Aztec Minerals Expands the Oxide Gold Cap at Cervantes
It seems to me that we are seeing a bottoming process in the junior resource shares with many companies down as much as 20% in the last week. That smacks of capitulation and bodes well for the near future. The DSI only got to 83 for gold in December and that does not mark a major top. I think the near-term is higher for gold and resource stocks.
Aztec Minerals (AZT-V) has two major projects it is working on. A 75% owned silver/gold project in the historic Tombstone district in Arizona and a gold project in Sonora they call the Cervantes property. The company just released interesting results from a thirteen hole RC drill program showing all holes intercepted oxide gold expanding the footprint of the mineralization to 1,000 meters from east to west.
Aztec lost the best hole, Hole CAL-23-34 in bad ground at 85 meters depth but still it bottomed in high grade gold of 13.8 g/t gold over 1.52 meters. The company believes the best gold results will come when they have drilled through the oxide and entered the sulfide portion of the mineralization.
Aztec is an advertiser. I have participated in the latest private placement so I am biased. Do your own due diligence. Do read the short but very well written presentation.