Aztec Minerals (AZT.V) has released the assay results from the final three holes it completed on its flagship Cervantes gold project in Mexico’s Sonora state. Hole 31, a vertical hole which successfully extended the mineralization at California to depth was the best hole. More importantly, the mineralization started at surface with an interval of 28.5 meters of 0.87 g/t gold at surface, followed by 85.5 meters starting at a depth of 49.5 meters down-hole, with an average grade of 0.58 g/t gold.
The company also reported on hole 30 with two separate mineralized zones with 7.5 metes of 0.315 g/t gold and 6 meters of 0.54 g/t gold. The third hole, drilled on the Jasper Zone, only encountered low and anomalous gold values but as that hole was drilled in a copper-rich zone, the copper values – which haven’t been released yet- are more important there.
These final three holes complete the Phase 3 core drill program at Cervantes which aimed to better define the open pit at Cervantes and to collect samples for metallurgical testing. Now this program has been successfully completed, Aztec can go back to RC drilling which is much cheaper and much faster to further de-risk the project.
The dry season is approaching fast now, and Aztec will complete a channel sampling and geological mapping program on the new drill roads at Jasper, California and California Norte.
Disclosure: The author has a long position in Aztec Minerals. Please read our disclaimer.
