en.Wedoany.com Reported - Aztec Minerals Corp. announced on May 28, 2026, that its Tombstone joint venture project in Arizona, USA, has been approved for an additional 3,500 meters of reverse circulation drilling in the North Contention area. The drilling program is scheduled to commence in June 2025, bringing the total drilling to approximately 22,000 meters, encompassing both core and reverse circulation drilling, with an additional approved budget of CAD 1.4 million.
The company stated that the ongoing program has currently completed 68 reverse circulation drill holes (totaling 14,162.5 meters) and 9 core drill holes (totaling 3,371.1 meters). Currently, 14 reverse circulation drill holes have been sent to the laboratory and are awaiting results, while another 3 core drill holes are awaiting core retrieval or shipment to the laboratory for results.
The company's second development is the signing of an investor relations contract with Redwood Empire Financial Communications. Operated by Michael Bayes in Alpharetta, Georgia, USA, the firm will provide corporate communications services to Aztec and assist in developing and implementing investor communication and financial public relations programs.
Aztec will also participate in mining investment events taking place in Quebec City, Canada, from June 1 to 4, 2026, and the 2026 Precious Metals Summit in Beaver Creek from September 22 to 25, 2026. Company representatives will engage with investors at these events.
Aztec Minerals Corp. is an exploration company focused on silver-gold projects in Sonora, Mexico, and Arizona, USA. The Tombstone project is located in southeastern Arizona, where Aztec holds an 85% interest in the joint venture.
On May 28, spot gold and silver prices declined, with silver falling to USD 74.91 per ounce, a drop of 3.25% from the previous trading day. Nevertheless, its trading price remains significantly higher than the USD 33.29 per ounce recorded in the same period last year. Although US President Trump claimed a new 60-day ceasefire extension had been reached, renewed conflict between the US and Iran dashed hopes for an end to the war. Demand from sectors such as electric vehicles, solar cells, and data centers is underpinning future demand for silver. Yahoo Finance cited experts from BlackRock and JPMorgan suggesting that silver prices are expected to exceed USD 80 per ounce by the end of 2026 and could potentially reach USD 100 per ounce by 2030. The Economic Times noted that the precious metals market remains highly sensitive to interest rates, inflation expectations, and geopolitical developments.
Technical analyst Stewart Thomson gave the company a "Strong Speculative Buy" rating on April 27, with a short-term price target of USD 0.33 and a long-term target of USD 0.50. Thomson noted bullish volume patterns, a rising MACD histogram, and stochastic indicators flashing buy signals in oversold territory. Jeff Valks, Senior Analyst at The Gold Advisor, issued a "Buy" rating for Aztec stock on May 28, citing the project's momentum, the expanding drill program, and Tombstone's rare combination of historical, channel, and modern work.
The new Northern Contention area drilling program is expected to continue until August 2026, with results anticipated in the fourth quarter of 2026. The company believes that the historic silver mines at Tombstone may be related to a larger mesothermal system with CRD (Carbonate Replacement Deposit) mineralization beneath the old mines, specifically including zinc, lead, copper, silver, and gold mineralization. Since 2017, Aztec has completed geological mapping, geochemical sampling, and geophysical surveys to identify the most prospective gold and silver mineralization zones around and beneath the Contention open pit. Company management considers the area highly prospective for the discovery of mesothermal and CRD mineralization. According to the company, in the second quarter of 2026, Aztec will begin formulating a 2026 exploration plan for its Cervantes project in Mexico.
Aztec Minerals Corp. has a market capitalization of CAD 49.1 million, with 188.84 million shares outstanding. The stock's 52-week price range is CAD 0.17 to CAD 0.44. Management and insiders hold 50% of the shares, with the remainder held by retail investors.
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