Exploration at Aztec Minerals (TSXV: AZT) Tombstone property in Arizona is set to resume in 2023. The firm this morning indicated that it will be conducting a drill program to follow up on the results from the 2020-2021 program.
Drilling is set to consist of a 2,500 metre program, which is expected to amount to 10 – 12 holes each drilled to a depth of approximately 225 metres. Drilling is set to focus on stepping out from the Contention pit to the east and west, while also expanding the pit at depth. Aztec is currently focused on expanding the volume of known gold-silver mineralization at the project.
“Core drilling will test an expansion of mineralization at depth and laterally in the Contention open pit and follow up on the impressive high grade, oxide, gold and silver intersections of our 2020-2021 shallow RC drilling campaigns. The core drilling program will add valuable data to our existing RC drillhole database as we advance the shallow gold-silver mineralized Contention zone toward a maiden 43-101 compliant resource estimate,” commented Aztec CEO Simon Dyakowski.
The Tombstone project is currently targeting shallow, bulk tonnage, heap leachable-type mineralization of gold and silver oxides, while concurrently search for sub-water table extensions beyond a depth of 200 metres. The company currently views the project as having the potential for a mineralized porphyry-type deposit as a source of the mineralization.
Drilling is currently slated to occur in the first quarter of 2023, and is expected to last roughly two months. Following drilling, Aztec intends to conduct detailed mapping of the Contention Open Pit, and examine the use of geophysics for the project. The company also said the potential exists to conduct a resource estimate.
The announcement follows a similar development two weeks ago, when the company indicated that it will be conducting a 26 hole, 4,000 metre drill program at the Cervantes project in Mexico. The goal of that program is to expand the California and California Norte targets.
Aztec Minerals last traded at $0.30 on the TSX Venture.
FULL DISCLOSURE: Aztec Minerals is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Aztec Minerals on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.