General Precious Metals
Aztec Minerals (TSX-V: AZT)(OTC: AZZTF) CEO Simon Dyakowski on Hitting at Multiple Copper-Gold-Siver Projects & Strategic Investment by Alamos Gold
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, it's great to have you back on. How are you?
Simon Dyakowski: Hey, I'm doing well. Thanks again for having me on the show to talk about Aztec.
Gerardo Del Real: Well, listen, we were talking a bit off air and while the share price hasn't surged, it's definitely held in there better than most juniors and I have to believe some of that is in part one, because you've had excellent results from both projects, but two, because the market understands that you no longer need to go to the market, right? You just raised $3.4 million. You brought in Alamos Gold as a strategic investor and I think you did a good job of removing that near term overhang that a lot of juniors get themselves in trouble with. Can you speak to those points there a little bit there Simon?
Simon Dyakowski: Yeah, we were able to raise money in what's been a very tough market for everybody in our sector, but we were really able to raise the money off the back of our drilling success at our Cervantes project that happened over the first quarter of 2022. So we drilled some big hole stepouts at the California Oxide Zone and expanded the zone greatly. That obviously caught the attention of one of the big producers in the region, which is Alamos Gold, mid tier gold producer based in Toronto. And they have come in and joined us as 10% shareholders and provided some funding along with some of our other key shareholders to keep advancing our projects, both of them including Tombstone as well in Arizona.
Gerardo Del Real: You just also announced final gold and multi element results from the RC drill program at Cervantes. Can you give us an overview of those results and just your thoughts there?
Simon Dyakowski: Yeah, so we finally got all of the multi element results back. It took a little bit longer to get those than it did to get the gold results earlier in the year, but we have them all now and we had a nice picture developing at the project specifically with respect to the potential for a larger porphyry copper discovery on the project. So this is a district that has several outcropping porphyry style targets, California being one of them and we, one of the things that we were hoping to accomplish in this drill program was a couple of deep tests around 500 meters in depth. We weren't able to do so because the RC drill rig they were using ran into some trouble once it hit the water table. But in hole 18, for example, we were able to penetrate the top of a very notable IP chargeability anomaly that starts at about 250 meters below the surface and extends out down to 500 meters and widens out.
So that's a very large target for us. While we weren't able to get into it, into the heart of it, we did cut the top of it and interestingly, the moly and the copper numbers started picking up at the bottom of that hole... In the top of the hole the copper only averaged 51 parts per million so just kind of a baseline, nothing to report, but it increased tenfold at the bottom of the hole to an average of 578 parts per million and same with the moly, it increased by a factor of 10 as well so that's a very, very strong indication that we could be on to something at depth, bigger and better. So we are excited to put that into our models and incorporate it into plans for upcoming drilling.
Gerardo Del Real: We just got the Fed rate hike that was pretty baked in. The Fed decided to raise by 75 basis points. Gold has reacted well up a percent and a half. Silver is up three a half percent, all this with the dollar index still above the 105 level. I suspect the second half of this year is going to provide some fireworks in the precious metal space and again, congrats for positioning Aztec shareholders to benefit from that here. Anything to add to that Simon?
Simon Dyakowski: No, I think you summed it up nicely with that comment. I think there's a lot of ways that you can play gold and silver in an up market, but I think Aztec has done a lot of important work to de-risk our projects, but we still have a lot of growth potential at both. And we have the money now to do the work, to prove that out so we should be one of the stories investors might want to consider looking at to play that rebound in precious metals and we hope to have continuous exciting news and results over the back half of the year to compliment that.
Gerardo Del Real: Well said. Let's chat again soon there.
Simon Dyakowski: Sounds great. Thanks Gerardo.
Gerardo Del Real: Thank you, Simon.