Arizona Metals Corp (TSXV:AMC) has reported a series of “wide, high-grade” intersections from exploration drilling at its Kay Mine operation in Arizona, USA. The company has said that the results point to “significant” gold-zinc mineralization external to the historic resource.
Key results include:
- Hole 28:
- 54m @ 1.9% Cu, 2.9 g/t Au, 5.0% Zn, and 29 g/t Ag, from 585m (vertical depth), including:
- 11.4m @ 4.3 g/t Au, 9.3% Zn, 0.5% Cu and 32 g/t Ag, and
- 7.9m @ 4.4% Cu, 9.5 g/t Au, 10.3% Zn, and 93 g/t Ag, and
- 2.2m @ 16.1% Cu, 0.8 g/t Au, and 56 g/t Ag
- 54m @ 1.9% Cu, 2.9 g/t Au, 5.0% Zn, and 29 g/t Ag, from 585m (vertical depth), including:
- Hole 27:
- 31.4m @ 1.6% Cu, 0.2 g/t Au, 0.7% Zn and 9.0 g/t Ag from 670m (vertical depth), and
- 13m @ 2.9% Cu, 0.5 g/t Au, 0.2% Zn, and 8.4 g/t Ag from 688m (vertical depth)
- Branch Hole 27B:
- 97m @ 1.3% Cu, 1.6 g/t Au, 3.2% Zn, and 32 g/t Ag from 660m (vertical depth), including:
- 15m @ 5.0% Cu, 0.4 g/t Au, 0.4% Zn, and 19 g/t Ag, and
- 21m @ 4.6 g/t Au, 9.0% Zn, 0.9% Cu, and 82 g/t Ag
- 97m @ 1.3% Cu, 1.6 g/t Au, 3.2% Zn, and 32 g/t Ag from 660m (vertical depth), including:
- Branch Hole 27A:
- 103m @ 0.8% Cu, 1.1 g/t Au, 1.9% Zn, and 36 g/t Ag from 678m (vertical depth), including:
- 21m @ 3.2% Cu, 1.4 g/t Au, 1.3% Zn, and 19 g/t Ag, and
- 18m @ 0.7% Cu, 2.7 g/t Au, 4.7% Zn, and 92 g/t Ag
- 103m @ 0.8% Cu, 1.1 g/t Au, 1.9% Zn, and 36 g/t Ag from 678m (vertical depth), including:
Kay mine
Mined on a small scale since the 19th century, the 1,300 acre Kay Mine Property, situated in Yavapai County Arizona, is 100% owned by Arizona Metals Corp and is not subject to royalties.
Exploration carried out by Exxon Minerals in 1982 reported “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”, however the estimate has not been verified as a current mineral resource.
“With the recently completed financing of $21 million, the Company is fully-funded to complete the 75,000 metre Phase 2 expansion program”
Management comments
Arizona Metals CEO Marc Pais said: “The four drill holes released today validate and extend the new gold-rich zinc zone discovery, with broad intervals of mineralization in the discovery zone ranging from 54 m to 103 m, and true widths estimated at an average of 80%. Hole 27 demonstrates that mineralization extends at least 100 m deeper than reported by previous operators. Holes 27A and 27B have encountered excellent grades and thicknesses, as good or better than 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.”
“Today’s results have increased the vertical extent of the discovery zone (now defined from hole 21A to 27) to approximately 400 m. Drill holes are currently underway to test for further extensions by testing 200 m above hole 21A and also 200 m below hole 27. With the recently completed financing of $21 million, the Company is fully-funded to complete the 75,000 metre Phase 2 expansion program.”
Images: Arizona Metals Corp