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Aztec Minerals Corp
Symbol AZT
Shares Issued 27,991,016
Close 2018-04-24 C$ 0.20
Market Cap C$ 5,598,203
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Aztec drills 160 m of 0.77 g/t Au at Cervantes

2018-04-24 08:05 ET - News Release

Mr. Joey Wilkins reports

AZTEC MINERALS INTERSECTS 0.77 GRAMS PER TONNE GOLD OVER 160.0 METERS INCLUDING 1.04 GPT GOLD OVER 80.0 M AT CERVANTES PROPERTY, SONORA, MEXICO

Aztec Minerals Corp. continues to intersect long intervals of porphyry-type gold (copper, silver) mineralization at the California target on the Cervantes property in Sonora, Mexico. Drill hole 18CER010 intersected 160.0 metres grading 0.77 gram per tonne (g/t) gold, 0.125 per cent copper and 3.4 g/t silver, including a higher-grade intercept assaying 1.04 g/t Au, 0.11 per cent Cu and 4.0 g/t Ag over 80.0 m starting at a downhole depth of 4.0 m.

President and chief executive officer Joey Wilkins stated: "Hole 18CER010 is the best we've seen thus far at Cervantes as part of our phase 1, 17-hole, 3,000-metre drill program. These positive drill results, combined with our recent land acquisition that expanded the property sixfold to 3,619 hectares and added several new porphyry-type gold-copper targets, significantly enhance the potential of the Cervantes property."

                            DRILL RESULTS TABLE
  
Hole     From          To    Interval        Gold      Copper      Silver
No.       (m)         (m)         (m)       (g/t)         (%)       (g/t)

9           0          56          56        0.20        0.04         1.5
            0         104         104        0.16        0.03         1.2
10          0         160         160        0.77        0.13         3.4
            4          84          80        1.04        0.11         4.0
           30          58          28        1.77        0.13         5.8
           42         118          76        0.78        0.20         3.8
          140         144           4        5.56        0.08         3.6
11          0         166         166        0.28        0.09         2.4
          6.5        25.5          19        0.47        0.03         3.7
         92.5         156        63.5        0.36        0.09         2.2

Drill holes were oriented to cross the most prominent structures seen in outcrops so core lengths reflect the approximate interpreted true width of the California zone mineralization. One sample in hole 18CER010 had a value of 183.8 g/t Ag but was capped at 20.5 g/t Ag by statistical analysis. No other sample results required capping.

Brief hole-by-hole descriptions follow below.

18CER009: California zone -- southern edge of gold geochemical anomaly:

  • Zero to 105.6 m, quartz feldspar porphyry and QFP polymictic clast breccia, moderate to strong hematite and goethite, moderate quartz veinlets and stockworks, silicification, sericite, clay and chlorite alteration, patches of sulphide from 59.0 m to 105.6 m, pyrite, sparse chalcopyrite, rare chalcocite; 105.6 m to 160.0 m contains fractured and brecciated quartzite with minor siltstone, intervals of strong hematite-goethite, quartz veinlets, hornfels with possible biotite, weak disseminated vein pyrite with quartz, calcite, chlorite, traces of molybdenite.

18CER010: California zone -- centre of gold geochemical anomaly:

  • Zero to 205.6 m, QFP initial 54 m followed by complex mixture of intrusive- and matrix-supported breccias, quartz veins, silicification, sericite, chlorite, tourmaline, tremolite, sparse late-stage calcite; oxidized to 23.5 m then pervasive dissemination-, vein- and replacement-style sulphide, largely pyrite and overprinting early-stage fine-grained chalcopyrite, upper zones of chalcocite to roughly 130 m, sulphide content ranges from 2 to 15 per cent with occasional five- to 10-centimetre massive veins; 5.2 m diorite dike at 94.9 m which has 1.5 per cent disseminated pyrite, clay-chlorite alteration; lowermost 2.0 m consists of pyritic hornfels with quartz stockworks.

18CER011: California zone -- centre of gold geochemical anomaly:

  • Zero to 64.5 m, quartz feldspar porphyry breccia, abundant fragments of quartzite and hornfels, quartz veinlets and stockworks, argillic to phyllic alteration, oxidized to goethite, jarosite and hematite, minor tourmaline, patches of residual sulphide to 3 per cent, pyrite, chalcocite and chalcopyrite, minor chrysocolla; increasing sulphides at 41 m, prominent at 51 m to 7 to 8 per cent total, minor chalcopyrite (less than 1 per cent) with chalcocite coatings; 64.5 to 75.8 m late diorite dike with strong clay and sericite alteration, 1 to 2 per cent disseminated pyrite, occasional veinlets, sparse chalcocite; 75.8 to 170.8 m QFP breccia, clast-supported intrusive and sedimentary clasts, intrusive and chlorite-sericite-tourmaline-sulphide matrix, 5 to 8 per cent total sulphide, 0.5 to 1.0 per cnet chalcopyrite, pyrite.

Joey Wilkins, BSc, PGeo, president and chief executive officer of the company, is the qualified person who reviewed and approved the technical disclosures in this news release. All core samples were split in half, placed into plastic bags, labelled with sample number, closed with zip ties and placed in rice sacks. Samples were typically collected in 2.0 m intervals with occasional exceptions of 1.5 or 3.0 m intervals. Blanks, duplicates and three certified standards were inserted into the sample stream and subsequently reviewed without any outliers or abnormal results. The samples were delivered to Bureau Veritas Laboratories in Hermosillo and analyzed for gold using a 30-gram sample by fire assay fusion with AAS (atomic absorption spectroscopy) finish. Samples were shipped to Vancouver and analyzed with a 0.25-gram sample using four-acid ICP-MS (inductively coupled plasma mass spectrometry) providing analysis on 45 elements.

The Cervantes property is held under an option to purchase agreement with Kootenay Silver Inc. whereby Aztec can acquire up to 100-per-cent interest in the property in two stages. Additional information can be found on the company's website.

About Aztec Minerals Corp.

Aztec is a mineral exploration company focused on the discovery of large porphyry gold-copper deposits in the Americas. The company's first project and core asset is the prospective Cervantes gold-copper property in Sonora, Mexico. The second project is the district-scale historic Tombstone properties in Cochise county, Arizona.

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