Aztec Summarizes 2024 Exploration Drill Program at Tombstone Project, Arizona - Multiple, New, Shallow, Thick and High-Grade Gold- Silver Intercepts significantly expand the Contention Zone and a First Pass Discovery in the Westside Zone
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Vancouver, BC V7X 1M5
Aztec Summarizes 2024 Exploration Drill Program at Tombstone
Project, Arizona - Multiple, New, Shallow, Thick and High-Grade Gold-
Silver Intercepts significantly expand the Contention Zone and a First
Pass Discovery in the Westside Zone
Vancouver, Canada – February 19, 2025 - Aztec Minerals Corp. (AZT: TSX-V, OTCQB: AZZTF) (“Aztec” or
the “Company”) summarizes the results of the recently completed 2024, 17-hole, 3,129 meter (m) reverse
circulation (RC) drill program on the Tombstone Project which covers most of the historic Tombstone
silver mining district in Southeastern Arizona. The program was successful in significantly expanding the
footprint of the wide and shallow potentially bulk mineable style of oxide silver-gold mineralization.
Contention Southern Extension Zone Highlights:
• Bonanza grade Silver Intersection in TR24-16 of 7,269 gpt AgEq (233.7 opt AgEq – 3,669 gpt Ag,
44.7 gpt Au) over 1.52 m, within a zone of 569 gpt AgEq (18.3 opt AgEq – 290 gpt Ag, 3.48 gpt
Au) over 25.8 m, representing the highest silver grade encountered in drilling to-date by Aztec
at the Tombstone Project
• The TR24-16 intercept in the South Extension of the Contention pit intersected multiple zones of
oxide Ag-Au mineralization including 106.4m of 147.9 gpt AgEq (1.85 gpt AuEq – 76.2 gpt Ag
and 0.90 gpt Au)
• The TR24-16 bonanza intercept is located along the Contention Pit trend 439 m SSW along
strike from the prior bonanza intercept in TC23-01 (3,477 gpt Ag and 0.12 gpt Au (3,485.1 gpt
AgEq) over 1.52 m
• The deep oxidation, alteration and mineralization reported in TR24-16 supports the concept that
the large AMT anomaly further down dip may potentially be mineralized
• The 2024 RC drilling program has concluded, and the oxide Ag-Au mineralization remains open
in all directions, further supporting the potential for the increase in the footprint of shallow
oxide silver-gold mineralization in the vicinity of the Contention Zone.
Contention Main Zone Highlights:
• DH TR24-10 intersected 9.2m of 5.93 gpt AuEq within broader zone of 88.1m averaging 1.02 gpt
AuEq (0.67 gpt Au and 27.64 gpt Ag) at shallow depth
• DH TR24-07 intersected wide mineralized zone with 0.39 gpt AuEq over 146.3 m (0.21 gpt Au &
14.12 gpt Ag); including 1.94 gpt AuEq over 13.7m (1.22 gpt Au & 57.61 gpt Ag)
• 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)
• DH TR24-01 intersected 0.75 gpt AuEq over 103.6 m (0.59 gpt Au & 12.48 gpt Ag); including
3.11 gpt AuEq over 15.3m (2.84 gpt Au & 21.4 gpt Ag) and 11.06 gpt AuEq over 3.05m (10.63 gpt
Au & 35.10 gpt Ag)
Figure 1: Contention Zone Long Section
Westside Discovery Preliminary Drilling Highlights:
• Drillhole TR24-13 intersected 24.4m of 106.24 gpt AgEq within a broader zone of 85.4m
averaging 47.31 gpt AgEq (0.281 gpt Au and 24.79 gpt Ag) at shallow depth in the Westside
Anticline discovering a new body of significant oxidized silver - gold mineralization
• Several drillholes in the first pass test of the Westside Zone confirmed Silver-Gold oxide
mineralization intersections for the geologically diverse, modeled targets
• The Westside Zone demonstrates potential for hosting shallow Silver-Gold oxide mineralization
similar to that of the adjacent Contention Main Zone
2024 RC Drilling Program
The 2024 Tombstone RC drilling program achieved its goals of expanding the footprint of the shallow,
potentially bulk mineable and heap leachable, mesothermal oxide silver-gold mineralization in the
Contention Zone and finding mesothermal oxide silver-gold mineralization zones in the Westside Zone’s
first pass drilling. The Contention oxide silver-gold mineralization has been expanded considerably to the
west, south, north and to depth, and is still open in all directions.
The Westside zone’s first pass drilling exploring was targeting several demonstrated mineralization
focusing structures – anticlines, quartz stringer fissure lodes, and quartz feldspar porphyry dikes for
oxide silver-gold mineralization found it in every drillhole including a discovery hole (TR24-13) in the
Westside Anticline.
The drilling program targeted shallow zones, associated with recently completed surface exploration and
3D geological modelling, prospective for wide oxide gold -silver mineralization. The drilling program has
completed 17 RC drill holes (3,129.2m) testing both Contention area step out targets and Westside zone’s
first pass targets (see Figures 1, 2 below), with results from all 17 holes now announced.
Contention Main Zone
Eight of the 2024 RC holes in the program were drilled in the Contention main zone as part of a “fan grid
pattern” being drilled in the Contention area since 2020. T hese 2024 RC drill holes were to test for
extensions on the west and north borders and underneath of the north -trending Contention main zone
which hosts much of the historic underground and open pit Contention mine.
• Holes TR24-01, 02 and 03 were oriented azimuth 105, -60, and designed to test for westerly and
down dip extensions of mineralization under the west pit wall and to depth. All three drill holes
had long intercepts of oxide silver-gold mineralization:
- Hole TR24-01 intercepted 0.59 gpt Au and 12.48 gpt Ag (0.75 gpt AuEq) over 103.6m,
including 15.3m grading 2.84 gpt Au and 21.4 gpt Ag (3.11 gpt AuEq).
- TR24-02 intercepted 0.19 gpt Au and 8.34 gpt Ag (0.3 gpt AuEq) over 149.4m, ending in
low grade mineralization and including 7.6m grading 1.65 gpt Au and 12.16 gpt Ag (1.8
gpt AuEq).
- TR24-03 intercepted 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 including 9.1m grading 1.67 gpt Au
and 20.43 gpt Ag (1.92 gpt AuEq).
The drill holes were 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. Hole TR24-03 had to be abandoned due to
caving after crossing mine workings.
Figure 2: Detailed Contention Main Pit and South Extension Plan Map
• 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). This
hole was oriented vertically (azimuth 0, -90) and was designed to test under the Contention main
pit and for down dip extensions of mineralization under the Contention main 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
main 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 br eccias 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 TR24-06 - 0.39 gpt Au and 13.46 gpt Ag (0.56 gpt AuEq) over 45.7m, and 0.14 gpt Au and
6.82 gpt Ag (0.22 gpt AuEq) over 39. The hole was located at the northern end of the western
edge of the Contention main pit and oriented azimuth 85, -60, and was designed to test for
westerly and down dip extensions of mineralization under the Contention main 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 10% oxidized pyrite sites. The drill hole had to
be abandoned at 213.4m due to caving.
• Hole TR24 -07 - 0.21 gpt Au and 14.12 gpt Ag (0.39 gpt AuEq) over 146.3m, ending in
mineralization and including 13.7m grading 1.22 gpt Au and 57.61 gpt Ag (1.94 gpt AuEq). The
hole was an 80 m step-out to the west and oriented with the general fan pattern (azimuth 105, -
66) and was designed to test under the western portion of the Contention main zone and for
down dip extensions of mineralization under the Contention main pit west wall and to depth. The
drillhole intersected a broad zone of mineralization, open down dip to the west and on strike to
the north. 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.
• Hole TR24-10 – 0.67 gpt Au and 27.64 gpt Ag (1.02 gpt AuEq) over 88.2 m and including 9.1 m at
4.23 gpt Au and 136.17 gpt Ag (5.93 gpt AuEq). Thirty -five meters lower down a second
mineralized zone was encountered of 25.8m at 0.05 gpt Au and 4.96 gpt Ag (0.11 gpt AuEq). The
hole was oriented azimuth 0, -90, and was designed to test for easterly and down dip extensions
of mineralization from under the Contention main pit east wall and to depth. The interval is
composed of siliciously and argillically altere d, 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.
Contention South Extension
• TR24-16 in the South Extension Area intersected 106.4m of 147.9 gpt AgEq (76.23 gpt Ag and
0.896 gpt Au) including a bonanza 1.5m intercept of 7,269 gpt AgEq (3,669 gpt Ag and 44.7 gpt
Au) within a zone of 569 gpt AgEq (18.3 opt AgEq) over 25.8 m , then 22.9m of 8.61 gpt AgEq
(0.029 gpt Au and 6.29 gpt Ag, and then 12.2m of 8.38 gpt AgEq (0.029 gpt Au and 6.29 gpt Ag)
• TR24-17 in the South Extension Area intersected 22.9m at 72.86 gpt AgEq (32.98 gpt Ag and 0.499
gpt Au), 25.9m at 17.66 gpt AgEq (13.62 gpt Ag and 0.051 gpt Au ) and finished the drill hole in
13.7m at 24.72 gpt AgEq (16.23 gpt Ag and 0.106 gpt Au)
The successful drilling of TR24 -16 and TR24 -17 in the Southern Extension of the Contention pit has
confirmed the geologic model for that portion of the Contention pit and has upgraded it as a priority for
future exploration. The southern end of the Contention system has yet to be defined. The importance of
the Qfp dike bodies acting as conduits for the hydrothermal breccias and quartz veinlets was affirmed
again. The Qfp dike bodies appear to have variations in thickness and mineralization plunging to the West.
Of importance as well was discovering the strong oxidation and mineralization in TR24 -16 continued to
the drill hole’s end at 265.3 m (229.7 m vertical) well under the eastern edge of the pit. The key limestone
marker beds of the project were not intercepted in TR24-16 east of the Contention fault system and this
suggests at least 70 m of down drop on the east side of the Contention fault system. The deep oxidation,
alteration and mineralization of TR24 -16 to its end supports the concept that the large AMT anomaly
further down may be mineralized.
The drill program continue d 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 d 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. For the program, TR24-16 is
the deepest hole drilled, has an inclination of -60 degrees and was drilled to a depth of 265.3 m (229.7 m
vertical) remaining in mineralized and oxidized rocks the majority of its length.
Westside Zone Discovery
• The Westside zone’s first pass exploration drilling program has encountered oxide silver -gold
mineralization in every drillhole to date, nearly doubling the area of drill demonstrated
exploration potential from the Contention zone alone. The geologic modeling for the Westside
zone was successful with blind targeting and confirmed the historic reporting of underground
mine workings as well as Aztec’s modeling.
• Drillhole TR24-13 intersected 24.4m of 106.24 gpt AgEq within a broader zone of 85.4m
averaging 47.31 gpt AgEq (0.281 gpt Au and 24.79 gpt Ag) at shallow depth in the Westside
Anticline discovering a new body of significant oxidized silver - gold mineralization
• Recent exploration, and geologic modeling in 2024, identified the features that were then drill
tested for the first time in the 2024 RC program. The 2024 first pass drill results provide significant
evidence for the potential for bulk mineable and underground mineralization in the area that was
slated for open pit production in the early 1980s.
• Notably, the TR24-13 discovery in the Westside anticline demonstrates that anticlines in the
target area can host significant oxide silver-gold mineralization, vertically in multiple zones, across
the Bisbee sedimentary section without the immediate presence of Qfp intrusive dikes. In
addition, the presence of the historic Sulphuret stope was confirmed. The mineralization and
presence of the Arizona Queen anticline was confirmed in TR24-08.
• TR24-08 was designed to test for mineralization in the postulated easterly extension of the
anticline (Arizona Queen) found in the mine workings near the Westside shaft No.1 and
considered the focus for the Last Chance stope. It intercepted 6.1 m of 105.1 gpt AgEq (1.23 gpt
Au and 7.0 gpt Ag) and then 0.35 gpt Au and 10.6 gpt Ag (38.75 gpt AgEq) over 21.3m. The hole
was oriented azimuth 90, -80, The interval is composed of siliciously and argillically altered, lower
Bisbee group fine -grained sandstones/qua rtzites, siltstones/hornfels cut by 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.
• Drill holes TR24-11 and TR24-12 tested for the Westside Fissure, confirmed the historic reporting,
and found widths of 16 to 25 meters of bulk tonnage grade oxide Silver -Gold mineralization
surrounding the high-grade fissure. The Westside target area exploration drilling results warrant
additional drilling.
• TR24-15 in the Westside zone’s Tribute mine intersected 12.2m at 15.39 gpt AgEq (11.52 gpt Ag
and 0.048 gpt Au) and then 25.9m at 31.82 gpt AgEq ( 19.48 gpt Ag and 0.154 gpt Au) in the
Ingersoll Anticline.
• An important concept from the Westside Zone was the difference in precious metal tenor (the
proportions/ratios for metals to each other) to more silver enriched compared to the Contention
open pit target area being more gold enriched . The Westside area is more dominated by
sedimentary rocks, less than 5% Qfp intrusive dikes by observed volumes, while the Contention
area has ~10% Qfp intrusive dikes by observed volumes.
Table 1: Contention South Extension Drill Results (Previously Reported):
Drill Hole From m To m Interval m* Au gpt Ag gpt Ag Eq gpt (1) Comments
TR24-16 25.9 132.6 106.4 0.896 76.23 147.9
Including: 73.1 74.6 1.5 45.0 3669 7269
70.1 96.0 25.8 3.483 290.51 569.16
65.6 132.6 67.1 1.374 119.5 229.42
and 160.0 182.9 22.9 0.029 6.29 8.61
and 223.4 235.6 12.2 0.026 6.3 8.38
TR24-17 64.0 86.9 22.9 0.499 32.98 72.86
Includes 1.5m of historic
workings dilution
109.7 135.6 25.9 0.051 13.62 17.66
146.3 160.0 13.7 0.106 16.23 24.72
Table 2 – Westside Target First Pass Drill Results (Previously Reported):
Drill Hole From m To m Interval m* Au gpt Ag gpt Ag Eq gpt (1) Comments
TR24-08 0 12.2 12.2 0.167 11.0 24.33 Historic open pit dumps
32.0 38.1 6.1 1.226 7.0 105.1
109.7 131.0 21.3 0.352 10.59 38.75
TR24-09 32.0 35.0 3.04 0.314 11.45 36.57
45.7 48.8 3.04 0.286 9.35 32.23
70.1 80.8 10.7 0.089 23.01 30.13
86.9 91.5 4.6 0.064 6.07 11.21
103.7 106.7 3.04 0.096 9.85 17.53
TR24-11 45.7 71.6 25.9 0.049 28.56 32.47
Includes 4.6m of historic
workings dilution
TR24-12 22.8 32.0 9.1 0.111 5.80 14.67
94.5 111.3 16.7 0.091 19.24 26.48
Includes 1.0m of historic
workings dilution
TR24-13 0 33.5 33.5 0.112 13.06 22.05
79.2 164.6 85.4 0.281 24.79 47.31
Includes 1.0m of historic
workings dilution
Including: 91.4 115.8 24.4 0.588 59.16 106.34
TR24-14 161.5 169.2 7.6 0.149 13.02 24.97
TR24-15 0 12.2 12.2 0.048 11.52 15.39
16.8 42.7 25.9 0.154 19.48 31.82
Includes 1.5m of historic
workings dilution
Table 3 – Contention Zone Drill Results (Previously Reported):
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
TR24-06 77.7 123.4 45.7 0.39 13.46 0.56
169.2 208.8 39.6 0.14 6.82 0.22
TR24-07 80.8 227.1 146.3 0.21 14.12 0.39
Including: 166.1 179.8 13.7 1.22 57.61 1.94
TR24-10 16.7 104.9 88.2 0.67 27.64 1.02
Including: 41.0 50.2 9.2 4.23 136.17 5.93
and: 138.3 164.1 25.8 0.05 4.96 0.11