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News Update
Gold and
Silver Drill Intercepts Reported at Guerra Al Tirano
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Jan 7, 2008
Shares issued: 107,385,751
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Symbol: TSX-V:AZG
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SPOKANE, WASHINGTON--(Marketwire - Jan. 7, 2008) - Matthew Russell,
President of Azteca Gold Corp. (the
"Company") (TSX VENTURE:AZG) announces that the Company has
received and processed gold and silver assays for 5 diamond drill holes
and 7 reverse circulation ("RC") holes of a 29 hole 17,725 FT RC
program recently completed by Layne de Mexico. The diamond drill holes
and RC drilling intersected significant mineralization in each of the
sampled intervals across the Main GAT Vein and extending into the hanging
wall. The Main GAT Vein demonstrates bonanza-type mineralization such as
a five foot drill interval of 365 g/t Ag and 1.525 g/t Au in RC Hole -009
as well as disseminated mineralization such as a 50 foot interval of
104.78 g/t Ag and .516 g/t Au in RC Hole -013.
"Of particular note,"
explains Russell, "the RC drilling program has identified potential
parallel vein structure to the Main GAT Vein. Preliminary geologic logs
of the RC chips and available assay data indicate intervals of
significant mineralization which merits further investigation.
Average assays over bulk
intercepts in grams/metric tonne ("g/t"):
Hole
From (ft) To (ft) Interval
(ft) Ag (g/t) Au (g/t)
RC-005
285
440
155 27.55
0.16
RC-006
280
300
20 44.53
0.25
RC-007
235
265
30
41.8 0.11
RC-007
270
280
10 101.4
0.11
RC-008
270
325
55
22.96 0.12
RC-009
215
555
340 19.75
0.12
RC-010
220
290
70
35.9 0.32
RC-013
210
260
50
104.78 0.516
Some of the better intervals
include:
Hole
From (ft) To (ft) Interval (ft)
Ag (g/t) Au (g/t)
RC-005
400
405
5
131 0.938
RC-007
245
250
5
87.2 0.418
RC-007
270
275
5
114 0.128
RC-009
295
300
5
365 1.525
RC-009
350
355
5
121 0.684
RC-009
545
550
5 48.3
0.772
RC-010
220
225
5
81.2 0.967
RC-010
240
245
5
67.5 0.386
RC-010
245
250
5 98.6
0.6
RC-010
255
260
5
49.6 0.601
RC-010
275
280
5
55.7 0.975
RC-013
210
215
5
107 0.668
RC-013
220
225
5
134 0.6
RC-013
225
230
5
253 1.49
RC-013
230
235
5
233 0.994
RC-013
235
240
5
182 1.16
The Company awaits assays for the
remaining RC holes, which may penetrate bonanza-type "chutes",
may further define disseminated mineralization in the hanging wall, and
may further define any parallel vein structures in the hanging wall and
footwall of the Main GAT Vein.
In addition to assays for the RC
holes, assays for the 5 diamond drill core holes have also been received
and processed by the Company and have allowed it to further define the
mineralization in the Main GAT Vein.
Average assays over bulk
intercepts:
Hole
From (ft) To (ft) Interval
(ft) Ag (g/t) Au (g/t)
DDH-001
110
124.5
14.5
108 0.462
DDH-001
137.5
175
37.5
72.1 0.372
DDH-001
205
215
10
40.3 0.148
DDH-001
234
284
50
36.3 0.547
DDH-002
72.5
210
137.5 32.7
0.278
DDH-003
162
218
56 18.71
0.052
Noteworthy intercepts
include:
Hole
From (ft) To (ft) Interval
(ft) Ag (g/t) Au (g/t)
DDH001
115.0
120.0
5.0
269 1.19
DDH001
153.5
157.0
3.5
98 0.35
DDH001
157.0
162.0
5.0
118 0.59
DDH001
162.0
167.0
5.0
90.6 0.28
DDH001
172.0
175.0
3.0
130 0.99
DDH001
265.0
268.0
3.0
23.2 0.94
DDH001
268.0
271.5
3.5
14.4 1.42
DDH001
271.5
278.5
7.0
24.4 1.75
DDH001
278.5
280.5
2.0
42.9 0.69
DDH002
150.0
155
5.0
58 0.27
DDH002
160.0
165
5.0
57.5 0.50
DDH002
175.0
180
5.0 96.4
0.54
DDH002
180.0
185
5.0 44.9
1.02
DDH002
185.0
190
5.0
58.3 1.20
DDH002
190.0
195
5.0 29.5
0.90
DDH002
200.0
205
5.0
70 0.76
Location information for RC holes
and Diamond Drill holes:
Total
Drill
Elevation
Azimuth Dip
depth
hole
Easting
Northing (ft)
(degrees) (degrees) (ft)
RC-005
760252
3022985
3945
0 -90
800
RC-006
760255
3022981
4123
315 -60
400
RC-007
760250
3022980
4110
270 -60
500
RC-008
760253
3022990
4104
225 -60
450
RC-009
760259
3022914
4117
0 -90
660
RC-010
760256
3022912
4106
315 -60
385
RC-013
760236
3022752
4169
0 -90
500
DDH-001
760149
3023079
4151
0
-90 335
DDH-002
760230 3022989
4121
0
-90 295
DDH-003
760196
3022866
4053
0
-90
236
Modeling of Mineral Resource and Further Drilling
Planned:
Work is progressing on a mineral
resource model for the upper portion of the Main GAT Vein. Potential
down-dip extensions of the vein will be investigated with future
drilling. Road and pad-building work is complete for the next phase of
on-strike drilling on the roughly .9km of the adjacent Tres de Mayo concession. This drilling is expected to
take place during Q1 and Q2 of 2008.
Quality Assurance and Mineral
Resource Notes:
Core and 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 results are
preliminary and will be confirmed by the Company.
Assay methods include atomic
absorption method for Au and intercoupled
plasma analysis for Ag. Assay Detection Limits: 0.005 ppm
for Au and 0.5 ppm for Ag.
The potential quantities and
grades reported within this press release are conceptual in nature, being
from limited diamond drill core and RC data. There has been insufficient
exploration to define a mineral resource and it is uncertain if further
exploration will result in the delineation of a mineral resource.
High Grade
"Chutes":
The NI 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:
"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 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.
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.