Aztec Minerals (AZT.V) has released the assay results from fourteen additional holes that have been drilled at the Tombstone property in Arizona. The results of these RC holes, as well as their location, is quite interesting. Several of the holes expand the Contention Main target area to the west and depth including a highlighted intersection of almost 113 meters containing 0.48 g/t gold and 12.6 g/t silver (0.60 g/t AuEq using a 60:1 silver:gold ratio before taking recovery rates into account).
All 14 holes intersected mineralization (with varying grades, of course, some are good, some are a bit weaker – all results (good and bad) can be found in the company’s extensive update) and confirm the continuity of the mineralization. These results should hopefully be sufficient for Aztec Minerals to start working on a maiden resource estimate after the completion of the current 17,000 meter drill program at Tombstone.
In his CEO comment, CEO Dyakowski highlighted the potential to significantly increase the near-surface gold-silver oxide material at Tombstone. The focus is now on the Westside area and Southwest targets of the property while additional new targets (Ingersoll, Hard-up and Independence) are now being drill-tested as well. Those new targets are pretty shallow and within wheelbarrow distance from the historic and historical open pit operations.
Meanwhile, the core drill program is ongoing with average success. Unfortuantel the company had to abandon hole TC25-04 at a depth of almost 832 meters due to drillhole caving, before it reached the target depth of 1,000 meters. The core rig is currently working on the 7th attempted hole and TC26-03 is targeting the central portion of the Contention mineralization. The RC drill program appears to be more successful as it is less hindered by the sometimes poor conditions. And that’s fine, as the RC rig is drilling for the oxide-hosted mineralization which is the low-hanging fruit on the property.
We visited the Tombstone project in Arizona just last week and saw both the RC drill rig and the core rig at work. We will publish a site visit report in the near future.
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.
