September 29th, 2021 | 12:04 CEST
AZTEC MINERALS - Fantastic drill results
Table of contents:
"[...] We have a clear strategy for neutralizing sovereign risk in Papua New Guinea. [...]" Matthew Salthouse, CEO, Kainantu Resources
Phase 2 of 2021 Drilling Program completed
The Vancouver-based company is committed to discovering large, polymetallic mineral deposits in the Americas. The Canadians' core asset is the Cervantes project in Sonora, Mexico, which is operated as a joint venture with Kootenay Silver Inc, in which Aztec holds a 65% majority interest. The second prospective property in the portfolio is the Tombstone joint venture project in the historic Tombstone silver mining district in southeastern Arizona, USA. The ownership share of the Canadians is 75% here.
Now Aztec Minerals reported fantastic Tombstone drill results with data from the final five holes (TR21-19 to 23) of the now completed 2021 Phase 2 drill program. The campaign consisted of 23 holes and 2,716 meters. All five holes intersected extensive and near-surface gold and silver mineralization and extended zones of mineralization at depth and along strike, below and west of the Contention open pit. The holes were drilled along the west side of the northern and central portions of the Contention open pit. They intersected mineralization over a north-south length of 400 meters, an east-west width of up to 150 meters and a maximum depth of 175 meters.
Near-surface gold-silver mineralization confirmed and extended
According to the Company, each of the five drill holes intersected near-surface, gold-silver mineralization, and three holes intersected old adits where most of the high-grade ore is believed to have been previously mined. Outstanding is that all five drill holes ended in high-grade mineralization. Four of the five holes ended in a zone of mineralization that showed incredible values ranging from 1,045 g/t gold equivalent to 1,997 g/t gold equivalent! All indications are that the main mineralized zones are open at depth and laterally.
Drill hole TR21-22 returned the best results. Over a length of 65.5m, a gold equivalent of 3.39 g/t was detected near surface, at depths ranging from 21.3m to 86.9m. Within a deeper interval (77.8 to 85.4m), a high value of 22.15 g/t gold equivalent was detected over 7.6m. The drilling ended in a mineralized zone of a whopping 1,045 g/t gold equivalent.
CEO Simon Dyakowski was pleased with the solid results. He continued, "Our 2020 and 2021 drill programs targeted the near-surface mineralization around and below the Contention pit to find an epithermal gold-silver vein deposit with significant tonnage and potential for open pit heap leach mining, and the results to date have clearly confirmed this potential. Having reported final drill results for 2021, we will now consider a Phase 3 core drilling program to extend the near-surface oxidized gold-silver mineralization to depths of 150-200m, as well as some much deeper holes at depths of 500-750m to test the Taylor polymetallic CRD massive sulphide mineralization underlying the near-surface epithermal mineralization."
The 2020 and 2021 drill area covered a length of 900 meters, a width of more than 230 meters and a maximum depth of 175 meters, leaving gold-silver mineralization open in all directions. According to the Company, most of the silver and gold mineralized zones intersected in the 2020 and 2021 drill programs are located near and within the hanging wall and footwall of old underground pits.
Main objective achieved with flying colors
The main objective of the completed drill program was to further test near-surface, bulk-tonnage and epithermal gold-silver mineralization adjacent to and below the previously mined Contention pit through infill and step-out drilling. This objective has been achieved with flying colors, with the impressive drill results now released. The share price should react positively to the excellent data and the resulting potential. Future drilling is expected to focus on strike and dip extensions of the near-surface mineralization and go deeper to test larger, deeper targets. The Company's valuation of only CAD 16 million does not reflect the quality and potential of the projects.
Conflict of interest
Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as "Relevant Persons") may in the future hold shares or other financial instruments of the mentioned companies or will bet on rising or falling on rising or falling prices and therefore a conflict of interest may arise in the future. conflict of interest may arise in the future. The Relevant Persons reserve the shares or other financial instruments of the company at any time (hereinafter referred to as the company at any time (hereinafter referred to as a "Transaction"). "Transaction"). Transactions may under certain circumstances influence the respective price of the shares or other financial instruments of the of the Company.
Furthermore, Apaton Finance GmbH reserves the right to enter into future relationships with the company or with third parties in relation to reports on the company. with regard to reports on the company, which are published within the scope of the Apaton Finance GmbH as well as in the social media, on partner sites or in e-mails, on partner sites or in e-mails. The above references to existing conflicts of interest apply apply to all types and forms of publication used by Apaton Finance GmbH uses for publications on companies.
Apaton Finance GmbH offers editors, agencies and companies the opportunity to publish commentaries, interviews, summaries, news and etc. on news.financial. These contents serve information for readers and does not constitute a call to action or recommendations, neither explicitly nor implicitly. implicitly, they are to be understood as an assurance of possible price be understood. The contents do not replace individual professional investment advice and do not constitute an offer to sell the share(s) offer to sell the share(s) or other financial instrument(s) in question, nor is it an nor an invitation to buy or sell such.
The content is expressly not a financial analysis, but rather financial analysis, but rather journalistic or advertising texts. Readers or users who make investment decisions or carry out transactions on the basis decisions or transactions on the basis of the information provided here act completely at their own risk. There is no contractual relationship between between Apaton Finance GmbH and its readers or the users of its offers. users of its offers, as our information only refers to the company and not to the company, but not to the investment decision of the reader or user. or user.