Aztec Summarizes 2021 RC Drill Results from Tombstone Project, Arizona; Multiple, Shallow, Thick, Oxidized Gold-Silver Intercepts Expand Mineralized Zones Around and Below the Contention Pit, Still Open in All Directions
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Aztec Summarizes 2021 RC Drill Results from Tombstone Project, Arizona;
Multiple, Shallow, Thick, Oxidized Gold-Silver Intercepts Expand Mineralized
Zones Around and Below the Contention Pit, Still Open in All Directions
__________________________________________________________________
Vancouver, Canada – December 7, 2021 - Aztec Minerals Corp. (AZT: TSX-V, OTCQB: AZZTF) summarizes
the results of its recently completed 2021, Phase 2, 23-hole, 2,716 metre (m) reverse circulation (RC) drill
program on the Tombstone project which covers most of the historic Tombstone silver mining district in
southeastern Arizona.
Every one of the 23 drill holes inters ected shallow oxidized gold-silver mineralization over substantial
widths, thirteen drill holes crossed old tunnels where presumably the highest-grade ores were previously
mined, several drill holes encountered visible gold, and all drill holes bottomed in mineralization,
indicating the main mineralized zones are still open to depth as well as laterally.
The drill holes were spaced approximately 50 m apart along fence patterns trending NNE, and dipping
from near vertical to -45 degrees E. The 2021 drill holes are step outs from the 2020 RC drill holes reported
previously in the north and central parts of the Contention open pit. Two of the drill holes (TR21-21, 22)
were twins of historic USMX drill holes TR-57 and TR-67, which along with one 2020 twin drill hole (TR20-
18) will be used to verify the USMX drill data for use in a future resource estimation.
View: Tombstone Longitudinal Section and Tombstone 2020-2021 RC Drilling Plan Map
Drill Highlights:
Section H: Link to Section View H
➢ Hole TR21-13 - 1.8 grams per tonne (gpt) gold and 36.9 gpt silver (2.33 gpt gold equivalent
(AuEq)) over 70.1 meters (m), including 6.08 m grading 2.93 gpt gold and 157 gpt silver (5.17
gpt gold equivalent AuEq) and 1.52 m with visible gold in quartz veining gr ading 55.71 gpt
gold and 176.1 gpt silver (58.22 gpt gold equivalent AuEq). Hole bottomed in mineralization
grading 0.37 gpt AuEq when ground caving forced early termination of the hole
Interval has argillic and siliceous alteration, fine-grained sandstones, siltstones cut by
quartz-feldspar porphyry dikes, faults/fissures, and hydrothermal breccias with quartz
veining. Moderate to strong iron oxides, weak manganese oxides, orange-red color, and 1-
3% oxidized pyrite. The drill hole interval exposed one mine working, adjacent to strong
oxidation. Visible gold and cerargyrite (AgCl) was found at 132.6 – 135.7 m in a quartz vein.
Section I: Link to Section View I
➢ Hole TR21-10 - 1.39 gpt gold and 56.4 gpt silver (2.20 gpt gold equivalent AuEq) over 96.04
meters (m), including 39.94 m grading 2.47 gpt Au and 28.9 gpt Ag (2.97 gpt AuEq), 19.82
m grading 0.96 gpt Au and 24.98 gpt Ag (1.31 gpt AuEq), and 10.67 m grading 0.837 gpt Au
and 60.96 gpt Ag (1.71 gpt AuEq)
Interval has siliceous alteration, fine-grained sandstones, siltstones and limestones cut by
quartz-feldspar porphyry dikes, faults/fissures, and hydrothermal breccias with quartz
veining. Moderate to strong iron oxides, manganese oxides, orange to red color, and 1 to 4
% oxidized pyrite sites. The drill hole interval exposed two mine workings, adjacent to
breccias and dikes.
➢ Hole TR21-11 - 1.2 gpt gold and 71.6 gpt silver (2.22 gpt AuEq) over 24.3 m, and 0.17 gpt Au
and 6 gpt Ag (0.26 gpt AuEq) over 16.7 m
Interval has argillic and siliceous alteration, fine-grained sandstones, siltstones cut by
quartz-feldspar porphyry dikes, faults/fissures, and hydrothermal breccias with strong
quartz veining. Moderate to strong iron oxides, manganese oxides, orange to red to black
color, and 1 to 4 % oxidized pyrite sites. The interval exposed one mine workings below the
strong mineralization, a possible development tunnel.
Section J: Link to Section View J
➢ Hole TR21 -15 – 0.22 grams per tonne (gpt) gold and 18.3 gpt silver (0.487 gpt gold
equivalent (AuEq)) over 42.7 meters (m)
Interval has siliceous alteration, fine-grained siltstones and limestones cut by quartz-feldspar
porphyry dikes, faults/fissures, and hydrothermal breccias with quartz veining. Weak to
strong iron oxides, manganese oxides, orange to red to black color, and trace to 2% oxidized
pyrite. The drill hole interval exposed one mine stope of 6.1 m in a mineralized dike.
➢ Hole TR21-16 – 0.807 gpt gold and 15.9 gpt silver (1.035 gpt AuEq) over 64.0 m, including
3.61 gpt gold and 51.6 gpt silver (4.34 gpt AuEq) over 13.7 m
Interval has argillic and siliceous alteration, fine -grained sandstones, and siltstones cut by
quartz-feldspar porphyry dikes, faults/fissures, and hydrothermal breccias with quartz
veining. Moderate to strong iron oxides, weak manganese oxides, orange to red color, and 1
to 3 % oxidized pyrite sites. The higher -grade interval of 13.7 m is of hydrothermal breccias
with visible gold, strong silicification and quartz veinlets.
Section K: Link to Section View K
➢ Hole TR21-17 – 1.73 gpt gold and 56.2 gpt silver (2.53 gpt AuEq) over 64 m, including 6.455
gpt gold and 274 gpt silver (10.37 gpt AuEq) over 3.04 m, and 4.08 gpt gold and 59.4 gpt
silver (4.93 gpt AuEq) over 10.7 m
Interval has argillic and siliceous alteration, fine -grained sandstones, siltstones and
limestones cut by quartz-feldspar porphyry dikes, faults/fissures, and hydrothermal breccias
with quartz veining. Weak to strong iron oxides, manganese oxides, orange to red to blac k
color, and trace to 3 % oxidized pyrite sites. The interval found visible gold from 32.0 to 33.5
m in hydrothermal breccias with strong silicification and quartz veinlets at the contact with
overlying limestones and underlying quartz -feldspar porphyry di ke. At 82.3 to 85.4 m
chrysocolla ( copper oxide ) was found with abundant quartz veinlets adjacent to a
hydrothermal breccia. This zone had the above noted 10.37 gpt AuEq results.
➢ Hole TR21-18 – 0.76 gpt gold and 20.61 gpt silver (1.049 gpt AuEq) over 64 m, including 2.46
gpt gold and 37.0 gpt silver (2.99 gpt AuEq) over 9.1 m
Interval has siliceous alteration, fine -grained sandstones, siltstones and limestones cut by
quartz-feldspar porphyry dikes, faults/fissures, and hydrothermal breccias with quartz
veining. Moderate to strong iron oxides, manganese oxides, orange to red color, and 1 to 3 %
oxidized pyrite sites. The interval found visible gold from 37.2 to 41.1 m in hydrothermal
breccias with strong silicification, manganese oxides, and quartz veinlets within siltstones.
Lower in the interval from 80.8 to 83.8 m a tunnel was found in 15.2 m of strongly silicified
and quartz veined hydrothermal breccias, also hosted siltstone.
➢ Hole TR21-22 – 2.441 gpt gold and 66.56 gpt silver (3.392 gpt AuEq) over 65.5 m, including
16.80 gpt gold and 374.36 gpt silver (22.148 gpt AuEq) over 7.6 m . This hole ended in
mineralization grading 1.045 gpt AuEq where it was terminated due to caving. TR21-22 is a 55
m step out east of drill holes TR21-17 and TR21-18 on section K. It is a twin of USMX hole TR-
067 and shows the mineralization in the pit is open to the east and at depth.
The interval has strongly siliceous alteration, fine-grained sandstones and siltstones cut by
quartz-feldspar porphyry dikes, faults/fissures, and hydrothermal breccias with quartz
veining. Moderate to strong iron oxides, weak manganese oxides, orange to red color, and
traces to 3 % oxidized pyrite sites. At the bottom of the drill hole was found the high -grade
interval of 7.6 m reported above in hydrothermal breccia.
Section M: Link to Section View M
➢ Hole TR21 –03 - 5.713 grams per tonne (gpt) gold and 40.5 gpt silver (6.282 gpt gold
equivalent (AuEq)) over 32.01 meters (m), including 15.24 m grading 11.891 gpt gold and
62.9 gpt silver (12.79 gpt gold equivalent AuEq)
Interval of argillic and siliceous alteration, fine -grained sandstones cut by quartz -feldspar
porphyry dikes, faults/fissures, and hydrothermal breccias with quartz veining. Moderate to
strong iron oxides, orange to red color, and 2 to 3 % oxidized pyrite sites.
➢ Hole TR21-20 – 0.247 gpt gold and 15.2 gpt silver (0.464 gpt AuEq) over 47.3 m including 7.6
m of open mine workings. The drill hole was terminated in mineralization due to caving with
the last sample assaying 1.283 gpt AuEq. This hole is a vertical step o ut 30 m to the west of
section M and shows the mineralization is open to the west and at depth.
Interval has argillic and siliceous alteration, fine -grained sandstones and siltstones cut by
quartz-feldspar porphyry dikes and faults/fissures, with quartz v eining. Moderate to strong
iron oxides, weak manganese oxides, orange to red to brown color, and 2 to 3 % oxidized
pyrite sites. The 7.6 m high stope encountered is astride the contact between an overlying
dike and the siltstones underneath.
Section N: Link to Section View N
➢ Hole TR21-06 - 0.22 gpt gold and 17.3 gpt silver (0.47 gpt AuEq) over 74.69 m, including
4.57 m grading 1.26 gpt Au and 18.6 gpt Ag (1.53 gpt AuEq)
Interval has argillic and siliceous alteration, fine -grained sandstones, siltstones and
limestones cut by quartz-feldspar porphyry dikes, faults/fissures, and hydrothermal breccias
with quartz veining. Moderate to strong iron oxides, manganese oxides, orange to red color,
and 1 to 5 % oxidized pyrite sites.
➢ Section N, Hole TR21-08 - 2.09 grams per tonne (gpt) gold and 47.1 gpt silver (2.76 gpt gold
equivalent AuEq) over 39.64 meters (m), including 18.29 m grading 3.53 gpt gold and 58.4
gpt silver (4.37 gpt gold equivalent AuEq), which bottomed in mineralization grading 1.21 gpt
AuEq when ground caving forced early termination of the hole
Interval has argillic and siliceous alteration, fine-grained sandstones, hornfels, and siltstones
cut by quartz-feldspar porphyry dikes, faults/fissures, and hydrothermal breccias with quartz
veining. Moderate to strong iron oxides, orange to red color, and 2 to 3 % oxidized pyrite sites.
Section O: Link to Section View O
➢ Section O, Hole TR21 -23 - 0.556 grams per tonne (gpt) gold and 16.6 gpt silver (0.793 gpt
gold equivalent AuEq) over 24.4 meters (m), which bottomed in mineralization grading 1.188
gpt AuEq when ground caving forced early termination of the hole
Interval has argillic and siliceous alteration, fine-grained sandstones, hornfels, and siltstones
cut by quartz-feldspar porphyry dikes, faults/fissures, and quartz veining. Moderate to strong
iron oxides, orange to red color, and 2 to 3 % oxidized pyrite sites.
Section TR21-21: Link to Section View 21
➢ Hole TR21-21 – 0.797 gpt gold and 15.1 gpt silver (1.012 gpt AuEq) over 18.3 m including 3
m of open mine workings. The drill hole was terminated in mineralization due to caving
following another intersection of a 4.6 m mine working, with the last sample assaying 1.997
gpt AuEq. This hole is a horizontal step out 50 m to the north of TR20-09, is the current
northernmost drill hole and shows the mineralization is open in all directions and at depth.
Interval has argillic and siliceous alteration, fine -grained sandstones and siltstones cut by
quartz-feldspar porphyry dikes and faults/fissures, with quartz veining. Moderate to strong
iron oxides, weak manganese oxides, orange to red to brown color, and 2 to 3 % oxidized
pyrite sites.
The following is a summary tabulation of all 2021 drill hole results:
Drill Hole From m To m Interval
m* Au gpt Ag gpt Au Eq gpt
(1) Comments
TR21-01 68.6 71.64 3.04 0.188 4.1 0.247
104 Az, -50 82.32 109.76 27.44 0.177 24.94 0.533 Two, 1.5 m tunnels at 100.6 m
135.7 m TD and 108.2 m
TR21-02 96.04 123.48 27.44 0.589 17.99 0.846
104 Az, -60
152.4 m
TR21-03 18.29 21.34 3.05 0.271 2.25 0.303
104 Az, -45 57.93 60.98 3.05 1.41 0.4 1.415
152.4 m TD 80.79 112.8 32.01 5.713 40.54 6.282
Including: 89.94 105.18 15.24 11.891 62.86 12.788
120.43 125 4.57 0.159 5 0.23
129.57 132.62 3.05 0.272 14.9 0.485
TR21-04 56.4 60.98 4.57 0.799 9.53 0.935
104 Az, -60 68.6 89.94 21.34 1.193 37.06 1.723
129.6 m TD 103.05 123.48 20.43 0.105 21.01 0.405 Tunnel of 3.7 m at 103 m
TR21-05 47.26 68.59 21.34 2.071 26.06 2.444
104 Az, -60
68.6 m TD
TR21-06 7.62 12.2 4.57 0.765 38.5 1.315
104 Az, -65 62.5 65.55 3.05 0.866 2.15 0.896
182.9 m TD 83.32 157.01 73.69 0.22 17.3 0.468
Including: 83.32 92.99 9.67 0.641 14.1 0.584
123.48 157.01 33.53 0.202 23.9 0.544
TR21-07 1.52 6.1 4.58 0.776 34.6 1.272
104 Az, -45 57.93 59.45 1.52 1.404 3.1 1.448
117.4 m TD 67.07 74.69 7.62 0.303 1.4 0.323
88.41 112.8 24.39 0.491 23.1 0.821 Tunnel of 4.6 m at 91.4 m - 96.0
m
TR21-08 53.35 92.9 39.64 2.085 47.1 2.758
104 Az, -90
92.9 m TD
TR21-09 44.21 51.83 7.62 0.173 9.2 0.305
284 Az, -80 68.6 73.17 4.57 1.16 12.93 1.345
176.8 m TD 82.32 108.23 25.91 0.452 16.9 0.694
Including: 82.32 86.89 4.57 0.701 33.8 1.184
92.99 99.08 6.09 1.049 24.35 1.397
103.66 108.23 4.57 0.35 21.6 0.658
TR21-10 0 4.57 4.57 0.192 4.2 0.252
104 Az, -45
135.7 m TD 25.91 121.95 96.04 1.39 56.4 2.196 Two tunnels, 3 m at 74.7 m
Including: 25.91 65.55 39.44 2.472 28.9 2.967 and 4.5 m at 86.9 m
77.74 97.56 19.82 0.955 24.98 1.312
111.28 121.95 10.67 0.837 60.96 1.708
TR21-11 4.6 21.3 16.7 0.17 6.04 0.256
104 Az, -65 57.9 65.5 7.6 0.069 12.38 0.256
135.7 m TD 82.3 106.7 24.4 1.198 71.64 2.221 Tunnel of 3 m at 111.8 m
TR21-12 83.8 91.5 7.6 0.266 20.9 0.565
101 Az, -45
152.4 m TD
TR21-13 82.3 152.4 70.1 1.804 36.9 2.331 Visible Gold
101 Az,-70 Tunnel of 1.5 m at 103.7 m
178.4 m TD
TR21-14 18.3 30.5 12.2 0.087 11.65 0.254
288 Az, -80 61 68.6 7.6 0.323 9.9 0.464
138.7 m TD 83.8 91.5 7.6 0.136 11.74 0.304
112.8 118.9 6.1 0.047 12.35 0.223
129.6 135.7 6.1 0.042 24.37 0.39
TR21-15 15.2 22.8 7.6 0.198 16.8 0.438
104 Az, -60
83.8 m TD 39.6 82.3 42.7 0.225 18.34 0.487 Tunnel of 6.1 m
TR21-16 48.8 112.8 64 0.807 15.98 1.035 Incl. Partial Tunnel at 109.8 m
Including 86.9 100.6 13.7 3.607 51.55 4.343 Visible Gold
104 Az, -90
157 m TD
TR21-17 27.4 91.4 64 1.726 56.198 2.529
Including 32 42.7 10.7 4.076 59.4 4.925 Visible Gold
104 Az, -60 82.3 85.4 3.04 6.455 274 10.369
92.9 m TD
TR21-18 36.6 100.6 64 0.755 20.61 1.049 Visible Gold
Including 77.7 86.8 9.1 2.458 37 2.987 Tunnel of 3 m at 80.8 m
104 Az, -90
135.7 m TD 106.7 128 21.3 0.147 11.679 0.313
TR21-19 65.5 74.7 9.1 0.778 81.6 1.944 Tunnel of 1.5 m at 65.5 m
104 Az, -60
74.7 m TD
TR21-20 35.5 80.8 47.3 0.247 15.2 0.464 Stope of 7.6 m at 70.1 m
104 Az, -90
80.8 m TD
TR21-21 18.3 36.6 18.3 0.797 15.05 1.012 Twin of USMX TR57: Tunnel of 3
m
105 Az, -45 at 24.4 m
62.5 m TD 56.4 62.5 6.1 1.31 48.1 1.997 Tunnel of 4.6 m at 56.4 m
TR21-22 21.3 86.9 65.5 2.441 66.56 3.392 Twin of USMX TR67
Including 77.8 85.4 7.6 16.8 374.36 22.148
90 Az, -60
125 m TD
TR21-23 54.9 62.5 7.6 0.203 8.86 0.329
104 Az, -85
93 m TD 68.6 93 24.4 0.556 16.62 0.793
1. AuEq is calculated using a 70:1 silver:gold ratio
* All interval widths are not true widths and intercept true widths are not yet estimated.
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 Jul 7,
Jul 27, Sep 8, Sep 14, and Sep 28
Gold equivalents are calculated using a 70:1 silver:gold ratio. Reported lengths are apparent widths, not
true widths3. The gold – silver mineralization zones are generally west dipping at around 60-80 degrees,
associated with the quartz-feldspar porphyry dikes. However, these dikes also extend at shallow angles
out from the Contention fault along fold noses in the Bisb ee 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 five 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.
The 2021 drill holes were collared along the western rim and inside of the north and central parts of the
Contention Pit and intersected mineralization over a north-south length of 600 meters by over 150 m of
east-west width and to maximum depths of 175 m. The 2020 drilling had an area of mineralization of 850
m long by an average of 75 m wide and to maximum depths of 200 m deep. The combined 2020 and 2021
drilled area now spans 900 m long by over 230 m wide and to maximum depths of 200 m, with gold-silver
mineralization still open in all directions and at depth.
The low sulfidation epithermal gold -silver mineralization observed to date is impressive, marked by
hydrothermal breccias, quartz veining and silicification associated with quartz-feldspar porphyry dikes and
moderate to strong potassic, argillic and advanced argillic alteration and hornfels within the host Bisbee
sandstones and siltstones. Areas of intense hematite, goethite and m anganese wad are extensive,
associated with quartz -calcite veins and localized skarn alteration in limestones. Cerargyrite (silver
chloride) is observed in fractures, often with fine-grained visible gold. Most silver and gold mineralized
zones intersected in the 2020 and 2021 drill programs are proximal to and in the hanging -walls and
footwalls of old underground mine workings.
Aztec has completed the 2,716 m and 23 -holes of the originally planned 2,900 metre, 20 -hole Phase 2
reverse circulation (RC) drilling program at the Tombstone Property. The company has reported assays
for 23 holes. Samples were regularly shipped to and received by the Bureau Veritas Minerals laboratory
in Hermosillo, Mexico for geochemical analysis.
Tombstone Project Overview
Aztec holds a 75% interest in the Tombstone Property Joint Venture, which includes most of the original
patented mining claims in the district as well as some recently acquired properties . The main target of
the 2021 Phase 1 RC drill program is to continue t esting the shallow, bulk tonnage, heap leachable,
epithermal gold-silver oxide mineralization adjacent and below the previously mined Contention pit by
infill and step-out drilling. Future drilling is expected to focus on strike and dip extensions of the shallow
oxide mineralization, and move deeper to test for larger, deeper “Taylor-type” CRD sulfide targets along
and adjacent to the Contention structure.
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