After Aztec Minerals (AZT: TSX-V, OTCQB: AZZTF) commenced drilling at Tombstone in Arizona at the end of February, the first result came in on April 26, 2023, and it was pretty spectacular. As the company was drilling for oxidized gold in order to expand the mineralized envelope, estimated by me at about 600koz Au, high grade gold was also hit in first hole TC23-01, generating 125m @ 0.577g/t Au and 72g/t Ag from 53.3m depth, including an impressive 7.65m @ 733.92g/t Ag, which included an excellent 1.52m @ 3,477g/t Ag from 126.5m depth (residual grade of 54g/t Ag).
At a time where sentiment seems to be turning into risk-off, with the markets contemplating whether the Fed options for a 50 basis points rate hike instead of the earlier telegraphed 25p raise as the latest inflation figures came in higher than expected despite solid market fundamentals, Aztec Minerals (AZT: TSX-V, OTCQB: AZZTF) doesn’t seem to bother too much, as it raised C$1.1M, outlined drill programs for their Cervantes and Tombstone projects, and very recently commenced drilling at Tombstone in Arizona.
Just after releasing intriguing drill results at Cervantes, Aztec Minerals Corp. (AZT: TSX-V, OTCQB: AZZTF) announced a C$3M non-brokered private placement with Alamos Gold, which can be called intriguing for sure as well. Alamas Gold is operating Mulatos, one of the largest heap leach gold mines in Mexico, not that far away from Cervantes.
After drilling a stellar intercept of 136.8m @ 1.49g/t Au three weeks ago from the California Zone at their majority owned and operated (65/35 JV with Kootenay Silver) Cervantes gold project in Sonora, Mexico, Aztec Minerals Corp. (AZT: TSX-V, OTCQB: AZZTF) continues to publish more goodies, this time somewhat more normal highlights of 138.3m @ 0.58g/t Au and 54.7m @ 0.88g/t Au.