en.Wedoany.com Reported - Aztec Minerals Corp. has engaged Cassidy Joint Venture to conduct metallurgical testing on samples from its Tombstone gold-silver project in Arizona, aiming to de-risk the project and advance mineralization characterization.
Aztec Minerals Corp. (AZT:TSX.V; AZZTF:OTCQB) announced that it has commissioned Cassidy Joint Venture to perform initial bottle roll cyanide leaching tests on samples from the Tombstone gold-silver project. Located southeast of Tucson, Arizona, the tests will target oxidized gold-silver mineralization across multiple lithological types and grades, and are expected to help clarify the characteristics of different mineralization types within the project.
Drilling at the Tombstone project has so far completed 87 holes totaling 17,927 meters of reverse circulation drilling. Since 2026, the company has drilled 42 reverse circulation holes and 5 core holes, with results reported for the first 19 holes. Aztec expects to release additional results over the next two months.
Simon Diakowski, President and CEO of Aztec, stated that metallurgical testing on a significant volume of oxidized gold-silver mineralization from intercepts is a key step in de-risking the brownfield Tombstone gold-silver project. This work, along with the upcoming initial mineral resource estimate, is expected to demonstrate the project's greater economic potential for the local economy and Arizona. Additionally, Aztec has launched a new website to more smoothly showcase the company's future goals and catalysts.
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, with Aztec holding an 85% interest in the joint venture.
In the precious metals market, higher demand from electric vehicles, solar cells, data centers, and more is underpinning the future demand for silver. According to Yahoo Finance, citing experts from BlackRock and JPMorgan, by the end of 2026, analysts predict silver prices will exceed $80 per ounce, potentially reaching $100 per ounce by 2030. In January 2026, gold surged to a record high, breaking through $5,000 per ounce, but has recently declined due to rising inflation and a stronger U.S. dollar. On June 29, 2026, Chen Lin of "What is Chen Buying? What is Chen Selling?" expressed optimism about gold miners and their stocks, stating that gold's rebound from below $4,000 last week was encouraging. S&P Global wrote in April that gold is expected to remain volatile but structurally supported, with central bank demand and geopolitical risks helping to establish a price floor above recent correction lows. Despite gold's volatility, on May 7, 2026, Brian Taylor of "Recycling Today" noted that the World Bank Group forecasts a 17% overall increase in global metal prices in 2026, marking the first overall market rise since 2022.
In terms of institutional coverage, on April 27, 2026, technical analyst Stuart Thomson gave the company a "Strong Speculative Buy" rating with a short-term target price of $0.33 and a long-term target of $0.50. On June 2, 2026, Ben Pirie of Atrium Research initiated coverage on Aztec with a "Buy" rating and a target price of C$0.45. Pirie noted that, unlike most U.S. peers, the majority of the Tombstone project is located on patented land with permitting managed at the county level, and the company's current drilling program is the largest in its history, with an experienced management team.
The new Northern Target drilling program is expected to continue through August 2026, with results anticipated in the fourth quarter of 2026. Aztec believes the historic Tombstone silver mine may be related to a larger epithermal system and CRD mineralization beneath the old mine. Since 2017, the company has completed geological mapping, geochemical sampling, and geophysical surveys to identify the most favorable areas for gold-silver mineralization around and beneath the target open pit, as well as CRD-type zinc-lead-copper-silver-gold mineralization beneath the entire area. Company management considers the area highly prospective for discovering epithermal and CRD mineralization. According to an investor presentation, Aztec will begin developing its 2026 exploration plan for its Cervantes project in Mexico in the second quarter of 2026.
Aztec Minerals Corp. has a market capitalization of C$40.6 million with 188.88 million shares outstanding. The company's 52-week price range is C$0.17 to C$0.44. Institutional ownership stands at 11.26%, management and insiders hold 3.56%, and the remaining 85.18% is held by retail investors.
