Aztec Minerals (TSX-V: AZT) CEO Simon Dyakowski on Latest High-Grade Gold & Silver Drill Results from the Tombstone Project in Arizona
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of Aztec Minerals (TSX-V: AZT)(OTC: AZZTF), Mr. Simon Dyakowski. Simon, how are you?
Simon Dyakowski: Hey, Gerardo. Good day to you. I'm very well. We just announced some results today. We're happy and excited to be talking about them.
Gerardo Del Real: You're happy, and the market definitely received the results well. The highlight intercept is an intercept of 6.18 grams per tonne gold, 77.2 grams per tonne silver over 15.14 meters. You announced 4 holes. Can you give us a brief overview of those?
Simon Dyakowski: Absolutely. Correct, our headline role was 6.18 grams, 77 grams silver over 15 meters. That equates to over 7 grams gold equivalent. Actually, the drilling that we've been doing recently is more heavily weighted towards gold, which is what we expected looking at the historic results that we're partly confirming with these drill holes. But as you pointed out, it was a 4-hole release, and that indicates what we've drilled in our 4-hole North Spoke Pattern.
Your listeners will recall that we are drilling this project in what we're calling spoke patterns. We started with one in the center of the old open pit, and now we've drilled one in the north, and we're currently drilling in the south. What's significant about these results is that they are a full 300 meters north of the first set of results that we announced in late September.
So we're excited. It really demonstrates the scale of the project here. We were also very pleased to find some much higher grade results within these holes. Hole 9, in particular, we had a section that ran quite a bit higher. The highlights were approximately 1.4 meters grading 20 grams of gold, another section grading 12.5 grams gold and almost 300 grams silver, 283 grams silver.
What that tells us is that the old-time miners did not mine all the old high grade out of the system. That's great news for us, and it really builds on the very long intersection of almost 80 meters of an equivalent 1.6 grams of gold that we drilled early in the program.
All in all, the program's going really well. We're thrilled with the results that we disclosed today. We're now drilling about 400 to 500 meters south of that central spoke that we first drilled in the south of the property. So really testing the full extent of the Contention Pit structure, which is also known to be the most productive vein that was mined by the old-timers. We're proving out that there is good mineralization left in the system at depth and laterally. So we're really happy. It's going well.
Gerardo Del Real: It's interesting to me that you're starting to prove out different types of mineralization as well. Right? You highlight this in the release. You have some intersections of shallow, bulk tonnage, open pit type gold as you describe it and silver mineralization. Then you also have the deeper high-grade underground type mineralization. Is that something you expected?
Simon Dyakowski: Well, it's hard to expect that, but we think we've seen it. We knew it was always a possibility. I will reiterate that the old-timers were mining bonanza grades. So when we're getting close to bonanza grades near-surface, that represents what would be very high value ore in an open pit heap leach type environment. So we're happy, and we hope to see some more of that as we keep drilling.
Gerardo Del Real: Excellent. Program continues. How are things with the labs? You've been pretty consistent in reporting results. Do you expect that to continue?
Simon Dyakowski: So far, we have no reason to see a change in that. The labs have been good. We started our program early, and we've been managing our flow of samples to the lab well. That's not to say that it might not back up, but we have had no indication of that so far. Our pace of releases here, we're about three weeks since our last releases, it's certainly a reasonable expectation going forward. We'll have solid news flow through November and into December with these results.
Gerardo Del Real: Excellent, excellent. Simon, anything else you'd like to add to that?
Simon Dyakowski: I think that about covers it. Thanks for the opportunity to highlight these results. I would encourage investors to keep looking forward to more results from Aztec at the Tombstone Project.
Gerardo Del Real: Absolutely. For those of you looking for a good speculation with multiple properties in good jurisdictions, the stock is actually cheaper than it was a month ago. I dare say it's a more attractive speculation at these levels, given the nature of these results thus far. Right?
Simon Dyakowski: Yeah. Actually, that brings up a good point. We have sold off a little bit, the share price, over the last 6-8 weeks. One thing that I would point out is that there was a structural reason for this. There were some warrants that were causing an overhang. They were issued before the company IPO'd back in 2017, and they were at $0.25. They actually expired today, and they've virtually all come in.
Any overhang that was resulting from those warrants is cleared up, and in my opinion represents a good entry point for investors. Again, like you point out, we're trading lower than we were a month ago with more information, better results, validating our theory.
We actually have another project. We have two flagship projects in this company, the other one being Cervantes. We hope to have some news out on that soon as well. 2021 is shaping up to be an even busier year than 2020 for us.
Gerardo Del Real: Looking forward to it. Simon, thank you.
Simon Dyakowski: Thank you very much, Gerardo, have a great day.