Strong Results Continue for Junior in Mexico


This junior miner seems to be proving up 1 Moz heap leachable gold with ease, as additional step-outs from the northern heart a part of its Cervantes mission have returned a couple of wonderful outcomes.

There appears to be no stopping Aztec Minerals Corp. (AZT:TSX.V; AZZTF:OTCQB) because it retains reeling in excellent drill outcomes from the California Zone at its majority owned and operated (65%-35% JV with Kootenay Silver Inc. [KTN:TSX.V]) Cervantes gold mission in Sonora, Mexico. Earlier intercepts of 167.2 meters a 1.0 g/t Au, 136.8 meters a 1.49 g/t Au, 138.3 meters at 0.58 g/t Au, and 88.4 meters at 1.1 g/t Au have been already wonderful, and the at the moment reported batch of drill outcomes added considerably to the northern heart facet of the mineralized envelope. Three out of the reported 4 holes returned fairly financial outcomes once more, with the spotlight being 152.4 meters at 0.87 g/t Au. Bear in mind a lot of the mineralization is oxidized, and no less than for my part it appears increasingly more seemingly Aztec Minerals is surpassing the 1 Moz Au useful resource quantity now.

The 2021-2022 Section 2 RC drill program aimed on the California goal at Cervantes has now been accomplished, for a complete of 26 holes with 4,649 meters drilled, and assays of 14 holes reported. 4 holes have been drilled on the Purisima goal with restricted success so these weren’t reported, with the stability of assays of eight holes pending. The most recent highlights are:

  • 0.43 g/t Au over 132.2 meters in mineralized quartz feldspar porphyry and hydrothermal breccias in CAL22-011, together with 12.2 meeters of 1.29 g/t Au situated on the northern fringe of the central portion of the mineralized zone.
  • 0.87 g/t Au over 152.4 meters in mineralized porphyries and hydrothermal breccias in CAL22-012, together with 33.5 meters of two.05 g/t Au situated on the northern fringe of the central portion of the mineralized zone.
  • 0.48 g/t Au over 54.9 meters in mineralized porphyries and hydrothermal breccias in CAL22-014, situated on the northern fringe of the jap portion of the mineralized zone.

Gap CAL22-013 was unusual because it was near stellar gap CAL22-012, however had by far the bottom reported intercept to date, with 7.7 meters at 0.209 g/t Au. I don’t thoughts one outlier amidst a barrage of tremendous holes, although. Bear in mind 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. The plan map of the California drill program could be seen right here:

With a little bit of zooming in on drill collars for higher visibility:

An important takeaway right here is the truth that holes 011 and 012 are situated about 100 meters north and east of the closest reported holes to date. As such, they symbolize a whole step-out zone to the north, including appreciable tonnage in response to my back-of-the-envelope calculations. By hook or by crook, mineralization drops off notably in the direction of gap 013, so I’ll take this into consideration when doing my guesstimates. All reported outcomes from the Section 2 program to date could be discovered within the following desk beneath:

  

Once more on your comfort, right here is the desk of the Section 1 program once more, supplied by Aztec, for comparability:

As holes CAL22-005, 18CER005, and 18CER006 have generated outcomes corresponding to CAL22-11 and CAL22-012, I think about this zone kind of steady. Since gap CAL22-013 hardly returned something corresponding to all different outcomes, and close by gap 18CER-004 had very low grade as nicely, it’s justified to make use of a conservative strategy when estimating and have mineralization drop off progressively from CAL22-12 to CAL22-13. Fortuitously grades and lengths decide up once more when going extra to the east, with CAL22-14, 18CER-003, and 18CER-017. A barely total wider and thicker mineralized hypothetical envelope of 800x275x85x2.7=50.5 Mt could be estimated now, and utilizing an estimated common grade of 0.6 g/t Au we’d arrive at a hypothetical 974 koz Au, which could be very near the essential 1 Moz Au threshold, which might put Aztec firmly on the radar of mid tier producers. If the remaining holes return intercepts alongside my estimated common vary of 85 meters at 0.60 g/t Au or higher, then the envelope might improve to a hypothetical 900x300x85x2.7=61.9 Mt, producing a possible 1.195 Moz Au.

As administration is considering a 5,000 meter observe up mixture drill program of RC and diamond drilling at California in Could/June, not solely will the close to floor heap leachable mineralization be explored, however the diamond drilling might be utilized to drill at depth for giant porphyry targets, indicated by a big IP chargeability anomaly. Aztec can also be finishing up channel sampling and geologic mapping of the brand new drill roads in the intervening time at California, California Norte, and Jasper, and is increasing floor sampling and mapping on the property typically so as to proceed the 2021 section 1 floor program.

As a reminder, the Cervantes oxides aren’t the one factor Aztec is trying to discover, as it’s also planning a drill program for its Tombstone gold-silver oxide mission (topic to a 75%-25% JV with Aztec because the operator) in Arizona for the summer time, additionally enabling them to go after giant porphyry/CRD potential at depth at each tasks. A diamond drill program is deliberate for the summer time of this yr, once more contingent on out there funds. This upcoming Section 3 drill program might be designed to focus on deeper epithermal gold-silver mineralization beneath the rivalry pit, and the coveted deep CRD silver-lead-zinc-copper-gold mineralization in Paleozoic limestones underlying the Bisbee Sediments. It appears with the California drill outcomes persevering with to substantiate and exceed expectations, and certain indicating a 1 Moz Au heap leachable useful resource, Aztec is fascinating the markets, with volumes not seen in a very long time:

Share worth six-month timeframe (Supply: tmxmoney.com)

With a gold worth closing in on $2,000/oz Au once more, traders appear to develop into increasingly more satisfied of the Aztec Minerals story. As such, I consider there might be loads of curiosity for the upcoming spherical of financing.

Conclusion

As an investor, you’ll be able to’t actually ask for extra relating to an exploration junior like Aztec Minerals. Virtually all assayed drill holes on the California goal at Cervantes are returning fairly to very financial outcomes, and the continuity is wonderful. Thus far, solely solely two out of a mixed complete of 31 holes (Section 2 and three) weren’t financial, which is uncommon. In accordance with my estimates, Aztec could possibly be very near the magical 1 Moz Au useful resource quantity now. For the reason that strip ratio is extraordinarily low total (possibly even lower than 1), and plenty of intercepts are nicely over 100 meters lengthy, I count on California to be very financial. All superlatives apart, we nonetheless need to take note of that Aztec has three extra alternatives for vital deposits: California at depth (porphyry), Tombstone oxides, and this second mission additionally has a goal at depth (CRD kind mineralization). Keep tuned!

I hope you’ll discover this text attention-grabbing and helpful, and can have additional curiosity in my upcoming articles on mining. This text can also be printed on www.criticalinvestor.euTo by no means miss a factor, please subscribe to my free publication, so as to get an e-mail discover of my new articles quickly after they’re printed.

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

All footage are firm materials, until acknowledged in any other case.

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

Please notice: the views, opinions, estimates, forecasts or predictions relating to Aztec’s useful resource potential are these of the writer alone and don’t symbolize views, opinions, estimates, forecasts or predictions of Aztec or Aztec’s administration. Aztec has not in any manner endorsed the views, opinions, estimates, forecasts or predictions supplied by the writer.

The Crucial Investor is a publication 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 building/mission administration. Quantity cruncher at mission 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 sometimes in search of long-term deep worth. Getting burned previously himself at junior mining investments by following overly optimistic sources that as a rule averted to say (hidden) dangers or important flaws, The Crucial Investor realized his lesson nicely, and goes a couple of steps additional ever since, offering a recent, extra in-depth, and important imaginative and prescient on issues, therefore the identify.

The writer is just not a registered funding advisor, and at the moment has a protracted place on this inventory. Alianza Minerals is a sponsoring firm. All details are to be checked by the reader. For extra info go to www.alianzaminerals.com and browse the corporate’s profile and official paperwork on www.sedar.com, additionally for essential threat disclosures. This text is supplied for info functions solely, and isn’t meant to be funding recommendation of any form, 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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