Exploration Co. Defines Extensive Oxide Gold-Silver Expansion in Arizona

1. Aztec Minerals Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000. 
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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.

Aztec Minerals Corp. (AZT:TSX.V; AZZTF:OTCQB) announced on April 15, 2026, the results of 14 drill holes from the reverse circulation (RC) portion of its Tombstone Property 2025-2026 drill program. The company found additional strong, wide, and shallow oxide gold-silver intersections in the Westside target area. The company reported an additional extension of 0.4km of width into the mineralized zone of the Westside area, with the Contention Au/Ag (gold/silver) zone from the northern property limit to over 1km north-south on strike. The 17,000-meter drill program has completed 59 RC and 6 core drill holes, with results from additional Westside targets still pending.

Aztec Minerals CEO, Simon Dyakowski, commented on the results, saying, "Our expanded drill program continues to demonstrate the potential for significant growth of the near-surface oxide gold-silver mineralized zone at Tombstone. We are now aggressively and successfully testing the Westside area target. Drilling in the Contention zone continues to demonstrate consistently strong oxide gold and silver grades at shallow depths. The 17,000-meter 2025-2026 program is currently following up on Westside area targets and testing newly generated targets in the Southwest of the property, which include the Ingersoll, Hard-up, and Independence targets. These new targets represent the potential to reframe the project to an even larger scale with shallow targets in areas over 1km away from the historic open pit operations."

Notable results include multiple zones of oxide mineralization in the Bisbee sediments of Hole TR26-14, including ". . . 10.6m averaging 0.195 gpt Au and 13.0 gpt Ag from surface, 107.9m averaging 0.618 gpt Au and 24.8 gpt Ag from 39.5m, 48.6m averaging 0.091 gpt Au and 8.106 gpt Ag from 176.3m, and ending in 9.1m averaging 0.121 gpt Au and 10.17 gpt Ag from 234.1m." These results demonstrated that the entire Westside anticline could potentially host oxidized precious metal mineralization.

At Hole TR26-01, Aztec tested the Westside anticline and intersected, at depth, two zones of oxidized mineralization, from ". . . 51.7m to 74.5m depth for 22.8m averaging 0.038 gpt Au and 11.87 gpt Ag, and then from 86.6 m to 110.9 m for 24.3 meters averaging 0.039 gpt Au and 13.37 gpt Ag." These findings demonstrated the location of the historic Westside mine workings.

At Hole TR26-07, has been collared in the central portion of the Contention mineralization, and the drill program expanded it to 239.3 meters of depth, intersecting three mineralized zones, including ". . .  112.5m averaging 0.479 gpt Au and 12.64 gpt Ag."

Finally, the drill program tested Holes TR26-11 and TR26-12, which are collared in the western limits of the Contention area. Aztec drilled toward the east to test the western limits and the depth of the Contention mineralization. The company expanded the Contention Target mineralization 50-70 meters west and to depth. The findings for TR26-11 intercepted ". . . 100.3m averaging 0.173 gpt Au and 11.46 gpt Ag," while TR26-12 intercepted ". . . 48.6m averaging 0.172 gpt Au and 18.04 gpt Ag."

The company said that, "The intercepts show broad continuity of mineralization."

Aztec Minerals has been drilling in the contention area since 2020, using a 'fan grid pattern' to test the extensions on all sides. It has continuously identified depth and ". . . horizontally pervasively oxidized and hematite-rich, silicified hydrothermal breccias composed of quartz feldspar porphyry dike and Bisbee Group clastic sedimentary fragments, typical of the material mined historically at the Contention Mine." Other identified minerals include manganese replacements in limestone beds and skarns, quartz veinlets, oxidized sulfide relicts as disseminations, silicification of altered hornfels, quartz feldspar porphyries, and hydrothermal breccias.

Aztec Minerals Corp. is an exploration company focused on projects in Sonora, Mexico, and Arizona, U.S.A. The Tombstone Project is located in Southeastern Arizona, and Aztec holds an 85% interest in the joint venture.

Metals Investors Holding During War

Gold is usually stronger when the dollar is weaker, and Kitco reported on April 15 that, "The dollar's turnaround has been swift, with Bloomberg's dollar index dropping 1.9% in April after jumping 2.4% in March, as the U.S. and Iran started to discuss a resolution to the conflict." President Trump has signaled that the U.S.-Iran War may soon end, with new peace talks in the works.

The prospect of a peace deal has affected the market. "US-Iran talks can reduce geopolitical risk and increase investor confidence in equities. This may lower demand for safe-haven assets like gold and silver, causing short-term price declines," wrote Gandharv Walia for Economic Times on April 14, 2026.

Still, gold and silver are doing fairly well this week, despite dropping overnight among peace talk anticipation. "Technically, June gold futures bulls' next upside price objective is to produce a close above solid resistance at US$5,000.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at US$4,500.00. First resistance is seen at today's high of US$4,895.40 and then at US$4,950.00. First support is seen at US$4,800.00 and then at US$4,750.00," wrote Jim Wyckoff for Kitco on April 15, 2026.

In regard to silver futures, Wyckoff wrote, "May silver futures bulls see their next upside price objective for the bulls is closing prices above solid technical resistance at US$85.00. The next downside price objective for the bears is closing prices below solid support at US$70.00. First resistance is seen at US$80.00 and then at today's high of US$81.155. Next support is seen at US$77.00 and then at US$75.00."

Skittish investors are looking to experts for advice during this uncertain market. In response, Walia ended his article for the Economic Times by writing, "Analysts said the current market mood reflects a wait-and-see approach. Investors are watching oil price movements, geopolitical developments, and interest rate signals."

A 'Laughably Undervalued' Stock

Analysts and newsletter writers were already looking at the company beforehand. On March 3, 2026, Alina Islam gave the company a 'Buy' rating with a price target of CA$0.60, citing a probability-weighted valuation methodology.

As far back as January, 2026, Bob Moriarty of 321Gold.com wrote that, "Given the superior caliber of its twin company-making projects and record prices for both gold and silver simultaneously, Aztec is laughably undervalued."

After today's press release, Jeff Valks of The Gold Advisor agreed with Moriarty, writing, "There's lots of silver here, and the footprint is growing. Consensus from every analyst and investment banker on the tour: 'This is deeply undervalued.' I hold a long position; Jeff Clark holds an overweight position with no plans to sell."

Upcoming Company Catalysts

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.

Ownership & Share Structure¹

Aztec Minerals Corp. has a market cap of CA$49.10 million, with 188.84 million shares outstanding. The company's 52-week range is CA$0.17-CA$0.44.

Management & Insiders own 3.67% of shares, while Institutions own 11.56%. The remaining 84.77% of shares are Retail.