Azteca Gold Corp.
TSX VENTURE : AZG

Azteca Gold Corp.

September 15, 2009 15:24 ET

Azteca Intercepts Targeted Carbonates at Two Mile; Plans for Down-Hole Geophysics

SPOKANE, WASHINGTON--(Marketwire - Sept. 15, 2009) - Matthew Russell, President of Azteca Gold Corp. (TSX VENTURE:AZG) (the "Company") wishes to announce recent drilling and assaying progress on its 50% owned Two Mile Project and provide an update on near-term plans for down-hole geophysics in holes DDH-005B and DDH-006B.

In a July 3, 2009 press release the Company laid out its plan for drill targets in DDH-005B and DDH-006B. "We have intercepted zones of carbonate enrichment as we anticipated, as supported by the assay data (in the first two of the four tables) below," said Matt Russell.

Current depth of DDH-005B is 10,243 FT and DDH-006B is at 11,345 FT. TD for DDH-006B is set at 11,600 FT. "Currently we are prepared to drill deeper through the carbonates on DDH-006B," explained Russell, "but we will await results of our planned geophysics program to make a final determination." A new TD for DDH-005B will be set after geophysics is accomplished.

The Company has contracted Scintrex of Concord, Ontario, Canada for down-hole gravity geophysics in holes DDH-005B and DDH-006B. The Company expects to begin a two week geophysics program before the end of September.



DDH-006B - Carbonate and Metal Averaged Assays - 11,036.5 to 11,345.0 FT

From To (FT) Inter. Ca(%) Fe(%) Mg(%) CO3 Cd Zn
(FT) (FT) (%)(ppm) (ppm)
11,036.5 11,086.5(i) 50.0 1.04 3.35 0.71 2.94 less 34.1
than
1.0
11,086.5 11,136.5(i) 50.0 1.02 2.78 0.61 3.05 less 44.7
than
1.0
11,136.5 11,186.5 50.0 5.63 5.98 2.68 12.57 1.45 73.7
11,186.5 11,236.5 50.0 4.11 4.62 1.73 10.34 1.56 59.7
11,236.5 11,286.5 50.0 4.95 4.43 1.63 12.72 1.70 50.1
11,286.5 11,345.0 58.5 5.29 5.44 2.37 15.67 1.51 75.6

(i) These two 50 FT intervals are included only to demonstrate the abrupt
change in Ca and CO3 starting at approximately 11,136.5 FT.


The assays for the typical 2.5 FT assay intervals that make up this 208.5 FT intercept from 11,136.5 Ft to 11,345.0 FT range as follows: calcium (Ca) ranges from 1.47% to 8.26%, carbonate ion (CO3) ranges from 4.09% to 26.5%, Cd ranges from less than 1.0 ppm to 2.7 ppm, and Zn ranges from 11.2 ppm to 123 ppm.



DDH-005B - Carbonate and Metal Averaged Assays - 9,897 to 10,243 FT

From To Inter Ca Fe Mg CO3 Cd Zn Pb
(FT) (FT) (FT) (%) (%) (%) (%) (ppm) (ppm) (ppm)
9,846 9,897(ii) 51.0 0.51 4.40 0.84 less less 92.2 less
than than than
1.0 1.0 5.0
9,897 9,947 50.0 0.48 4.02 0.78 3.48 1.12 91.3 10.2
9,947 9,998 51.0 0.92 2.64 0.53 3.20 less 43.8 less
than than
1.0 5.0
9,998 10,046 48.0 0.59 2.94 0.57 2.47 less 42.8 less
than than
1.0 5.0
10,046 10,097 51.0 0.63 3.22 0.62 2.50 less 58.7 less
than than
1.0 5.0
10,097 10,147 50.0 0.62 3.33 0.66 2.96 less 53.1 less
than than
1.0 5.0
10,147 10,197 50.0 0.71 3.58 0.65 3.14 1.27 90.4 12.5
10,197 10,243 46.0 0.37 3.71 0.66 2.70 1.44 103.8 12.5

(ii) This 51 FT interval is included only to demonstrate the abrupt change
in CO3 concentration starting at approximately 9,897 FT.


The assays for the typical 2.5 FT assay intervals that make up this 346 FT intercept from 9,897 FT to 10,243 FT range as follows: calcium (Ca) ranges from 0.16% to 3.55%, carbonate ion (CO3) ranges from less than 1.00% to 8.77% (there is only one value less than 1.00% within one typical 2.5 FT assay intervals that make up the 346 FT intercept), Cd ranges from less than 1.0 ppm to 2.3 ppm, Zn ranges from 10.4 ppm to 426 ppm, and Pb ranges from less than 5.0 ppm to 64.1 ppm.



From To Inter Au Ag Cu Pb Zn As S
(FT) (FT) (FT) (ppb) (ppm) ppm ppm ppm ppm (%)

Min. less less 6 3 19 15 0.3
than than
5 2.0
9,989.0 10,011.5 22.5 Na Na 50 567 401 121 2.8
Max. 189 4.4 306 3530 2640 833 14.3
Min. less less 13 11 106 less 0.3
than than than
5 2.0 5.0
10,826.5 10,839.5 13.0 Na Na 160 1449 6675 na 2.1
Max. 49 4.0 590 4000 22400 125 5.8


Note: The middle row in each set of data is the average assay result for the
interval.

Average Assay and Min/Max Assay Results for selected Zones in DDH-005B

From To Inter Au Ag Cu Pb Zn As S
(FT) (FT) (FT) (ppb) (ppm) ppm ppm ppm ppm (%)

Min. less less 14 less 26 29 0.1
than than than
5 2.0 5.0
8,773.5 8786.0 12.5 Na Na 43 na 68 246 0.6
Max. less less 102 less 128 761 1.6
than than than
5 2.0 5.0
Min. less less 8 17 78 less 0.2
than than than
5 2.0 5.0
9,507 9,539.5 32.5 Na Na 30 888 1865 na 0.4
Max. 6 2.9 50 2390 6430 39 0.9


Note: The middle row in each set of data is the average assay result for the
interval.
ppm - parts per million ppb - parts per billion


Assay and Interval Qualifications

Assays are uncut. True interval widths are not determinable at this time. Some irregular and short intervals have been taken to facilitate mineral identification.

Quality Assurance and Assay Specifications

Diamond drill core samples were processed per the Company's quality assurance policy whereby chain of custody is controlled by Azteca technical personnel who transferred the samples directly to an independent Washington State DOE-certified lab, American Analytical Services, Inc., located in Osburn, Idaho. The assay lab has provided assay results to only those within Azteca's control pursuant to the list provided to them by Matt Russell. Material assays are considered preliminary by the Company until check assays are received.

Assay methods include fire assay for Ag and Au. ICP (inter-coupled plasma) was used for lead, zinc, copper, cadmium, sulfur, arsenic, and carbonates anions Ca, Fe, and Mg. Carbonate (CO3) was titrated.

The technical and scientific information contained in this news release has been prepared by or under the supervision of Richard Nanna (Professional Geologist, State of Washington, Certification No. 1398) a Company director and the Company's QP for this press release as defined in National Instrument 43-101.

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.

Shares issued: 182,994,331

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • President of Azteca Gold Corp
    Jon Slizza
    VP of Finance and Investor Relations
    (509) 981-2020
    info@azteca-au.com