Aztec Minerals (AZT.V) has signed a definitive agreement to acquire the final parcels of land on the Tombstone project it was interested in. The newest agreement includes 241 acres of surface rights and 414 acres of mineral rights associated with several patented mining claims. The total cost of this acquisition is just US$241,000 in cash while Aztec takes care of the back taxes owed on the parcels as well. This completes a comprehensive land package expansion that has been in the making for months, as shown by the bullet points below.
The total size of the Tombstone project has now increased to 2,500 acres, allowing the company easier access to its preferred drill locations. Assay results from an additional 11 holes are still pending and we expect to see an update on those results soon. Once all the assays have been received, the company’s independent consultants will start working on a resource calculation at Tombstone.
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.
