Aztec Minerals (AZT.V) has provided an exploration update on its Tombstone project in Arizona (where documented historical production totalled 32 million ounces of silver and 250,000 ounces of gold). The company has now reviewed the previous drilling and surface exploration data and is now in the final stages to develop new drill targets on the project. The low-hanging fruit would be to continue to expand the gold-silver oxide mineralization near the historical Contention Pit and get the company (and project) in a position to consider to start working on a resource calculation.
Previous drill results have indeed encountered thick layers of oxide mineralization with some excellent grades with for instance 125 meters of 1.63 g/t gold-equivalent, 96 meters of 2.2 g/t gold-equivalent and ‘shorter’ but higher-grade intervals like 32 meters containing 6.28 g/t gold-equivalent.
The image above shows where the low-hanging fruit can be fond as there are some initial exploration targets directly west, east and towards the south along strike of the old Contention pit. But in an initial phase, the Q2 surface exploration program will help the company to gain knowledge on where and how to drill first to maximize the impact of a future drill program.
Disclosure: The author has a long position in Aztec Minerals. Aztec is a sponsor of the website. Please read the disclaimer.
