Arizona Eagle Mining (TSX‑V:AZ) has completed the acquisition of three past‑producing ‘high‑grade’ silver mines to consolidate the Eagle Silver Project in Arizona, US.
The company acquired 62 acres (25 hectares) of patented land hosting the Arizona National, Lookout, and Silver Belt mines for an undisclosed sum.
The parcels sit 1km northeast of Arizona Eagle’s McCabe gold‑silver deposit and include an operating water well with extraction rights.
This acquisition extends the structural corridor of mineralisation northeast of McCabe by 50%, from 3km to 4.5km, and increases patented land ownership by 18% to 410 acres.
CEO Kevin Reid says the mines were ‘major sources of silver production’ in Arizona until the 1930s.
“These mines have been privately held by multiple parties and dormant for almost 100 years,” Reid notes.
“Surface sampling on the Eagle Silver property has returned grades up to 344 grams per tonne silver, with sampling of the Arizona National mine waste pile returning grades of up to 861g/t silver and 15.6g/t gold.”
The Arizona National mine comprises three shafts and seven levels to 150m depth. The deposit was mined intermittently between 1915 and 1931 with reported shipments of silver‑lead ore.
Recent testing of tailings adjacent to the shaft returned 861g/t silver (Ag), 2.90% zinc (Zn), 1.70% lead (Pb), and 0.20g/t gold.
The Lookout and Silver Belt mines were also historically significant producers. Historical grades at Silver Belt were reported up to 600g/t Ag, 3% Pb, and 4% Zn.
Arizona Eagle holds 100% of the Eagle Project in Yavapai County, Arizona, anchored by the past‑producing McCabe gold‑silver mine on 410 acres of private land.
The company completed a phase one drill program of seven holes in the first quarter, with results of five holes pending.
Arizona Eagle Mining recently completed sampling on the newly acquired parcels and plans a SkyTEM geophysical survey to test structural continuity between McCabe and the three silver mines.
Write to JC Villarba at Mining.com.au
Images: Arizona Eagle Mining
