Aztec Minerals (AZT.V) is working through a 15 hole drill program at its Cervantes copper-gold project in Mexico’s Sonora state, and the drill results of the first few holes are very encouraging. Whilst hole 1 and 2 didn’t return any significant metal values (not unexpected, considering this is the first drill program on the property, so the hit rate wasn’t expected to be high) whilst hole 4 did contain some gold, but hole 3 and 5 were definitely headline material.
Starting at a depth of just 2 meters, hole 3 encountered 117 meters of 0.63 g/t gold and 0.09% copper, including a higher grade zone of 43 meters at 1.18 g/t gold and 0.16% copper. Hole 5 was perhaps even slightly better with 139 meters of 0.71 g/t gold (and 0.10% copper) starting at surface, including a 20 meter interval containing 2.1 g/t gold and 0.16% copper.
Again, this is just the first pass at this project and the assay results of an additional 10 holes still have to be released. Whilst it’s still ‘too early to tell’, we are very encouraged by the initial exploration results where the gold oxide mineralization was encountered where it was expected to be.
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The author has a long position in Aztec Minerals. Please read the disclaimer
