Aztec Reports Additional RC Drill Results from Tombstone Project, Arizona; Including 1.73 gpt Gold and 56.2 gpt Silver (2.53 gpt AuEq) over 64.0 m

Rhea-AI Summary

Aztec Minerals Corp. has reported results from its 2021 Phase 2 drilling program at the Tombstone project in Arizona. A total of 23 holes were drilled, with the last four (TR21-15 to 18) confirming extensive, high-grade oxidized gold-silver mineralization below the Contention Pit. Significant intersections include 1.73 gpt gold and 56.2 gpt silver (2.53 gpt AuEq) over 64 m in hole TR21-17. All four holes reached mineralization, extending known zones at depth and horizontally. The ongoing exploration targets further mineral expansions with assays pending for more holes.

Positive

• Confirmed extensive, high-grade oxidized gold-silver mineralization in recent drilling.
• Key intersections include 1.73 gpt gold and 56.2 gpt silver over significant lengths.
• All drilled holes reached mineralization, indicating potential for further discoveries.

Negative

• None.

• 4 more holes drilled under the north-central Contention pit confirm and expand the high grade, near surface, oxidized gold-silver mineralization
• 23-hole program results continue to expand the width and length of mineralization below the Contention Pit

VANCOUVER, BC / ACCESSWIRE / September 14, 2021 / Aztec Minerals Corp. (TSXV:AZT)(OTCQB:AZZTF) reports assay results for an additional four holes, TR21-15 to 18, from its now completed 2021, Phase 2, 23-hole, 2,716 metre reverse circulation (RC) drill program on the Tombstone project which covers most of the historic Tombstone silver mining district in southeastern Arizona.

The four holes were drilled on two fence patterns to infill between prior drill fences and to step out to the west from 2020 drilling reported previously in the north-central part of the Contention open pit. Every one of the four holes intersected near surface, oxidized gold-silver mineralization, and all four holes bottomed in mineralization.

Drill Highlights

• Hole TR21-15 - 0.22 grams per tonne (gpt) gold and 18.3 gpt silver (0.49 gpt gold equivalent (AuEq)) over 42.7 meters (m)
• Hole TR21-16 - 0.81 gpt gold and 15.9 gpt silver (1.04 gpt AuEq) over 64.0 m, including 3.61 gpt gold and 51.6 gpt silver (4.34 gpt AuEq) over 13.7 m
• Hole TR21-17 - 1.73 gpt gold and 56.2 gpt silver (2.53 gpt AuEq) over 64.0 m, including 6.46 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
• Hole TR21-18 - 0.76 gpt gold and 20.6 gpt silver (1.05 gpt AuEq) over 64 m, including 2.46 gpt gold and 37.0 gpt silver (2.99 gpt AuEq) over 9.1 m

Gold equivalents are calculated using a 70:1 silver:gold ratio. Reported lengths are apparent widths, not true widths. 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 folds in the Bisbee 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 four 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.

View drill sections here:

Link to section view holes TR21-15, TR21-16
Link to section view holes TR21-17 and TR21-18

All 4 holes intersected extensive gold and silver mineralization, see assay intervals in the table below, extending the mineralized zones at depth and along strike, below and west of the Contention open pit. Three of the four holes also intersected old mine workings, likely dating back to the late 1800's, indicating that some of the highest-grade bonanza mineralization in the area drilled was previously mined.

The drilled area is on the west side of the Contention Pit, adjacent to the area drilled in 2020 near the centre of the pit (central drill pattern), and measures at least 100 meters north to south along strike by up to 150 meters east-west, perpendicular to the west dip of the Contention mineralized structure, with gold-silver mineralization still open in all directions.

The drilled area reported herein demonstrates mineralization over a combined length of 440 meters from the 2020 and current drilling. Holes TR21-01 to 23 have been completed and sampled and each hole intersected similar widespread alteration and mineralization. The total area drilled in 2021 spans 550 m long by over 150 m wide and to maximum depths of 175 m. Final results are pending.

Tombstone RC Drilling Plan Map

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 manganese 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.

Drill Hole	From m	To m	Interval m*	Au gpt	Ag gpt	Au Eq gpt (1)	Comments
TR21-15	15.2	22.8	7.6	0.198	16.8	0.438
	39.6	82.3	42.7	0.225	18.34	0.487	Incl. Tunnel of 6.1 m
TR21-16	48.8	112.8	64.0	0.807	15.98	1.035	Incl. Partial Tunnel
Including	86.9	100.6	13.7	3.607	51.55	4.343
TR21-17	27.4	91.4	64.0	1.726	56.198	2.529
Including	32.0	42.7	10.7	4.076	59.4	4.925	Visible Gold
	82.3	85.4	3.04	6.455	274	10.369
TR21-18	36.6	100.6	64.0	0.755	20.61	1.049	Visible Gold
Including	77.7	86.8	9.1	2.458	37.0	2.987	Incl. Tunnel of 3 m
	106.7	128	21.3	0.147	11.679	0.313

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.

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 the first 18 holes. Samples are being 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 testing 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 targets along and adjacent to the Contention structure.

Allen David Heyl, B.Sc., CPG., VP Exploration, 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 30-gram sample size using the method FA430 followed by MA300. Over limits, when present, are analyzed by MA370 or FA530. All holes contain certified blanks, standards, and duplicates as part of the quality control program. The QA/QC has delivered excellent results to date good data integrity. Mr. Heyl 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 mineral 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: simon@aztecminerals.com
Website: www.aztecminerals.com

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) 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.

Forward-Looking Statements:

Certain statements contained in this press release may constitute forward-looking statements under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects" or "it is expected", or variations of such words and phrases or statements that certain actions, events or results "will" occur. These forward-looking statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, except as may be required by applicable securities laws.

SOURCE: Aztec Minerals Corp.

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FAQ

What are the recent drilling results for Aztec Minerals (AZZTF)?

Aztec Minerals reported significant gold-silver mineralization from its Tombstone project, with hole TR21-17 showing 1.73 gpt gold and 56.2 gpt silver over 64m.

How many holes were drilled in Aztec Minerals' 2021 Phase 2 program?

The 2021 Phase 2 program consisted of 23 holes, with results from the last four reported recently.

What is the significance of the recent assay results for AZZTF?

The recent assay results confirm and expand previously identified high-grade mineralization, enhancing the potential for further exploration success.

What are the geological characteristics identified in the latest drilling?

The drilling revealed low sulfidation epithermal gold-silver mineralization associated with quartz-feldspar porphyry dikes and significant alteration.

What is the future exploration plan for Aztec Minerals (AZZTF)?

Future exploration will focus on testing extensions of the mineralization and deeper targets adjacent to the Contention structure.