Aztec Minerals (AZT.V) had already released the assay results for the gold at its Cervantes project in Mexico’s Sonora state but has now followed up on that by also releasing the gold and silver grades. While the table doesn’t indicate at what depth the copper and silver mineralization is encountered, there certainly are some interesting intervals with for instance 24 meters of 0.1% copper in hole CAL23-042 and an interval of 1.5 meters containing almost 1 ounce of silver in hole CAL23-038.
Nor the silver nor the copper will likely move the needle for the project (just as a theoretical example, 1 million tonnes of rock at an average copper grade of 0.075% contains just 1.5 million pounds of copper before taking recovery and payability into consideration), and the gold values remain the main focus at Cervantes and fortunately the company’s hit ratio was 100% in its 2023 RC drill program as all 13 drill holes encountered gold (the hit ratio of the 2021-2023 drill programs was 98% as just one of the 44 holes did not encounter gold mineralization). The California zone of the Cervantes project remains open beyond the currently established mineralized footprint of 300 by 1000 meters. Aztec highlighted the California target continues towards the east for about 400 meters and that will likely be one of the priorities to follow up on in future drill programs.
Disclosure: The author has a long position in Aztec Minerals. Aztec is a sponsor of the website. Please read the disclaimer.
