Arizona Metals (TSX: AMC) (OTCQX: AZMCF) today announced that the first hole (KM-23-104) drilled at the Western Target of the Kay Mine Project intersected 16 metres of stringer to semi-massive sulphide mineralization, including visible copper sulphide (chalcopyrite) and zinc sulphide (sphalerite). According to the update, the VMS mineralization occurs within a broader interval of syn-mineral quartz-carbonate veining accompanied by sulphide minerals (pyrite, pyrrhotite, sphalerite, chalcopyrite, and arsenopyrite) and anomalous zinc and copper readings from onsite portable XRF. The hole ended in sulphide-bearing core but was stopped at 888 metres downhole due to separated drill rods. Hole 104 was submitted for assay and results are pending. In addition, the company will continue testing this new zone of mineralization via a new branch hole, KM-23-104A. “Intersecting such a broad interval of VMS mineralization in our very first hole at the Western Target is extremely gratifying, and is another step towards confirming our thesis that mineralization extends on our claims well beyond the footprint of the Kay Mine Deposit,” said Marc Pais, CEO of Arizona Metals. “We have observed mineralization and alteration in this first hole that is similar to what we see in proximity to massive sulphide mineralization at the Kay Mine Deposit. With this first successful hole to guide our targeting, we are moving a second drill to the Western Target to accelerate our testing of the new mineralized zone.”
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About Arizona Metals Corp.
Arizona Metals Corp owns 100% of the Kay Mine Project 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.” (Fellows, M.L., 1982, Kay Mine massive sulfide deposit: Internal report prepared for Exxon Minerals Company, November 1982, 29 p.) The Kay Mine Deposit 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 Kay Mine Deposit was reported by Exxon Minerals in 1982, and the historic estimate at the Sugarloaf Peak Property was reported by Westworld Resources in 1983. The historic estimates 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 a current mineral resources, and Arizona Metals is not treating the historic estimates as a current mineral resources.
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NOTE TO INVESTORS: The latest news and updates relating to AZMCF are available in the company’s newsroom at https://ibn.fm/AZMCF
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