Aztec Expands North Extension Zone with New Drilling, Multiple Holes Return Mineralization

Source: Streetwise Reports 08/06/2026

Aztec Minerals Corp. (AZT:TSX.V; AZZTF:OTCQB) expanded gold-silver mineralization at the North Extension Zone at Tombstone, with hole TR26-39 returning 88.4m at 1.42 g/t Au.

Aztec Minerals Corp.’s (AZT:TSX.V; AZZTF:OTCQB) latest batch of RC drill hole assay results have generated gold and silver investor interest.

Key Takeaways

• Aztec Minerals expanded gold-silver mineralization into the newly acquired North Extension Zone at its Tombstone Project in Arizona with its first step-out drilling.
• Drill hole TR26-39 returned 88.4 meters grading 1.42 g/t gold and 14.58 g/t silver (1.69 g/t gold equivalent), while TR26-38 intersected 97.5 meters grading 1.06 g/t gold and 16.08 g/t silver from surface.
• The results support a larger near-surface oxide gold-silver system that remains open to the north, at depth, and in other directions, with mineralization considered potentially suitable for heap leaching.
• Aztec has now completed 90 reverse circulation drill holes in its 2025-2026 program, with assays still pending for 11 additional step-out holes testing the project’s northern extension.
• The upcoming drill results are expected to support Aztec’s maiden mineral resource estimate for the Tombstone Project while drilling continues through at least September 2026.

Nine Holes Expand Contention Zone

On August 5, 2026, Aztec announced results from nine reverse-circulation (RC) drill holes at its Tombstone gold-silver project in southeastern Arizona, including the first step-out drilling into its recently acquired North Extension Zone. The new drilling expanded the Contention oxide gold-silver mineralized zone to the north and at depth, with mineralization remaining open in all directions.

According to the press release, results include:

• Hole TR26-39, a first pass hole in the North Extension Area, intersected 88.4 m (meters) averaging 1.42 g/t Au (gold) and 14.58 g/t Ag (silver) (1.69 g/t AuEq (gold equivalent)) from 10.7 m, including 6.1 m averaging 1.55 g/t Au and 4.53 g/t Ag (1.63 g/t AuEq) from 27.4 m and 12.2 m averaging 6.38 g/t Au and 33.93 g/t Ag (7.00 g/t AuEq) from 64.0 m, which includes 6.1 m averaging 12.23 g/t Au and 56.28 g/t Ag (13.25 g/t AuEq) from 65.5 m. The hole ended in mineralization, with 30.5 m averaging 0.18 g/t Au and 5.63 g/t Ag (0.28 g/t AuEq) from 146.3 m to the end of the hole, including 4.6 m averaging 0.56 g/t Au and 11.97 g/t Ag (0.78 g/t AuEq) from 169.2 m.
• Hole TR26-38 intersected 97.5 m averaging 1.06 g/t Au and 16.08 g/t Ag (1.36 g/t AuEq) from surface, including 18.3 m averaging 4.60 g/t Au and 52.49 g/t Ag (5.55 g/t AuEq) from 68.6 m, which includes 6.1 m averaging 12.17 g/t Au and 69.08 g/t Ag (13.43 g/t AuEq) from 79.2 m. A second zone beginning 7.7 m below returned 106.7 m, averaging 0.10 g/t Au and 4.16 g/t Ag (0.17 g/t AuEq) from 105.2 m, giving near-continuous mineralization from surface to 211.8 m.
• Hole TR26-33, a first pass hole into the North Extension Area, intersected 13.7 m averaging 1.50 g/t Au and 23.56 g/t Ag (1.93 g/t AuEq) from 85.3 m, including 7.6 m averaging 2.64 g/t Au and 40.72 g/t Ag (3.38 g/t AuEq) from 88.4 m. The interval includes a historic working from 94.5 to 97.5 m. Four shallower zones were intersected starting at surface (see Table 1A).
• Hole TR26-31 intersected 21.3 m, averaging 1.07 g/t Au and 28.42 g/t Ag (1.59 g/t AuEq) from 82.3 m, within a broader zone of 64.0 m, averaging 0.42 g/t Au and 13.54 g/t Ag (0.67 g/t AuEq) from 65.5 m. An upper zone returned 10.7 m, averaging 0.39 g/t Au and 2.73 g/t Ag (0.44 g/t AuEq) from 21.3 m, and three deeper zones were intersected between 141.7 m and 185.9 m (see Table 1A).
• Hole TR26-37 intersected 79.2 m averaging 0.26 g/t Au and 8.88 g/t Ag (0.42 g/t AuEq) from 45.7 m, including 3.0 m averaging 0.86 g/t Au and 22.70 g/t Ag (1.27 g/t AuEq) from 85.3 m and 6.1 m averaging 0.59 g/t Au and 15.58 g/t Ag (0.88 g/t AuEq) from 100.6 m. An upper zone returned 6.1 m, averaging 0.13 g/t Au and 3.43 g/t Ag (0.19 g/t AuEq) from 16.8 m. Four additional zones were intersected between 131.1 m and 205.7 m (see Table 1A).

• Holes TR26-34, TR26-35 and TR26-36, all drilled in the Westside Exploration Area, each intersected multiple mineralized zones, the strongest being 25.9 m averaging 0.19 g/t Au and 11.95 g/t Ag (0.41 g/t AuEq) from 44.2 m in TR26-34, including 9.1 m averaging 0.49 g/t Au and 20.05 g/t Ag (0.85 g/t AuEq); 22.9 m averaging 0.12 g/t Au and 10.61 g/t Ag (0.31 g/t AuEq) from 83.8 m in TR26-35; and 32.0 m averaging 0.13 g/t Au and 12.50 g/t Ag (0.36 g/t AuEq) from 91.4 m in TR26-36, including 4.6 m averaging 0.55 g/t Au and 26.37 g/t Ag (1.03 g/t AuEq). These drill holes demonstrate the continued resource potential of the Westside Exploration Area (see Figure 1 and Table 1A).

• Hole TR26-32, drilled in the Ingersol anticline area approximately 800 m west of the Contention pit, returned no results with values of interest.

Aztec CEO Simon Dyakowski commented in the release: “The story in these holes is continuity. We are seeing thick oxide intervals starting at or near surface across the Contention area, and now we are seeing them in the North Extension on a first pass through ground we had not drilled before. That tells us the system is larger than the footprint we have defined to date. It remains open in all directions, including to the north and at depth, and with 90 RC holes completed and assays still pending, we expect to keep adding to it through the balance of the program.”

An exploration company focused on silver-gold projects in Sonora, Mexico, and Arizona, U.S., Aztec holds an 85% interest in the Tombstone property within the historic Tombstone silver district. The Tombstone project is a joint venture, and Aztec owns 85% interest in the project.

Gold, Silver Both Rise as Middle East Tensions Cool

Junior miners and exploration companies hit the ground running this year after gold rallied at a high of US$5,500 per ounce in January. Many companies chose to begin exploration or production amid these highs. While prices have since fallen, and even dipped below US$4,000 in June, rates are still up 24% compared to July 2025, and Gold.org wrote that: “[T]he stage is set for a possible breakout. On the upside, clear catalysts — a worsening economy or renewed geopolitical shock, a shift towards lower interest-rate expectations, or a wave of dip buying — could reignite gold’s momentum and lift it back towards US$4,500/oz or above.”

On August 5, 2026, Trading Economics reported that “. . . Gold extended its gains to around US$4,200 an ounce on Wednesday, reaching its highest level since June 18, as easing geopolitical tensions and softer US labor market data reinforced expectations of a less aggressive Federal Reserve . . . The prospect of restored Middle Eastern energy supplies has pushed oil prices down about 10% this week, easing inflation concerns and reducing expectations for further Fed tightening.”

This news has affected silver, as well, with the metal up 2.84% over yesterday and trading at US$62.25 per ounce as of August 5, 2026. Higher demand from electric cars, solar panels, data centers, and more is shoring up silver’s future demand. Yahoo Finance quoted experts from both BlackRock and J.P. Morgan as saying, “By the end of 2026, experts predict silver’s price will surpass US$80 per ounce, and it could reach US$100 per ounce by 2030.”

Despite the recent volatility of gold and silver, the sector as a whole is only showing signs of improvement. On May 7, 2026, Brian Taylor of Recycling Today said that the World Bank Group has predicted that overall global metals prices will rise by 17% in 2026, which would mark the first overall market increase since 2022.

Atrium Reiterates “Buy”, CA$0.45 Target

Ben Pirie of Atrium Research reiterated a “Buy” rating and CA$0.45 price target for Aztec on August 5, 2026, after the company’s latest RC drill hole results. Pirie wrote: “The batch of assays reported in today’s release are notable as the first two step-out holes drilled into the recently acquired North Extension Zone hit similar mineralization to the consistently strong mineralization we’ve seen throughout the Contention area. The two holes intersected thick oxide intervals starting essentially at surface and will grow the mineralized footprint materially. We look forward to the pending assays for other holes in this area. Further to the results in the North Extension Zone, the other holes reported also hit good mineralization, which will continue to stack ounces for the upcoming mineral resource estimate.”

Looking to the future, Pirie told investors: ” We remind readers of the Company’s intention to publish inaugural mineral resource estimates on both the Tombstone and Cervantes projects. We anticipate that the cutoff for drill results to be included in the Tombstone MRE will be soon, but AZT stated that today’s results, as well as those pending from holes TR26-40 to TR26-50, will be included.”

Drilling Continues Through September 2026

The new Northern Contention area drill program is expected to continue through September 2026, with results expected in Q4 2026.

The company stated, “Aztec believes that the historic silver mines at Tombstone could be related to a much larger mesothermal system with CRD mineralization below the old mines. Since 2017, Aztec has completed geological mapping, geochemical sampling, and geophysical surveying to identify the most prospective areas for Au-Ag mineralization around and below the Contention open pit, and CRD zinc-lead-copper-silver-gold mineralization below the entire district. Aztec management views the district as highly prospective for the discovery of mesothermal and CRD mineralization.”

In Q2 2026, Aztec will begin planning for a 2026 exploration program for its Cervantes project in Mexico, according to the company’s investor presentation.

In an exclusive conversation with Streetwise Reports, Dyakowski commented on the company’s next steps, saying: “Our expanded drill program continues to demonstrate significant growth of the near-surface oxide gold-silver mineralized zone at Tombstone. We are now aggressively testing the North End area target. Drilling in the Contention zone continues to demonstrate consistently strong oxide gold and silver grades at shallow depths. The most recent drilling of the 21,000-meter 2025-2026 program has been successful in significantly expanding the Contention oxide mineralization vertically to depth as well as identifying new targets at Hard Up and Independence, immediately to the west, and at East Grand Central within the property.”

Dyakowski noted that Tombstone’s drill results will be added to the project’s MRE (mineral resource estimate) and that the drilling program is fully funded. [OWNERSHIP_CHART-9156]

Ownership & Share Information¹

Aztec Minerals Corp. has a market cap of CA$49.18 million, with 188.88 million shares outstanding. The company’s 52-week range is CA$0.17-CA$0.44. Institutions own 11.26% of shares, while Management & Insiders own 3.56%. The remaining 85.18% of shares are held by Retail.

Frequently Asked Questions

Q: What is a reverse circulation (RC) drill hole?
Reverse circulation (RC) drilling is a common mineral exploration method that uses compressed air to bring crushed rock samples to the surface. It is generally faster and less expensive than diamond drilling and is widely used to define the size and continuity of near-surface mineral deposits.

A: What is a mineral resource estimate (MRE)?
A mineral resource estimate (MRE) is a scientific calculation of the amount and grade of a mineral deposit based on drilling, sampling, and geological analysis. It helps investors and mining companies evaluate a project’s potential, but does not guarantee the deposit can be mined economically.

Q: What does gold equivalent (AuEq) mean?
A: Gold equivalent (AuEq) combines the value of gold with other metals, such as silver, into a single gold-grade figure using assumed metal prices and recovery rates. It provides an easier way to compare drill results from deposits containing multiple valuable metals.

Q: What is heap leaching?
A: Heap leaching is a mining process used to recover metals from ore by stacking crushed rock on lined pads and applying a chemical solution that dissolves the valuable minerals. The process is commonly used for near-surface oxide gold deposits because it can be less expensive than conventional milling.

Q: What does it mean when mineralization is “open”?
A: When a company says mineralization remains “open,” it means drilling has not yet identified the limits of the deposit in one or more directions. Additional drilling may expand the known size of the mineralized system, although no expansion is guaranteed.

Sign up for our FREE newsletter at: www.streetwisereports.com/get-news

Important Disclosures:

1. Aztec Minerals Corp. is a billboard sponsor of Streetwise Reports. The company pays a monthly sponsorship fee of US$3,000–US$6,000 for banner advertising and an enhanced company profile page. Streetwise Reports’ editorial content is fully independent and is not influenced by sponsorship.
2. As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Aztec Minerals Corp.
3. Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
4. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

( Companies Mentioned: AZT:TSX.V; AZZTF:OTCQB, )

Source: https://www.streetwisereports.com/article/2026/08/06/aztec-expands-north-extension-zone-with-new-drilling-multiple-holes-return-mineralization.html