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Aztec Minerals - Drill Results At Tombstone Expand Gold-Silver Mineralization To Over 1KM

The KE Report Jan 28, 2026

Summary

Aztec's Tombstone drill results now tie the North Pit and Southern Extension into a single 1+ kilometer mineralized system.

Mineralization shifts from gold-dominant in the north to silver-dominant in the south, suggesting Tombstone's silver district roots.

CEO Simon Dyakowski says the 12,000-meter drill program plus a deep conductor test (hole TC2504) will run through end of March.

The team is using 3D modeling to target historic high-grade stopes on the west side and grow east-west width.

Past pre-stripping from the 70s and 80s mining may give Aztec a low strip ratio - less waste rock to move per tonne of ore.

Cory Fleck's takeaways

  • Top takeaway Frames the headline — strike extending past 1 kilometer in the southern extension — as the central takeaway and presses the CEO on whether the property should now be treated as one continuous mineralized system rather than separate zones.
  • Highlights the gold-to-silver tenor change across the property, asking whether silver-dominant intersections like Hole 2416 (1.5m at 3,700 g/t Ag) could reframe Tombstone back toward its historic silver-district identity.
  • Pursues consistency and high-grade questions, probing for any high-grade zones within the >1km trend while the CEO describes pinch-and-swell behavior along the QFP dikes.
  • Pushes on western step-outs and the resource ambition, asking whether the current drilling is aimed at building a resource over the full 1km strike and how the steep topography is being handled with rig access.
  • Closes by noting that most of the program is still expansion drilling following the 2024 discovery in the southern extension, with roughly 15 holes at the assay lab and results expected over the next few weeks.

Simon Dyakowski's takeaways

  • Top takeaway Argues the project is best understood as one north-south system with strike now over 1 kilometer, rather than separate 'contention,' 'main pit,' and 'southern extension' zones — and that the southern extension discovery made in 2024 has effectively linked them.
  • Frames the economic shift from gold-dominant to silver-dominant as drilling moves south and west, citing Hole 2417 (57.8m at 5.15 g/t Au + ~40 g/t Ag) versus Hole 2416 (1.5m at 3,700 g/t Ag + 45 g/t Au) and noting silver at roughly US$100–110/oz now drives dollar value at the southern end.
  • Highlights the potential for a low strip ratio given the shallow component of mineralization, prior pre-stripping by 1970s–80s operators, and about six north-south QFP dikes that could broaden the footprint laterally beyond the current pit.
  • Describes the western side as an anticline target where historic high-grade silver stopes from the 1800s coincide with a roughly 50-year-old mine plan contemplating a 500m pit-wall pushback — the focus of the next round of east-west step-out drilling.
  • Flags deep hole TC2504 (~7,800m / 2,600 ft) east of the pit testing the NSAMT conductor target identified in 2020, with visible mineralization at the top of the hole near historic heap-leach infrastructure and assays pending; a 10-day drilling break precedes additional western step-outs.