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What Drove Aztec (AZZTF) Stock Up 26%?

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At its previous close, Aztec Minerals Corp [OTCQB: AZZTF] stock climbed 26.17 percent to $0.2960. Volume on Aztec stock was 156.56K units against an average volume of 29.76K for the last 30 days. The 52-week range for AZZTF stock is $0.1800 to $0.5310. Although there was no recent news, recent developments may hint at AZZTF stock direction.

What recently took place at AZZTF?

Aztec is a mineral exploration company dedicated to exploring polymetallic deposits of mineral resources in the Americas. One of AZZTF’s main assets is the Cervantes porphyry gold and copper project in Sonora, Mexico. Several historic properties within Cochise County, Arizona, have epithermal, bulk-tonnage gold-silver, and CRD silver-lead-zinc mineralization.

Aztec currently owns 76 percent of the Tombstone project in Arizona and has begun its drilling program for Phase 2 reverse circulation (RC), announced the company recently.

  • Phase 2 of the reverse circulation (“RC”) program will consist of 20 holes totaling 3,000 meters, with the aim of extending the shallow, broad, bulk-tonnage gold-silver mineralization discovered below and around the Contention pit.
  • Phase 1 results in 2020 included:
  1. 24m @ 7.15gpt AuEq in hole TR20-09,
  2. 62m @ 6.36gpt AuEq in hole TR20-18, and
  3. 2m @ 4.89gpt AuEq in hole TR20-02.
  • It was estimated that the real width ranged between 30% and 80% of intersected lengths.
  • These holes encountered shallow oxide gold and silver mineralization associated with clay and silica alteration, as well as iron and manganese oxides.
  • A series of collared holes will be drilled at approximately 50 meters intervals along the western side of the Contention Pit.

How AZZTF will move forward?

Depending on the current drill hole configuration, Aztec (AZZTF) drill sites will be spaced from 50 to 100m apart. Phase 2 program results will help AZZTF guide the next phase of RC drilling even though 20 holes are not enough to drill off all mineralized zones.

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