Toronto, February 15, 2023–(business wire)–Arizona Metals Corp. (TSX:AMC, OTCQX:AZMCF) (the “Company” or “Arizona Metals”) announced the completion of construction of a roadway to the first of two drill pads. Western targets of the company’s Kay Mine Project (pads W1 and W2 in Figure 1). These new pads will allow testing of the western target while also allowing drilling of additional simultaneous anomalies between the central and western targets. Central and western targets were previously defined based on agreement of structural, stratigraphic, geochemical and geophysical anomalies (via large-scale geological mapping, sampling, electromagnetic and gravitational surveys). ).
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Figure 1. Road construction to Pad W1 completed in February 2023. Drilling from Pad W1 to the western target (located 1,200 m west of the Kay Mine deposit) commenced on 14 February 2023. (Image: Business Wire)
CEO Mark Pais commented: “We are pleased to announce the completion of road construction to the Western Target Drilling Pad. We are also pleased to announce that the first hole to test this massive EM Geochemical Gravity Anomaly is now underway. Although the target is located just 1,200m west of Cay, the mine deposits, drilling that began this week will be the first to test the area in the property’s history.
The Company will continue filling and exploration drilling at the Ca Mine deposit while conducting detailed exploration of the Central and Western targets for the first time in the known asset’s history. ”
central target update
The central target graphite layer (Figs 2 and 3) is believed to be a structural repeat of the silicate mine layer. The graphite layers drilled to date at the central target have anomalous base metals throughout, indicating that they may host layered mineralization north of pad C1 and south of pad C2. Future planned drill holes will test these areas.
Arizona Metals will fully fund (September 30, 2022 $58 million in cash to date). This program will be used to test a number of parallel targets to the west of the silica mine deposit, as well as the potential for north and south extensions of the silica mine deposit.
About Arizona Metals Corporation
Arizona Metals Corp. owns 100% of the Kay Mine property in Yavapai County. The property is located on a combination of patents and his BLM claims totaling 1,300 acres that are not subject to royalty. A historic estimate by Exxon Minerals in 1982 stated, “A proven estimate of 6.4 million short tons with grades of 2.2% copper, 2.8 g/t gold, 3.03% zinc, and 55 g/t silver. reserves” have been reported. A historical estimate of the kay mine was reported in 1982 by Exxon Minerals.
*Historical estimates of Kay Mine have not been validated as a current mineral resource. The key assumptions, parameters, and methods used to develop the historical estimates were not reported, nor were the categories of resources used. Critical data compilation, re-drilling and data verification by qualified personnel may be required before historical estimates are validated and upgraded to current mineral resources. Qualified Persons have not done enough work to classify it as a Current Mineral Resource and Arizona Metals has not treated past estimates as a Current Mineral Resource.
The Kay mine is a steep VMS deposit defined from 60 m depth to at least 900 m. Supports expansion on strike and at depth.
The company also owns 100% of the Sugar Loaf Peak property in La Paz County on the 4,400-acre BLM claim. The sugar loaf is a heap-reach open-pit target with a historical estimate of “100 million tons containing 1.5 million ounces of gold” at a grade of 0.5 g/t (Dausinger, NE, 1983, Phase 1 Drill Program and Evaluation of Gold). -Silver Potential, Sugarloaf Peak Project, Quartzsite, Arizona: reports from Westworld Inc.)
A historic estimate for the Sugarloaf Peak property was reported by Westworld Resources in 1983. Historical estimates have not been validated as current Mineral Resources. The key assumptions, parameters, and methods used to develop the historical estimates were not reported, nor were the categories of resources used. Critical data compilation, re-drilling and data verification by qualified personnel may be required before historical estimates are validated and upgraded to current mineral resources. Qualified Persons have not done enough work to classify it as a Current Mineral Resource and Arizona Metals has not treated past estimates as a Current Mineral Resource.
The Qualified Person who reviewed and approved the Technical Disclosure for this release is David Smith of CPG.
This press release contains statements that constitute “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements other than statements of historical fact are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Statements discussing predictions, expectations, beliefs, plans, forecasts, objectives, assumptions, future events, or performance (phrases such as “expect,” “do not expect,” “expect,” “predict,” etc. are always or “does not predict”, “planned”, “budgeted”, “intended”, “forecast”, “estimate”, “believe”, “intend”, or any such words or Variations of phrases or “could” or “could”, “could”, “could”, or “could” stating a particular action, event, or outcome may be forward-looking statements rather than statements of historical fact. Forward-looking statements contained in this press release include, but are not limited to, statements regarding drilling in and around the Western and Central Targets and the continuation and completion of our Phase II drilling program. not. In making the forward-looking statements contained in this press release, we make certain assumptions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that the expectations in the forward-looking statements will prove correct. Known and unknown risks, uncertainties and other factors that could cause 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: delay or failure to obtain required permits or regulatory approvals; General business, economic, competitive, political and social uncertainties. Readers should therefore not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, we make no forward-looking statements to reflect actual results as a result of new information, future events, changes in assumptions or changes in factors affecting such forward-looking statements. disclaims any intention, and assumes no obligation, to update or revise any statements relating to – Appearance description or otherwise.
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contact address
Mark Pais
Arizona Metals Corp. President and CEO
(416) 565-7689
mpais@arizonametalscorp.com
www.arizonametalscorp.com
https://twitter.com/ArizonaCorp
