Aztec Reviews Geological Highlights of Phase 1 RC Drill Program from Tombstone Project, Arizona
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Aztec Reviews Geological Highlights of Phase 1 RC Drill Program
from Tombstone Project, Arizona
Vancouver, Canada – January 12, 2021 - Aztec Minerals Corp. (AZT: TSX-V, OTCQB: AZZTF) reviews the
geological highlights of the recently completed Phase 1, reverse circulation (RC) drill program conducted
at the Tombstone project in Southeastern Arizona from August to November 2020.
The Phase 1, 21 -hole, 2,993 meter drill program tested the potential for shallow, broad, bulk tonn age
gold-silver mineralization around and below the Contention open pit and underground mine workings.
The Contention Mine was historically the largest and highest grade silver mine in the Tombstone silver
district (32 million oz past production) in the late 1800’s-early 1900’s. More recent Contention open pit
mining in the early to mid -1980’s focused on gold-silver mineralization to approximately 60m depth
entirely hosted within the Cretaceous Bisbee group sandstones. Most other mines in the di strict were
much smaller veins and mantos hosted within the lower Bisbee and part ially within the underlying
Paleozoic limestones.
Three drill centers, North, Central, and South, were drilled along the Contention open pit in spoke patterns
to minimize the amount of road building and maximize the potential to intersect mineralization. The main
Contention structures that host the mineralization trends north-south and dips vertical to steeply west.
Coherent, widespread gold-silver mineralization associated with narrow, porphyritic felsic dikes was
consistently intersected in 18 of 19 drill holes along the main Contention structure and parallel structures
over an 800 meter strike length. The mineralized structures cut through outcropping Cretaceous Bisbee
sediments to around 200 meters in depth where they cross an unconformity down into the underlying
Paleozoic limestones. As such, management believes the Bisbee sediments and Contention mineralization
are contained within a circular, down-dropped graben fault bounded basin.
View: Tombstone Longitudinal Section and Tombstone 2020 RC Drill Program Plan Map
Higher-grade intervals include 6.18 grams per tonne (gpt) gold and 77.2 g pt silver, or 7.15 g pt gold
equivalent (using an 80:1 silver:gold ratio), over 15.14 metres (m) in hole TR20-09 and 4.18 gpt gold plus
174.2 gpt silver, or 6.36 gpt gold equivalent, over 7.62 m in hole TR20-18.
Thicker mineralized intervals include 140.21 m grading 0.38 g pt gold and 19.3 g pt silver (0.62 gpt gold
equivalent) in hole TR20 -17 and 82.30 m assaying 0.74 g pt gold and 23.8 g pt silver (1.03 g pt gold
equivalent) in hole TR20-20.
The mineralization observed to date is oxidized and epithermal in nature, dominated by quartz -calcite
veins, sheeted stockworks, and breccias associated with pervasive hematite, goethite, and jarosite stained
clays with variable manganese oxides hosted in Cretaceous sandstone s, siltstones, and limestone . The
well altered sediments are frequently adjacent to quartz-feldspar porphyry dykes, a clear association.
Several thin limestone beds within the Bisbee sediments contain minor skarn minerals and elevated to
strong silver-gold values. Replacement-style alteration and mineralization follows limey beds within the
sandstones, adding potential to discover stratabound mineralization adjacent to the high angle structures.
The dikes range from 1 to 10 m wide, following a strong N15*E orientation with 70-90* west dip.
The following table is a summary tabulation of all 2020 drill hole results.
Drill Hole From_
m
To_
m
Interval_
m
Au
gpt
Ag
gpt
AuEq
gpt
Comments
TR20-001 105 Az, -45, TD
199.64m
No significant results
TR20-002 016
Az, -60
19.81 96.01 *67.06 1.07 42.1 1.60 *Excludes 9.14m of Tunnels
TD, 156.97m 19.81 45.72 25.91 0.83 21.7 1.10
45.72 59.44 12.20 3.18 136.4 4.89
83.82 92.96 9.14 0.62 21.0 0.88
102.11 115.82 13.72 0.32 14.5 0.50
TR20-003 095
Az, -60
6.10 103.63 *93.06 0.77 25.2 1.07 *Excludes 4.47m of Tunnels
TD 230.12m 16.76 24.38 7.62 0.58 15.0 0.77
25.91 39.62 10.67 0.99 24.3 1.30
42.67 62.48 19.81 0.30 26.8 0.63
67.06 102.11 35.05 1.24 36.1 1.69
TR20-004, -90 18.29 82.30 *54.86 0.54 25.9 0.85 *Excludes 9.14 of Tunnels
TD, 124.97m 0.00 6.10 6.10 0.43 3.3 0.47
18.29 38.10 19.81 0.84 24.2 1.15
47.24 82.30 35.05 0.39 26.9 0.72
TR20-005 170
Az, -60
25.91 48.77 21.34 0.52 26.3 0.85 Excludes 1.52m of Tunnel
TD, 132.59m 25.91 41.15 15.24 0.62 30.0 1.00
42.67 48.77 6.10 0.26 17.1 0.47
77.72 82.30 4.57 0.42 8.3 0.53
TR20-06 155 Az,
-45
10.67 39.62 *13.71 0.78 23.5 1.07 * Excludes 15.24m of
Tunnels
TD, 152.4m 28.96 33.53 4.57 3.65 48.5 4.26
TR20-07 040 Az,
-50
22.86 50.29 19.81 0.41 11.1 0.55 *Excludes 7.62m of Tunnels
TD, 152.4m 25.91 30.48 4.57 * * * * Underground Tunnel, no
recovery
32.00 35.05 3.05 * * * * Underground Tunnel, no
recovery
38.10 44.20 6.10 0.77 13.3 0.94
TR20-08 098 Az,
-60
12.19 71.63 57.91 0.59 11.8 0.74 * Excludes 1.52m of Tunnel
TD, 152.4m 12.19 24.38 10.67 1.57 22.8 1.85 * Excludes 1.52m of Tunnel
15.24 16.76 1.52 * * * * Underground tunnel, no
recovery
62.48 68.58 6.10 1.58 10.8 1.72
TR20-09 098 Az,
-85
32.00 65.53 30.48 3.21 45.6 3.78 * Excludes 3.05m of Tunnel
TD, 152.4m 32.00 50.29 15.24 6.18 77.2 7.15 * Excludes 3.05m of Tunnel
41.15 44.20 3.05 * * * * Underground Tunnel, no
recovery
126.49 132.59 6.10 0.45 8.1 0.55
TR20-010, 0, -90 18.29 47.24 *27.43 0.18 40.4 0.69 *1.52m of tunnel
Hole lost at 68.58m
with 30.48 38.10 7.62 0.30 85.5 1.37
TR20-011, 330, -
70
30.48 83.82 *27.43 0.31 14.3 0.49 *25.91m of stopes, tunnels
TD 155.14m
TR20-012, 95, -
60
No Significant Intercepts
Hole lost at 80.77m
TR20-013, 260, -
60
12.19 60.96 48.77 0.38 50.7 1.01
Hole lost at 60.96m
with 15.24 41.15 25.91 0.43 78.4 1.41
TR20-014, 0, -90 16.77 47.25 *28.96 0.17 19.2 0.41 *1.52m of tunnel
TD 152.4m
with
27.43 30.48 3.05 0.55 51.3 1.19
Proximal twin of
010
TR20-015, 255, -
60
16.76 38.10 21.34 0.27 34.7 0.70
TD 152.4m Proximal twin of
013
TR20-016, 308, -
60
39.62 67.06 27.43 0.38 11.2 0.52
TD 152.4m
with
47.24 50.29 3.05 2.25 41.0 2.76
TR20-17, 285, -
60
1.52 141.73 140.21 0.38 19.3 0.62
TD 152.4m
with
109.73 131.06 21.34 1.32 59.8 2.07
TR20-18, -90 80.77 115.82 *32.00 1.40 55.20 2.09 Excludes 3.05m of tunnel
TD. 152.4
with
94.49 105.16 *7.62 4.18 174.2 6.36 Excludes 3.05m of tunnel
TR20-19, 105, -
50
0.00 24.38 24.38 0.89 11.5 1.04
TD. 56.39m, hole
lost
3.05 9.14 6.09 2.34 10.3 2.20
TR20-20, 105, -
50
0.00 15.24 15.24 0.58 11.2 0.72
TD. 152.4 44.20 56.39 12.19 0.47 12.61 0.62
Proximal to 19 65.53 147.83 82.30 0.74 23.8 1.03
with 76.20 99.06 22.86 1.74 56.1 2.45
TR20-21, 265, -
60
47.24 51.82 4.57 1.89 143.2 3.68
TD. 152.4m 68.58 77.72 *7.62 0.65 33.3 1.07 Excludes 1.52m of tunnel
88.39 103.63 15.24 0.61 76.9 1.58
149.35 152.40 3.05 0.26 18.3 0.48 Bottomed in Mineralization
1. AuEq is calculated using an 80:1 silver:gold ratio
2. Au, Ag, and AuEQ are in grams per ton, “gpt”
3. Additional information related to true thicknesses on individual holes can be found in prior NR’s dated Sept
29, Oct 21, Nov 30, and Dec 22
Aztec is currently designing a Phase 2 RC drilling program to infill between the Phase 1 drill patterns as
well as step out down dip to expand the shallow, broad, bulk tonnage gold -silver mineralizat ion
discovered around and below the Contention pit.
Aztec holds an option to acquire a 75% interest in the Tombstone property , which includes most of the
original patented mining claims in the district as well as some recently acquired properties . The main
target of the current RC dril l program was to test for shallow, bulk tonnage, heap leachable, epithermal
gold-silver oxide mineralization adjacent and below the previously mined Contention pit. 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 also announces that it has re -engaged Commodity-TV and Rohstoff-TV (C&R-TV) for a subsequent
four-month period to assist with Aztec's investor relations activities. Pursuant to an agreement
commencing January 1 , 202 1, Aztec will pay C&R -TV 9,000 euros, plus expenses. C&R -TV is based in
Switzerland and will introduce Aztec to its European investor network by recording, translating,
broadcasting and disseminating on its digital platforms Aztec news, articles, interviews and webinars.
QA/QC Protocol
Joey Wilkins, B.Sc., P.Geo., VP Exploration & Chief Geologist for Aztec, is the Qualified Person overseeing
the Tombstone exploration program. Drill cuttings are collected every 5 feet (1.52m) from all drill holes.
The samples were analyzed for gold with a 50-gram sample size using the method FA450 (Fire Assay gold)
followed by AQ200 (Aqua Regia ICP) . Over limits, when present, are analyzed by AR404 or FA550. All
samples were analyzed by Bureau Veritas Minerals laboratories located in Hermosillo, Mexico and
Vancouver, Canada. All holes contain certified blanks, standards, and dup licates as part of the quality
control program. Mr. Wilkins 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 miner al exploration company focused on the discovery of large
polymetallic mineral deposits in the Americas. Our core asset is the prospective Cervantes porphyry gold-
copper property in Sonora, Mexico. The historic, district -scale Tombstone properties host both bulk
tonnage epithermal gold-silver as well as CRD silver -lead-zinc mineralization in Cochise County, 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, CEO or Bradford Cooke, Chairman
Tel: (604) 619-7469
Fax: (604) 685-9744
Email: [email protected]
Website: www.aztecminerals.com
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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.
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