Junior Continues to Hit Strong Oxide Gold Intercepts


This junior miner, after repeatedly reporting robust drill outcomes, may very well be nicely on its option to delineating an estimated 800-1,100koz Au oxide gold useful resource close to floor at its undertaking in Sonora, Mexico.

After drilling a stellar intercept of 136.8 meters at 1.49 g/t Au three weeks in the past from the California Zone at their majority owned and operated (65/35 JV with Kootenay Silver) Cervantes gold undertaking in Sonora, Mexico, Aztec Minerals Inc. (AZT:TSX.V; AZZTF:OTCQB) continues to publish extra goodies, this time considerably extra regular highlights of 138.3 meters at 0.58 g/t Au and 54.7 meters at 0.88 g/t Au. Be mindful many of the mineralization is oxidized, as Aztec is drilling the oxide cap of a porphyry goal mannequin, and something over 0.40-0.45 g/t Au oxidized with a good strip ratio may very well be fairly financial at gold costs over $1,500/oz Au. Mixed with different outcomes reported in February just like the 88.4 meters at 1.1 g/t Au and 167.2 meters at 1.0g/t Au intercepts, Aztec appears to be firmly on its option to a major maiden useful resource later this 12 months.

It appears the 2021-2022 Section 2 drill program aimed on the California goal at Cervantes goes as deliberate, as all assays getting back from the labs ship robust outcomes. This system itself has been accomplished now, with 26 RC holes totaling 4,649m drilled, assays of 10 holes reported, 4 holes have been drilled on the Purisima goal with restricted success, with the stability of assays of 12 holes pending. The newest highlights are:

  • 54.7 meters at 0.88 g/t Au in mineralized quartz feldspar porphyry and hydrothermal breccias, together with 13.7 meters at 1.965 g/t Au in CAL22-008, situated on the southern fringe of the japanese a part of the mineralized zone.
  • 86.6 meters at 0.50 g/t Au in mineralized porphyries and hydrothermal breccias in CAL22-009 situated on the southern fringe of the central portion of the mineralized zone.
  • 138.3 meters at 0.53 g/t Au in mineralized porphyries and hydrothermal breccias, together with 10.67 meters of 1.622 g/t Au in CAL22-010, situated within the central portion of the mineralized zone.

Reported lengths are obvious widths, not true widths, and the noticed gold mineralization seems to be broadly distributed in disseminations, fractures, and veinlets inside quartz-feldspar porphyry, feldspar porphyry shares, and associated hydrothermal breccias. A piece of CAL22-010 is proven under:

The objective is to increase the identified mineralized envelope, ensuing from the Section 1 2017-2018 drill program. Previous (black collars) and new drilling (blue and purple collars) will be seen on the next map:

As will be concluded, the Section 1 program roughly centered on the highest of the ridge, whereas Section 2 is increasing north, south and east of this. The aforementioned stellar gap was CAL22-005, not too far-off from CAL22-010. Gold mineralization in 010 was additionally intensive over 138 meters, however at nearly one-third of the common grade of 005. The results of 005 was a shock, because the close by gap 18CER007 returned 122 meters at 0.60 g/t Au, and one other gap near 005, gap 18CER006, returned 170 meters at 0.42 g/t Au. In your comfort, right here is the desk of the Section I program once more, for comparability:

I questioned how these variations in grades might occur inside a 30-50 meter distance, as oxide deposits are often extra steady, and the place this comparatively excessive grade might come from, as the mix of size and common grade for 005 is exclusive. Might this be an area vein construction alongside a fault, or a feeder system? Chief Govt Officer Simon Dyakowski had this to say: “Additional drilling is unquestionably required to know the zonation and structural controls of the mineraliziation.”

For the reason that most japanese holes (CAL22-015, 016 and 019) haven’t returned outcomes but, it’s arm waving at greatest, however with the latest and historic drill outcomes I consider it’s doable to conservatively estimate a mineralized envelope of 800x250x80x2.7=43.2Mt, and utilizing an estimated common grade of 0.6 g/t Au we might arrive at a hypothetical 833koz Au. If the remaining holes return intercepts alongside my estimated common vary of 80 meters at 0.60 g/t Au or higher, then the envelope might improve to a hypothetical 900x300x80x2.7=58.3Mt, producing an arm waving 1.125Moz Au. Let’s wait and see, because the outcomes of 12 holes are on its method.

Moreover going after extra oxides, let’s not overlook Aztec can be searching massive porphyry targets at depth at Cervantes. Deeper assessments have been deliberate at California goal as a part of this drill program to check the massive IP chargeability anomaly at depth, however Aztec wasn’t in a position to get a deep take a look at sadly, because the RC drill rig failed under the water desk. Due to this the following spherical of drilling will embrace core drilling. The stability of the Section 2 program examined a gold-in-soil anomaly at California Norte, and an outcrop on the Jasper goal. The outcomes are anticipated within the coming weeks.

Aztec is finishing up channel sampling and geologic mapping of the brand new drill roads in the meanwhile at California, California Norte, and Jasper, in addition to increasing floor sampling and mapping on the property basically, so as to proceed the 2021 Section 1 floor program. After this, all exploration outcomes will seemingly be launched, it is going to be most certainly time to do one other elevate, and, contingent on the present program outcomes, and obtainable funds, administration might plan extra drilling this spring season. Because the outcomes at California don’t precisely disappoint, it appears solely logical to comply with up with one other drill program. Dyakowski had this to say about it: “We’re within the planning levels, however early pondering is to drill once more in Might-June, with a mixture of RC step outs, and Core deep drilling, roughly 5,000 meters.”

As a reminder, the Cervantes oxides aren’t the one factor Aztec is seeking to discover, as it is usually planning a drill program for his or her Tombstone gold-silver oxide undertaking (topic to a 75/25 JV with Aztec because the operator) in Arizona for the summer season, additionally enabling them to go after massive porphyry/CRD potential at depth at each initiatives. A diamond drill program is deliberate for the summer season of this 12 months, once more contingent on obtainable funds. This upcoming Section 3 drill program can be designed to focus on deeper epithermal gold-silver mineralization under the competition pit, and the coveted deep CRD silver-lead-zinc-copper-gold mineralization in Paleozoic limestones underlying the Bisbee Sediments.

Conclusion

Aztec Minerals goes from power to power with its Section 2 drill program on the California goal at Cervantes. Gap 004 already was significantly better than anticipated with 167 meters at 1 g/t Au from floor, however administration shocked traders additional with gap 005 (136.8 meters at1.48 g/t Au), and continued to ship very stable outcomes as for instance gap 010 returned 138 meters at 0.53 g/t Au. Since most mineralization seems to be oxidized and/or heap leachable with a really low strip ratio, and my hypothetical again of the envelope estimate factors in the direction of 800koz – 1.1Moz Au useful resource potential at a reasonably financial grade, it appears Aztec is on its option to delineate their first firm making asset. Which isn’t all, as they’ve three different alternatives. Keep tuned.

I hope you can find this text fascinating and helpful, and could have additional curiosity in my upcoming articles on mining. To by no means miss a factor, please subscribe to my free e-newsletter at www.criticalinvestor.eu, so as to get an electronic mail discover of my new articles quickly after they’re revealed.

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All offered tables are my very own materials, except acknowledged in any other case.

All photos are firm materials, except acknowledged in any other case.

All currencies are in US {Dollars}, except acknowledged in any other case.

Please be aware: the views, opinions, estimates, forecasts or predictions relating to Aztec’s useful resource potential are these of the creator alone and don’t characterize views, opinions, estimates, forecasts or predictions of Aztec or Aztec’s administration. Aztec has not in any method endorsed the views, opinions, estimates, forecasts or predictions supplied by the creator.

The Crucial Investor is a e-newsletter and complete junior mining platform, offering evaluation, weblog and newsfeed and all kinds of details about junior mining. The editor is an avid and important junior mining inventory investor from The Netherlands, with an MSc background in development/undertaking administration. Quantity cruncher at undertaking economics, in search of high-quality corporations, largely development/turnaround/catalyst-driven to keep away from an excessive amount of dependence/affect of long-term commodity pricing/market sentiments, and infrequently in search of long-term deep worth. Getting burned up to now himself at junior mining investments by following overly constructive sources that as a rule prevented to say (hidden) dangers or vital flaws, The Crucial Investor realized his lesson nicely, and goes a couple of steps additional ever since, offering a contemporary, extra in-depth, and important imaginative and prescient on issues, therefore the identify.

The creator isn’t a registered funding advisor, and has an extended place on this inventory. Fancamp Exploration is a sponsoring firm. All details are to be checked by the reader. For extra data go to www.fancamp.ca and browse the corporate’s profile and official paperwork on www.sedar.com, additionally for necessary danger disclosures. This text is supplied for data functions solely, and isn’t supposed to be funding recommendation of any variety, and all readers are inspired to do their very own due diligence, and speak to their very own licensed funding advisors prior to creating any funding choices.

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