Azteca Gold Corp.

Azteca Gold Corp.

September 15, 2009 10:09 ET

Azteca Plans Down-Hole Geophysics at Two Mile Project

SPOKANE, WASHINGTON--(Marketwire - Sept. 15, 2009) - Matthew Russell, President of Azteca Gold Corp. (TSX VENTURE:AZG) (the "Company") wishes to announce that the Company has contracted Scintrex Limited, of Concord, Ontario, Canada, to perform down hole geophysics on its current drill holes DDH-005B and DDH-006B at its 50% owned Two Mile Project in the Silver Valley in Idaho using Scintrex's proprietary down hole technology.

A spokesman for Scintrex advised "Azteca Gold Corp has signed a contract with Scintrex for in-hole gravity meter geophysics. Scintrex is the developer of a new borehole gravity meter for mining and geotechnical applications, designed to log inside NQ drill rods to within a sensitivity of better than 5 µGal, and operable in deep boreholes inclined from 30 degrees off horizontal to vertical. The field tests of the prototype probe were successfully conducted for a number of sponsor companies including Vale Inco in a deep borehole located in Norman township near Sudbury, Ontario.

Gravity measurements inside boreholes provide evidence of density variations both in the immediate vicinity and at a distance from the hole. Scintrex's development of a new borehole gravimeter will, for the first time, allow the application of gravity logging in typical mining and geotechnical boreholes.

Primary applications of the Gravilog system in mining include the sensing and mass-estimates of massive sulphide bodies, either intersected by or remote from the hole; and accurate bulk density measurements of formations intersected by the hole More information on deep gravity meter capability can be found at their sister company website or"

Azteca intends to start this geophysical study within the next 10 days and expects it to take approximately 14 days to complete.

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

  • Azteca Gold Corp.
    Jon Slizza
    VP of Finance and Investor Relations
    (509) 981-2020