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Aztec Minerals (TSX-V: AZT)(OTC: AZZTF) CEO Simon Dyakowski on Additional Strong Drill Results from California Zone at Cervantes Project in Sonora, Mexico; Intersects 0.87 gpT Au over 152.4 m Including 2.05 gpT Au over 33.5m
Gerardo Del Real:This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of Aztec Minerals, Mr. Simon Dyakowski. Simon, good to have you back on. How are you?
Simon Dyakowski: Doing well. Thanks for having me back on the show today. We had some news, so happy to be able to share that with you.
Gerardo Del Real:Well, let's get right into it. When we first started sharing this story with our audience, I spoke about my fondness for the Cervantes Project in Sonora, Mexico, and the results that you just reported this morning follow some already very, very good results. The highlight number is 152.4 meters of 0.87 grams per tonne gold, including 2.05 grams per tonne gold over 33.5 meters. You announced that the holes that you reported on clearly show the broad intersections of really, really good gold mineralization. I just wanted to have you on to provide some context, because this is starting to look more and more like a million gold ounce deposit.
Simon Dyakowski: Yeah, thanks for the opportunity to expand on what we're seeing here. Essentially, what we did with this last program was add two parallel fences to the initial drill fence pattern that we drilled back in 2017, 2018. And just to give a bit of background there, we drilled about 15 core holes back in '17, '18, along this California zone ridge line, and every single one of them hit broad widths of oxide gold. And so in our follow-up drilling this year, it's essentially been one fence to the south and one to the north. The last four holes that we've released today are holes 11 through to 14, and they continue to confirm that oxide gold shallow mineralization that we have been seeing in virtually all of the other holes that we've reported to date. It was headlined by hole 22, which is, again, a step out to the north, and that returned 152 meters of just shy of 0.9 grams per tonne gold, so right in that range of gold grades that you see in some of the nearby open pit heap leach mines.
Gerardo Del Real:You've hit strong gold grades over broad widths in every single hole reported to date. That's a heck of a hit rate, Simon.
Simon Dyakowski: Yeah. It's very encouraging. It's obviously a very broadly disseminated gold system. I'm just looking right now on our headlines from both programs combined, and just going down the list, we've had 137 meters at one and a half grams gold in hole five this year, 167 meters at one gram gold in hole four, now 152 meters at 0.87, and then just a couple more examples. In 2018, we hit 167 meters at 0.77, 140 meters at 0.71, hole one this year with 88 meters at 1.1 gram. So you can see the story’s really coming together nicely for us here, and it's a gold oxide cap to what might be part of a larger porphyry gold copper system.
Now, we haven't yet had an opportunity to drill deeper underneath this gold oxide cap, so that's something that we're looking forward to doing on a subsequent round of drilling. We haven't yet found the limits of the gold oxide, the shallow mineralization. Obviously, today's results suggest stepping out again to the north, but we haven't been able to go deeper with holes that are maybe more like 500 meters deep to see if there's something much larger driving the shallow system. That'll be exciting, and we're in the initial planning stages of that. And mind you, we still have eight holes to report from our last round of drilling, so lots of news to come and obviously more work very shortly.
Gerardo Del Real:I mentioned my fondness for the Cervantes Project. I also really like the district scale Tombstone Properties. Can you speak to those there?
Simon Dyakowski: Absolutely. Tombstone is one where we've drilled over the last couple of years in 2020 and 2021, and had fantastic results in that same oxide-type setting. Highlights of last year's drilling were 65 and a half meters of 3.4 grams gold equivalent, 96 meters, 2.2 grams, 32 meters, 6.3 grams, so some exceptional hits well in excess of a typical leachable grade. This is gold silver oxide in a past-producing district, so we intend to go back there later this year and continue to follow up and expand that shallow gold silver zone.
Similarly to our strategy at Cervantes, to also go deep underground with core diamond drilling and look for what we think is a very compelling CRD, silver lead zinc target, which is in the same mold or target model as the Hermosa Taylor silver lead zinc discovery made in 2015 by Arizona Mining. We're the next nearest past-producing silver district with that CRD potential at depth, so another one two punch that will be unfolding in the third quarter. Lots to look forward to there, and at this point, we should be rolling from program to program, hopefully without too much waiting in-between.
Gerardo Del Real:Where's the market cap today, Simon?
Simon Dyakowski: Well, we're finally breaking out a little bit today. We're around $25 million today, so getting a little higher, but still a very early stage opportunity in terms of valuation.
Gerardo Del Real:Wow. With gold looking like it's ready to test that $2,000 mark again, copper at $4.65, silver flirting with $26, it should be an exciting rest of the year; lots of news flow, lots of catalysts, still a tiny market cap. Thank you for the update, Simon. Anything else to add?
Simon Dyakowski: No, that covers everything. Thanks for the opportunity to come on your show today.
Gerardo Del Real:All right. Looking forward to the rest of the results and hopefully, looking forward to having you back on again.
Simon Dyakowski: Sounds good.
Gerardo Del Real:Cheers.