Aztec Minerals Corp. Reports Significant Extension of Oxide Gold‑Silver Zone at Tombstone Project
Aztec Minerals Corp. (TSXV: AZT, OTCQB: AZZTF) announced today that its recent step‑out drilling at the Tombstone Project in Arizona has extended the identified oxide gold‑silver (Au/Ag) zone on strike to over 1 km. The results, released by the company in a series of press statements distributed on 27 January 2026, come from the southern portion of the Contention Target Area and reinforce the viability of the project as a prospective high‑grade deposit.
Key Drill Results
| Hole | Depth (m) | Average Ag Eq (g t‑1) | Average Au (g t‑1) | Highlighted Interval |
|---|---|---|---|---|
| TR25‑31 | 44.1 | 158.97 (77.7 Ag, 1.16 Au) | 1.16 | 3.0 m @ 990.78 g t‑1 Ag Eq (465.5 g t‑1 Ag, 7.50 Au) |
| TR25‑27 | 51.7 | 72.7 (42.9 Ag, 0.43 Au) | 0.43 | – |
| TR25‑28 | 62.3 | 41.3 (28.7 Ag, 0.18 Au) | 0.18 | – |
These data represent 45 reverse‑circulation (RC) holes completed during the 2025‑2026 drilling campaign, with an additional 15 RC holes pending release. The company also continues a core‑hole program (TC25‑04) aimed at penetrating the southern natural‑source audio‑frequency magneto‑telluric (NSAMT) target.
Strategic Implications
Lengthening of the Gold‑Silver System Extending the oxide zone to more than 1 km on strike substantially increases the target’s breadth, providing a stronger basis for resource estimation and potential mine planning. The high Ag Eq grades, particularly the 990 g t‑1 interval, underscore the economic attractiveness of the oxide component.
Progress Toward a Definitive Resource The recent drilling aligns with Aztec’s stated objective of delineating a high‑grade, near‑surface resource that could be amenable to conventional or open‑pit mining. The depth of the current intercepts (up to 62 m) and the presence of significant gold concentrations support the feasibility of a future resource definition exercise.
Momentum in Exploration The company’s disciplined drilling program, which now includes 45 RC holes and ongoing core drilling, reflects a structured approach to expanding the exploration footprint. By systematically stepping out from the known target, Aztec is reducing geological uncertainty and building a robust case for further development.
Market Context
Aztec Minerals Corp. trades on the TSX Venture Exchange, with a market capitalization of approximately 68.9 million CAD. The company’s share price, as of 25 January 2026, stood at $0.37 CAD, reflecting its high‑risk, high‑potential exploration profile. The negative price‑earnings ratio of ‑25.17 is typical for a company that has not yet generated revenue from a commercial operation.
Given the company’s focus on porphyry gold‑copper deposits across the American continent, the Tombstone results represent a pivotal milestone. Should subsequent drilling confirm the continuity and thickness of the oxide zone, Aztec could move closer to a resource estimate that would underpin a feasibility study.
Forward‑Looking Outlook
Aztec Minerals Corp. is poised to capitalize on its recent progress by:
- Publishing a Definitive Resource – Leveraging the expanded oxide zone to produce a Level 3 resource estimate in line with NI 43‑101 standards.
- Engaging with Engineering Partners – Initiating early feasibility studies to assess mine design, capital and operating costs, and recovery rates for the oxide and potential underlying sulfide systems.
- Strategic Partnerships – Exploring joint ventures or asset acquisitions that could provide the technical expertise and capital necessary to advance the Tombstone Project to an early development stage.
The company’s continued drilling and data release schedule will be closely monitored by investors and analysts seeking to gauge the pace at which Tombstone may transition from an exploration target to a production‑ready asset.
