Source: Streetwise Reports 11/29/2018
A mineral exploration company is making progress in the Americas with an experienced management team and prospective properties focused on discovery.
Aztec Minerals Inc. (AZT:TSX.V; AZZTF:OTCQB), a Vancouver-based mineral exploration company focused on new discoveries in the Americas, is moving forward with two prospective projects. Aztec Minerals is a relatively newly listed company. Bradford Cooke, Aztec Minerals Chairman, told Streetwise Reports, “Since our IPO 18 months ago, we’ve done a tremendous amount of work to create value for shareholders.”
“At our Cervantes project in Sonora, Mexico, we outlined by drilling a gold oxide cap to a large porphyry gold-copper prospect defined by a strong IP geophysical anomaly. At our Tombstone project in Arizona, we identified by mapping and sampling potential high-grade, bulk-tonnage carbonate replacement deposits (CRDs) in a geologic setting similar to the Taylor deposit of Arizona Mining Inc., located only 65 kilometers southwest of Tombstone, which recently received a $1.8-billion friendly takeover bid by South 32.”
The company is transparent about its strategy. Throughout North America, Aztec Minerals targets “low-cost, highly prospective exploration properties” with “strong potential for large gold-copper mineralized zones.”
“Through seasoned management, exploration expertise, potential partnerships with larger companies and a well-funded treasury, Aztec Minerals has what it needs to unfold the discovery potential of these two properties,” Cooke noted.
Mexico: Cervantes Gold-Copper Project
Aztec Mineral’s core asset is the prospective Cervantes porphyry gold-copper property in Sonora, Mexico. Northwest Mexico is home to some of the largest porphyry copper-molybdenum-silver-gold deposits on the world, for example, Grupo Mexico’s Cananea and La Caridad mines. Southeast Sonora hosts two large open-pit epithermal gold mines, Alamos Gold’s Mulatos Gold Mine (2.0 million ounces remaining) and Agnico Eagle’s La India Gold Mine. Cervantes is located 160 km east of Hermosillo at the crossroads of one of the NW trending copper trends and the EW Mulatos gold trend.
The property is accessible by road. “Aztec successfully negotiated community support and land access through its attention to the needs of the local ranchers. Best safety and environmental practices were used during the Phase 1 drill program,” Cooke stated.
Since Cervantes was only explored by a small, shallow drill program in the mid-1990s, Aztec had reason to believe the area was significantly underexplored and held strong discovery potential. “In late 2015 and early 2016, the company identified robust and coherent gold, copper, and moly anomalies by soil sampling. An induced polarization survey over the heart of the gold-copper-moly anomalies in 2016 delineated a large, strong, open-ended chargeability anomaly that confirmed a larger copper-gold porphyry target below an oxide gold cap,” Cooke noted.
In 2017, the company obtained a drill permit and all required surface agreements. A Phase 1 drill program was completed in late 2017-early 2018. In total, Aztec Minerals drilled 2,675 meters in 17 holes. Aztec also won a government land lottery and acquired two new mineral concessions covering approximately 3,149 hectares adjacent to the Cervantes …read more
Source:: The Gold Report