Azteca Gold Corporation

Published : February 04th, 2008

5 FT RC Intercepts as High as 451 g/t Silver and 9.8 g/t Gold Reported at Guerra al Tirano

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Azteca Gold Corp

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News Update

 

           5 FT RC Intercepts as High as 451 g/t Silver and 9.8 g/t Gold Reported
at Guerra al Tirano - Several Parallel Hanging Wall Structures Are Intercepted and Down Dip Mineralization of Up to 3.1 g/t Gold Over 5 Ft Is Intercepted at a Depth of 920 Ft

Feb 4, 2008
Shares issued:
107,385,751

Symbol: TSX-V:AZG

SPOKANE, WASHINGTON--(Marketwire - Feb. 4, 2008) - Matthew Russell, President of Azteca Gold Corp. (the "Company") (TSX VENTURE:AZG) announces updated exploration results at its Guerra al Tirano Project in Sierra Madre, Mexico. The Company has now received gold and silver assays on the remaining holes of the 29 hole, 17,725 foot RC drilling program conducted by Layne de Mexico in Q3 and Q4, 2007. Highlights include higher grade sections within larger zones of mineralization, which may represent high grade "chutes" as discussed below, such as:

RC-033: Average assays of 95.37 g/t Silver and .74 g/t Gold over 55 feet, including 363 g/t Silver and 3.42 g/t Gold over 5 feet.

 

RC-034: Average assays of 207.87 g/t Silver and .40 g/t Gold over 15 feet, including 451 g/t Silver and 0.53 g/t Gold over 5 feet.

 

Highlights also include evidence of parallel mineralized structures in the hanging wall of the Main GAT Vein as well as down-dip mineralization to over 920 feet, such as:

 

RC-032: Assays of 2.09 g/t Gold over the interval 710-715 feet; 9.77 g/t Gold over the interval 820-825 feet; and 3.08 g/t Gold over the interval 920-925 feet.

 

Matthew Russell states, "Like many other junior exploration companies, we have waited an extended period of time for results to come back from the backed-up assay labs. Our shareholders' patience has been rewarded, though, and we are very pleased with these results. We expect these assays to form the basis for a positive gold and silver resource model. We will be working diligently during 2008 to determine the ultimate potential of the Guerra al Tirano Project by further drill-testing the breadth of the hanging-wall mineralization and the extent of down dip continuity of this mineralized system, as well as on-strike mineralization of the Tres de Mayo concession on the southern end of the Project."

 

A drill hole Plan Map corresponding to the RC assays in this press release can be found on the Company's website (www.azteca-au.com) under the project heading "GAT". The drill program to date has made use of a total of 34 drill holes spread over 4 diamond core drill stations and 8 RC drill stations, over approximately a 1km strike length centrally located within the approximate 2.5km total length of the three GAT concessions. Maximum depth of significant mineralization intercepted was 925 feet, as found in step-out drill hole RC-032.See November 1, 2007 and January 7, 2008 press releases for diamond core and first RC results.

 

Next Phase of Drilling Program Announced

 

Azteca Gold has completed the lower road through the Tres de Mayo portion of the property, representing an additional kilometer of strike-length along the ridgeline that parallels closely the GAT Main Vein. Azteca plans to begin an additional 5,000 meter RC drill program on this portion of the property before the end of Q1 2008.

 

Coeur d'Alene Mines Corp. - Palmarejo Silver and Gold Project

 

The Guerra al Tirano Project is located within the tenement boundary of Coeur d'Alene's Palmarejo Project (which completely surrounds GAT), and appears to be part of the same mineralizing system.. Property and location maps are contained on the Azteca Gold website under the project heading "GAT".

 

Coeur d'Alene Mines Corp. completed its acquisition of the Palmarejo Silver and Gold Project in late 2007 for approximately $1.1 billion, and is scheduled to begin production in early 2009. Expected production at an annualized rate is approximately 10.4 million ounces of silver and 115,000 ounces of gold per year, with cash costs, net of gold bi-product, of an estimated ($0.41) per ounce of silver and an initial mine life of nine years. Exploration continues on Palmarejo, which currently hosts measured and indicated mineral resources of 88.7 million silver ounces and 1 million gold ounces (measured: 5.1 million tonnes at 2.24 grams per tonne gold and 198 grams per tonne silver; indicated: 9.51 million tonnes at 2.03 grams per tonne gold and 184 grams per tonne silver) and an additional 61.4 million ounces of inferred silver mineral resources and 0.7 million inferred gold ounces (16.1 million tonnes at 1.39 grams per tonne gold and 119 grams per tonne silver). (see Coeur d'Alene Mines Corp. press release dated December 21, 2007).

 

Guerra al Tirano 2007 Drill Program Detailed Results

 

The RC drilling intersected significant mineralization in the majority of intervals across the GAT Main Vein, with minor mineralization extending into the footwall. Additionally, the hanging wall shows substantial mineralization as well, with several instances of parallel mineralized structures.

 

/T/

 

Average assays over bulk intercepts in grams/metric tonne ("g/t") include:

 

Drill holeFrom (ft)���� To (ft)Interval (ft)����� Ag (g/t)����� Au (g/t)

RC-014���������� 300�������� 315������������ 15�������� 20.76��������� 0.16

RC-014���������� 340�������� 350������������ 10�������� 23.55��������� 0.22

RC-015���������� 185�������� 200������������ 15�������� 25.56��������� 0.13

RC-016���������� 165�������� 260������������ 95�������� 26.63��������� 0.30

RC-017���������� 310�������� 345������������ 35�������� 17.82��������� 0.11

RC-019���������� 105�������� 150������������ 45�������� 28.46��������� 0.06

RC-019���������� 215�������� 260������������ 45�������� 44.36��������� 0.38

RC-020���������� 155����� ���180������������ 25�������� 17.94��������� 0.09

RC-020���������� 225�������� 245������������ 20�������� 26.05��������� 0.30

RC-023���������� 255�������� 330������������ 75�������� 24.89��������� 0.09

RC-024����������� 80�������� 195����������� 115������ ��33.21��������� 0.40

RC-026���������� 335�������� 360������������ 25�������� 61.50��������� 0.20

RC-030���������� 240�������� 265������������ 25�������� 41.90��������� 0.16

RC-033���������� 345�������� 400������������ 55�������� 95.37��������� 0.74

RC-034���������� 395�������� 410������������ 15������� 207.87��������� 0.40

RC-034���������� 475�������� 490������������ 15�������� 73.77��������� 0.11

RC-034���������� 530�������� 545������������ 15�������� 82.03��������� 0.11

 

 

Some of the better intervals in grams per metric tonne ("g/t") include:

 

Drill HoleFrom (ft)���� To (ft)Interval (ft)����� Ag (g/t)����� Au (g/t)

RC-014�������� 310.0������ 315.0����������� 5.0��������� 28.7�������� 0.221

RC-014�������� 340.0������ 345.0����������� 5.0��������� 33.5�������� 0.295

RC-015�������� 190.0������ 195.0����������� 5.0��������� 39.8�������� 0.103

RC-016�������� 185.0������ 190.0����������� 5.0��������� 44.3�������� 0.399

RC-016�������� 195.0������ 200.0����������� 5.0��������� 52.7�������� 0.541

RC-016���� ����205.0������ 210.0����������� 5.0��������� 92.7�������� 0.709

RC-016�������� 225.0������ 230.0����������� 5.0��������� 27.1�������� 0.319

RC-016�������� 250.0������ 255.0����������� 5.0��������� 23.9�������� 0.301

RC-017�������� 320.0������ 325.0������ �����5.0��������� 27.6�������� 0.107

RC-017�������� 325.0������ 330.0����������� 5.0��������� 31.8�������� 0.158

RC-019�������� 105.0������ 110.0����������� 5.0��������� 51.7��������� 0.27

RC-019�������� 120.0������ 125.0����������� 5.0��������� 88.9����� ���0.076

RC-019�������� 125.0������ 130.0����������� 5.0��������� 47.8�������� 0.048

RC-019�������� 200.0������ 205.0����������� 5.0��������� 31.3�������� 0.305

RC-019�������� 215.0������ 220.0����������� 5.0��������� 39.6�������� 0.405

RC-019�������� 220.0������ 225.0����������� 5.0��������� 55.5�������� 0.502

RC-019�������� 230.0������ 235.0����������� 5.0��������� 79.2�������� 0.783

RC-019�������� 240.0������ 245.0����������� 5.0��������� 24.5�������� 0.354

RC-019�������� 245.0������ 250.0����������� 5.0��������� 99.1�������� 0.198

RC-019�������� 250.0������ 255.0����������� 5.0��������� 36.5�������� 0.289

RC-020�������� 175.0������ 180.0����������� 5.0��������� 33.7�������� 0.152

RC-020�������� 225.0������ 230.0����������� 5.0��������� 42.5�������� 0.362

RC-020�������� 230.0������ 235.0����������� 5.0��������� 38.7�������� 0.245

RC-023�������� 300.0������ 305.0����������� 5.0����������� 34��������� 0.101

RC-023�������� 320.0������ 325.0����������� 5.0��������� 75.4�������� 0.466

RC-023�������� 395.0����� 400.0����������� 5.0��������� 25.1��������� 1.17

RC-024�������� 135.0������ 140.0����������� 5.0��������� 37.7�������� 0.174

RC-024�������� 150.0������ 155.0����������� 5.0��������� 62.4�������� 0.218

RC-024�������� 160.0������ 165.0����������� 5.0������ ���39.3�������� 0.065

RC-024�������� 165.0������ 170.0����������� 5.0����������� 33��������� 0.074

RC-024�������� 170.0������ 175.0����������� 5.0��������� 73.5��������� 2.09

RC-024�������� 175.0������ 180.0����������� 5.0���������� 152��������� 4.97

RC-024�������� 180.0������ 185.0����������� 5.0���������� 120�������� 0.762

RC-024�������� 185.0������ 190.0����������� 5.0��������� 57.9�������� 0.331

RC-024�������� 190.0������ 195.0����������� 5.0��������� 80.1�������� 0.829

RC-024�������� 205.0������ 210.0 �����������5.0��������� 41.9�������� 0.498

RC-024�������� 215.0������ 220.0����������� 5.0��������� 21.5�������� 0.358

RC-026�������� 340.0������ 345.0����������� 5.0��������� 58.9�������� 0.241

RC-026�������� 345.0������ 350.0����������� 5.0��������� 82.7�������� 0.299

RC-026�������� 350.0������ 355.0����������� 5.0��������� 82.4��������� 0.24

RC-026�������� 355.0������ 360.0����������� 5.0��������� 56.3�������� 0.109

RC-030�������� 245.0������ 250.0����������� 5.0����������� 52��������� 0.228

RC-030����� ���250.0������ 255.0����������� 5.0��������� 47.6�������� 0.246

RC-030�������� 255.0������ 260.0����������� 5.0��������� 40.4�������� 0.106

RC-030�������� 260.0������ 265.0����������� 5.0��������� 50.8�������� 0.177

RC-032�������� 710.0������ 715.0������� ����5.0���������� 0.7��������� 2.09

RC-032�������� 820.0������ 825.0����������� 5.0���������� 0.6��������� 9.77

RC-032�������� 920.0������ 925.0����������� 5.0���������� 0.5��������� 3.08

RC-033�������� 345.0������ 350.0����������� 5.0���������� 312������ ����2.4

RC-033�������� 350.0������ 355.0����������� 5.0��������� 38.8�������� 0.313

RC-033�������� 360.0������ 365.0����������� 5.0��������� 41.4�������� 0.136

RC-033�������� 365.0������ 370.0����������� 5.0����������� 54��������� 0.268

RC-033�������� 375.0������ 380.0����������� 5.0��������� 43.8�������� 0.188

RC-033�������� 385.0������ 390.0����������� 5.0��������� 35.7�������� 0.324

RC-033�������� 390.0������ 395.0����������� 5.0���������� 363��������� 3.42

RC-033�������� 395.0������ 400.0���������� 5.0��������� 90.7�������� 0.647

RC-034�������� 395.0������ 400.0����������� 5.0���������� 451�������� 0.533

RC-034�������� 400.0������ 405.0����������� 5.0���������� 122��������� 0.52

RC-034�������� 405.0������ 410.0����������� 5.0��������� 50.6�������� 0.133

RC-034�������� 480.0������ 485.0����������� 5.0����������� 89��������� 0.093

RC-034�������� 485.0������ 490.0����������� 5.0���������� 108�������� 0.208

RC-034�������� 530.0������ 535.0����������� 5.0���������� 200�������� 0.276

 

 

Location information for RC Holes:

 

������������������������������ Elevation��� Azimuth������� DipTotal Depth

Drill holeEastingNorthing������� (ft)(degrees)(degrees)�������� (ft)

RC-014������ 760234�� 3022756������ 4167������� 300������� -60��������� 360

RC-015�����760235�� 3022754������ 4168������� 255������� -60��������� 300

RC-016������ 760224�� 3022749������ 4051������� 210������� -60��������� 450

RC-017������ 760264�� 3022652������ 4061��������� 0������� -90���������� 525

RC-019������ 760264�� 3022649����� 4064������� 210������� -60��������� 450

RC-020������ 760275�� 3022660������ 4025������� 300������� -60��������� 450

RC-023������ 760250�� 3022998������ 4104������� 225������� -60��������� 750

RC-024������ 760191�� 3022971������ 4133��������� 0������� -90 ����������500

RC-026������ 760483�� 3022273������ 4140��������� 0������� -90���������� 920

RC-030������ 760525�� 3022170������ 4183��������� 0������� -90��������� 1120

RC-032������ 760529�� 3022177������ 4193������� 210������� -60��������� 930

RC-033����� 760298�� 3022944������ 4049������� 270������� -60��������� 700

RC-034������ 760363�� 3022760������ 4073������� 260������� -60�������� 1060

 

/T/

 

Quality Assurance and Mineral Resource Notes:

 

RC samples were processed per the Company's quality assurance policy whereby chain of custody is controlled at site by the Company's site geologist who transfers the samples directly to an ALS Chemex representative at site or in Hermosillo, Sonora, Mexico. ALS Chemex has provided assay results to only those within Azteca's control pursuant to the list provided to them by Matt Russell.

 

Assay methods include atomic absorption method for Au and intercoupled plasma ("ICP") analysis for Ag. Assay Detection Limits: 0.005 ppm for Au and 0.5 ppm for Ag.

 

There has been insufficient exploration or geological analysis done to define a mineral resource and it is uncertain if further work will result in the delineation of a mineral resource.Dip of the Main GAT Vein may vary and intercept widths given must be interpreted based on the dip of the drill holes.

 

High Grade "Chutes":

 

43-101 technical document for Guerra al Tirano refers to the high grade veins and stockwork or what can be collectively called a "chute" as depicted in Figure 6 of the NI 43-101 technical document. The author refers to reasonable average grades and widths and reports that the adjacent footwall and hangingwall quartz stockwork/silicified zones extend up to 7 meters away from the vein. The maximum total width is about 17 meters. Assay results from 10 locations where we could cut samples across most or all of the mineralization shows that the zone (vein and stockwork) has an average width of 5 meters and an average grade of the samples taken was 2.88 ppm Au (0.08opt) and 202 ppm Ag (5.9opt). This is in substantial agreement with the average grade reported in the Guerra al Tirano Mine by the Consejo de Recursos Minerales (1994, p. 232) of 3.73 ppm Au and 294 ppm Ag. (ref: GAT NI 43-101 dated May 11, 2006 and titled: "The Report on the Geology and Current Status of the Guerra al Tirano Silver-Gold Property, Temoris District, Chihuahua, Mexico" page 10 under heading "Minerology and Grade"). 1 ppm is 1 g/tonne.

 

The information contained in this news release has been reviewed and approved by Richard Nanna, a director and the Company's Qualified Person as defined in National Instrument 43-101.

For further information, please contact:

Azteca Gold Corp.
Matthew Russell, President
Telephone: 1-509-464-0172
Email:
info@azteca-au.com
Website:
www.azteca-au..com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

WARNING: the Company relies upon litigation protection for "forward looking" statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary material include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

 

 

 

 

Azteca Gold Corporation | Suite 315 | 8921 N. Indian Trail Rd. | Spokane | WA | 99208

Azteca Gold Corporation

EXPLORATION STAGE
CODE : AZG.V
ISIN : CA 05501A1003
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Azteca Gold is a gold development stage company based in United states of america.

Its main exploration properties are MARIETTA in USA and GUERRA AL TIRANO, GEROE and TWO MILE in Mexico.

Azteca Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 1.8 millions as of today (US$ 1.8 millions, € 1.4 millions).

Its stock quote reached its highest recent level on December 31, 2007 at CA$ 0.98, and its lowest recent point on May 03, 2012 at CA$ 0.01.

Azteca Gold has 358 113 000 shares outstanding.

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Annual reports of Azteca Gold Corporation
2007 Annual Report
Annual report 2006
Financings of Azteca Gold Corporation
11/8/2007Announces Closing of Private Placement and Update on Explora...
Project news of Azteca Gold Corporation
2/4/2008(Guerra Al Tirano)5 FT RC Intercepts as High as 451 g/t Silver and 9.8 g/t Gol...
1/8/2008(Guerra Al Tirano)Gold and Silver Drill Intercepts Reported at Guerra Al Tiran...
11/12/2007(Santa Matilde) Mexican Santa Matilde Acquisition Closes and Drilling Targe...
11/1/2007(Guerra Al Tirano)First Guerra al Tirano Diamond Drill Core Assays Released
10/25/2007(Two Mile)Drilling Begins at Silver Valley Two Mile Project
10/20/2007(Guerra Al Tirano)Drilling Progress Updated for Guerra
10/11/2007(Guerra Al Tirano)Surface Geochemical Results Reported and Layne de Mexico
2/20/2008(Guerra Al Tirano)2008 Technical report
Corporate news of Azteca Gold Corporation
3/23/2011(Two Mile)Provides Update on Two Mile Assay Program
10/18/2007Drill Permits Received for Silver Valley
9/19/2007Surface Geochemical Results Reported and Layne de Mexico...
9/7/2007Purchase of Marietta Complete and Exploration Progress
8/31/2007Bunker Hill Mine Option Signed
8/15/2007Silver Valley Two Mile Property Joint Venture
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