Aztec Completes First 7 holes of Drilling Program at Tombstone Project and Increases Ownership in Project JV to 85%, Tombstone Gold-Silver Mining District, Arizona
PO Box 55 T: 604-685-9770
Suite 1030 – 505 Burrard Street www.aztecminerals.com
Vancouver, BC V7X 1M5
Aztec Completes First 7 holes of Drilling Program at Tombstone
Project and Increases Ownership in Project JV to 85%, Tombstone
Gold-Silver Mining District, Arizona
• Aztec Tombstone Property JV ownership interest increased to 85.0%
• 7 holes totalling 1,242 meters have been completed with assays pending
Vancouver, Canada – July 17, 2025 - Aztec Minerals Corp. (AZT: TSX -V, OTCQB: AZZTF) (“Aztec” or the
“Company”) announces that the first 7 holes totalling 1,242 meters of the current, planned, 3,200-meter
reverse circulation (RC) portion of the ongoing 5000-meter RC and core drilling program have been
completed. Drill samples were shipped to and received by Bureau Veritas Minerals laboratory for
geochemical analysis and results are anticipated in the next four weeks.
The Tombstone Property joint venture (“JV”) management committee also announces that the respective
partners’ participating interests have been adjusted, with the new joint venture participating interests
recalculated to 85.0% Aztec (from 78.7%) and 15.0% Dragoon Resources LLC (“Tombstone JV Partners”)
(from 21.3%).
Seven holes were drilled to test the southern extension of the north-trending main Contention Structure
Zone which hosts the historic underground and open pit Contention Mine. Two of the holes were drilled
as RC pre-collars to be completed with core drilling to explore for deeper sulphide mineralization indicated
by AMT survey1 below the shallow oxide gold-silver Contention target zone. Five of the holes encountered
pervasively oxidized and hematite -rich, silicified hydrothermal breccias composed of quartz feldspar
porphyry dike and Bisbee Group clastic sedimentary fragments, typical of the Contention Mine
mineralization.
Manganese-rich quartz veins and breccias with siliciclastic sediments and limestone s recrystalized and
altered to hornfels and weak skarns were also intersected. The deepest hole was drilled to 2 01m (173 m
vertical) and remained in oxidized and mixed oxidation the whole way. An additional hole was drilled
southwest of the main Contention Pit to test for obliquely intersecting mineralized structures and
intersected two separate structures with quartz-carbonate alteration.
The exploration program has also advanced surface targeting in the area of the newly staked, unpatented
lode claims (please see news release dated May 20 th, 2025) with shallow and deep mineralization
potential; surface sample assays are pending.
The Tombstone project cover s m uch of the historic Tombstone gold -silver district located in Cochise
County, Arizona. The drilling program underway is targeting shallow zones identified as prospective for
high-grade oxide gold -silver mineralization associated with recently completed drilling in late 2024 ,
including the discovery of high grade silver-gold in a new Southern extension discovery in hole TR24-16 of
569 gpt AgEq (18.3 opt AgEq – 290 gpt Ag, 3.48 gpt Au) over 25.8 m, the highest silver grade encountered
in drilling to-date by Aztec at the Tombstone Project (please see news release dated January 28, 2025).
The 2024 RC drilling program demonstrated the oxide Ag-Au mineralization remains open in all directions,
further supporting the potential for the increase in the footprint of shallow oxide silver -gold
mineralization in the vicinity of the Contention Zone.
The 2024 drill holes encountered oxidized (to 200+ meters deep) Au and Ag mesothermal quartz veins,
hydrothermal and tectonic breccias, quartz porphyry dikes, disseminations and bedding replacements in
the folded and partially hornfelzed and skarned lower Cretaceous Bisbee group fine -grained siliclastic
sediments and uppermost Paleozoic carbonates. The host rocks are iron-oxide to manganese oxide-rich,
with silicified and argillic alterations.
The deep oxidation, alteration and mineralization reported in TR24-16 supports the concept that the large
AMT anomaly1 located further down may potentially be mineralized. The JV will also test by reentering
the TR24 -13 precollar for the historic drill hole data at the Tombstone property recovered by Aztec
indicates the presence of a drill hole completed by Santa Fe Mining with an intercept of 7.14m (23.5 feet)
of 6.54% Pb, 2.57% Zn, 0.61% Cu, and 32 gpt Ag at a depth of 656.5m (2154 feet)*.
Tombstone Project Overview
Aztec Minerals holds a 85.0% interest in the Tombstone Property Joint Venture, which includes most of
the original patented mining claims in the main district as well as some recently acquired properties.
The main target of the recent drilling was to continue testing the shallow, bulk tonnage, potentially
heap leachable, mesothermal gold-silver oxide mineralization adjacent and below the previously mined
Contention pit by step-out drilling. Future drilling is expected to focus on strike and dip extensions of
the shallow oxide mineralization, and move deeper to test for larger, deeper “Taylor -type” lead-zinc-
silver CRD targets along and adjacent to the Contention structure.
The Tombstone project is located 100 kilometers (km) southeast of Tucson, Arizona and covers much of
the historic Tombstone silver district. Tombstone is renowned for its high grade, oxidized, silver -gold
mesothermal stringer lode veins, hydrothermal brec cias and manto CRD orebodies that were mined in
the late 1800’s and early 1900’s. The historic silver production in the Tombstone district from 1878 to
1939 was estimated at 32 million ounces and 250,000 ounces of gold*.
The district geology consists of a mix of shallow -level, oxidized Au-Ag and base metal deposits related to
CRD and skarns hosted in folded and thrusted sediments, intrusive dikes, and lode veins, and as well the
under explored, sulfide versions located below the water table.
Host rocks to the mineralization are primarily the clastic sediments of the lowest portion of the Cretaceous
Bisbee Formation. Between 50 and 300 meters (m) in depth, the Bisbee is underlain by approximately
two kms thick of the same Paleozoic carbonate formations that host the 110 MT Hermosa -Taylor zinc-
lead-silver deposit of South32 located 60 km southwest of Tombstone.
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 manageme nt views the district as highly prospective for
the discovery of mesothermal and CRD mineralization.
Summary Tombstone Project Highlights
• Well located property on patented (33) and unpatented (73) claims (663 hectares / 1639 acres),
covers much of the historic Tombstone silver mining district, great infrastructure, local town, road
access, full services, water, power
• Historic silver district* produced 32 million ounces of silver and 250,000 ounces of gold from
1878-1939, in high grade, oxidized, silver -gold-lead-zinc-copper vein, breccia and CRD deposits,
and small open pit heap leach production in late 1980’s
• Drilling by Aztec in 2020 -24 has demonstrated that the Contention Pit target has significant,
shallow. oxidized Au-Ag bulk tonnage mineralization which is open in all directions
• Multiple other prospective target s in Cretaceous and Paleozoic rocks related to major NW and
NNE trending structures hosting porphyritic intrusions crosscutting a possible caldera ring
structure
*Aztec has not verified these historic results and is not relying on them. Aztec has in its possession the
historic drill logs, maps and reports but does not have any information on the quality assurance or quality
control measures taken in connection with these historical exploration results.
Noted References:
1 – “Zonge International, AMT Survey, Tombstone Project, Cochise County, AZ, Data Acquisition and
Processing Report, Prepared for Aztec Minerals, 18 May 2020, Zonge Job #20013”
Allen David Heyl, B.Sc., CPG., VP Exploration of Aztec, is the Qualified Person under NI43-101, supervised
the Tombstone exploration programs. Mr. Heyl has reviewed and approved the technical disclosures in
this news release.
“Simon Dyakowski”
Simon Dyakowski, Chief Executive Officer
Aztec Minerals Corp.
About Aztec Minerals – Aztec is a mineral exploration company focused on two emerging discoveries in
North America. The Cervantes project is an emerging porphyry gold -copper discovery in Sonora, Mexico.
The Tombstone project is an emerging gold-silver discovery with high grade CRD silver-lead-zinc potential
in southern Arizona. Aztec’s shares trade on the TSX -V stock exchange (symbol AZT) and on the OTCQB
(symbol AZZTF).
Contact Information - For more information, please contact:
Simon Dyakowski, President & CEO, Director
Tel: (604) 685-9770
Fax: (604) 685-9744
Email: [email protected]
Website: www.aztecminerals.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsib ility
for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved
or disapproved the information contained herein.
Forward-Looking Statements:
This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, whic h
may include, without limitation, completing ongoing and planned work, statements relating to advancing the Tombstone Project,
drill and sampling results including additional potential work and results therefrom, the Company’s plans for its Tombstone
Project, potential for further expansion of the mineralization at the Tombstone Project, expected results and outcomes, the
technical, financial and business prospects of the Company, its project and other matters. All statements in this news release,
other than statements of historical facts, that address events or developments that the Company expects to occur, are forward -
looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from
those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present
and future business strategies and the environment in which the Company will operate in the future, including the price of metals,
the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that
financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s
views with res pect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties
relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and
the potential for unexpected costs and expenses, and those filed under the Company’s profile on SEDAR+ at www.sedarplus.ca.
Factors that could cause actual results to differ materially from those in forward looking statements include, but are not li mited
to, co ntinued availability of capital and financing and general economic, market or business conditions, adverse weather or
climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to obtain
or maintain community acceptance (including First Nations), decrease in the price of gold, silver and other metals, increase in
costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update
forward‐looking statements or forward‐looking information, except as required by law.