Aztec Minerals (AZT.V) released assay results from nine more holes drilled at its Tombstone project in southeastern Arizona last month. Every hole encountered gold and silver in oxidized rock and in a number of holes, old underground workings interrupted the intervals or went unsampled. Most of the holes were step-outs placed 90 to 190 m west of the North Extension area, and the company now believes the oxide zone reaches about 190 m farther west than previously drilled. It says the mineralization has not been closed off to the west, north or below the drilled depths.
Holes TR26-45 and 48 stand out. Hole 45 because of the thickness with almost 116 meters containing 0.67 g/t gold-equivalent while hole 48 encountered ‘just’ 24.4 meters of mineralization but at a higher grade of 1.02 g/t gold-equivalent (of which 75% was actual gold with silver contributing the remainder of the gold-equivalent grade).
The fresh data from this drill program appears to indicate the mineralized system is continuing westward and downward, and this area will likely be the subject of additional drill programs in 2027. Another important element that will define where to drill next will be the upcoming maiden resource calculation which will be released later this month. It’s also worth emphasizing this maiden resource calculation will NOT take the most recent drill results into consideration, as those were released after the resource-cut off.
We are looking forward to seeing the results of that maiden resource calculation, as it will hopefully underpin the company’s current valuation.
Disclosure: The author has a long position in Aztec Minerals. Aztec is a sponsor of the website. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
