Arizona Metals (TSX: AMC) (OTCQX: AZMCF), a Toronto-based company that owns 100% of the Kay Mine Project in Yavapai County and 100% of the Sugarloaf Peak Property in La Paz County, is fully funded to continue its exploration plans. These include completing the balance of an ongoing 8,500-meter phase 2 program and an upcoming 76,000-meter phase 3 drilling program at its flagship Kay Mine Project. “On Jan. 17, 2023, Arizona Metals said that the step-out drilling located 300 meters north and on strike at the Kay Mine Deposit intersected a new zone of copper-gold VMS [volcanogenic massive sulfide) mineralization at depths between 150-600 meters vertically below surface. The new zone is open in all directions. Drilling is underway to test for extensions and widening of the mineralization. Arizona Metals also released results for six holes drilled at Kay, comprised of three infill and three extension holes. The detailed report was highlighted by multiple intercepts,” a recent article reads. “Arizona Metals CEO Marc Pais said that the latest drill results ‘confirm our opinion that the Kay Mine Deposit is potentially part of a much larger mineralized system, typical of what is encountered in other VMS camps around the world.’”
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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 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 estimates for the Kay Mine and Sugarloaf Peak properties have not been verified as current mineral resources. None of the key assumptions, parameters and methods used to prepare the historic estimates 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 estimates can be verified and upgraded to current mineral resources. A qualified person has not done sufficient work to classify these as current mineral resources, and Arizona Metals is not treating the historic estimates as current mineral resources.
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