Aztec Minerals (AZT.V) has released the assay results of the first five holes on its Tombstone project in Arizona. Those holes were designed to step out from the north and central drill patterns at the contention pit, and fill in between those patterns. The drill program is off to a good start as all five holes intersected good grades of oxidized gold-silver mineralization close to surface.
The headline result was an interval of about 32 meters (the true width of the holes is currently estimated at 40-80% of the reported widths) containing 5.71 g/t gold and 40.5 g/t silver which is absolutely excellent for oxide mineralization although we would like to see some met work on higher grade areas like this one. That’s the eye-catcher, but the other holes were also very good for oxide mineralization: hole 4 intersected 21.3 meters of 1.19 g/t gold (and 37.1 g/t silver) starting at just 68.6 meters down-hole while hole 5 encountered 21.3 meters containing 2.07 g/t gold and 26.1 g/t silver.
The drill program is still ongoing as Aztec designed a 20 hole drill program for a total of 2,900 meters of reverse circulation drilling. As you notice, the average depth of the holes will be just around 150 meters, so Aztec is still just scratching the surface at Tombstone for now.
The assay results of 15 more holes are pending and once all results from this 20 hole drill program will be received, we’ll have a better indication of the mineralized structures and (initial) size of the deposit. But Aztec Minerals is clearly off to a good start.
Disclosure: The author has a small long position in Aztec Minerals. Please read our disclaimer.
