Aztec Minerals drills 0.68 g/t gold over 120 metres at Cervantes, Mexico

Aztec Minerals drills 0.68 g/t gold over 120 metres at Cervantes, Mexico

Aztec Minerals Corp. [AZT-TSXV; AZZTF-OTCQB] continues to intersect gold mineralization extending the California Zone to the North with initial assay results for five additional core holes from the recently completed the Phase 3 core drilling program at the 100%-owned Cervantes Project in Sonora, Mexico.

The results also extend the California mineralized and altered Qfp (Quartz-feldspar porphyry) intrusive complex to depth, toward the Southeast and Northerly directions. Results for hole CAL22-029, a step-out extending the California zone to the North, returned 57.0 metres grading 0.77 g/t gold.

Results for drill hole CAL22-027 in the West-Central area of the California Zone returned 120.0 metres grading 0.68 g/t gold. This drill hole confirms the California Zone mineralization in a gap and may be used for metallurgical testing.

Drilling has also expanded the footprint of the known extents of the mineralized and altered California Qfp intrusive complex to 400 metres depth and 450 metres to the Southeast and 60 metres to the North. Surface exposures of altered intrusive (Qfp), the principal host for the California target’s gold mineralization, that had been covered by colluvium have been found in the new drill road cut exposures for the 450-metre step-out between these recent core drill holes on the Southeast side.

To date, every hole except one, drilled at the California Zone target has intersected near surface, oxidized gold mineralization with minor copper values.

California Zone drill highlights included hole CAL22-027 that returned 120.0 metres of 0.68 g/t gold and CAL22-029 that returned 57.0 metres of 0.77 g/t gold.

The primary focus of the Phase 3 Core drilling program at Cervantes is to expand the previously drilled California target, California North and Jasper targets, to enhance geologic understanding of the targets, and to collect a sample for metallurgical testing.

Holes CAL22-025 to 029 intersected extensive gold related mineralization and alteration, see table below, extending the known mineralized zone at depth, to the north, and to the southeast. The area currently being drilled measures approximately 900 meters long E – W by 730 meters wide, with demonstrated, continuous mineralization of up to 170 meters in depth. The porphyry gold-copper mineralization is still open in all directions. Refer to original press release for complete drill results.

The planned testing of three main targets of the Cervantes Phase 3 core drilling program is complete. The primary objectives of the 2021-2022 exploration program are to better define the open pit, heap leach gold potential of the porphyry oxide cap at California, evaluate the potential for deeper gold-copper porphyry sulfide mineralization underlying the oxide cap, test for north and west extensions of the California mineralization at California North and Jasper, and collect samples for metallurgical testing.

After drilling concludes, Aztec will carry out channel sampling and geologic mapping of the new drill roads at California, California Norte and Jasper, as well as to expand surface sampling and mapping on the property in general to continue the 2021-2022 surface exploration program.

Cervantes is a highly prospective porphyry gold-copper project located in southeastern Sonora state. The project lies 160 km east of Hermosillo within the prolific Laramide porphyry copper belt.

Cervantes is a large well-located property (3,649 hectares) with good infrastructure, road access, local town, all private land, water wells on property, grid power nearby. There are seven prospective mineralized zones related to high level porphyries and breccias along a 7.0 km east-northeast corridor with multiple intersecting northwest structures.

In early 2022, Aztec completed a Phase 2, 26-hole, RC (reverse circulation) drill program totaling 5,267 metres focused on expanding the California zone with two drill hole fences parallel to and on either side of the 2017-18 Phase 1 drill hole fence. The Phase 2 RC drilling program successfully expanded the primary California zone to area now measuring approximately 900 metres long by 250 to 500 metres wide, with demonstrated, continuous anomalous mineralization up to 265 metres depth vertically.

The porphyry gold-copper mineralization is still open in all directions. Aztec’s drilling to-date has consistently intersected an oxidized gold cap to a porphyry-type gold-copper-silver system at California, including multiple 100+ meter widths of exceeding 0.40 g/t gold.

Additional targets include Purisima East, Estrella, Purisima West, Jasper and California North.

Other targets include porphyry alteration and geochemical soil anomalies mark the Jacobo and Brasil prospects but more work is required to expand and define these targets

Aztec has entered into an investor relations/marketing services agreement with Milestone Capital Partners Ltd. (MCP) to provide investor relations and marketing services for Aztec. The company will pay MCP a fee of EUR 60,000 for media/ad spending, management fees and any other expenses.