SPOKANE, WASHINGTON -- (Marketwire) -- 07/03/09 -- Matthew Russell, President of Azteca Gold Corp. (TSX VENTURE: AZG) (the "Company") wishes to announce recent carbonate and sulfide preliminary assay results for DDH-006 and outline the drilling plan to test, for massive sulfides, newly discovered carbonates located at depth in the Prichard formation. Our targets are the same as we found in DDH-005A: lead-zinc massive sulfides with copper, silver, and gold. Both the newly wedged-off hole DDH-006B and previously wedged-off hole DDH-005B will be deepened during July and August with the expectation of intersecting massive sulfides within and/or adjacent to what we anticipate is a significant carbonate layer or unit. A conceptual sketch of this drill plan, anticipated carbonate unit geometry, and sulfide targets is being prepared for posting on our website. The reader is cautioned that these images are only conceptual in nature and the purpose is to give investors a better understanding of the type and potential geometry of mineralization we are attempting to drill.
On June 26, 2009 the Alberta Securities Commission advised the Company that as a result of a continuous disclosure review, it was required to clarify certain technical and geological information. In addition to this release, the Company intends to provide additional disclosure next week. It cautions that any previous statements suggesting mineable nature or potential economic viability, the application of a Sullivan-type bedded massive sulfide deposit model, or any inferences about metal grades based on geological descriptions of "massive sulfide" or other mineralization types should not be relied on.
Azteca Gold is pleased to announce the intersection of both sulfide stock-work veins above previously unknown calcic carbonates composed of what may be confirmed by the Company as ankerite (limestone with iron and magnesium carbonates). "We are very excited about this new discovery," said Matt Russell. "The adjacent massive sulfide stock-work veins above this limy (calcic) carbonate unit are a good indication that the carbonate unit may have served as a trap for concentrating hydrothermal sulfide solutions. The presence of anomalous gold within the sulfides along with anomalous tungsten is particularly exciting for several reasons. Limy carbonates are known to be associated with large gold deposits such as those found in the Carlin Trend in Nevada. Also, the gold that was mined to the immediate NE of the Two Mile property near Murray, Idaho area during the first half of the twentieth century was accompanied by a tungsten (W) mineral."
Russell went on to add, "Due to the apparent strength of the stock-work veining in DDH-006 and the fact that the most prevalent ore gangue mineral of the Silver Valley is carbonates (siderite and ankerite), we believe that our massive sulfide targets may be intersected within or immediately below these carbonates."
"It may come as a surprise to re-activate wedge-off hole DDH-005B , but after discovering carbonates one kilometer away in DDH-006 and re-examining the core from DDH-005B, we have good reason to expect that these same carbonates (conceptually a carbonate layer or unit) may be intersected within 500 FT of the current 8,744 FT hole depth of DDH-005B," said Mr. Russell. "We had stopped work on hole DDH-005B in mid-March because the calcite (calcium carbonate) veining we were encountering, though encouraging because it was accompanied by light stock-work veining, did not have enough strength to predict a target depth. But now with the ability to compare strata with hole DDH-006, we believe carbonates may be intersected within a relatively short distance of approximately 500 FT in hole DDH-005B, and that it may be worthwhile to test it for massive sulfides."
DDH-006: Carbonate Assay Results 11,081.5 - 11,173 FT
From (FT) To (FT) Interval (FT) Ca (%) Fe (%) Mg (%) CO3 (%)
11,081.5 11,083.0 1.5 1.16 1.93 0.47 4.35
11,106.5 11,108.0 1.5 1.20 2.05 0.45 4.81
11,140.5 11,143.0 2.5 1.57 2.69 0.67 5.48
11,158.0 11,160.5 2.5 1.43 1.93 0.54 6.84
11,160.5 11,163.0 2.5 1.10 2.10 0.60 4.88
11,163.0 11,165.5 2.5 1.69 2.06 0.61 7.50
11,165.5 11,168.0 2.5 2.29 2.28 0.74 8.46
11,168.0 11,170.5 2.5 2.34 2.90 0.70 7.26
11,170.5 11,172.0 1.5 2.65 2.28 0.76 10.30
11,172.0 11,173.0 1.0 6.26 4.38 1.62 20.90
It appears that the carbonates are reasonably wide (at least approximately 90 FT) and that calcium carbonate becomes more prevalent with depth. Whether the carbonate unit discovered will become predominately calcic (calcium carbonate or limestone) can only be determined with further drilling. The width of the carbonate unit may be larger than indicated, and this may be determined as more carbonate assays are obtained for the missing intervals in the above table as well as for adjacent intervals.
CO3 is the carbonate ion and its percentage represents the amount that is carbonate ion. The reader is cautioned that Ca, Fe, and Mg may be part of minerals other than carbonate, but given the amount of CO3 in each interval, balanced chemistry suggests that the majority of the Ca, Fe are paired with CO3.
