Arizona Metals drills 4.2 g/t AuEq over 39 metres at Kay mine project, Arizona

Arizona Metals Corp. [AMC-TSXV; AZMCF-OTCQX] reported results of seven recently completed drill holes at its Kay mine project in Yavapai, county Arizona.

Drilling highlights included Hole KM-21-74 that intersected 39.0 metres of 4.2 g/t AuEq (gold equivalent) from a depth of 649 metres downhole, including higher-grade intervals of 7.2 metres grading 6.0 g/t AuEq and 9.8 metres grading 6.1 g/t AuEq. This hole demonstrates excellent continuity of mineralization in the 80-metre gap between holes 25 (78.6 metres grading 5.9 g/t AuEq) and 25B.

Hole KM-21-79 intersected 7.9 metres grading 4.0% CuEq (copper equivalent) from 682 metres. This is a step-out hole to the south, which extended mineralization about 60 metres south of hole KM-21-25B along the southern edge of the deposit. Mineralization is open to the south in this area.

Marc Pais, CEO, commented: “Drilling at the Kay Mine Project continues to intersect very large widths and high grades of massive sulphide mineralization. The holes released today demonstrate excellent continuity of mineralization in all directions, while also showing that mineralization is substantially thicker than suggested by our original modelling. Drilling has extended mineralization well into both the hanging-wall and foot-wall envelopes, which gives the potential to define a significant tonnage of mineralization. The large widths and high grades being encountered at Kay are extremely rare in the context of VMS deposits either in production or being explored globally.

“We have drilled approximately 70,000 meters at Kay to date, with each hole solidifying our opinion that this is one of the very few large precious-metals rich VMS deposits not yet mined, and more importantly, is potentially part of a much larger mineralized system that has yet to be explored.

“Road construction is well underway to reach drill locations that will test the Central Target, located 300 m west of the Kay Mine Deposit. Drilling at pads C1 and C2 is expected to commence in November 2022, and will comprise part of the planned 76,000-metre Phase 3 program. Permitting is also in progress for pads W1 and W2 to test the Western Target, also part of the Phase 3 program.

“The company is fast approaching an inflection point in our drilling strategy. Over the last two years we have focused on expanding the Kay Mine Deposit, which covers only 320 metres of strike. This represents only 3% of the 11,000 metres of prospectively mineralized geological contact horizon defined by extensive surface mapping, soil geochemistry, airborne and ground electromagnetic surveys, and gravity surveys. Completion of the Central Target drill road and pads, with drilling anticipated to commence in November, will mark a shift in focus from expanding Kay, to also aggressively drill-testing our claims to the west to discover new VMS deposits. The Phase 3 program will entail 76,000 metres of drilling at an anticipated cost of $27 million. Work will continue at the Kay Mine Deposit to define a resource, in conjunction with associated hydrological, rock geochemistry, metallurgical, and specific gravity studies, but we anticipate that over the next 18 months approximately 90 per cent of our budget will go towards exploration south, north, and west of the Kay Mine Deposit.”

The company has now completed 70,000 metres at the Kay Mine since inception of drilling. Arizona Metals is fully-funded to complete the remaining 19,000 metres planned for the Phase 2 program with the priority focus areas for upcoming drilling as well as an additional 76,000 metres in the upcoming Phase 3 program.

The Phase 3 drill program will test the numerous parallel targets heading west of Kay, as well as the possible northern and southern extensions of the Kay Deposit. The road toward the Central Target (located 300 metres west of the Kay Deposit) is underway, with drilling at the Central Target pads expected to start in November.

Permitting is in progress for drill pads at the Western Target (W1 and W2, located approximately 1,000 metres west of the Kay Deposit), with road construction anticipated to begin in Q4 2022 and drilling in Q1 2023.

The company received approval to graduate its listing to the Toronto Stock Exchange and the company’s common shares will begin trading on the TSX on October 13, 2022 and will be delisted from the TSXV upon commencement of trading on the TSX.

Arizona Metals 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.”

Arizona Metals 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.”

Arizona Metals 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.”