gold & silver exploration
Idaho, Nevada, Alaska & Mexico.
Message: Update at Two Mile: DDH-006 Intersecting Stock-Works
| February 2, 2009 | |
| Azteca Update at Two Mile: DDH-006 Intersecting Stock-Works | |
|
SPOKANE, WASHINGTON--(Marketwire - Feb. 2, 2009) - Matthew Russell, President of Azteca Gold Corp. (TSX VENTURE:AZG) ("Azteca" or the "Company") announces drilling and assaying progress on the Company's 50% owned Two Mile Project near Osburn, Idaho in the historic Silver Valley. DDH-006 Vertical diamond drill hole DDH-006 was collared the week of December 8, 2008 at N5264576, E576967, and elevation 3060 FT. Current depth is 3900 FT or 840 FT below sea level. The Company believes its main target, a mineralized stratigraphic sequence, was initially intersected at approximately 2300 FT with disseminated mineralization and at approximately 3575 FT, stock-works type veining was first intersected and has been encountered intermittently to current depth. Based on a similar stratigraphic sequence encountered in hole DDH-005A, starting from approximately 5800 FT, the Company has tentatively set 5000 FT as a projected target depth (TD) for hole DDH-006. At current drilling rates, TD may be reached within the next few weeks. The Company wishes to stress that, although the purpose of hole DDH-006 is to develop a mineral resource on-strike with the Two Mile Fault of the massive zinc-silver-lead mineralization intersected in hole DDH-005A, the intersection of a similar mineralized stratigraphic sequence and promising stock-works type veining does no insure intersection of similar type massive mineralization. The Company has split and rushed to the lab for assay interval 3576-3592 FT to test the widest and strongest stock-works type veining intersected to date in hole DDH-006. First preliminary assay results are expected at the end of this week or beginning of the following week. The Company believes this interval represents a mineralized fault which, approximately 4000 FT up-dip at surface may represent the Harlow vein (The Harlow adit is located approximately 1500 FT North of hole DDH-006.). The Company has estimated the dip between -65 to -70 degrees to the South. The Harlow was mined in the 1900's as a small high grade silver-lead-zinc-copper vein that followed a relatively flat-lying bedding layer near surface. Work by various exploration companies in the latter 3 decades of the 1900's to find the down dip extension of the Harlow vein intersected what may be the Harlow vein. The better intervals of this prior work as well as hole DDH-002 by Azteca are as follows: Hole Number Interval Ag Pb Zn Cu
(FT) oz/ton % % %
DH-RA-13 366.5-367.5 47.4 3.9 12.3 1.25
DH-RA-60 264.0-267.0 11.5 2.2 2.5 -
DDH-002 0.0-5.0 (dump) 480.5g/tonne 1.8 1.5 0.30
Vertical hole DH-RA-13 was collared at N5265037, E577116, and elevation 3215 FT. Vertical hole DH-RA-60 was collared at N5265037, E577329, and elevation 2994 FT. Azteca collared vertical hole DDH-002 in Q4 2007 in the Harlow mine dump next to the portal at N5265037, E577238, and elevation 2915 FT. Assay protocol for Azteca hole DDH-002 was fire assay for silver and ICP for lead, zinc, and copper. Assay protocol for the earlier assays by others was not determined by the author. Collar locations of DH-RA-13 and DH-RA-60 were estimated from a map provided by Silver Royal Apex, a private Idaho Company. DDH-005A Assays Splitting and assaying of the core interval 5800 FT to 8784 FT continues and further results will be released this week after Company verification of the current lab results. DDH-005B Update Wedge-off hole DDH-005B is currently at a depth of approximately 5950 FT. The hole is on target for developing mineral resource along strike of the Two Mile Fault at an offset from hole DDH-005A. DDH-007 The Company has mobilized a third diamond drill rig to begin drilling hole DDH-007 by the end of February. The exact location of DDH-007 will shortly be chosen to be collared on one of the three additional drill sites which have been permitted within the Two Mile property, the purpose being to develop a mineral resource based primarily on the mineralization intercepted in holes DDH-005A and DDH-006. The information contained in this news release has been reviewed and approved by Matthew Russell, President and CEO, the Company's Qualified Person as defined in National Instrument 43-101. |
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