information. Accordingly, readers should not
place undue reliance on forward-looking statements or information.