Aztec Minerals Corp. announced the additional gold results from the recently completed Reverse Circulation (RC) exploration drilling program conducted in Fourth Quarter 2023 at the California gold zone of the Cervantes project in Sonora, Mexico. The results of the final 10 of the total 13 RC drill holes, CAL23-035 to 044, continued to show intersections of gold mineralization in the altered California intrusive porphyry complex extending the California gold zone to the West, North, South and East as well as to depth.

Results for hole CAL23-041 a step-out extending the California zone to the West, returned 57.76m grading 0.42 gpT Au. The results from all final ten RC drill holes encountered the gold mineralized and altered California intrusive complex. Drilling toward the West and Northwest of the California zone targeted the edge of an airborne magnetic low that the California gold porphyry mineralization appears related to.

The drilling has expanded the knowledge of the system, including support of the concept that much of the metasediments intersected are unconnected blocks as xenoliths within the California intrusive porphyry complex as relicts of its piercement by its uppermost levels. It is also being shown that the metasediments, specifically the quartzites, can host gold mineralization which hadn't been well evidenced before. Surface reconnaissance confirmed that the mineralized and altered quartz feldspar porphyry and hydrothermal breccias continue to the east for at least another 400 meters.

To-date, every hole except one drilled at the California Zone has intersected near surface, oxidized gold mineralization with minor copper values. The primary focus of the Phase 3A RC drilling program at Cervantes was to expand the previously drilled California zone and towards the California North and Jasper zones, and to enhance geologic understanding of the targets. The Phase 3A RC drilling program at Cervantes was comprised of thirteen RC holes totaling 1,630.7 meters drilled at California.

The program was conducted in the end of the rainy season with no injuries or accidents. Reported lengths are apparent widths, not true widths, and the gold mineralization appears to be widely distributed in disseminations, fractures and stockwork veinlets at high levels within the California intrusive porphyry complex of Quartz-feldspar porphyry and feldspar porphyry intrusives and related hydrothermal breccias. Holes CAL23-035 to 044 intersected extensive gold related mineralization and alteration, below, extending the known mineralized zone to the North and West and at depth.

The California intrusive porphyry complex including the California and California Norte zones as drilled measures approximately 1,000 meters long E - W by 730 meters wide, with demonstrated, continuous mineralization of up to 170 meters depth. The porphyry gold-copper mineralization is still open in all directions. In 2017-18, Aztec completed a Phase 1, 17 diamond core hole drill program, totaling 2,675 meters (m).

Phase 1 drilling tested the California zone 900m by 600m gold-in-soils anomaly that averaged 0.44gpt covering hydrothermal breccias within the Quartz feldspar porphyry stock intruding Paleozoic siliciclastic sediments. In early 2022, Aztec completed a Phase 2, 26-hole, RC (reverse circulation) drill program totaling 5,267 m focused on expanding the California zone with two drill hole fences parallel to and on either side of the 2017-18 Phase 1 drill hole fence. The Phase 2 RC drilling program was followed by the Phase 2 oriented core drilling program of 2,588 meters in 11 drill holes combined successfully expanded the primary California zone to an area measuring approximately 900 meters long by 250 to 500 meters wide, with demonstrated, continuous anomalous mineralization to over 200 meters depth vertically.

The porphyry gold-copper mineralization is still open in all directions. Aztec's drilling to-date has consistently intersected an oxidized gold cap to a porphyry-type gold-copper-silver system at California, including multiple 100+ meter widths of exceeding 0.40 gpt gold. Preliminary metallurgical tests on California drill cores were conducted in 2019.

Drill core samples were grouped into 4 separate types of mineralization: Oxide 1, Oxide 2, Mixed Oxide/Sulfide and Sulfide. The preliminary results of bottle roll tests showed excellent potential for heap leach gold recovery, as follows: 85.1% recovery on 2.0mm material and 94.3% on 75-micron material in sample Oxide 1, 87.7% recovery on 2.0mm material and 94.2% on 75-micron material in sample Oxide 2, 77.9% recovery on 2.0mm material and 89.0% on 75-micron material in sample Mixed Oxide/Sulphide and 51.2% recovery on 2.0mm material and 78.7% on 75-micron material in sample Sulphide.