Aztec Drills 8.14 gpt Gold and 49.67 gpt Silver over 36.5 meters, including 58.5 gpt Gold and 158.0 gpt Silver over 4.6 meters, at the Tombstone Project, Arizona
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On November 4, 2025, Aztec Minerals announced high-grade gold and silver drill results from its Tombstone Project in Arizona. The highlight was drill hole TR25-17, which intersected 8.14 grams per tonne (gpt) gold and 49.67 gpt silver over 36.5 meters. This intercept included a bonanza-grade core of 58.5 gpt gold and 158.0 gpt silver over 4.6 meters.
CEO Simon Dyakowski stated this represents "one of the strongest Gold results encountered to-date at the Tombstone Project."
The company also provided an operational update, noting that the Reverse Circulation (RC) drilling program of 29 holes (4,900 meters) is complete, with results for 16 holes still pending. The core drilling portion of the program has been temporarily paused due to mechanical issues but is expected to resume within two weeks.
This news is materially positive and provides strong validation for the exploration model at Tombstone, demonstrating the project's potential for high-grade gold in addition to the previously reported high-grade silver.
Reviewing the historical news flow shows a clear and successful progression of the company's strategy: - Late 2024 - Early 2025: Aztec's drilling consistently returned long intercepts of oxide gold-silver mineralization (e.g., 103.6m of 0.75 gpt AuEq) and occasional bonanza-grade silver hits (e.g., 7,269 gpt AgEq over 1.52m in January 2025). This confirmed the presence of a large, mineralized system. - Q2 2025: Facing a low cash position (C$302k at March 31), the company successfully raised C$3.6 million in May at C$0.18, with participation from strategic resource fund Crescat Capital. This financing was critical to fund the next phase of exploration. - Mid-2025: The company commenced a new 5,000-meter drill program in June. By August and September, this program was delivering excellent high-grade silver and gold results (e.g., 2,149.5 gpt AgEq over 3.04m on Sept 23). - September - October 2025: The strong drill results in September catalyzed a significant stock price increase from ~C$0.22 to a high of C$0.32. Management astutely used this market strength to secure the company's financial future, announcing a C$5 million bought deal financing with Stifel Canada, which was subsequently upsized and closed for C$10 million at C$0.235 per share.
The latest news of 8.14 gpt gold over a substantial width of 36.5 meters builds directly on this momentum. It confirms another high-grade precious metals vector at Tombstone and comes just after the company has filled its treasury. They are now in an enviable position: fully funded with approximately C$12 million pro-forma cash to aggressively follow up on a series of exceptional drill results.
While the market often sees a pullback after a large financing, these strong results should provide fundamental support at or above the C$0.235 financing price. The key challenge for the company is the significant increase in shares outstanding from recent financings, but the exploration success appears to justify the dilution. The temporary pause in core drilling is a minor operational issue and not a material concern.
Aztec Minerals Corp. is a junior exploration company focused on precious and base metals in the Americas. The company has two key projects: 1. Tombstone Project (Flagship): Located in Arizona, USA, Aztec holds an 85% interest in this project. Tombstone is a historic silver and gold mining district. Aztec is exploring for both shallow, bulk-tonnage, heap-leachable oxide gold-silver mineralization (similar to what was historically mined) and deeper, high-grade, carbonate-replacement-deposit (CRD) style silver-lead-zinc mineralization. Recent drilling has been highly successful in expanding the shallow oxide footprint. 2. Cervantes Project: Located in Sonora, Mexico, this project is a porphyry gold-copper prospect. While the company has had exploration success here, the primary focus and news flow have been on Tombstone.