Drill Results Routine +

Aztec Drilling Expands Oxide Gold-Silver Zone at Tombstone Project, Arizona; intersecting 0.62 gpt Au and 24.8 gpt Ag over 107.9m in Westside Area and 0.48 gpt Au and 12.6 gpt Ag over 112.5m at Contention Area

Aztec Minerals Expands Tombstone Oxide Zone but Dilution Risks Persist Despite Strong Drill Results

By The Northwire Desk — AI Analysis Apr 15, 2026 · 07:00 AZT · 0.26 Aztec Minerals Corp.

Executive Summary

Aztec Minerals announced drilling results from 14 RC drill holes at the Tombstone Property in Arizona dated April 15, 2026.
Key intercepts include 107.9m @ 0.618 gpt Au and 24.8 gpt Ag in hole TR26-14 within the Westside Area.
Another significant intersection reported is 112.5m @ 0.479 gpt Au and 12.64 gpt Ag at the Contention Area (Hole TR26-07).
The 2025-2026 drilling program totals 17,000 meters; 59 RC holes and 6 core drill holes are completed with 9 pending analysis.
Core drilling update notes hole TC25-04 reached 831.7m depth but terminated due to caving, encountering skarns at 575m.
Geological findings confirm expansion of the Contention Au/Ag zone to over 1km N-S on strike and 0.4km in width into the Westside area.
CEO Simon Dyakowski states these targets represent potential to reframe the project to a larger scale with shallow targets over 1km away from historic open pit operations.

Material Impact

The news confirms the successful execution of the expanded drilling program announced in March 2026 (NewsId 77286).
While grades are solid for bulk-tonnage oxide mineralization, they do not represent a new "bonanza" discovery compared to previous high-grade intercepts reported earlier in 2025 and early 2026.
The market has already reacted negatively to the stock price despite continuous positive news flow since January 2026 (Price dropped from $0.43 peak to $0.26 current).
This release is consistent with previous expectations regarding the Westside expansion targets; therefore, it lacks the "unexpected" element required for a Material - Positive rating.
The confirmation of >1km strike length supports resource growth but does not immediately alter the valuation without a formal resource estimate update.
Given the price trend and the incremental nature of this result relative to prior announcements, the impact is positive but routine in the context of an ongoing exploration campaign.

AZT · Price

Company Overview

Company Name: Aztec Minerals Corp. (TSXV: AZT, OTCQB: AZZTF).
Flagship Project: Tombstone Project, Arizona.
Project Type: Oxide gold-silver bulk-tonnage target with deeper carbonate-replacement deposit (CRD) potential.
Ownership: 85% JV interest held by Aztec Minerals; 15% held by Dragoon Resources.
Historical Production: ~32M oz Ag and 250,000 oz Au produced between 1878-1939.
Secondary Project: Cervantes Project, Sonora, Mexico (100% owned), focused on porphyry gold-copper exploration.
Management: Simon Dyakowski (CEO) and Allen David Heyl (VP Exploration).

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