Vedanta to exclude base metals business from sweeping demerger
The group said it will consider the base metals business demerger at a later stage.
Aztec Minerals (TSXV: AZT) recently flew a magnetic and radiometric survey over its Cervantes copper-gold project in Sonora, Mexico, that identified 11 porphyry targets. Follow up work by the company will initially target four main targets: California, Estrella, California North and Purisima East.
The survey supports the company’s belief that the project contains multiple porphyry cells along a northeast-southwest orientation. It says the data confirms its prediction that Cervantes is a district scale property centered partly on the California target.
The company intends to complete detailed mapping, rock and soil sampling and possibly IP geophysics to confirm possible drill targets.
In mid-March 2019, the company confirmed five carbonate replacement deposit (CRD) target areas on its Tombstone silver-lead-zinc property in in Cochise County, Arizona, by modelling data from a recent magnetic survey it flew over the property. Aztec had previously identified three CRD targets through geological mapping and sampling; its new model added two more targets and better defined the pre-existing three.
Aztec optioned the Tombstone property from Baroyeca Gold & Silver (TSXV: BGS) in late 2017. The company can acquire a 75% interest in the property by spending C$1 million on exploration, issuing Baroyeca 1 million shares and paying Baroyeca C$100,000 over three years. It has exceeded its first year exploration expenditures and begun the option’s second year.
(This article first appeared in The Northern Miner)
