Precious metals investors looking to get in on undervalued stocks are missing out on this company, according to Bob Moriarty of 321Gold.com. Aztec Minerals Corp. (AZT:TSX.V; AZZTF:OTCQB) announced results from 11 reverse-circulation (RC) drill holes and its first core assay results at the Tombstone gold-silver project in southeastern Arizona. On July 15, 2026, Aztec reported that step-out and first-pass drilling continued to expand the oxide gold-silver zone at the Contention target, extending mineralization west, southwest, south, and to significant new depth.
According to the press release, results include:
- Hole TR26-30 intersected 198.1 meters, averaging 0.86 g/t Au (gold) and 24.52 g/t Ag (silver) (1.30 g/t AuEq (gold equivalent)), including 155.4 meters, averaging 1.08 g/t Au and 30.23 g/t Ag (1.63 g/t AuEq).
- Within that intercept, a higher-grade zone returned 44.2 meters averaging 1.50 g/t Au and 60.51 g/t Ag (2.60 g/t AuEq), including 6.1 meters averaging 9.54 g/t Au and 35.03 g/t Ag (10.18 g/t AuEq).
- The hole extended oxidized mineralization vertically to depth by 85 meters in this part of the Contention zone, more than doubling the previously demonstrated depth.
- Holes TR26-20 and TR26-21 at the Independence Mine target stepped out roughly 300 meters west of previously reported drilling, returning intervals up to 21.3 meters at 0.24 g/t AuEq and 18.3 meters at 0.39 g/t AuEq.
- Hole TR26-28, drilled near the Grand Central pit, returned 19.8 meters averaging 0.57 g/t AuEq, including 10.7 meters averaging 0.95 g/t AuEq.
- First assay results from the core drilling program included 32.0 meters averaging 0.26 g/t AuEq at the southern target, and CRD-style mineralization at the historic T-8 target horizon.
The program is designed to expand the known mineralization horizontally and at depth beyond previous drilling, test deep CRD targets by core drilling, and evaluate new first-pass targets in the Westside area.
“Our expanded drill program continues to demonstrate significant growth of the near-surface oxide gold-silver mineralized zone at Tombstone,” said Simon Dyakowski, CEO of Aztec Minerals. “We are now aggressively testing the North End area target. Drilling in the Contention zone continues to demonstrate consistently strong oxide gold and silver grades at shallow depths.”
Dyakowski continued: “The most recent drilling of the 21,000-meter 2025-2026 program has been successful in significantly expanding the Contention oxide mineralization vertically to depth as well as identifying new targets at Hard Up and Independence, immediately to the west, and at East Grand Central within the property.”
To date, the 2025-26 program has completed 84 RC drill holes at Tombstone, with additional core assay results still pending. Aztec holds an 85% interest in the Tombstone Property Joint Venture, located roughly 100 kilometers southeast of Tucson, Arizona, within the historic Tombstone silver district.
Aztec Minerals Corp. is an exploration company focused on silver-gold projects in Sonora, Mexico, and Arizona, U.S. The Tombstone Project is located in Southeastern Arizona, and Aztec holds an 85% interest in the joint venture.
Key Takeaways
- Aztec’s best new hole (TR26-30) hit 155.4 m of 1.08 gpt gold and 30.23 gpt silver — a strong result from surface.
- That same hole showed mineralization extends much deeper than before, doubling the known depth of the Contention zone.
- New holes stepped out up to 300 m west and south, expanding the mineralized footprint at Independence, Hard Up, and Grand Central.
- The company released its first core assay results, including gold-silver-lead zone hits at the historic T-8 target.
- These results come from 84 holes drilled so far in a 21,000-meter program; more assays are still pending.
Gold & Silver Demand Climbs as Gold Tests US$4,067/oz Resistance
Junior miners and exploration companies hit the ground running this year after gold rallied at a high of US$5,500 per ounce in January. Many companies, like Aztec, chose to begin exploration or production amid these highs. While prices have since fallen, and even dipped below US$4,000 in June, rates are still up 24% compared to July 2025, and Gold.org wrote that: “[T]he stage is set for a possible breakout. On the upside, clear catalysts — a worsening economy or renewed geopolitical shock, a shift towards lower interest-rate expectations, or a wave of dip buying — could reignite gold’s momentum and lift it back towards US$4,500/oz or above.”
Despite a slight rise in gold prices at the end of last week due to positive U.S. home sale data, rates have dipped again due to the ongoing U.S.-Iran War. Inflationary fears were reignited after Brent crude oil prices rose again after a several-week ceasefire between the two countries lost its stability. According to a July 13, 2026, report by Kitco Newswire, “The Strait of Hormuz situation is best characterized as open transit under active military contest, not a stable shipping environment and not a fully verified closure.” As of the time of writing on July 15, 2026, gold prices were testing resistance at US$4,066.90 per ounce.
In April, S&P Global wrote, “Gold is expected to remain volatile but structurally supported, with central bank demand and geopolitical risk helping to establish a price floor above recent correction lows.”
Higher demand from electric cars, solar panels, data centers, and more is shoring up silver’s future demand. Yahoo Finance quoted experts from both BlackRock and J.P. Morgan as saying, “By the end of 2026, experts predict silver’s price will surpass US$80 per ounce, and it could reach US$100 per ounce by 2030.”
Despite the volatility of gold, the sector as a whole is only showing signs of improvement. On May 7, 2026, Brian Taylor of Recycling Today said that the World Bank Group has predicted that overall global metals prices will rise by 17% in 2026, which would mark the first overall market increase since 2022.
Atrium Reiterates “Buy Rating”, While Moriarty Calls It “Best Hole Ever”
On July 15, 2026, after the results were released, Bob Moriarty of 321Gold.com discussed the company, writing: “Aztec Minerals just released the best hole ever drilled at their Tombstone gold and silver project showing over 250 grams per meter of AuEq from surface. The market still doesn’t understand how significant the project is, but one day they might.”
Ben Pirie of Atrium Research also weighed in on July 15, reiterating its “Buy” rating and CA$0.45 price target. Pirie wrote: “Today’s batch of drill results impresses us as several holes intersected high-grade mineralization over wide widths. Most notably, hole TR26-30 extended the oxide mineralization ~85m deeper vertically than previously drilled. This tells us that mineralization is still open at depth and could have a material impact on the size potential of the oxide deposit. Beyond the depth extensions, today’s results also expand the Contention Zone along strike. More results are expected to be reported as we lead into the MRE’s (Mineral Resource Estimate) planned to be published late in Q3. We also look forward to the metallurgical results with this work currently ongoing.”
84 Holes Drilled So Far, More Assays Pending
The new Northern Contention area drill program is expected to continue through August 2026, with results expected in Q4 2026.
The company stated, “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.”
In Q2 2026, Aztec will begin planning for a 2026 exploration program for its Cervantes project in Mexico, according to the company’s investor presentation.
In an exclusive conversation with Streetwise Reports, Dyakowski commented on the company’s next steps, saying: “Our expanded drill program continues to demonstrate significant growth of the near-surface oxide gold-silver mineralized zone at Tombstone. We are now aggressively testing the North End area target. Drilling in the Contention zone continues to demonstrate consistently strong oxide gold and silver grades at shallow depths. The most recent drilling of the 21,000-meter 2025-2026 program has been successful in significantly expanding the Contention oxide mineralization vertically to depth as well as identifying new targets at Hard Up and Independence, immediately to the west, and at East Grand Central within the property.”
Dyakowski noted that Tombstone’s drill results will be added to the project’s MRE and that the drilling program is fully funded.
Aztec Minerals Corp. (AZT:TSX.V; AZZTF:OTCQB)
| Strike Price | Number | Expiry Date |
|---|---|---|
| $0.25 | 7,153,085 | 07/26/26 |
| $0.18 | 474,286 | 07/26/26 |
| $0.3 | 2,025,725 | 08/29/26 |
| $0.3 | 56,520 | 08/29/26 |
| $0.3 | 1,420,195 | 09/25/26 |
| $0.22 | 5,183,333 | 02/16/27 |
| $0.18 | 849,031 | 05/13/28 |
| $0.24 | 9,909,400 | 05/13/28 |
| $0.24 | 2,980,110 | 10/16/28 |
No Restructures for This Company
*Share Structure & Warrant Information as of 7/2/2026
Ownership & Share Information1
Aztec Minerals Corp. has a market cap of CA$40.61 million, with 188.88 million shares outstanding. The company’s 52-week range is CA$0.17-CA$0.44. Institutions own 11.26% of shares, while Management & Insiders own 3.56%. The remaining 85.18% of shares are held by Retail.
Frequently Asked Questions
Q: What is a “step-out drill hole”?
A: A step-out drill hole is drilled a set distance away from previous holes to see if the mineralized zone extends farther than already known. Successful step-out drilling can increase the potential size of a deposit.
Q: What does “g/t” (grams per tonne) mean?
A: Grams per tonne (g/t) measures how much metal is contained in one metric tonne of rock. For example, 1.0 g/t gold means there is about one gram of gold in every tonne of rock mined.
Q: What is “gold equivalent” (AuEq)?
A: Gold equivalent (AuEq) combines the value of gold with other metals, such as silver, into a single grade based on current metal prices. This gives investors an easier way to compare drill results that contain multiple valuable metals.
Q: What is an oxide gold-silver deposit?
A: An oxide deposit contains minerals that have been naturally weathered near the Earth’s surface. Oxide ore is often easier and less expensive to process than deeper, unweathered sulfide ore, making it attractive to mining companies.
Q: What is a Mineral Resource Estimate (MRE)?
A: A Mineral Resource Estimate (MRE) is a formal scientific calculation of how much mineralization is believed to be present in a deposit, based on drilling and geological data. It helps investors understand the project’s potential size, although it is not the same as a mineable reserve.
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1. Ownership and Share Structure Information
The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.