Aztec Minerals (AZT.V) has released the assay results from the final 10 holes drilled as part of a 13 hole winter drill campaign. As a reminder, this drill program was designed as a step-out drill program to expand the California zone of its Cervantes project in multiple directions. All 10 holes the company just reported on contained gold mineralization and the company highlighted three holes in its press release: holes 35,41 and 44.
Needless to say hole 035 likely was the best hole of the batch thanks to its grade exceeding half a gramme of gold per tonne but hole 41 is a close second as the interval is longer but at a lower average grade. Still a good way to build tonnage at a grade that should exceed the cutoff grade for these types of deposits. But given the location of both holes (with mineralization literally starting at surface), we should perhaps look at them on a combined basis as holes 35, 41 and 42 are allowing the company to continue to chase mineralization further west. Hole 42 encountered 12.2 meters of 0.48 g/t at surface and 7.6 meters of 0.35 g/ t gold at a down-hole depth of 65.5 meters.
According to Aztec Minerals, the California zone now has a mineralized area of about 1,000 meters long, 730 meters wide and reaching depths of up to 170 meters, while remaining open in all directions. Of course not all mineralization will meet the required cutoff grade so we will have to wait for the company to release a resource calculation to see what it is sitting on but finding more gold on the western edges of the mineralized zone bodes well for tonnage and ounces.
Disclosure: The author has a long position in Aztec Minerals. Aztec is a sponsor of the website. Please read the disclaimer.