Aztec Minerals
Intersects 0.71
gpt Gold over 139
m including 2.1 gpt over 20 m in
Initial Drill Results from
Cervantes Porphyry Gold
Property, Sonora, Mexico
Vancouver, Canada
-- February 1,
2018 -- InvestorsHub NewsWire --
Aztec Minerals Corp. (AZT: TSX-V,
OTCQB: AZZTF)
has
intersected long intervals of porphyry
gold (copper, silver)
mineralization
including shorter
intervals of high grade gold mineralization in the initial results
of its
Phase 1,
15 hole, 3,000 metre
(m)
drill program
at the Cervantes Project in Sonora
State, Mexico.
Drilling Highlights
Include:
- 139.0 m from surface
grading
0.71 grams per tonne
(gpt) Au, including 2.10 gpt Au over
20.0 m and 2.0m of 5.52 gpt
Au in
hole 17CER005 at the California
zone
- 117.0 m from near surface grading 0.63 gpt Au, including 1.18 gpt
Au over
43.0 m and 2.0m of 4.05 gpt
Au,
in hole
17CER003 at the California
zone
Drill Results Table:
Hole No.
|
From
(m)
|
To
(m)
|
Interval (m)
|
Gold
(gpt)
|
Copper (%)
|
Silver (gpt)
|
1
|
15.8
|
42.5
|
26.7
|
anomalous
|
|
|
|
|
|
|
|
|
|
2
|
7
|
227
|
220
|
anomalous
|
|
|
|
|
|
|
|
|
|
3
|
2
|
119
|
117
|
0.63
|
0.09
|
2.7
|
incl.
|
46
|
89
|
43
|
1.18
|
0.16
|
5.5
|
also
|
46
|
48
|
2
|
5.52
|
0.21
|
4.3
|
4
|
2
|
56
|
51
|
0.19
|
0.06
|
2.3
|
incl.
|
34
|
38
|
4
|
0.16
|
0.12
|
2.6
|
|
|
|
|
|
|
|
5
|
0
|
139
|
139
|
0.71
|
0.10
|
2.1
|
incl.
|
34
|
110
|
76
|
0.79
|
0.15
|
2.7
|
also
|
26
|
46
|
20
|
2.10
|
0.16
|
1.9
|
also
|
40
|
42
|
2
|
4.05
|
0.16
|
2.3
|
Joey
Wilkins,
CEO of Aztec, commented:
"These positive results
from three
of the
first five drill holes
of our Phase 1
drill program confirm that the California zone has excellent bulk
tonnage porphyry gold (copper, silver) potential at Cervantes.
Holes 3, 4 and 5 were drilled to test a small part of a
large surface geochemical gold anomaly on the hill that forms the
California zone (http://www.aztecminerals.com/_resources/Jan30_2018-DH-Map_Cerv_Final.jpg).
"As expected, we
intersected gold oxide mineralization
where the copper
has been partially leached out as well as mixed
oxides-sulfides transitioning to sulfide
mineralization at depth. The entire California zone
is
underlain by a
large, strong IP chargeability anomaly from 100 m depth down to at
least 500
m that
could represent the heart of a porphyry gold (copper, silver)
sulfide system.
"A total of 810
m
were
drilled in the
first five holes, and we are currently drilling hole
nine. Our first two
drill
holes intersected anomalous
but
sub-economic copper-gold-molybdenum
oxide
mineralization
from top to
bottom in the Jasper zone west of
the California zone.
The main focus of
our remaining holes in the
Phase 1 drill
program will be to systematically test the
western half of the much larger California zone."
Brief hole-by-hole
descriptions follow below.
17CER001: Jasper
zone to test high grade oxide
copper-gold mineralization near a north-south fault
0-15.85m Overburden
15.85-42.5mPolymictic
Breccia composed
of hornfels sediments and quartz feldspar porphyry,
hematite-goethite matrix filling. Hole was lost due to
broken ground and
fault gouge.
Assays range from trace up to
0.05 gpt gold, 0.09% copper, 6.10 gpt silver
17CER002:
Jasper zone 50 m
north of Hole 1
0-7.0mOverburden
7.0-227.0mPolymictic
Breccia,
hematite to goethite matrix, disseminated and veinlet
oxides, scattered minor copper
oxides,
moderate iron and manganese oxides, locally silicified
fragments
and matrix, minor chlorite, strong foliation and
fracturing, also Quartz
Feldspar
Porphyry, Aplite Dike
Assays range from trace up to
0.72 gpt gold, 0.20% copper, 3.5 gpt silver, 0.018%
molybdenum
17CER003:
California zone to test
large, strong, oxide gold
geochemical anomaly
0-202.0mQuartz Feldspar Porphyry
(QFP) and
Intrusive Breccia, strong hematite and
goethite after disseminated and veinlet sulphides
up to
3%,
abundant clay and sericite alteration, quartz
veinlets and silicification,
locally brecciated to re-brecciated,
some
Fault
Zones, terminated in
Hornfels-Siltstone
Assays range
from trace
up to 5.52 gpt gold, 0.54% copper, 28.8 gpt
silver
17CER004:
California zone weaker part of
gold geochemical anomaly
0-194.0mQFP, goethite, hematite,
quartz veinlets
and silicification, manganese oxide, sparse
siderite,
minor quartzite fragments, Faulted Zones and
Intrusive
Breccia, pyrite as matrix and disseminated, partly oxidized to
hematite and goethite, sericite, clay, silicified with
quartz-calcite veinlets, minor patches of
Hornfels, Rhyolite,
Aplite, terminated in
Polymictic Breccia, Hornfels.
Assays range from trace up to
0.76 gpt
gold, 0.12% copper, 4.70
gpt
silver
17CER005:
California zone stronger part of
gold geochemical anomaly
0.0-145.0mQFP, Intrusive
Breccia, oxidized with goethite, minor
abundant hematite, strong clay and sericite alteration,
minor quartz veinlets and silicification, sulphides up to 6%, some
Fault
Zones, strong sericite-clay
alteration, pyrite veins up to 7.0cm
wide, some Polymictic Breccias and Hornfels, intense alteration
near contact with Diorite
Dike, 10-15% pyrite,
terminated in
Polymictic Breccias, Hornfels
Assays range from trace up to
4.30 gpt
gold, 0.70% copper, 7.6
gpt
silver
Joey Wilkins, B.Sc.,
P.Geo., President and CEO of the
Company, is the Qualified
Person who
reviewed and approved the technical
disclosures in this news release.
All core samples
were split in half, placed into plastic bags, labeled with sample
number, closed with zip ties, and placed in rice sacks. Samples
were typically collected in 2.0m intervals with occasional
exceptions of 1.5 or 3.0m intervals. Blanks, duplicates, and
certified standards were inserted into the sample stream and
subsequently
reviewed without any outliers or abnormal results. The samples were
delivered to Bureau Veritas Laboratories in Hermosillo and analyzed
for gold using a 30gram sample by fire assay fusion with AAS
finish. Samples were shipped to Vancouver and analyzed with a
0.25gram sample using 4-acid ICP-MS providing analysis on 45
elements.
The Cervantes Property is
held under an option to purchase agreement with Kootenay Silver
Inc. (TSX-V:KTN) whereby Aztec can acquire
up to 100% interest in the property in two stages. Additional
information can be found on our website.
About Aztec Minerals
Aztec is a
mineral exploration company 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. The second project is the
district-scale historic Tombstone properties in Cochise County,
Arizona. 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:
neil@aztecminerals.com
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 securities legislation. Such
forwardlooking statements and information herein include
but are not limited to statements regarding Aztec's
anticipated performance in 2018 and the future,
including receipt of regulatory approval of the Option
Agreement, the exercise of the option on the Tombstone
properties, the planned exploration activities on
the Cervantes and Tombstone properties,
receipt of assay results from drilling on the Cervantes property,
the completion of further drilling on the Cervantes property,
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 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 mineral 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 assumptions management believes to be reasonable,
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, readers should not place undue reliance
on forward-looking statements or information.
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