Further Intersections On The Tombstone Property

VANCOUVER - Aztec Minerals Corp. reported on the ongoing 2024 drilling program at the Tombstone Property in Southeastern Arizona has further intersected broad gold-silver oxide mineralized zones in its subsequent step out RC drill holes in the Contention Open Pit target area.  Results for hole TR24-05 intersected 114.3 m at 0.60 gpt AuEq (0.39 gpt Au and 16.61 gpt Ag); including 10.7 m at 1.99 gpt AuEq (1.55 gpt Au and 34.6 gpt Ag).  Hole TR24-03 intersected 0.23 gpt Au and 10.43 gpt Ag (0.36 gpt AuEq) over 35.1m and 0.33 gpt Au and 9.8 gpt Ag (0.45 gpt AuEq) over 88.4m, and hole TR24-04 intersected 0.24 gpt Au and 15.58 gpt Ag (0.38 gpt AuEq) over 123.5m including 6.1m of 1.74 gpt Au and 54.75 gpt Ag (2.42 gpt AuEq).

The Contention area step-out drill holes have targeted shallow zones, associated with recently completed surface exploration and 3D geological modelling, prospective for wide oxide gold-silver mineralization.  The 2024 RC drilling program has now completed 15 RC drill holes of Contention area step out targets and Westside Area first pass targets with results from the first 5 holes now announced.  Visual observations of the drilled sample materials and initial assay results continues to validate Aztec’s geological exploration model.

Hole TR24-03 - 0.23 gpt Au and 10.43 gpt Ag (0.36 gpt AuEq) over 35.1m, and 0.33 gpt Au and 9.8 gpt Ag (0.45 gpt AuEq) over 88.4m including 9.1m grading 1.67 gpt Au and 20.43 gpt Ag (1.92 gpt AuEq). The hole was oriented azimuth 105, -60, and was designed to test for westerly and down dip extensions of mineralization under the Contention pit west wall and to depth. Two mine tunnels were intercepted.  The interval is composed of siliciously and argillically altered, lower Bisbee group fine-grained sandstones/quartzites, siltstones/hornfels cut by quartz-feldspar porphyry dikes, hydrothermal breccias and faults/fissures with quartz veining.  Moderate to strong iron oxides, manganese oxides, orange to red color, and 1 to 10% oxidized pyrite sites.  The drill hole had to be abandoned due to caving.

Hole TR24-04 - 0.24 gpt Au and 15.58 gpt Ag (0.38 gpt AuEq) over 123.5m, ending in mineralization and including 6.1m grading 1.74 gpt Au and 54.75 gpt Ag (2.42 gpt AuEq). The hole was oriented vertically (azimuth 0, -90) and was designed to test under the Contention pit and for down dip extensions of mineralization under the Contention pit east wall and to depth. The interval is composed of siliciously and argillically altered, lower Bisbee group fine-grained sandstones/quartzites, siltstones/hornfels cut by quartz-feldspar porphyry dikes, hydrothermal breccias and faults/fissures with quartz veining.  Moderate to strong iron oxides, manganese oxides, orange to red color, and 1 to 5% oxidized pyrite sites.  

Hole TR24-05 – 0.39 gpt Au and 16.61 gpt Ag (0.60 gpt AuEq) over 114.3 m andincluding 10.7 m at 1.55 gpt Au and 34.6 gpt Ag (1.99 gpt AuEq). The hole was oriented azimuth 105, -60, and was designed to test for westerly and down dip extensions of mineralization under the Contention pit west wall and to depth. The interval is composed of siliciously and argillically altered, lower Bisbee group fine-grained sandstones/quartzites, siltstones/hornfels cut by quartz-feldspar porphyry dikes, hydrothermal breccias and faults/fissures with quartz veining.  Moderate to strong iron oxides, manganese oxides, orange to red color, and 1 to 5% oxidized pyrite sites.

The primary objectives of the drilling program are to: Expand the known mineralization horizontally to the west and down dip beyond the holes drilled by Aztec in 2020-23 at the Contention Pit with step outs to enlarge the shallow, broad, bulk tonnage gold-silver mineralization discovered there; and also, to explore with first pass drilling new targets identified in the Westside area.

The initial seven RC holes were drilled as part of a “fan grid pattern” being drilled in the Contention area since 2020.  The subsequent RC drill holes are to test for extensions on the western and eastern borders and also underneath of the north-trending main Contention target zone which hosts the historic underground and open pit Contention mine.  The drill program continues to identify pervasively oxidized and hematite-rich, silicified hydrothermal breccias composed of quartz feldspar porphyry dike and Bisbee Group clastic sedimentary fragments, typical of the material mined historically at the Contention Mine.

Additional mineralization types continue to be outlined by the current drilling including: manganese replacements in limestone beds and skarns, quartz veinlets, sulfide relicts as disseminations, silicification of altered hornfels, quartz feldspar porphyries and hydrothermal breccias.  To date, TR24-07 is the deepest hole drilled, has an inclination of -60 degrees and was drilled to a depth of 256.1 m (221.7 m vertical) remaining in mineralized and oxidized rocks the majority of its length.

The initial drilling results show that the Contention area mineralization is still open to the west and to depth and the mineralized volume is expanding.

Aztec holds a 77.7% interest in the Tombstone property, which includes the majority of the original main mining district.  The main target of the current RC drill program is to test for shallow, bulk tonnage, heap leachable, mesothermal gold-silver oxide mineralization adjacent and below the previously mined Contention pit.  The current drilling program will continue the testing of the Contention target zone and then the complete Aztec’s first drilling in the Westside target zone which is comprised of several demonstrated mineralization focusing structures – anticlines, quartz stringer fissure lodes, and quartz feldspar porphyry dikes.

Future drilling is expected to focus on extensions of the shallow oxide mineralization already tested, as well as larger, deeper “Taylor-type” CRD targets along and adjacent to the Contention structures.