TORONTO--(BUSINESS WIRE)--Arizona Metals Corp. (TSX.V:AMC, OTCQX:AZMCF) (the “Company” or “Arizona Metals”) is pleased to announce the results of an additional four drill holes at the recently discovered gold-rich zone of open-ended mineralization at the Kay Mine, in an area previously untested by historic drilling or exploration.
Branch Hole 21A intersected 63 m at a grade of 1.3 g/t Au, 3.1% Zn, 0.5% Cu, and 59 g/t Ag., including a higher-grade interval of 16.9 m grading 2.5 g/t Au, 4.1% Zn, 0.5% Cu, and 81 g/t Ag. Further up-hole, 21A also intersected 9.4 m grading 0.6 g/t Au, 2.3% Zn, 1.2% Cu, and 9 g/t Ag. Hole 21A entered mineralization at a vertical depth of 362 m.
Branch Hole 25A intersected 65 m of 1.9 g/t Au, 2.2% Zn, 1.0% Cu, and 19 g/t Ag, including two separate higher-grade intervals of 7.3 m grading 2.1 g/t Au, 1.9% Zn, 3.7% Cu, and 30 g/t Ag, and 6.1 m grading 8.0 g/t Au, 3.7% Zn, 2.7% Cu, and 37 g/t Ag, from a vertical depth of 620 m. Hole 25A is a branch from hole 25 (79 m at 2.3 g/t Au, 2.8 % Zn, 1.4 % Cu and 43 g/t Ag), and is located 30 m north and 25 m above hole 25, in order to test both the lateral extension and vertical continuity of mineralization.
Hole 25B intersected 4.3 m grading 0.9 g/t Au, 0.9% Zn, 0.9% Cu, and 25 g/t Ag, within a broader 35 m interval of stringer to semi-massive sulphide mineralization.
Hole 26 intersected 76 m grading 1.6 g/t Au, 4.2% Zn, 0.8% Cu, and 33 g/t Ag, including two separate higher-grade intervals of 14.9 m grading 1.8 g/t Au, 9.7% Zn, 0.7% Cu and 43 g/t Ag, and 9.0 m at 6.1 g/t Au, 4.0% Cu, 3.3% Zn, and 18 g/t Ag, from a vertical depth of 475 m. This hole was targeted to test a zone located 50 m below hole 24 (91 m at 1.3 g/t Au, 3.4 % Zn, 0.5 % Cu, and 44 g/t Ag), but due to excessive flattening while drilling, ended up at a similar elevation to hole 24, but 15 m to the north.
Marc Pais, CEO, commented, “The four drill holes released today validate and extend the new gold-rich zinc zone discovery, with broad intervals of mineralization ranging from 63 m to 76 m, and true widths estimated at an average of 80%. Hole 27 (assays pending) demonstrates that mineralization extends at least 100 m deeper than reported by previous operators. Holes 27A and 27B (assays pending) have encountered semi-massive to massive sulphide mineralization at thicknesses similar to those reported in the discovery holes, while also demonstrating the potential for the discovery zone to both extend at depth and increase on strike as it deepens. The first few holes drilled in the discovery zone were on a large step-out spacing of 100 m to 150 m. Subsequent branch holes to infill between these holes are demonstrating excellent vertical continuity, as well as lateral extension of mineralization on strike to both the north and south. Holes at the lab with assays pending, as well as those currently in progress, and planned, are targeted at aggressively testing the expansion potential of this new discovery. A third drill rig was delivered to site earlier this month, and is currently drilling a target located 500 metres north of the Kay Mine. With the recently completed financing of $21 million, the Company is fully-funded to complete the 75,000 metre Phase 2 expansion program.”
Hole 27 (assays pending) is located approximately 110 m below hole 25. Branch hole 27A (assays pending) was drilled at the same elevation as hole 27, but 110 m to the south. Hole 27B (assays pending), was drilled 50 m to south of 27, in order to test for the extensions at depth of high-grade gold-zinc zones observed in holes 21A, 24, 26, 25, and 25A. Hole 28 (assays pending) targeted an area located 100 m above hole 25, and 100 m north of hole 25B.
The bulk of the mineralized intervals in holes 21A, 25A and 26 are located between the North and South Zones (Figure 1), outside of the area defined in the historic estimate by Exxon. Historical records show very little exploration in this area by Exxon, or other previous operators. Hole 27 was drilled 110 m deeper than hole 25. Hole 27 is 400 m deeper than 21A. These newly defined, wide, high-grade intervals demonstrate the potential to add a significant tonnage of gold-zinc mineralization outside of the historic resource, which is predominantly copper-gold in composition.
Kay Mine Permitting Update and Addition of Third Drill Rig
A third diamond core drill rig was delivered to site on Wednesday June 9th and began turning at pad 4, located 500 m north of the Kay Mine, on Friday June 11th. This rig is targeting a shallow (120 m) historic intercept of alternating copper, zinc and gold massive sulphides, that is coincident with both structural and gravity anomalies identified by Arizona Metals.
Permitting for pad and road construction to test the Central and Western Targets was subject to Covid-19 related delays, but is now progressing well again, with drilling expected at these targets later this year.
Covid-19 Monitoring and Mitigation Procedures
The Company’s drill contractor, Boart Longyear, has instituted Covid-19 monitoring procedures for all drill crew members, including daily temperature and symptom checks. Arizona Metals Corp will be provided with daily health tracking updates for the drill crews and has also instituted its own social distancing policies and provided a guidance manual for employees at site.
Table 1. Results of Phase 2 Drill Program at Kay Mine, Yavapai County, Arizona. The true width of mineralization is estimated to be 50% to 97% of reported core width, with an average of 80%.
| Analyzed Grade | ||||||||||||||||
Hole ID |
|
From m |
|
To m |
|
Length m |
Cu % |
|
Au g/t |
|
Zn % |
|
Ag g/t |
|
Pb % |
Vertical
|
| KM-21-17 | 429.5 |
449.9 |
20.4 |
1.81 |
1.10 |
1.20 |
21.16 |
0.17 |
300 |
|||||||
| including | 429.5 |
434.0 |
4.6 |
4.61 |
1.73 |
1.91 |
29.10 |
0.24 |
||||||||
| including | 432.7 |
434.0 |
1.4 |
0.52 |
6.81 |
8.29 |
40.00 |
1.10 |
||||||||
| KM-21-17 | 504.4 |
505.4 |
0.9 |
1.19 |
4.73 |
0.05 |
9.00 |
0.00 |
356 |
|||||||
| KM-21-18 | 404.3 |
429.8 |
25.5 |
0.35 |
0.86 |
1.71 |
15.78 |
0.23 |
255 |
|||||||
| including | 408.6 |
410.6 |
2.0 |
0.50 |
2.22 |
7.25 |
64.36 |
0.82 |
||||||||
| including | 424.9 |
427.3 |
2.4 |
1.60 |
2.59 |
3.16 |
18.00 |
0.52 |
||||||||
| KM-21-18A | 391.4 |
423.8 |
32.5 |
1.09 |
0.62 |
1.25 |
17.57 |
0.15 |
233 |
|||||||
| including | 393.3 |
395.8 |
2.4 |
9.57 |
2.83 |
2.72 |
40.88 |
0.28 |
||||||||
| KM-21-19 | 377.8 |
378.3 |
0.5 |
3.39 |
5.59 |
6.83 |
128.00 |
0.63 |
337 |
|||||||
| KM-21-20 | 442.7 |
443.6 |
0.9 |
2.56 |
0.52 |
3.52 |
18.50 |
0.14 |
362 |
|||||||
| KM-21-20 | 456.0 |
458.1 |
2.1 |
1.49 |
0.35 |
0.14 |
6.00 |
0.04 |
370 |
|||||||
| KM-21-21 | 452.6 |
495.5 |
42.8 |
0.80 |
0.78 |
1.52 |
15.06 |
0.15 |
362 |
|||||||
| including | 488.7 |
493.5 |
4.8 |
0.26 |
2.50 |
6.13 |
27.55 |
0.54 |
||||||||
| KM-21-21A | 422.0 |
431.4 |
9.4 |
1.17 |
0.57 |
2.25 |
8.56 |
0.36 |
362 |
|||||||
| KM-21-21A | 439.1 |
502.1 |
63.0 |
0.45 |
1.28 |
3.14 |
58.77 |
0.77 |
366 |
|||||||
| including | 465.0 |
481.9 |
16.9 |
0.52 |
2.45 |
4.05 |
80.90 |
0.99 |
||||||||
| KM-21-23 | 394.4 |
401.4 |
7.0 |
0.36 |
0.93 |
1.94 |
13.52 |
1.17 |
313 |
|||||||
| KM-21-23 | 438.6 |
459.2 |
20.6 |
0.17 |
1.18 |
1.93 |
27.79 |
0.37 |
336 |
|||||||
| KM-21-24 | 501.2 |
592.1 |
90.8 |
0.45 |
1.33 |
3.42 |
44.29 |
0.41 |
470 |
|||||||
| including | 501.2 |
521.7 |
20.4 |
1.34 |
1.70 |
6.35 |
113.06 |
0.66 |
||||||||
| including | 520.9 |
521.7 |
0.8 |
1.75 |
16.50 |
9.55 |
574.00 |
1.22 |
||||||||
| including | 575.9 |
592.1 |
16.2 |
0.16 |
2.50 |
6.00 |
44.39 |
0.79 |
||||||||
| including | 588.7 |
590.4 |
1.7 |
0.47 |
9.98 |
23.70 |
18.18 |
0.13 |
||||||||
| KM-21-25 | 662.6 |
741.3 |
78.6 |
1.41 |
2.33 |
2.79 |
43.41 |
0.35 |
638 |
|||||||
| including | 663.2 |
672.7 |
9.4 |
8.06 |
1.84 |
1.31 |
92.26 |
0.15 |
||||||||
| including | 693.0 |
703.9 |
11.0 |
0.68 |
6.28 |
10.40 |
99.67 |
1.17 |
||||||||
| KM-21-25A | 654.7 |
719.9 |
65.2 |
1.04 |
1.94 |
2.15 |
18.77 |
0.18 |
620 |
|||||||
| including | 655.5 |
662.8 |
7.3 |
3.66 |
2.09 |
1.85 |
30.23 |
0.21 |
||||||||
| including | 710.8 |
716.9 |
6.1 |
2.72 |
7.95 |
3.73 |
37.40 |
0.31 |
||||||||
| KM-21-25B | 647.2 |
648.9 |
1.7 |
0.13 |
0.58 |
2.41 |
62.09 |
0.64 |
600 |
|||||||
| KM-21-25B | 655.6 |
659.9 |
4.3 |
0.93 |
0.91 |
0.91 |
25.32 |
0.19 |
||||||||
| KM-21-25B | 666.0 |
667.8 |
1.8 |
0.60 |
0.72 |
2.98 |
33.52 |
0.43 |
||||||||
| KM-21-25B | 673.3 |
674.7 |
1.4 |
0.08 |
2.10 |
2.39 |
23.00 |
0.33 |
||||||||
| KM-21-25B | 681.2 |
682.6 |
1.4 |
0.09 |
1.54 |
2.98 |
11.00 |
0.35 |
||||||||
| KM-21-26 | 506.7 |
582.8 |
76.0 |
0.79 |
1.61 |
4.23 |
32.65 |
0.54 |
475 |
|||||||
| including | 511.1 |
526.1 |
14.9 |
0.73 |
1.78 |
9.68 |
43.34 |
0.77 |
||||||||
| including | 573.8 |
582.8 |
9.0 |
4.02 |
6.06 |
3.32 |
18.24 |
0.19 |
||||||||
Table 2. Results of Phase 1 Drill Program at Kay Mine, Yavapai County, Arizona. The true width of mineralization is estimated to be 50% to 97% of reported core width, with an average of 80%.
| Analyzed Grade | ||||||||||||||||
Hole ID |
|
From m |
|
To m |
|
Length m |
Au g/t |
|
Ag g/t |
|
Cu % |
|
Pb % |
|
Zn % |
Vertical
|
| KM-20-01 | 275.8 |
281.5 |
5.6 |
0.48 |
11.6 |
0.57 |
0.18 |
1.20 |
156 |
|||||||
| including | 275.8 |
276.5 |
0.6 |
1.22 |
32.0 |
0.50 |
0.73 |
5.04 |
||||||||
| including | 279.8 |
281.5 |
1.6 |
0.98 |
22.6 |
1.21 |
0.23 |
1.49 |
||||||||
| KM-20-02 | 297.8 |
300.8 |
3.0 |
0.20 |
1.4 |
0.77 |
0.01 |
0.04 |
172 |
|||||||
| KM-20-03 | 256.3 |
259.1 |
2.7 |
1.01 |
69.6 |
3.40 |
0.09 |
0.65 |
120 |
|||||||
| including | 256.3 |
257.3 |
0.9 |
1.79 |
56.0 |
7.42 |
0.17 |
1.11 |
||||||||
| KM-20-03 | 292.2 |
292.6 |
0.5 |
0.19 |
2.0 |
2.43 |
0.04 |
0.15 |
152 |
|||||||
| KM-20-03 | 295.4 |
295.8 |
0.5 |
0.80 |
6.0 |
1.35 |
0.06 |
0.91 |
154 |
|||||||
| KM-20-03A | 252.4 |
256.9 |
4.6 |
2.55 |
35.6 |
3.70 |
0.03 |
0.27 |
122 |
|||||||
| including | 252.4 |
253.1 |
0.8 |
6.34 |
164.0 |
9.74 |
0.11 |
0.40 |
||||||||
| KM-20-05 | 266.6 |
269.0 |
2.4 |
1.94 |
43.3 |
6.47 |
0.14 |
0.57 |
150 |
|||||||
| including | 266.6 |
267.8 |
1.2 |
2.21 |
50.0 |
10.60 |
0.26 |
1.05 |
||||||||
| KM-20-06 | 267.9 |
281.5 |
13.5 |
0.85 |
45.6 |
1.02 |
0.30 |
1.23 |
158 |
|||||||
| including | 267.9 |
268.4 |
0.5 |
2.20 |
31.0 |
1.54 |
0.81 |
6.10 |
||||||||
| including | 276.6 |
281.5 |
4.9 |
0.87 |
92.1 |
1.86 |
0.42 |
1.96 |
||||||||
| including | 280.0 |
281.0 |
1.1 |
1.03 |
340.0 |
3.22 |
0.04 |
0.64 |
||||||||
| KM-20-09 | 588.1 |
588.4 |
0.3 |
1.74 |
15.0 |
0.91 |
0.40 |
1.86 |
||||||||
| KM-20-09 | 613.4 |
614.1 |
0.7 |
1.81 |
10.0 |
0.90 |
0.08 |
1.04 |
||||||||
| KM-20-09 | 614.6 |
614.9 |
0.3 |
0.36 |
19.0 |
2.64 |
0.10 |
0.98 |
||||||||
| KM-20-09 | 632.8 |
638.9 |
6.1 |
4.18 |
41.7 |
0.12 |
0.82 |
8.02 |
575 |
|||||||
| including | 633.6 |
637.9 |
4.4 |
5.46 |
33.1 |
0.15 |
0.50 |
9.06 |
||||||||
| including | 636.9 |
637.9 |
1.1 |
9.77 |
68.0 |
0.17 |
0.78 |
14.65 |
||||||||
| KM-20-10 | 563.6 |
568.5 |
4.9 |
2.16 |
24.9 |
2.39 |
0.31 |
3.27 |
490 |
|||||||
| including | 563.6 |
566.6 |
3.0 |
2.42 |
28.2 |
3.66 |
0.32 |
3.16 |
||||||||
| including | 567.2 |
568.5 |
1.2 |
2.52 |
28.4 |
0.33 |
0.43 |
5.10 |
||||||||
| KM-20-10 | 574.2 |
574.9 |
0.6 |
4.33 |
113.0 |
0.12 |
0.16 |
11.30 |
498 |
|||||||
| KM-20-10 | 577.7 |
579.3 |
1.6 |
0.70 |
45.9 |
0.03 |
0.68 |
4.38 |
500 |
|||||||
| KM-20-10 | 582.3 |
583.1 |
0.8 |
0.42 |
51.0 |
0.03 |
1.07 |
2.90 |
502 |
|||||||
| KM-20-10A | 521.2 |
522.5 |
1.3 |
1.27 |
51.1 |
2.13 |
0.91 |
7.46 |
437 |
|||||||
| KM-20-10A | 527.9 |
538.6 |
10.7 |
1.66 |
27.2 |
1.32 |
0.30 |
2.58 |
442 |
|||||||
| including | 527.9 |
529.4 |
1.5 |
0.92 |
30.2 |
6.69 |
0.07 |
1.62 |
||||||||
| including | 532.2 |
535.3 |
3.1 |
1.75 |
34.3 |
0.72 |
0.42 |
2.99 |
||||||||
| including | 537.2 |
538.6 |
1.4 |
7.29 |
79.2 |
0.16 |
0.60 |
9.06 |
||||||||
| KM-20-10B | 503.0 |
530.7 |
27.6 |
0.97 |
21.3 |
0.87 |
0.32 |
1.76 |
423 |
|||||||
| including | 503.0 |
509.6 |
6.6 |
1.55 |
29.8 |
1.78 |
0.37 |
2.55 |
||||||||
| including | 513.9 |
518.3 |
4.4 |
1.89 |
47.4 |
1.08 |
0.68 |
4.05 |
||||||||
| including | 527.2 |
530.7 |
3.5 |
2.32 |
52.9 |
1.91 |
0.99 |
3.93 |
||||||||
| KM-20-10C | 523.9 |
530.7 |
6.8 |
3.32 |
102.0 |
0.58 |
1.15 |
5.84 |
422 |
|||||||
| including | 523.9 |
528.2 |
4.3 |
4.89 |
125.2 |
0.88 |
1.45 |
7.61 |
||||||||
| including | 525.6 |
526.4 |
0.8 |
16.65 |
214.0 |
0.52 |
2.76 |
21.40 |
||||||||
| KM-20-11 | 554.1 |
556.9 |
2.7 |
2.83 |
70.0 |
4.14 |
0.28 |
3.56 |
490 |
|||||||
| KM-20-12 | 371.9 |
376.7 |
4.9 |
0.37 |
12.4 |
3.99 |
0.07 |
0.62 |
318 |
|||||||
| including | 371.9 |
373.7 |
1.9 |
0.67 |
28.0 |
8.49 |
0.16 |
1.53 |
||||||||
| KM-20-12 | 379.5 |
405.4 |
25.9 |
0.08 |
2.3 |
0.73 |
0.01 |
0.08 |
326 |
|||||||
| KM-20-13 | 443.6 |
486.8 |
43.1 |
1.26 |
23.3 |
1.68 |
0.24 |
1.67 |
341 |
|||||||
| including | 444.4 |
459.6 |
15.2 |
1.80 |
38.5 |
3.42 |
0.39 |
2.36 |
||||||||
| including | 444.4 |
447.1 |
2.7 |
3.74 |
55.0 |
1.02 |
1.88 |
10.64 |
||||||||
| including | 451.4 |
455.8 |
4.4 |
1.18 |
65.3 |
8.41 |
0.02 |
0.16 |
||||||||
| KM-20-14 | 421.7 |
461.6 |
39.9 |
1.00 |
18.4 |
1.47 |
0.19 |
1.67 |
314 |
|||||||
| including | 426.3 |
429.8 |
3.5 |
1.28 |
30.0 |
9.56 |
0.07 |
0.95 |
||||||||
| including | 457.2 |
460.7 |
3.5 |
2.58 |
26.3 |
0.36 |
0.38 |
8.33 |
||||||||
| KM-20-14A | 404.6 |
409.0 |
4.4 |
1.48 |
79.2 |
1.67 |
0.41 |
2.50 |
303 |
|||||||
| including | 404.6 |
406.4 |
1.7 |
2.46 |
173.6 |
4.08 |
0.53 |
5.02 |
||||||||
| KM-20-14A | 421.0 |
443.5 |
22.5 |
0.72 |
15.9 |
0.86 |
0.18 |
1.51 |
312 |
|||||||
| including | 421.0 |
421.8 |
0.8 |
2.91 |
45.0 |
9.81 |
0.19 |
1.69 |
||||||||
| including | 421.0 |
425.0 |
4.1 |
1.14 |
21.4 |
3.23 |
0.14 |
1.30 |
||||||||
| KM-20-15 | 506.8 |
510.1 |
3.3 |
0.33 |
192.0 |
0.05 |
1.75 |
3.73 |
402 |
|||||||
| KM-20-16 | 480.4 |
518.8 |
38.4 |
0.81 |
24.3 |
0.85 |
0.25 |
2.24 |
385 |
|||||||
| including | 480.4 |
492.9 |
12.5 |
1.98 |
48.5 |
1.63 |
0.50 |
4.23 |
||||||||
| including | 480.4 |
483.4 |
3.0 |
4.74 |
77.9 |
2.40 |
0.91 |
7.49 |
||||||||
| including | 489.8 |
492.9 |
3.0 |
2.59 |
100.7 |
3.61 |
0.92 |
6.90 |
||||||||
Table 3. Locations of Phase 1 and 2 Program drill holes completed and in progress at Kay Mine, Arizona
| Hole ID | Phase |
Drill Pad |
Zone |
Collar East
|
Collar North
|
Collar
|
Collar
|
Collar Dip |
Total
|
| KM-20-01 | 1 |
Pad 1 | North | 392684 |
3769388 |
643 |
78 |
-48 |
335 |
| KM-20-02 | 1 |
Pad 1 | North | 392684 |
3769388 |
643 |
75 |
-50 |
304 |
| KM-20-03 | 1 |
Pad 1 | North | 392684 |
3769388 |
643 |
72 |
-43.3 |
366 |
| KM-20-03A | 1 |
Pad 1 | North | 392684 |
3769388 |
643 |
72 |
-43.3 |
321 |
| KM-20-04 | 1 |
Pad 1 | North | 392684 |
3769388 |
643 |
65.1 |
-47.5 |
354 |
| KM-20-05 | 1 |
Pad 1 | North | 392684 |
3769388 |
643 |
73.3 |
-47.2 |
349 |
| KM-20-06 | 1 |
Pad 1 | North | 392684 |
3769388 |
643 |
81.3 |
-48.3 |
317 |
| KM-20-07 | 1 |
Pad 1 | North | 392684 |
3769388 |
643 |
85.6 |
-47.6 |
308 |
| KM-20-08 | 1 |
Pad 2 | South | 392638 |
3769266 |
653 |
91.1 |
-77.1 |
36 |
| KM-20-09 | 1 |
Pad 2 | South | 392638 |
3769266 |
653 |
92.1 |
-77 |
671 |
| KM-20-10 | 1 |
Pad 2 | South | 392638 |
3769266 |
653 |
96.3 |
-72.2 |
645 |
| KM-20-10A | 1 |
Pad 2 | South | 392638 |
3769266 |
653 |
96.3 |
-72.2 |
600 |
| KM-20-10B | 1 |
Pad 2 | South | 392638 |
3769266 |
653 |
96.3 |
-72.2 |
555 |
| KM-20-10C | 1 |
Pad 2 | South | 392638 |
3769266 |
653 |
96.3 |
-72.2 |
560 |
| KM-20-11 | 1 |
Pad 3 | North | 392552 |
3769328 |
638 |
57.3 |
-67.5 |
653 |
| KM-20-12 | 1 |
Pad 1 | North | 392684 |
3769388 |
643 |
95.7 |
-70.8 |
583 |
| KM-20-13 | 1 |
Pad 1 | South | 392684 |
3769388 |
643 |
124 |
-66.5 |
524 |
| KM-20-14 | 1 |
Pad 1 | South | 392684 |
3769388 |
643 |
133.6 |
-66 |
550 |
| KM-20-14A | 1 |
Pad 1 | South | 392684 |
3769388 |
643 |
133.6 |
-66 |
549 |
| KM-20-15 | 1 |
Pad 2 | South | 392638 |
3769266 |
653 |
106.7 |
-66.8 |
572 |
| KM-20-16 | 1 |
Pad 2 | South | 392638 |
3769266 |
653 |
91.5 |
-68.9 |
581 |
| KM-21-17 | 2 |
Pad 2 | South | 392638 |
3769266 |
653 |
90.5 |
-59.5 |
892 |
| KM-21-18 | 2 |
Pad 2 | South | 392638 |
3769266 |
653 |
89.8 |
-55 |
518 |
| KM-21-18A | 2 |
Pad 2 | South | 392638 |
3769266 |
653 |
89.8 |
-55 |
472 |
| KM-21-19 | 2 |
Pad 1 | North | 392684 |
3769388 |
643 |
59.3 |
-69.5 |
482 |
| KM-21-20 | 2 |
Pad 2 | North | 392638 |
3769266 |
653 |
53.7 |
-67.3 |
553 |
| KM-21-21 | 2 |
Pad 1 | South | 392684 |
3769388 |
643 |
126 |
-70 |
561 |
| KM-21-21A | 2 |
Pad 1 | South | 392684 |
3769388 |
643 |
126 |
-70 |
556 |
| KM-21-22 | 2 |
Pad 3 | Grav | 392552 |
3769328 |
638 |
33 |
-63 |
725 |
| KM-21-22A | 2 |
Pad 3 | Grav | 392552 |
3769328 |
638 |
33 |
-63 |
694 |
| KM-21-23 | 2 |
Pad 1 | South | 392684 |
3769388 |
643 |
114.2 |
-66.3 |
528 |
| KM-21-24 | 2 |
Pad 1 | South | 392684 |
3769388 |
643 |
119 |
-75.1 |
623 |
| KM-21-25 | 2 |
Pad 3 | South | 392552 |
3769328 |
638 |
80 |
-77.4 |
775 |
| KM-21-25A | 2 |
Pad 3 | South | 392552 |
3769328 |
638 |
80 |
-77.4 |
746 |
| KM-21-25B | 2 |
Pad 3 | South | 392552 |
3769328 |
638 |
80 |
-77.4 |
738 |
| KM-21-26 | 2 |
Pad 1 | South | 392684 |
3769388 |
643 |
118.2 |
-79.3 |
616 |
| KM-21-27 | 2 |
Pad 1 | South | 392684 |
3769388 |
643 |
90.4 |
-86.7 |
859 |
| KM-21-27A | 2 |
Pad 1 | South | 392684 |
3769388 |
643 |
90.4 |
-86.7 |
817 |
| KM-21-27B | 2 |
Pad 1 | South | 392684 |
3769388 |
643 |
90.4 |
-86.7 |
823 |
| KM-21-28 | 2 |
Pad 3 | South | 392552 |
3769328 |
638 |
86.7 |
-70.5 |
774 |
| KM-21-29 | 2 |
Pad 1 | South | 392684 |
3769388 |
643 |
108.5 |
-54 |
489 |
About Arizona Metals Corp.
Arizona Metals Corp. owns 100% of the Kay Mine Property in Yavapai County, which is located on a combination of patented and BLM claims totaling 1,300 acres that are not subject to any royalties. An historic estimate by Exxon Minerals in 1982 reported a “proven and probable reserve of 6.4 million short tons at a grade of 2.2% copper, 2.8 g/t gold, 3.03% zinc, and 55 g/t silver.” The historic estimate at the Kay Mine was reported by Exxon Minerals in 1982. The historic estimate has not been verified as a current mineral resource. None of the key assumptions, parameters, and methods used to prepare the historic estimate were reported, and no resource categories were used. Significant data compilation, re-drilling and data verification may be required by a “qualified person” (as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects) before the historic estimate can be verified and upgraded to be a current mineral resource. A qualified person has not done sufficient work to classify it as a current mineral resource, and Arizona Metals is not treating the historic estimate as a current mineral resource.
The Kay Mine is a steeply dipping VMS deposit that has been defined from a depth of 60 m to at least 900 m. It is open for expansion on strike and at depth.
The Company also owns 100% of the Sugarloaf Peak Property, in La Paz County, which is located on 4,400 acres of BLM claims. Sugarloaf is a heap-leach, open-pit target and has a historic estimate of “100 million tons containing 1.5 million ounces gold” at a grade of 0.5 g/t (Dausinger, 1983, Westworld Resources).
The historic estimate at the Sugarloaf Peak Property was reported by Westworld Resources in 1983. The historic estimate has not been verified as a current mineral resource. None of the key assumptions, parameters, and methods used to prepare the historic estimate were reported, and no resource categories were used. Significant data compilation, re-drilling and data verification may be required by a qualified person before the historic estimate can be verified and upgraded to a current mineral resource. A qualified person has not done sufficient work to classify it as a current mineral resource, and Arizona Metals is not treating the historic estimate as a current mineral resource.
Qualified Person and Quality Assurance/Quality Control
All of Arizona Metals’ drill sample assay results have been independently monitored through a quality assurance/quality control (“QA/QC”) protocol which includes the insertion of blind standard reference materials and blanks at regular intervals. Logging and sampling were completed at Arizona Metals’ core handling facilities located in Anthem and Black Canyon City, Arizona. Drill core was diamond sawn on site and half drill-core samples were securely transported to ALS Laboratories’ (“ALS”) sample preparation facility in Tucson, Arizona. Sample pulps were sent to ALS’s labs in Vancouver, Canada, for analysis.
Gold content was determined by fire assay of a 30-gram charge with ICP finish (ALS method Au-AA23). Silver and 32 other elements were analyzed by ICP methods with four-acid digestion (ALS method ME-ICP61a). Over-limit samples for Au, Ag, Cu, and Zn were determined by ore-grade analyses Au-GRA21, Ag-OG62, Cu-OG62, and Zn-OG62, respectively.
ALS Laboratories is independent of Arizona Metals Corp. and its Vancouver facility is ISO 17025 accredited. ALS also performed its own internal QA/QC procedures to assure the accuracy and integrity of results. Parameters for ALS’ internal and Arizona Metals’ external blind quality control samples were acceptable for the samples analyzed. Arizona Metals is not aware of any drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data referred to herein.
The qualified person who reviewed and approved the technical disclosure in this release is David Smith, CPG, a qualified person as defined in National Instrument43-101–Standards of Disclosure for Mineral Projects. Mr. Smith supervised the preparation of the scientific and technical information that forms the basis for this news release and has reviewed and approved the disclosure herein. Mr. Smith is the Vice-President, Exploration of the Company. Mr. Smith supervised the drill program and verified the data disclosed, including sampling, analytical and QA/QC data, underlying the technical information in this news release, including reviewing the reports of ALS, methodologies, results, and all procedures undertaken for quality assurance and quality control in a manner consistent with industry practice, and all matters were consistent and accurate according to his professional judgement. There were no limitations on the verification process.
Disclaimer
This press release contains statements that constitute “forward-looking information” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation, All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements contained in this press release include, without limitation, statements regarding drill results and future drilling and assays, the resumption of drilling and the effects of the COVID-19 pandemic on the business and operations of the Company. In making the forward- looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: availability of financing; delay or failure to receive required permits or regulatory approvals; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward- looking statements or otherwise.
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