Aztec Minerals (AZT.V) has released the assay results of three holes (3, 4 and 5) it drilled at Tombstone. Drilling conditions are still not easy due to the presence of underground mine workings and all three holes whose assay results were released earlier today encountered stopes with some of them dating back to the late 1800s (hole 5, the best hole of the update, even intersected four different levels of mine workings). Fortunately the drill rig was able to punch through them without losing the holes.

Hole 4 is relatively uninspiring with 35 meters containing 0.36 g/t AuEq (consisting of 0.12 g/t gold and the remainder coming from the 19.14 g/t silver credit), while hole 3 was already quite a bit better with 62.5 meters of 0.77 g/t gold-equivalent (including 0.47 g/t gold and 24 g/t silver). But the real barn-burner and the hole that allowed Aztec to write a nice title for its press release is hole 5.

That hole encountered 36 meters of 5.02 g/t gold-equivalent (consisting of 2.82 g/t gold and 176.64 g/t silver) including a higher grade zone of 15.5 meters of 11.55 g/t gold-equivalent (with 6.45 g/t gold and 408.47 g/t silver). Hole 5 was drilled as a vertical hole starting at the bottom of the southern portion of the main Contention pit, near the second level of the underground mine. All mineralization appears to be oxidized but this shouldn’t be a problem considering the silver leaches well.

Assay results of four of the seven holes have now been released and we expect to see the lab results from the final three holes shortly. When those are out, we will catch up with CEO Simon Dyakowski and provide a more extensive update on the Tombstone project.

Disclosure: The author has a long position in Aztec Minerals. Aztec is a sponsor of the website. Please read our disclaimer.

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