Aztec Metals Corp.
Aztec Metals Corp. is a junior mineral exploration company based in Vancouver BC engaged in the aquisition, evaluation and exploration of polymetallic properties in Mexico. The company’s initial focus is the Matehuala property in the northern part of the State of San Luis Potosi in central Mexico. The company’s objective is to discover, define and develop an economic mineral deposit that attracts support from institutions as well as the investing public while creating significant growth in the value of the corporation.
The company has pending applications for nearly 445,000 hectares in two project areas. At Matehuala, an initial 50,000 hectares was optioned in December 2006. A further 57,000 hectares was acquired by staking. The property is 100% controlled by Aztec and its subsidiary. The Matehuala property has the potential to host a wide variety of deposits styles that include silver–lead-zinc–gold carbonate replacement deposits (CRD).
A second land package, named Charcas West, comprises 338,000 hectares acquired by staking. The Charcas West property is located 50 kilometers to the southwest of the Matehuala project and is prospective for Peñasquito-style gold diatreme-hosted mineralization (Peñasquito was taken over by Goldcorp, with reserves of 12.4 M oz Gold and 800 M oz of Silver).
Initial field evaluation in addition to favourable geology and the presence of historic mine workings on the Matehuala property led to the recommendation by Aztec Geologists to acquire the property. The property is located in the middle of a prolific mining district that includes several major active mines, historic mining centres and major new discoveries. Operating mines are La Paz (copper-gold), Charcas (CRD), and El Terminal de Providencia (lead-zinc-silver). New discoveries in the district include the gold-silver-lead-zinc Peñasquito Deposit (917 MT). Analysts view much of Goldcorp’s 9% increase in gold reserves and 37% increase in silver reserves for 2007 a result of successful exploration work at Peñasquito. In addition, the new Camino Rojo discovery gold (silver-lead-zinc) prospect owned by Canplats Resources Corp (TSXV symbol: CPQ) and similar in character to Peñasquito is located 40 km west of the Matehuala property.
Reconnaissance fieldwork, detailed geologic mapping and rock chip sampling carried out in the early part of 2007 has lead to the definition of several lead, zinc, silver (CRD) targets that were subsequently evaluated with induced potential (IP) geophysics. Ground geophysical surveys including IP and magnetics were carried out over three of the property’s targets during the later part of 2007. A 43-101 compliant technical report has been prepared by Discovery Consultants on the Matehuala targets as of January 2008. Encouraging results from the geophysical ground surveys and favourable geologic environment mapped has lead to the recommendation by Discovery to carry out an initial 4600 m, 16 hole diamond drill program. A 500 km magnetic and electromagnetic airborne survey is also recommended to generate additional targets in this highly prospective geological setting.
The cost of the proposed Phase 1 exploration program is $CAN 960,000. A Phase 2 exploration program would consist of further drilling to follow-up on results from the first Phase of exploration and continued generation of additional drill targets. A second Phase program is envisioned at $CAN 980,000.
The company is in the process of finalizing its preliminary prospectus for filing an application with the TSX Venture exchange with a vision to list around the third quarter of 2008 with an IPO in the $2 – 4M range. The accounting firm of Smyth Ratcliffe is at final stage of completing an audit of the company’s Financial Statements as of Feb. 19, 2008.
Corporate Information
Shares Outstanding, Dec 31, 2008: 18,880,798
Current Cash Position, Nov 30, 2008: $CAN 26,000
Directors:
Bradford Cooke
Patricio Varas
Leonard Harris
James Stypula
Stewart Lockwood
Officers:
Bradford Cooke – Chairman & CEO
David Thornley-Hall – Interim President
Philip Yee – VP Finance, CFO
Stewart Lockwood – Secretary
Auditors: Smythe Ratcliffe, Chartered Accountants
Solicitors: Vector Corporate Finance Lawyers
Head Office: 301-700 West Pender Street, Vancouver BC, V6C 1G8
|
