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.

The guest says the company extended strike length at Tombstone by ~255 m to ~1,250 m via north-extension step-outs; the headline hole was 83.8 m at 1.13 g/t AuEq, including a higher-grade 7.6 m section at over 8 g/t AuEq.
Upsized a bought-deal financing to C$5.6M led by Stifel at C$0.32/share (vs. C$0.235 last year); the guest says proceeds will fund additional drilling and studies through to a 2027 PEA.
The database is locked for the maiden MRE, which the guest targets for mid-October 2026, with engagement of a PEA firm to follow.
About 10-12 holes (~2,000 m) are in the lab awaiting assays; the guest says drilling will continue through September and October focused on the north, with possible year-round drilling.
The company recently picked up additional high-grade silver mines to the southwest of the Tombstone Silver District, separate from Contention, which the guest flags as future drill targets.

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.