Aztec Minerals: High-Grade North Extension Drill Results, Extends Strike Length To Over 1,250 Meters
The KE Report Sep 4, 2026 12:11
Summary
Tombstone's North Extension step-outs added 255 meters of strike to a now 1,250-meter trend, including 83.8 meters of 1.31 g/t gold equivalent.
Drilling over the next two months will test parallel structures to the west and northeast, with roughly 2,000 meters of core still awaiting assays.
A $5.6 million bought-deal financing plus $0.30 warrants expiring September 25 lift cash on hand to roughly $10 million.
A maiden mineral resource estimate targets mid-October, with a Preliminary Economic Assessment (early-stage economic study) slated for 2027.
Simon Dyakowski's takeaways
- Top takeaway The guest argues the north extension is the same mineralized structure continuing north, with strategy focused on expanding the zone in all directions rather than infilling — and points to a sigmoidal bend that explains why drill holes veer east.
- Defends the timing and pricing of the recent financing — anchored off a C$70M market cap at C$0.32, roughly double last year's C$0.235 — as a way to fund drilling, the mid-October maiden MRE, and a 2027 PEA without over-diluting.
- Frames the coming news flow as drill results through year-end, a maiden MRE in mid-October, and a 2027 PEA — calling the sequence a mix of exploration and study milestones aimed at unlocking value on Tombstone.
- Says treasury was roughly C$3.5M pre-financing and combined with the new raise plus Sept. 25 warrant exercises (~C$500K) brings pro-forma cash to about C$10M.
- Plays down the market reaction to the financing — saying the stock was only off ~C$0.01 from C$0.355 pre-announcement — as evidence that investors are comfortable with the terms.