gold & silver exploration
Idaho, Nevada, Alaska & Mexico.
Message: Two Mile Update and Closing of Private Placement
| May 14, 2009 |
| Azteca Gold Corp.: Two Mile Update and Closing of Private Placement |
| SPOKANE, WASHINGTON--(Marketwire - May 14, 2009) - Azteca Gold (TSX VENTURE:AZG) wishes to provide an update on its drilling activities at the Two Mile Project in the Silver Valley of Idaho, as well as announce the closing of its recent financing. "In the roughly 48 hours since our last press release was issued, we have attained an additional 50 feet of core at DDH-006. The core shows visibly apparent strengthening of sulfide stock-work veining, which is noticeably wider and more prolific," said Matt Russell, president of Azteca. "The disseminated sulfides are also strengthening, now showing more of a bedded nature. In hole DDH-005A, as well as at the Sullivan Mine in Canada which we take as our nearest geologic model for Two Mile, the disseminated sulfides slowly aggregated with depth into bedded bands. Portions of these beds contained grades high enough to be called 'massive,' which remains our target in our current drill hole DDH-006." Azteca Gold closed its recent financing on Wednesday, May 13th. A total of 5,572,407 units were issued for total gross proceeds of $1,114,481.40. Management participated for approximately 24% of the second closing amount. Funds from this private placement will be used for drilling and assaying expenses at the Company's 50% owned Two Mile Project as well as for general corporate purposes. Shares issued pursuant to this closing are subject to trading restrictions until September 13, 2009. The information contained in this news release has been reviewed and approved by Matthew Russell, President and CEO, the Company's Qualified Persons as defined in National Instrument 43-101. |
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