Aztec Minerals Increases Tombstone Drilling Program by 3,500 Meters
Rhea-AI Summary
Aztec Minerals (TSXV:AZT, OTCQB:AZZTF) expanded its Tombstone Property joint venture drill program by an additional 3,500m of RC drilling, bringing the planned total to about 22,200m (18,829m RC and 3,371m core). The extra work, budgeted at CAD$1.4 million, will target shallow oxide gold-silver mineralization in the Northern Contention Area.
To date, the program has completed 14,162.5m of RC and 3,371.1m of core drilling. Aztec, which holds an 85% interest in the Tombstone joint venture, also signed a 12‑month investor relations agreement with Redwood Empire Financial Communications for US$7,500 per month plus 300,000 stock options, subject to TSX Venture Exchange approval.
AI-generated analysis. Not financial advice.
Positive
- Drill program expanded by 3,500m to about 22,200m total
- Additional CAD$1.4 million budget approved for Tombstone drilling
- 14,162.5m RC and 3,371.1m core completed to date
- Northern Contention Area targets shallow oxide gold-silver mineralization
- Aztec holds 85% interest in Tombstone Property joint venture
- New investor relations agreement to enhance market communications
Negative
- 300,000 stock options to consultant may create future dilution
- Additional CAD$1.4 million spend increases exploration expenditures
- Investor relations agreement remains subject to TSX Venture approval
News Market Reaction – AZZTF
On the day this news was published, AZZTF gained 0.53%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
VANCOUVER, BC / ACCESS Newswire / May 28, 2026 / Aztec Minerals Corp. (AZT:TSXV)(OTCQB:AZZTF) ("Aztec" or the "Company") announces that the Tombstone Property Joint Venture Management Committee met recently and approved a further expansion of the ongoing drill program by 3,500m of additional reverse circulation ("RC") drilling. The expanded drilling program which commenced in June 2025 is now expected to total approximately 22,200m of combined core and RC drilling (18,829m RC and 3,371m core). The additional approved drilling budget totals CAD
Drilling Program Update: The ongoing program has currently completed 14,162.5 m of RC drilling over 68 drill holes and 3,371.1 m of Core drilling over 9 drill holes. There are currently 14 RC drill holes shipped to the laboratory awaiting results and 3 Core drill holes are either awaiting core cutting or shipment to the laboratory prior to results. The new Northern Contention Area drill program is expected to continue through August 2026 with results expected into the 4th quarter of 2026.
Investor Relations Contract: Aztec also announces it has contracted Redwood Empire Financial Communications, operated by Michael Bayes, of Alpharetta, GA to provide corporate communications services to the company. The Consultant will assist the company in developing and implementing investor communications and financial public relations with existing and prospective shareholders, brokers, dealers and other investment professionals. Certain of the services to be provided by the Consultant under the Agreement constitute Investor Relations Activities within the meaning of the policies of the TSX Venture Exchange. Under the Agreement, the Consultant will receive a monthly consulting fee of US
To the Company's knowledge, as of the date hereof, The Consultant does not own any securities of the Company and is arm's length to the Company. The Agreement is subject to approval by the TSX Venture Exchange.
Aztec Minerals will be participating in the following upcoming events and conferences:
June 1-4: The Mining Investment Event, Quebec City QC
Conference information: THE Mining Investment Event
September 22-25: 2026 Precious Metals Summit Beaver Creek, Beaver Creek CO
Conference information: 2026 Precious Metals Summit Beaver Creek | Precious Metals Summit Conferences
Tombstone Project Overview
Aztec Minerals holds a
The main target of the current drilling is to continue testing the shallow, bulk tonnage, potentially heap leachable, mesothermal gold-silver oxide mineralization adjacent and below the previously mined Contention pit by step-out drilling. Future drilling is expected to focus on follow-up on the current program's results. It is anticipated that possible targeting could include strike and dip extensions of the shallow oxide mineralization, and move along those trends deeper into the sulfide zone as historically there was significant production to 300 m depth*2.
The Tombstone project is located 100 kilometers (km) southeast of Tucson, Arizona and covers much of the historic Tombstone silver district. Tombstone is renowned for its high grade, oxidized, silver-gold mesothermal stringer lode veins, hydrothermal breccias and manto CRD orebodies that were mined in the late 1800's and early 1900's. The historic silver production in the Tombstone district from 1878 to 1939 was estimated at 32 million ounces and 250,000 ounces of gold*2.
The district geology consists of a mix of shallow-level, oxidized Au-Ag and base metal deposits related to CRD and skarns hosted in folded and thrusted sediments, intrusive dikes, and lode veins, and as well the under explored, sulfide versions located below the water table.
Host rocks to the mineralization are primarily the clastic sediments of the lowest portion of the Cretaceous Bisbee Formation. Between 50 and 300 meters (m) in depth, the Bisbee is underlain by approximately two kms thick of the same Paleozoic carbonate formations that host the Hermosa-Taylor zinc-lead-silver deposit of South32 located 60 km southwest of Tombstone.
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.
Summary Tombstone Project Highlights
Well located property on patented (46) and unpatented (73) claims (833 hectares / 2058 acres), covers much of the historic Tombstone silver mining district, great infrastructure, local town, road access, full services, water, power
Historic silver district*2 produced 32 million ounces of silver and 250,000 ounces of gold from 1878-1939, in high grade, oxidized, silver-gold-lead-zinc-copper vein, breccia and CRD deposits, and small open pit heap leach production in late 1980's
Drilling by Aztec in 2020-25 has demonstrated that the Contention Pit target has significant, shallow, oxidized Au-Ag bulk tonnage mineralization which is open in all directions
Multiple other prospective targets in Cretaceous and Paleozoic rocks related to major NW and NNE trending structures hosting porphyritic intrusions crosscutting a possible caldera ring structure
* Aztec has not verified these historic results and is not relying on them. Aztec has in its possession the historic drill logs, maps and reports but does not have any information on the quality assurance or quality control measures taken in connection with these historical exploration results.
Noted References:
1 - "Zonge International, AMT Survey, Tombstone Project, Cochise County, AZ, Data Acquisition and Processing Report, Prepared for Aztec Minerals, 18 May 2020, Zonge Job #20013"
2 - Greeley, Michael N., A Brief History and Review of Ore Grades and Production in the Tombstone Mining District with Emphasis on the Contention Mine Area, June 1984
The scientific and technical information contained in this news release has been reviewed and approved by Allen David Heyl, B.Sc., CPG - AIPG No.11277, VP Exploration of Aztec, a Qualified Person under NI43-101. Mr. Heyl supervises the Tombstone exploration programs. Mr. Heyl has verified the data, which included a review of the sampling, analytical and test methods underlying the data, information and opinions disclosed herein.
On behalf of the Board,
"Simon Dyakowski"
Simon Dyakowski, Chief Executive Officer
Aztec Minerals Corp.
About Aztec Minerals - Aztec is a mineral exploration company focused on two emerging discoveries in North America. The Cervantes project is an emerging porphyry gold-copper discovery in Sonora, Mexico. The Tombstone project is an emerging gold-silver discovery with high grade CRD silver-lead-zinc potential in southern Arizona. Aztec's shares trade on the TSX-V stock exchange (symbol AZT) and on the OTCQB (symbol AZZTF).
Contact Information - For more information, please contact:
Simon Dyakowski, President & CEO, Director
Tel: (604) 685-9770
Fax: (604) 685-9744
Email: info@aztecminerals.com
Website: www.aztecminerals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Forward-Looking Information:
This news release contains "forward‐looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, the expected services to be provided by the Consultant under the Agreement and outcomes therefrom, other statements relating to the technical, financial and business prospects of the Company, its projects, its goals and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses, and those filed under the Company's profile on SEDAR+ at www.sedarplus.ca. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to obtain or maintain community acceptance (including First Nations), decrease in the price of gold, silver and other metals, increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
SOURCE: Aztec Minerals Corp.
View the original press release on ACCESS Newswire