Two Mile JV

(The following text has been extracted from the 43-101 technical reports)

Azteca has earned a 50% ownership stake in the Two Mile Project, having completed the milestones set out in the Joint Venture Agreement with Silver Royal Apex.  The two companies, currently led by Azteca as Operator, are aggressively exploring the geology and potential mineralization of the TwoMile Creek area, which lies along the TwoMile Fault.  The TwoMile Fault runs roughly east-west and intersects both the Osburn Fault near Osburn and the Hope Fault north of Murray, Idaho.

Azteca completed Phase I of the exploration project during 2007 and 2008, which included surface mapping, geophysical surveys, and the drilling of several shallow holes and one deeper hole in two campaigns. During 2009, Azteca will conduct further drill testing of several targets, with a view towards determining the potential of the project.

The Two Mile Project is situated in the Coeur d’Alene Mining District of Shoshone County, Idaho.  This area, popularly known as the Silver Valley, has hosted over 90 historical mines and produced in excess of a billion ounces of silver over the last 120 years of nearly continuous mining history.  The project location is sub-alpine, and in low foothills of gentle to moderate terrain.  The area receives an annual average of 25 inches of rainfall and 48 inches of snowfall, and the climate is suitable for year-round exploration operations.  A trained mining workforce is available in the communities comprising the Silver Valley, and all necessary supplies, equipment and services exist to carry out efficient exploration and mine development work.

The Two Mile Project lies within the Middle Proterozoic depositional basin of the Belt Supergroup, which is a thick sequence of medisedimentary rocks, primarily quartzites, argillites, and minor carbonates.  The  Stratigraphy is composed of primarily the Revett, Burke, and Prichard Formations with minor amounts of igneous rocks.  The monzonitic Gem Stock is approximately 5 miles to the east of the project area.

Click here to view the 43-101 Report

* Click to view 2010 Updated 43-101

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