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Azteca Gold (AZGFF)
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10/30/2018 1:29:59 PM
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PROJECT IN HAND
(1) Guerra al Tirano (GAT) Project - Sierra Madre, Temoris, Chihuahua, Mexico
Azteca Gold Corporation through its wholly owned Mexican subsidiary, Minera Azteca de Oro y Plata, S.A. de C.V. ("Minera Azteca"), has entered into an agreement with the Ejido Guerra al Tirano of Chinipas, Chihuahua, pursuant to which Minera Azteca has the right to use Ejido land covering approximately 95 hectares of the Company's mining concession in Chihuahua for all activities necessary for the exploration, development and production of potential ore deposits.
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Tres de Mayo (TDM) Concession
The Guerra al Tirano/Tres de Mayo exploration target area falls near the middle of a historically productive gold-silver belt near Temoris, Chihuahua. The Tres de Mayo concession is the southernmost of the 3 concessions which make up the Guerra al Tirano Project. The closest gold exploration and development to the Guerra al Tirano/Tres de Mayo targets is the Palmarejo deposit controlled by Palmarejo Gold, 11 km on trend to the northwest.
Azteca has signed an agreement with Layne de Mexico, S.A. de C.V. for 5,000 metres of reverse circulation (RC) drilling. The Company has received gold and silver assays for the first core hole GAT-07-DDH-002, which over a true width of 27.5 ft averaged 0.55 g/t Au and 46.7 g/t Ag.
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The Company awaits assays for the other 4 core holes and the RC holes in process. Assays and core logs for these 5 core holes and 33 RC holes are expected to allow the Company to define an initial resource on approximately the northernmost 1.6 km of the 2.5 km strike length of the Guerra al Tirano Project during the fourth quarter of 2007. With the Tres de Mayo lower drill road nearing completion, the Company has kicked off a two phase exploration program aimed at outlining a gold equivalent resource. The first phase of surface program will see the exposed vein mapped and sampled over the full North-South extent of the concessions. The second phase will employ step-out diamond drilling on the Tres de Mayo concession. Success in establishing a resource will lead to further exploration in fourth quarter of 2007 and into 2008 to improve the quality and extent of the resource.
(2) Santa Matilde (MAT) Project, Chihuahua, Mexico
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Azteca Gold Corporation through its wholly owned Mexican subsidiary has entered into an arms-length agreement of transfer of ownership of the Santa Matilde Mineral Concessions located on and surrounding the town of Santa Matilde, Chihuahua about 20 km to the southwest of the regional mining town of Temoris, Chihuahua. The Company's flagship exploration project Guerra al Tirano is located nearby, 9 km to the northwest of Temoris. The Matilde Concessions stretch approximately 7.5 km north to south and cover approximately 2,677 hectares, and contain several historic workings. The drilling targeted to begin on the first quarter of 2008.
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(3) Marietta (MAR) Project, Mineral County, Nevada
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Azteca Gold's 100% owned Marietta property is located in the Marietta Mining District of Mineral County, Nevada. The property consists of approximately 122 patented and unpatented claims. On the 13 patented claims there is a 1% NSR royalty.
The Company has received an independent technical report, compliant with NI 43-101, on this property from Edward Brennan of Brisbane, Australia. Diamond core drilling is underway at the Marietta project. A 10,000 ft reverse circulation (RC) drilling will start on December 1, 2007.
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The Company's objective is to delineate a gold resource within the upper geophysical detachment fault targets as well as to test the lower geophysical target underlying the volcanics.
(4) Two Mile (TWO) Project, Silver Valley, Shoshone County, Idaho
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Azteca Gold Corporation has entered into an arms-length joint venture agreement to acquire up to 50% of the Silver Valley Two Mile property located in Shoshone County, Idaho. The Two Mile property is owned by Silver Royal Apex, Inc. of Wallace, Idaho and is comprised of 118 unpatented claims. Diamond core drilling has begun and is expected to continue throughout the fourth quarter of 2007.
(5) Bunker Hill (BNK) Project, Kellogg, Idaho
Azteca Gold Corporation has signed an arms-length option agreement in respect to the Bunker Hill Mine property located in Kellogg, Idaho. The mine is currently owned by the New Bunker Hill Mining Company of Kellogg, Idaho. The Bunker Option gives Azteca the extensive rights to purchase 100% interest in the mine with no residual royalty.
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The Bunker Hill Mine property comprises 518 patented mining claims covering approximately 6,500 acres. Historic production at the Bunker Hill Mine is approximately 35.8 million tons grading average 8.76% lead, 3.67% zinc and 4.52 oz/t silver. There are no current reserve or resource estimates for the Bunker Hill Mine that are NI 43-101 compliant. The Company has received an independent NI 43-101 compliant technical report from Edward Brennan of Brisbane, Australia.
The Company plans to do further evaluation work on the property over the next few months. The Company is exploring possibilities with potential investors and joint venture partners to assist it in moving the Bunker Hill Mine back into production.
Azteca Gold Corporation has a well management team with experience in different areas.
Officers and Directors
Matthew F. Russell, President, CEO & Chairman
Mr. Russell was EVP Operations and Chief Operating Officer of Idaho General Mines, Inc. (AMEX:GMO) from first quarter of 2004 until second quarter of 2006. Mr. Russell was instrumental in Idaho General acquiring the Mount Hope and Hall-Tonopah Molybdenum Properties, and being quoted on the AMEX. Mr. Russell has 15 years of project management experience in the mining sector and has managed mine feasibility studies, mine plant design, development of a new hydrometallurgical process, coal preparation plant construction, and design and construction of mobile and overland conveyors for the copper and gold heap leach industries. Mr. Russell received his MBA from Gonzaga University in 1998.
Randy Squires, Chief Financial Officer
Mr. Squires is President of Partition Specialties, Inc., a private, commercial construction company in California. During his 16 year tenure he has held positions including Controller and Vice President of Business Development and Strategy. As Controller his responsibilities included budgeting, cash management, financial statement preparation and analysis, audit preparation, and bank, bonding and insurance relationship management. He received his MBA from Golden Gate University in 1995.
Jon Slizza, Vice President of Finance and Investor Relations
Mr. Slizza joins Azteca Gold bringing more than 17 years experience in financial analysis, business funding and development, and institutional sales in the financial services and natural resource industries. During his career, Mr. Slizza has served as a Managing Director of the investment banks Shoreline Pacific, LLC, and the Shemano Group in San Francisco; a Senior Partner with London based financial consultant Alegent Partners; a Director of Business Development at Sectorbase.com - acquired by Reuters; and various financial analyst and portfolio management positions at Morgan Stanley Dean Witter, Prudential Securities, and Lincoln Financial. A graduate of the University of California, Santa Barbara with a BA in Economics, Mr. Slizza began his career as a financial analyst at Philips Petroleum in Europe.
Edward Schiller, Director
Dr. Schiller has a Ph.D. in Geology and has been a consulting geologist in Canadian and international mineral exploration for over 45 years. Dr. Schiller has served on the board of a number of publicly traded companies in Canada.
Richard F. Nanna, Director
Mr. Nanna is currently Senior Vice-President, Exploration with a Denver-based gold corporation, with over 30 years experience in the mining and exploration industry in Nevada and abroad. Mr. Nanna is perhaps best known for his work on the Getchell Project in Nevada in the 1990's where he discovered over 12 million ounces of gold.
John Mears, Vice President of Operations and Exploration
Mr. Mears is a Registered Professional Geologist with over 12 years of experience working in the mining and exploration industry for several major exploration companies in Nevada, Utah, and abroad. His experience ranges from field geology to production management and finance due diligence. He is currently a Director of Nevada Star.
On November 22, 2007, Azteca Gold Corporation announced that the TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced November 8, 2007.
Number of shares: 7,260,949 units (each unit consists of one common share and one share purchase warrant)
Purchase price: 70.5 cents per unit
Warrants: 7,260,949 share purchase warrants to purchase 7,260,949 shares
Warrants exercise price: 88 cents for a period of two years from the closing date.
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