News Update
Azteca Gold Corp.: Purchase of
Marietta Complete and Exploration Progress
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September 7, 2007
Shares issued: 76,324,141
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Symbol: TSX-V:AZG
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SPOKANE, WASHINGTON--(Marketwire - Sept. 7, 2007) - Matthew Russell,
President of Azteca Gold Corp. (the
"Company") (TSX VENTURE:AZG) announces that the Company has
completed the arms-length purchase of a 100% interest in the Marietta
property, which consists of approximately 122 patented and unpatented
claims located in Mineral County in Nevada. On the 13 patented claims
there is a 1% NSR royalty. The Company paid US$150,000 in cash and issued
a total of 5,500,000 common shares at a deemed price of $0.45 per share. These
shares are subject to a hold period ending January 12, 2008. The Company
has received an independent technical report, compliant with NI 43-101,
on this property from Edward Brennan of Brisbane, Australia, which will
be available on SEDAR and the Company website.
Russell also announced the
completion of geophysical and geochemical testing on approximately the
southern 1/3 of the claim block at this wholly owned gold/silver/copper
project in the Walker Lane trend of west central Nevada. "While
completing due diligence work on title, we took advantage of the time to
complete both a geophysical and a geochemical program," explains
Russell. "With this work having been completed over the last three
months, we have now identified multiple drill ready targets for primarily
gold and silver mineralization with significant base metal
potential," added Russell..
The geophysical program was
carried out by Quantec Geosceince
USA Inc. ("Quantec") of Reno, Nevada.
The purpose of the program was to better define the detachment faults and
mineralized structures evident on the surface of the Company's patented
claim block and immediately adjacent unpatented claims. Quantec utilized both Induced Polarization
("IP") and Magnetometry
("MAG") in the course of the program. Analysis of the
geophysical data by Quantec indicates a series
of parallel, near surface chargeability features which may represent
these mineralized structures. In addition Quantec
identified a larger, underlying chargeability feature which may represent
an intrusive. Both the IP and the MAG results confirm and reinforce our
understanding of the underlying structures and positively indicate the
potential for strong mineralization. Please see the Company website at
www.azteca-au.com for newly-posted plots of IP and MAG data as well as
geochemical maps for gold, silver, and copper.
The soil sample program was
completed by Mineral Exploration Services of Reno, Nevada over the same
area as was the IP and MAG. From these two programs and from ongoing surface
mapping, a number of high priority drill targets have been identified and
are being prepared for drilling. Azteca's
intention is to mobilize one of its Longyear
diamond drills to the site by October 1, 2007 to begin drilling these
targets.
This press release has been
reviewed by John Mears, who is the qualified person for this press
release as defined by 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
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.
The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or accuracy
of this release.