Aztec Reports Additional RC Drill Results from Tombstone Project, Arizona; Including 1.8 gpt Gold and 36.9 gpt Silver (2.33 gpt AuEq) over 70.1 m

Rhea-AI Summary

Aztec Minerals Corp. (TSXV:AZT)(OTCQB:AZZTF) reports results from four additional drill holes (TR21-11 to TR21-14) at its Tombstone project, confirming high-grade, near-surface oxidized gold-silver mineralization. The completed 23-hole program revealed significant findings, with TR21-13 achieving 1.8 gpt gold and 36.9 gpt silver over 70.1 meters. The drilling indicates continuity of mineralization both along strike and at depth, remaining open in all directions. The company aims to further explore the potential for a substantial bulk tonnage, epithermal gold-silver vein deposit.

Positive

• Four additional drill holes confirm high-grade mineralization with significant gold-silver intersections.
• Notable assay from TR21-13 shows 1.8 gpt gold and 36.9 gpt silver over 70.1 meters.
• Mineralization remains open in all directions, indicating further exploration potential.
• Completion of 23-hole program reinforces the continuity of historically significant mineralized zones.

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 8, 2021 / Aztec Minerals Corp. (TSXV:AZT)(OTCQB:AZZTF) reports assay results for an additional four holes, TR21-11 to 14, 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 step out to the south from prior drill fences 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 TR21-13 - 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 grading 55.71 gpt gold and 176.1 gpt silver (58.22 gpt gold equivalent AuEq). The hole bottomed in mineralization grading 0.37 gpt AuEq when ground caving forced early termination of the hole
• 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
• Hole TR21-12 - 0.27 gpt gold and 20.9 gpt silver (0.56 gpt AuEq) over 7.6 m
• Hole TR21-14 - Several intervals of low grade mineralization totaling 43 metres, including 0.32 gpt gold and 9.9 gpt silver (0.46 gpt AuEq) over 7.6 m, and 0.09 gpt Au and 11.6 gpt Ag (0.25 gpt AuEq) over 12.2 m, but this hole was drilled steeply to the west so does not appear to have tested the down dip potential of holes 21-10 and 11.

Aztec CEO, Simon Dyakowski commented, "Our 2021 RC drill program has now been completed and the results continue to return strong grades over broad widths, confirming and expanding the historic gold and silver mineralized zones both along strike and down dip. Holes 21-11 to 14 confirm the geological continuity between the 2021 drill holes and 2020 and earlier historic USMX drill holes, and the mineralization remains open in all directions."

"Our 2020 and 2021 drill programs targeted the near-surface mineralization around and below the Contention pit for a substantial bulk tonnage, epithermal gold-silver vein deposit with open pit, heap leach potential, and results to date have clearly confirmed this potential. Once we have reported the remainder of the 2021 drill results, we will consider a Phase 3 core drill program to continue extending the near surface, oxidized gold-silver mineralization to depths of 150-200 m, as well as some much deeper 500-750 m holes to test for "Taylor" CRD polymetallic massive sulfide mineralization underlying the near surface epithermal mineralization."

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 fold noses 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 20 to 100% of the apparent widths, with the norm for the mineralized true widths being 60 to 100% of the apparent widths.

View drill sections here:
Link to section view holes TR21-10, TR21-11, and TR21-14
Link to section view holes TR21-12 and TR21-13

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. Two 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 50 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 420 meters from the 2020 and current drilling. Holes TR21-17 to 23 have been completed and sampled and each hole intersected similar widespread alteration and mineralization. The total area drilled in 2021 spans 520 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
TR21-11	4.6	21.3	16.7	0.17	6.04	0.256
	57.9	65.5	7.6	0.069	12.38	0.256
	82.3	106.7	24.4	1.198	71.64	2.221
TR21-12	83.8	91.5	7.6	0.266	20.9	0.565
TR21-13	82.3	152.4	70.1	1.804	36.90	2.331
TR21-14	18.3	30.5	12.2	0.087	11.65	0.254
	61.0	68.6	7.6	0.323	9.9	0.464
	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

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 14 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 50-gram sample size using the method FA450 followed by AQ200. Over limits, when present, are analyzed by AR404 or FA550. 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 were the results of the latest drilling at the Tombstone project by Aztec Minerals (AZZTF)?

The recent drilling confirmed high-grade oxidized gold-silver mineralization, with notable results including TR21-13 showing 1.8 gpt gold and 36.9 gpt silver over 70.1 meters.

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

Aztec Minerals completed a total of 23 holes in its 2021 Phase 2 drilling program on the Tombstone project.

What is the significance of the assay results from the recent drill holes for AZZTF?

The assay results indicate strong grades and continuity of gold-silver mineralization, which could enhance the project's economic viability and provide a basis for further exploration.

What are the next steps for Aztec Minerals after the latest drilling results?

Aztec Minerals is considering a Phase 3 core drill program to extend the near-surface mineralization and explore deeper targets.