Aztec Minerals Extends Tombstone North Zone Strike by 255 Meters to 1,250 Meters

Aztec Minerals (TSX-V: AZT; OTCQB: AZZTF) has tacked another 255 meters of strike onto the North Extension target at its Tombstone project, taking the continuously mineralized zone to over 1,250 meters, according to President and CEO Simon Dajkowski on The KE Report.

The latest batch covers five holes, four of them step-outs, from the North Extension, which sits north of the Contention Main Zone. The headline hole, TRR-41, returned 83.8 meters averaging 1.13 grams per tonne gold equivalent (AuEq), with the broader discussion citing it as over 83 meters of 1.31 g/t AuEq; the hole also includes a higher-grade core of 7.6 meters above 8 g/t AuEq. Hole 41 was drilled roughly 100 meters north of TRR-39, the prior standout in the area, while TRR-40 sat 30 to 40 meters south of 41, and TRR-42 tested the target to the northeast. In aggregate, Dajkowski says the package has added about 250 meters of continuous mineralization to the strike of the potential deposit, with the drill pattern now "veering east" as the team traces the zone.

Dajkowski frames the North Extension as part of the same structure that hosts the Contention Main Zone, noting that widths and grades look similar to the better parts of Contention. "We're looking at sort of 60, 80, 100-meter widths of around gram equivalent across some of the better results in the north now and the central," he says. The mineralization also appears to bend, a geometry he describes as a "sigmoidal loop" that turns east, which explains why recent drill fences drift off in that direction. There are parallel structures east and west of the main zone, and the western holes in the current program are intended to test whether those continue northward as well.

The North Extension itself is young: the company only acquired the northern claims a few months ago and quickly moved the rig in. Dajkowski says drilling will continue through September and into October, with the team's focus on expanding the North Extension footprint north, west, and east. Roughly 2,000 meters of drilling are already at the lab; the company is on hole 57 and has 10 to 12 holes awaiting assays, with another "couple thousand meters" expected on top of that over the next two months. He adds that infill drilling is not a near-term priority. The goal right now is to bound the extent of mineralization rather than firm up the middle. South of the North Extension, the Contention Main Zone is described as "a little skinny on drilling," so additional step-outs may follow there as well.

Beyond Contention, Dajkowski flags two high-grade silver mines further southwest in the Tombstone Silver District that the company recently picked up and is working into the target pipeline.

### The new money

To fund that work plus studies, Aztec announced and then upsized a bought-deal financing to C$5.6 million led by Stifel. Pricing came at C$0.32 per share, off a roughly C$70 million market cap, about double the level of last year's raise at C$0.235, which Dajkowski cites as evidence of project support and momentum. Use of proceeds is split between additional drilling and "additional study," and is sized to carry the company through to a PEA (Preliminary Economic Assessment, an early-stage mining study that estimates costs, recoveries, and project economics) targeted for next year. He emphasizes the company did not want to enter a resource and PEA underfunded, but also chose not to over-dilute.

Before the financing, Aztec had about C$3.5 million in the bank. Adding the C$5.6 million raise, plus roughly C$0.5 million from 1.4 million warrants expiring September 25 at C$0.30, brings the working-capital figure to "closer to 10" million Canadian dollars. The CEO also flags a further ~1.1 million warrants expiring in February. A separate tranche of two million warrants that expired a couple of weeks ago saw about 1.5 million exercised at C$0.30, with the remaining 500,000 lapsing.

### Forward calendar

Dajkowski lays out a packed near-term news flow:

- Drill results: continuous through fall into the Christmas window, with drilling potentially continuing through year-end. - Maiden mineral resource estimate (MRE): the database is locked with consultants, with a mid-October target for delivery in Q4. A maiden resource is the first formal estimate of the size and grade of the mineralized body. - PEA: a firm will be engaged after the resource is out, with the study itself expected in 2027.

The interview is a CEO update, so most claims about grade, geometry, treasury, and timing are his statements rather than independent verification. What is clear from the video is that Aztec is using the bought-deal raise to push the North Extension footprint further, deliver a maiden resource by mid-October, and tee up a PEA in 2027, a sequence that, if results continue to track, will set up multiple price-sensitive catalysts over the next nine to twelve months.