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Arizona Metals Corp’s Kay Mine Drilling Intersects 100.9 m at 2.5% CuEq, 61.4 m at 3.5 g/t AuEq, and 46.2 m at 3.9 g/t AuEq

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Arizona Metals Corp’s Kay Mine Drilling Intersects 100.9 m at 2.5% CuEq, 61.4 m at 3.5 g/t AuEq, and 46.2 m at 3.9 g/t AuEq

 

 

 

 

 

Arizona Metals Corp. (TSX-V:AMC) (OTCQX:AZMCF) is pleased to announce the results of seventeen recently completed drill holes at its Kay Mine project in Yavapai, County Arizona. An additional 11 holes are pending.

 

Marc Pais, CEO, commented “The drill results from the Kay Mine Project released today continue to demonstrate that the deposit is open for expansion in all directions, with numerous wide intervals of both high grade gold and copper-rich sulphide mineralization. Hole 57C, which hit 100.9 m at 2.5% CuEq, has extended the wide hinge zone about 30m north, where it is also open for further extension at depth.

 

We have drilled approximately 56,000 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. Drilling is currently underway to test the Central Target, located 300 metres west of Kay, and permitting is in progress for roads and pads to test the Western Target, located 1,000 metres west of Kay.

 

Drilling Highlights

 

(Equivalent grades include assumed metallurgical recoveries. See Table 1 for constituent elements, grades, metals prices and recovery assumptions used for AuEq g/t and CuEq % calculations.)

 

KM-22-57C

  • 100.9 m at 2.5% CuEq, incl. 8.5 m at 8.6% CuEq and also 5.3 m at 6.6% CuEq
  • This step-out hole to the north was drilled deep into the middle portion of the deposit, above the 42 series of holes.
  • A very thick intercept showing excellent continuity between holes 57B above, 42A below, and 57 to the south, and extending mineralization about 30 m north of hole 48.Mineralization is open to the north and at depth here.

 

KM-22-62, 62A, 62B, 62C

  • KM-22-62: 46.2 m at 3.9 g/t AuEq, incl. 1.8 m at 17.1 g/t AuEq and 6.8 m at 10.3 g/t AuEq
  • KM-22-62A: 61.4 m at 3.5 g/t AuEq, incl. 9.3 m at 6.7 g/t AuEq and 8.8 m at 5.3 g/t AuEq
  • KM-22-62B: 8.5 m at 2.3% CuEq and 17.6 m at 2.0% CuEq
  • KM-22-62C: 16.8 m at 1.7 g/t AuEq and 15.5 m at 2.7% CuEq (incl. 5.3 m at 5.0% CuEq)
  • This series of four holes filled in the broad 110 m by 170 m area in the south-central part of the deposit, between holes 24, 40, and 60 on the north and holes 9, 10, and 35 on the south. These holes show excellent continuity of thick mineralization in this area.

 

KM-22-63

  • 0.9 m at 4.8% CuEq
  • The deepest intercept in the deposit, about 160 m downdip of KM-21-42C. Although narrow, the intercept is relatively high in grade, suggesting additional potential at depth.

 

KM-22-64 through 69

  • Holes 64 through 69 tested the downward extension of the North zone drilled in the Phase 1 program, in the upper northern portions of the deposit. Although the pattern is not yet clear, several relatively thick intercepts in this area indicate the presence of one or more thickened fold hinges extending downward from hole 13, to be further delineated with additional drilling.
  • KM-21-64: 8.1 m at 2.0% CuEq. This hole showed significant thicknesses of mineralization in the 130 m gap between holes 29 and 34.
  • KM-21-66: 30.5 m at 1.0% CuEq. This hole demonstrated good continuity between holes 12 to the north and 21A to the south

 

KM-22-71, 71A

  • These two holes stepped out north in the central part of the deposit, extending considerable thicknesses of mineralization in this direction.
  • KM-22-71: 17.3 m at 0.7% CuEq and 10.8 m at 3.3% CuEq (incl. 3.7 m at 6.6% CuEq)

 

KM-22-72

  • 22.6 m at 1.0% CuEq (incl. 2.0 m at 2.8% CuEq)

 

Fills in mineralization to the south of hole 40 and north of hole 9, demonstrating good continuity in the southern parts of the deposit just below midway vertically.

 

Kay Mine Phase 2 Drill Program Update

 

With the assayed holes released today, the Company has completed a total of 56,000 meters at the Kay Mine since inception of drilling. The Company is fully-funded to complete the remaining 19,000 meters planned for the Phase 2 program with the priority focus areas for upcoming drilling (shown in Figure 5 below), as well as an additional 76,000 meters in the upcoming Phase 3 program which will be used to test the numerous parallel targets heading West of Kay and the Northern and Southern Extensions of the Kay Deposit.

 

Table 1. Results of Phase 2 Drill Program at Kay Mine, Yavapai County, Arizona announced in this news release.

 

Analyzed Grade Analyzed Metal Equivalent Metal Equivalent Vertical
Depth
Below
Surface m
Hole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb % Cu eq % Au eq g/t Zn eq% Cu eq % Au eq g/t Zn eq%
KM-22-57C 784.3 885.1 100.9 1.24 1.54 1.56 25.8 0.14 3.02 4.95 7.85 2.54 4.16 6.61 771
including 829.4 837.9 8.5 1.60 7.71 9.04 100.9 0.35 10.66 17.47 27.72 8.62 14.14 22.43
including 852.2 857.6 5.3 6.81 0.10 0.09 23.3 0.02 7.10 11.63 18.46 6.55 10.73 17.03
KM-22-59A 903.7 905.9 2.1 0.61 0.10 0.65 10.3 0.10 1.02 1.68 2.66 0.92 1.50 2.38 900
KM-22-61 560.8 580.0 19.2 0.72 0.20 0.69 7.0 0.06 1.18 1.93 3.07 1.05 1.73 2.74 557
KM-22-62 636.6 682.8 46.2 0.22 1.47 3.22 53.5 0.47 2.89 4.73 7.51 2.37 3.89 6.18 600
including 644.4 646.2 1.8 0.89 4.36 19.26 133.0 0.77 12.18 19.96 31.68 10.41 17.07 27.09
including 650.7 657.5 6.8 0.34 3.21 9.59 145.2 1.79 7.53 12.34 19.59 6.26 10.26 16.29
including 663.2 665.5 2.3 0.53 8.66 7.82 181.6 1.55 10.60 17.38 27.58 8.30 13.61 21.60
KM-22-62 704.1 706.2 2.1 0.36 2.88 3.33 61.5 0.46 3.99 6.53 10.37 3.18 5.22 8.28 650
KM-22-62A 582.2 643.6 61.4 0.31 1.27 2.65 40.8 0.58 2.55 4.18 6.64 2.11 3.47 5.50 530
including 593.1 602.4 9.3 1.15 2.29 4.37 52.4 0.91 4.85 7.94 12.60 4.08 6.68 10.60
including 608.9 617.8 8.8 0.20 1.79 4.26 91.2 1.15 3.90 6.40 10.15 3.20 5.25 8.33
including 627.7 630.9 3.2 0.41 7.10 15.01 180.0 2.77 12.56 20.58 32.66 10.31 16.89 26.81
KM-22-62A 653.8 660.5 6.7 0.26 1.69 2.58 90.4 0.75 3.17 5.19 8.24 2.54 4.17 6.61 564
KM-22-62B 590.9 599.4 8.5 1.58 0.52 1.13 22.6 0.28 2.57 4.21 6.68 2.27 3.72 5.91 508
KM-22-62B 606.2 629.0 22.7 0.21 1.21 2.23 24.0 0.29 2.06 3.38 5.37 1.70 2.78 4.42
including 623.8 629.0 5.2 0.21 3.61 6.52 56.6 0.81 5.55 9.09 14.43 4.53 7.42 11.78
KM-22-62C 613.6 630.3 16.8 0.57 0.40 0.48 20.3 0.11 1.18 1.93 3.07 1.01 1.65 2.62 557
KM-22-62C 638.3 653.8 15.5 0.25 2.34 3.34 34.7 0.34 3.31 5.43 8.61 2.68 4.39 6.97
including 648.5 653.8 5.3 0.32 4.21 6.57 74.7 0.73 6.18 10.12 16.06 5.00 8.19 13.00
KM-22-63 982.2 983.1 0.9 3.41 1.23 2.19 47.0 0.24 5.43 8.90 14.12 4.79 7.85 12.45 980
KM-22-64 317.4 325.5 8.1 1.13 0.09 2.30 14.3 0.08 2.20 3.60 5.72 2.00 3.27 5.20 220
KM-22-65 334.4 337.1 2.7 1.39 0.06 0.34 7.0 0.03 1.62 2.65 4.21 1.48 2.43 3.86 251
KM-22-66 384.4 414.8 30.5 1.00 0.11 0.09 3.0 0.01 1.13 1.85 2.94 1.03 1.69 2.68
KM-22-67 340.2 345.9 5.8 0.38 0.06 0.55 4.4 0.09 0.69 1.12 1.78 0.62 1.02 1.61 264
KM-22-68 407.2 408.7 1.5 1.71 0.49 0.08 8.4 0.06 2.11 3.46 5.49 1.88 3.08 4.89 358
KM-22-68 435.9 446.5 10.7 0.54 0.18 0.29 4.3 0.04 0.80 1.31 2.08 0.71 1.17 1.85 377
KM-22-69 342.0 343.6 1.6 1.19 0.87 0.96 25.7 0.06 2.30 3.78 5.99 1.97 3.24 5.14 260
KM-22-71 631.2 648.5 17.3 0.53 0.15 0.21 9.6 0.01 0.78 1.28 2.02 0.69 1.12 1.78 590
KM-22-71 657.8 668.6 10.8 3.18 0.35 0.16 22.6 0.01 3.64 5.96 9.46 3.29 5.40 8.57 611
including 657.8 661.4 3.7 6.75 0.28 0.09 30.9 0.02 7.20 11.81 18.74 6.61 10.83 17.19
KM-22-71A 554.3 561.4 7.2 0.39 0.22 0.64 10.3 0.22 0.90 1.47 2.34 0.78 1.29 2.04 506
KM-22-72 637.6 660.2 22.6 0.34 0.38 1.15 12.9 0.27 1.17 1.92 3.05 1.01 1.66 2.63 596
KM-22-72 669.3 671.3 2.0 0.17 2.15 4.15 23.1 0.56 3.38 5.55 8.80 2.79 4.57 7.25

The true width of mineralization is estimated to be 50% to 99% of reported core width, with an average of 76%. (2) Assumptions used in USD for the copper and gold Metal Equivalent calculations were metal prices of $4.63/lb Copper, $1937/oz Gold, $25/oz Silver, $1.78/lb Zinc, and $1.02/lb Pb. Assumed metal recoveries (rec.), based on a preliminary review of historic data by SRK and ProcessIQ1, were 93% for copper, 92% for zinc, 90% for lead, 72% silver, and 70% for gold. The following equation was used to calculate copper equivalence: CuEq = Copper (%) (93% rec.) + (Gold (g/t) x 0.61)(72% rec.) + (Silver (g/t) x 0.0079)(72% rec.) + (Zinc (%) x 0.3844)(93% rec.) +(Lead (%) x 0.2203)(93% rec.). The following equation was used to calculate gold equivalence: AuEq = Gold (g/t)(72% rec.) + (Copper (%) x 1.638)(93% rec.) + (Silver (g/t) x 0.01291)(72% rec.) + (Zinc (%) x 0.6299)(93% rec.) +(Lead (%) x 0.3609)(93% rec.). Analyzed Metal Equivalent calculations are reported for illustrative purposes only. The metal chosen for reporting on an equivalent basis is the one that contributes the most dollar value after accounting for assumed recoveries.

 

Table 2. Full results of Phase 2 Drill Program at Kay Mine, Yavapai County, Arizona.

 

Analyzed Grade Analyzed Metal Equivalent Metal Equivalent Vertical
Depth
Below
Surface m
Hole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb % Cu eq % Au eq g/t Zn eq% Cu eq % Au eq g/t Zn eq%
KM-21-17 429.5 449.9 20.4 1.81 1.10 1.20 21.2 0.17 3.14 5.15 8.18 2.73 4.47 7.10 300
including 429.5 434.0 4.6 4.61 1.73 1.91 29.1 0.24 6.68 10.96 17.39 5.92 9.70 15.39
including 432.7 434.0 1.4 0.52 6.81 8.29 40.0 1.10 8.41 13.79 21.89 6.76 11.09 17.60
KM-21-17 504.4 505.4 0.9 1.19 4.73 0.05 9.0 0.00 4.17 6.83 10.84 3.20 5.24 8.31 356
KM-21-18 404.3 429.8 25.5 0.35 0.86 1.71 15.8 0.23 1.71 2.80 4.44 1.43 2.35 3.72 255
including 408.6 410.6 2.0 0.50 2.22 7.25 64.4 0.82 5.33 8.74 13.87 4.51 7.39 11.72
including 424.9 427.3 2.4 1.60 2.59 3.16 18.0 0.52 4.66 7.64 12.12 3.92 6.43 10.21
KM-21-18A 391.4 423.8 32.5 1.09 0.62 1.25 17.7 0.15 2.13 3.48 5.53 1.85 3.04 4.82 233
including 393.3 395.8 2.4 9.57 2.83 2.72 40.9 0.28 12.73 20.87 33.12 11.36 18.63 29.56
KM-21-19 377.8 378.3 0.5 3.39 5.59 6.83 128.0 0.63 10.58 17.34 27.52 8.81 14.44 22.92 337
KM-21-20 442.7 443.6 0.9 2.56 0.52 3.52 18.5 0.14 4.40 7.22 11.45 3.98 6.52 10.34 362
KM-21-20 456.0 458.1 2.1 1.49 0.35 0.14 6.0 0.04 1.81 2.97 4.71 1.63 2.66 4.23 370
KM-21-21 452.6 495.5 42.8 0.80 0.78 1.52 15.1 0.15 2.01 3.29 5.22 1.73 2.83 4.49 362
including 488.7 493.5 4.8 0.26 2.50 6.13 27.6 0.54 4.48 7.34 11.65 3.74 6.13 9.73
KM-21-21A 422.0 431.4 9.4 1.17 0.57 2.25 8.6 0.36 2.53 4.15 6.58 2.25 3.68 5.85 362
KM-21-21A 439.1 502.1 63.0 0.45 1.28 3.14 58.8 0.77 3.08 5.04 8.00 2.57 4.21 6.67 366
including 465.0 481.9 16.9 0.52 2.45 4.05 80.9 0.99 4.43 7.26 11.53 3.62 5.94 9.42
KM-21-23 394.4 401.4 7.0 0.36 0.93 1.94 13.5 1.17 2.05 3.35 5.32 1.73 2.84 4.51 313
KM-21-23 438.6 459.2 20.6 0.17 1.18 1.93 27.8 0.37 1.94 3.17 5.03 1.58 2.59 4.11 336
KM-21-24 501.2 592.1 90.8 0.45 1.33 3.42 44.6 0.41 3.02 4.95 7.86 2.53 4.15 6.59 470
including 501.2 521.7 20.4 1.34 1.70 6.35 113.1 0.66 5.86 9.60 15.24 4.99 8.18 12.99
including 520.9 521.7 0.8 1.75 16.50 9.55 574.0 1.22 20.31 33.29 52.82 15.57 25.52 40.50
including 575.9 592.1 16.2 0.16 2.50 6.00 44.4 0.79 4.51 7.40 11.74 3.75 6.14 9.74
including 588.7 590.4 1.7 0.47 9.98 23.70 18.2 0.13 15.84 25.96 41.20 13.21 21.65 34.36
KM-21-25 662.6 741.3 78.6 1.41 2.33 2.79 43.4 0.35 4.33 7.10 11.26 3.61 5.92 9.40 638
including 663.2 672.7 9.4 8.06 1.84 1.31 92.3 0.15 10.45 17.13 27.18 9.30 15.24 24.19
including 693.0 703.9 11.0 0.68 6.28 10.40 99.7 1.17 9.56 15.66 24.86 7.79 12.77 20.27
KM-21-25A 654.7 719.9 65.2 1.04 1.94 2.15 18.9 0.18 3.25 5.32 8.44 2.71 4.43 7.04 624
including 655.5 662.8 7.3 3.66 2.09 1.85 30.2 0.21 5.93 9.73 15.44 5.17 8.47 13.44
including 710.8 716.9 6.1 2.72 7.95 3.73 37.4 0.31 9.37 15.36 24.38 7.52 12.33 19.56
KM-21-25B 647.2 648.9 1.7 0.13 0.58 2.41 62.1 0.64 2.04 3.35 5.31 1.70 2.79 4.42 610
KM-21-25B 655.6 659.9 4.3 0.93 0.91 0.91 25.3 0.19 2.07 3.40 5.40 1.75 2.88 4.56 615
KM-21-25B 666.0 667.8 1.8 0.60 0.72 2.98 33.5 0.43 2.55 4.18 6.63 2.20 3.61 5.72 620
KM-21-25B 673.3 674.7 1.4 0.08 2.10 2.39 23.0 0.33 2.53 4.15 6.58 2.01 3.29 5.23 628
KM-21-25B 681.2 682.6 1.4 0.09 1.54 2.98 11.0 0.35 2.34 3.83 6.08 1.93 3.16 5.01 631
KM-21-26 506.7 582.8 76.0 0.79 1.61 4.23 32.7 0.54 3.78 6.19 9.83 3.21 5.27 8.36 480
including 511.1 526.1 14.9 0.73 1.78 9.68 43.3 0.77 6.05 9.92 15.74 5.26 8.63 13.69
including 573.8 582.8 9.0 4.02 6.06 3.32 18.2 0.19 9.18 15.04 23.87 7.64 12.52 19.87
KM-21-27 706.8 738.2 31.4 1.58 0.16 0.69 9.0 0.06 2.03 3.33 5.28 1.85 3.03 4.80 700
KM-21-27 764.4 777.4 13.0 2.85 0.48 0.17 8.5 0.02 3.29 5.39 8.55 2.97 4.87 7.73 775
KM-21-27A 666.3 769.4 103.1 0.79 1.06 1.90 35.8 0.42 2.54 4.17 6.62 2.15 3.52 5.59 678
including 666.3 687.0 20.7 3.21 1.39 1.26 19.4 0.20 4.74 7.77 12.33 4.18 6.84 10.86
including 706.4 724.6 18.3 0.69 2.69 4.70 92.2 1.21 5.13 8.41 13.35 4.22 6.91 10.97
including 752.9 763.8 11.0 0.07 1.07 4.68 95.3 0.98 3.49 5.73 9.09 2.92 4.78 7.59
KM-21-27B 665.8 762.9 97.1 1.31 1.62 3.21 31.7 0.40 3.88 6.35 10.08 3.31 5.42 8.61 660
including 702.0 723.0 21.0 0.87 4.56 9.03 81.5 1.10 8.01 13.13 20.83 6.63 10.87 17.25
including 723.0 738.2 15.2 4.97 0.36 0.42 18.7 0.05 5.51 9.03 14.33 5.04 8.26 13.11
KM-21-28 640.7 694.9 54.3 1.87 2.85 5.03 29.4 0.70 5.93 9.72 15.43 5.04 8.26 13.12 584
including 660.2 671.6 11.4 0.54 4.29 9.30 32.2 1.17 7.24 11.87 18.84 6.04 9.89 15.70
including 681.1 689.0 7.9 4.39 9.47 10.34 93.1 2.41 15.42 25.27 40.10 12.80 20.98 33.29
including 690.4 692.6 2.2 16.06 0.82 0.06 55.8 0.01 17.02 27.90 44.28 15.62 25.61 40.64
KM-21-29 393.0 393.8 0.8 0.43 1.54 4.92 9.0 0.21 3.38 5.54 8.79 2.89 4.74 7.53 235
KM-21-30 264.9 267.9 3.0 1.18 0.02 0.01 1.5 0.00 1.21 1.98 3.15 1.12 1.83 2.91 240
KM-21-32 316.4 320.0 3.7 1.84 1.29 2.47 38.5 0.30 3.95 6.47 10.27 3.41 5.60 8.88 185
KM-21-32 342.9 345.9 3.0 0.67 0.52 2.70 13.0 0.15 2.16 3.54 5.62 1.90 3.12 4.95 190
KM-21-32 358.9 368.4 9.4 0.60 1.47 1.99 45.7 0.35 2.70 4.42 7.01 2.22 3.63 5.76 195
KM-21-33 171.3 172.5 1.2 3.79 0.45 0.21 63.0 0.17 4.69 7.68 12.19 4.19 6.86 10.89 150
KM-21-34 299.3 303.9 4.6 0.29 1.69 0.94 46.3 0.26 2.12 3.47 5.50 1.65 2.70 4.29 205
KM-21-34 309.7 310.9 1.2 2.27 0.56 1.55 19.9 0.08 3.38 5.54 8.80 3.03 4.96 7.87 210
KM-21-35 609.6 615.1 5.5 0.92 1.26 1.71 57.7 0.02 2.80 4.60 7.29 2.33 3.82 6.06 550
including 609.6 613.0 3.4 1.39 1.69 1.98 54.0 0.01 3.61 5.92 9.40 3.03 4.96 7.87
KM-21-38 406.5 407.8 1.4 0.60 1.08 9.41 4.0 0.25 4.96 8.13 12.90 4.42 7.24 11.49 345
KM-21-38 467.4 476.1 8.7 0.09 1.73 3.87 61.1 1.22 3.38 5.55 8.80 2.78 4.56 7.23 370
including 470.0 475.2 5.2 0.12 2.44 5.68 87.5 1.79 4.88 8.01 12.71 4.02 6.59 10.46
KM-21-40 589.8 613.8 24.0 4.98 0.61 0.98 23.4 0.45 6.01 9.86 15.65 5.46 8.95 14.21 550
including 589.8 597.9 8.1 7.63 0.43 0.39 27.1 0.17 8.30 13.60 21.58 7.61 12.47 19.78
KM-21-40 627.9 680.8 52.9 0.47 2.91 3.40 35.7 0.40 3.93 6.44 10.22 3.17 5.20 8.25 590
including 641.1 648.3 7.2 1.15 7.66 8.27 88.5 0.92 9.90 16.23 25.76 7.95 13.03 20.68
including 670.3 674.1 3.8 1.53 10.89 9.47 24.6 0.61 12.15 19.91 31.59 9.69 15.88 25.19
KM-21-41 462.6 559.3 96.7 1.04 1.54 2.66 40.8 0.35 3.41 5.59 8.86 2.87 4.71 7.47 420
including 503.2 514.2 11.0 0.99 5.34 8.17 106.3 1.63 8.59 14.08 22.35 7.02 11.51 18.26
including 546.7 558.1 11.4 5.86 5.83 3.24 185.4 0.04 12.14 19.90 31.58 10.15 16.64 26.40
including 553.1 556.9 3.8 7.11 9.55 5.70 505.8 0.09 19.16 31.41 49.84 15.62 25.59 40.62
KM-21-42 803.5 810.3 6.9 0.05 1.60 1.58 64.3 0.35 2.22 3.64 5.78 1.73 2.83 4.49 800
KM-21-42 835.5 839.7 4.3 0.63 2.46 2.15 21.7 0.21 3.18 5.20 8.26 2.56 4.20 6.67 816
KM-21-42 853.7 854.7 0.9 0.11 1.63 2.88 28.0 0.40 2.52 4.13 6.55 2.05 3.37 5.34 846
KM-21-42A 786.7 787.6 0.9 0.03 3.61 2.18 17.0 0.70 3.36 5.51 8.74 2.58 4.22 6.70 781
KM-21-42A 805.4 811.1 5.6 6.17 0.92 0.18 39.5 0.01 7.12 11.68 18.53 6.43 10.54 16.72 802
including 807.0 808.9 2.0 10.72 0.87 0.11 61.8 0.00 11.79 19.32 30.66 10.74 17.60 27.93
KM-21-42A 840.9 877.2 36.3 0.55 0.62 1.35 10.7 0.13 1.56 2.56 4.06 1.34 2.20 3.49 848
KM-21-42B 808.0 811.2 3.2 0.29 2.06 5.77 63.0 0.94 4.47 7.33 11.63 3.74 6.13 9.72 790
KM-21-42B 816.9 819.9 3.0 2.31 0.66 1.23 16.0 0.15 3.35 5.49 8.71 2.99 4.90 7.77 810
KM-21-42B 835.5 840.8 5.3 0.02 0.73 2.93 13.5 0.24 1.75 2.87 4.56 1.49 2.45 3.88 828
KM-21-42C 849.2 877.4 28.2 3.81 0.47 0.29 12.5 0.09 4.32 7.08 11.24 3.93 6.44 10.23 850
including 849.2 854.7 5.5 14.57 0.66 0.16 37.5 0.03 15.34 25.14 39.89 14.11 23.12 36.70
including 863.8 869.4 5.6 2.29 1.17 0.59 13.1 0.25 3.39 5.55 8.81 2.96 4.85 7.70
including 874.8 877.4 2.6 2.83 0.26 0.03 7.2 0.01 3.06 5.02 7.96 2.80 4.59 7.28
KM-21-42C 886.1 889.1 3.0 0.87 0.88 0.50 5.2 0.05 1.65 2.71 4.30 1.40 2.30 3.65 855
KM-21-43 583.7 607.1 23.4 0.39 0.25 3.68 3.1 0.02 1.98 3.25 5.15 1.79 2.93 4.65 586
including 598.9 599.8 0.9 0.50 0.18 11.30 3.0 0.03 4.99 8.17 12.97 4.56 7.48 11.87
KM-21-43 616.0 633.1 17.1 1.81 0.17 0.14 8.2 0.03 2.04 3.34 5.31 1.86 3.05 4.84 616
including 631.2 633.1 1.8 6.30 0.61 0.09 25.0 0.01 6.91 11.32 17.97 6.30 10.32 16.38
KM-21-44 353.4 377.3 23.9 0.34 0.97 2.52 18.3 0.33 2.12 3.47 5.50 1.79 2.93 4.65 185
including 354.0 356.6 2.6 0.23 2.14 7.97 38.9 0.68 5.06 8.29 13.15 4.30 7.05 11.19
KM-21-45 459.6 463.0 3.4 0.32 0.62 6.63 82.3 0.87 4.10 6.71 10.65 3.55 5.82 9.24 459
including 461.2 462.1 0.9 0.15 1.23 16.90 182.0 2.50 9.39 15.38 24.41 8.17 13.39 21.26
KM-21-46 350.4 362.9 12.4 0.66 2.61 3.69 40.6 0.39 4.08 6.69 10.61 3.34 5.48 8.70 157
including 350.4 353.3 2.8 0.77 5.19 6.83 107.0 0.72 7.58 12.42 19.70 6.11 10.01 15.88

 

 

Table 2 Continued:

 

Analyzed Grade Analyzed Metal Equivalent Metal Equivalent Vertical
Depth
Below
Surface m
Hole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb % Cu eq % Au eq g/t Zn eq% Cu eq % Au eq g/t Zn eq%
KM-21-47 433.9 435.9 2.0 0.16 1.88 9.28 138.7 2.17 6.46 10.58 16.79 5.46 8.95 14.20 432
KM-21-48 605.2 610.7 5.5 3.54 0.45 0.19 12.7 0.05 4.00 6.55 10.40 3.63 5.95 9.45 606
KM-21-48 630.3 634.6 4.3 1.11 0.34 0.69 12.7 0.11 1.71 2.80 4.45 1.52 2.49 3.95 631
KM-21-48 685.5 696.8 11.3 0.98 0.05 0.06 4.2 0.02 1.07 1.75 2.77 0.98 1.60 2.54 686
KM-21-48 715.1 718.4 3.4 2.08 0.04 0.03 4.3 0.01 2.15 3.52 5.59 1.98 3.25 5.16 716
KM-21-48 723.0 724.5 1.5 1.54 0.07 0.06 4.0 0.02 1.64 2.68 4.26 1.51 2.47 3.92 724
KM-21-48 735.5 743.6 8.1 0.34 0.60 1.52 9.2 0.07 1.38 2.26 3.59 1.18 1.93 3.06 737
KM-21-48A 538.0 539.5 1.5 0.31 1.17 2.79 29.0 0.52 2.44 4.01 6.36 2.05 3.35 5.32 538
KM-21-48A 687.9 696.9 9.0 1.64 0.36 0.79 7.9 0.01 2.23 3.66 5.80 2.01 3.29 5.22 688
including 687.9 688.8 0.9 0.15 1.53 5.35 5.0 0.01 3.18 5.21 8.27 2.71 4.45 7.06
including 694.9 696.0 1.1 8.36 0.80 0.10 40.0 0.03 9.21 15.10 23.96 8.39 13.75 21.81
KM-21-50 489.5 501.9 12.3 0.98 2.30 6.36 111.9 1.24 5.99 9.81 15.57 5.02 8.24 13.07 481
including 489.5 493.0 3.4 2.64 3.59 9.49 207.7 1.65 10.49 17.20 27.30 8.86 14.52 23.05
KM-21-50 509.0 562.1 53.1 0.44 0.84 1.28 35.8 0.27 1.79 2.93 4.65 1.48 2.42 3.84 501
including 538.1 545.6 7.5 0.28 1.94 2.62 112.8 0.82 3.55 5.81 9.23 2.82 4.63 7.34
KM-21-51B 860.5 870.2 9.8 3.00 0.13 0.10 6.5 0.05 3.18 5.21 8.27 2.93 4.80 7.62
including 864.7 865.6 0.9 8.70 0.09 0.09 16.0 0.10 8.93 14.64 23.24 8.27 13.55 21.51
KM-21-51B 881.5 884.2 2.7 0.52 0.22 0.62 28.3 0.14 1.15 1.88 2.98 0.99 1.61 2.56
KM-21-51B 893.7 903.4 9.8 1.51 0.10 0.06 4.4 0.01 1.63 2.67 4.24 1.49 2.45 3.89
including 898.2 899.3 1.1 6.56 0.11 0.10 15.0 0.04 6.79 11.13 17.67 6.28 10.29 16.32
KM-21-52 751.5 758.2 6.7 1.18 0.66 0.98 18.2 0.14 2.14 3.50 5.56 1.86 3.05 4.84 743
KM-21-52 787.5 789.6 2.1 0.04 1.27 1.68 28.5 0.22 1.73 2.84 4.50 1.38 2.25 3.58 777
KM-21-52A 763.7 793.1 29.4 0.25 1.12 1.36 51.6 0.47 1.97 3.22 5.11 1.58 2.58 4.10 750
including 763.7 764.9 1.2 0.38 3.01 8.69 132.0 1.68 6.97 11.43 18.13 5.80 9.50 15.08
including 771.8 774.5 2.7 1.39 2.46 4.59 116.4 1.82 5.98 9.81 15.56 5.00 8.19 12.99
including 781.5 787.6 6.1 0.31 2.63 1.64 119.5 0.65 3.64 5.97 9.47 2.81 4.60 7.30
KM-21-52A 801.3 802.5 1.2 0.42 0.90 1.29 82.0 0.17 2.15 3.52 5.59 1.73 2.83 4.50 789
KM-21-52A 818.8 820.2 1.4 0.39 1.62 1.29 188.0 0.36 3.45 5.65 8.96 2.66 4.35 6.91 805
KM-21-52A 831.2 852.4 21.2 0.05 0.91 0.80 27.2 0.29 1.19 1.95 3.10 0.93 1.52 2.42 817
including 837.0 841.6 4.6 0.03 2.16 1.34 69.0 0.79 2.59 4.24 6.73 1.98 3.24 5.14
KM-21-55 302.7 308.5 5.8 0.66 0.44 0.53 15.8 0.10 1.28 2.10 3.33 1.10 1.80 2.86 153
KM-21-56 434.6 435.9 1.2 1.53 0.39 0.13 19.0 0.01 1.97 3.23 5.12 1.75 2.86 4.54 403
KM-21-56 499.1 501.5 2.4 1.53 0.18 7.15 6.4 0.02 4.45 7.29 11.57 4.07 6.68 10.59 456
including 499.1 500.2 1.1 1.97 0.31 14.55 7.0 0.02 7.81 12.81 20.33 7.16 11.73 18.61
KM-21-56 524.0 525.0 1.1 0.97 0.12 0.07 5.0 0.03 1.12 1.83 2.91 1.01 1.66 2.64 480
KM-21-56 558.2 563.6 5.3 0.82 0.99 3.09 27.0 0.06 2.84 4.65 7.38 2.44 4.00 6.35 490
KM-21-56 577.0 578.2 1.2 0.02 1.66 0.47 5.0 0.02 1.26 2.06 3.27 0.92 1.52 2.41 500
KM-21-57 776.5 784.3 7.8 0.26 2.30 2.59 57.9 0.68 3.27 5.36 8.51 2.61 4.28 6.79
including 777.8 778.8 0.9 0.25 6.62 11.45 105.0 3.33 10.26 16.81 26.68 8.37 13.72 21.77
KM-21-57 819.9 835.5 15.5 1.29 2.17 2.58 90.9 0.27 4.39 7.19 11.41 3.61 5.92 9.40 780
including 824.0 827.5 3.5 3.69 4.67 3.81 228.5 0.29 9.88 16.19 25.69 8.13 13.33 21.15
KM-21-57 852.5 853.6 1.1 0.30 3.10 2.33 92.0 0.57 3.94 6.46 10.25 3.06 5.02 7.97 820
KM-21-57A 728.6 735.5 6.9 2.49 1.04 0.57 6.6 0.02 3.40 5.57 8.84 3.00 4.92 7.81 719
KM-21-57A 759.6 821.4 61.9 1.08 2.60 3.73 32.0 0.50 4.46 7.31 11.60 3.71 6.08 9.65 745
including 762.3 783.3 21.0 0.42 6.78 9.49 67.9 0.49 8.84 14.50 23.00 7.12 11.67 18.52
KM-22-57B 736.7 862.0 125.3 2.40 0.90 1.29 18.7 0.13 3.62 5.93 9.42 3.20 5.25 8.33 728
including 739.7 741.6 1.8 9.42 2.37 0.32 8.5 0.03 11.06 18.12 28.76 9.93 16.28 25.84
including 798.3 805.6 7.3 6.35 0.81 3.76 19.5 0.14 8.47 13.89 22.04 7.72 12.65 20.08
KM-22-57C 784.3 885.1 100.9 1.24 1.54 1.56 25.8 0.14 3.02 4.95 7.85 2.54 4.16 6.61 771
including 829.4 837.9 8.5 1.60 7.71 9.04 100.9 0.35 10.66 17.47 27.72 8.62 14.14 22.43
including 852.2 857.6 5.3 6.81 0.10 0.09 23.3 0.02 7.10 11.63 18.46 6.55 10.73 17.03
KM-21-58 577.0 586.4 9.4 0.43 1.28 2.48 41.3 0.47 2.59 4.25 6.74 2.15 3.52 5.59 560
KM-21-58 614.2 682.6 68.4 1.30 3.42 3.85 47.2 0.50 5.35 8.78 13.93 4.40 7.22 11.45 591
including 640.7 648.0 7.3 0.79 4.34 10.20 51.9 0.56 7.90 12.94 20.54 6.60 10.83 17.18
including 668.1 678.6 10.5 5.30 12.19 6.67 194.7 1.88 17.26 28.30 44.90 13.98 22.92 36.37
including 668.1 669.6 1.5 2.55 43.20 7.76 856.0 0.80 38.86 63.69 101.08 28.62 46.90 74.43
KM-21-58A 569.4 641.8 72.5 1.12 1.00 2.84 18.1 0.33 3.03 4.97 7.89 2.64 4.32 6.86 565
including 584.3 591.9 7.6 0.29 1.19 6.23 4.4 0.40 3.53 5.79 9.19 3.09 5.06 8.02
including 602.3 613.3 11.0 4.02 0.11 1.38 12.6 0.40 4.80 7.88 12.50 4.42 7.25 11.51
including 630.3 630.9 0.7 1.14 6.35 11.20 356.0 0.65 12.28 20.13 31.95 9.89 16.21 25.73
including 633.5 641.8 8.3 1.53 2.33 5.12 26.5 0.36 5.20 8.53 13.53 4.45 7.29 11.56
KM-21-58A 665.5 676.0 10.5 0.12 2.90 3.88 167.5 1.92 5.13 8.41 13.34 4.06 6.65 10.55 640
including 672.5 676.0 3.5 0.12 6.89 6.40 332.0 3.81 10.26 16.82 26.70 7.98 13.07 20.74
including 673.6 674.5 0.9 0.28 19.65 12.65 844.0 10.20 26.07 42.74 67.82 19.97 32.73 51.94
KM-21-58B 543.2 627.6 84.4 1.05 2.38 3.44 23.8 0.55 4.13 6.77 10.75 3.45 5.66 8.98 519
including 571.2 582.5 11.3 0.51 5.27 9.96 35.4 1.52 8.18 13.40 21.27 6.76 11.08 17.58
including 605.3 622.7 17.4 3.20 6.19 4.18 40.9 0.22 8.96 14.69 23.31 7.38 12.09 19.19
including 609.6 612.0 2.4 1.45 17.73 7.97 82.5 0.44 16.08 26.35 41.81 12.29 20.15 31.97
KM-22-59A 903.7 905.9 2.1 0.61 0.10 0.65 10.3 0.10 1.02 1.68 2.66 0.92 1.50 2.38 900
KM-22-60 554.7 648.0 93.3 1.36 5.65 3.25 32.6 0.34 6.39 10.47 16.62 5.08 8.32 13.21
including 591.6 597.7 6.1 0.58 5.62 12.00 56.3 1.40 9.37 15.37 24.38 7.78 12.75 20.24
including 627.0 644.5 17.5 5.22 25.37 4.71 100.6 0.59 23.44 38.42 60.98 18.05 29.59 46.95
including 634.3 635.5 1.2 5.63 273.00 0.18 715.0 0.28 177.99 291.74 462.98 126.03 206.57 327.82
KM-22-61 560.8 580.0 19.2 0.72 0.20 0.69 7.0 0.06 1.18 1.93 3.07 1.05 1.73 2.74 557
KM-22-62 636.6 682.8 46.2 0.22 1.47 3.22 53.5 0.47 2.89 4.73 7.51 2.37 3.89 6.18 600
including 644.4 646.2 1.8 0.89 4.36 19.26 133.0 0.77 12.18 19.96 31.68 10.41 17.07 27.09
including 650.7 657.5 6.8 0.34 3.21 9.59 145.2 1.79 7.53 12.34 19.59 6.26 10.26 16.29
including 663.2 665.5 2.3 0.53 8.66 7.82 181.6 1.55 10.60 17.38 27.58 8.30 13.61 21.60
KM-22-62 704.1 706.2 2.1 0.36 2.88 3.33 61.5 0.46 3.99 6.53 10.37 3.18 5.22 8.28 650
KM-22-62A 582.2 643.6 61.4 0.31 1.27 2.65 40.8 0.58 2.55 4.18 6.64 2.11 3.47 5.50 530
including 593.1 602.4 9.3 1.15 2.29 4.37 52.4 0.91 4.85 7.94 12.60 4.08 6.68 10.60
including 608.9 617.8 8.8 0.20 1.79 4.26 91.2 1.15 3.90 6.40 10.15 3.20 5.25 8.33
including 627.7 630.9 3.2 0.41 7.10 15.01 180.0 2.77 12.56 20.58 32.66 10.31 16.89 26.81
KM-22-62A 653.8 660.5 6.7 0.26 1.69 2.58 90.4 0.75 3.17 5.19 8.24 2.54 4.17 6.61 564
KM-22-62B 590.9 599.4 8.5 1.58 0.52 1.13 22.6 0.28 2.57 4.21 6.68 2.27 3.72 5.91 508
KM-22-62B 606.2 629.0 22.7 0.21 1.21 2.23 24.0 0.29 2.06 3.38 5.37 1.70 2.78 4.42
including 623.8 629.0 5.2 0.21 3.61 6.52 56.6 0.81 5.55 9.09 14.43 4.53 7.42 11.78
KM-22-62C 613.6 630.3 16.8 0.57 0.40 0.48 20.3 0.11 1.18 1.93 3.07 1.01 1.65 2.62 557
KM-22-62C 638.3 653.8 15.5 0.25 2.34 3.34 34.7 0.34 3.31 5.43 8.61 2.68 4.39 6.97
including 648.5 653.8 5.3 0.32 4.21 6.57 74.7 0.73 6.18 10.12 16.06 5.00 8.19 13.00
KM-22-63 982.2 983.1 0.9 3.41 1.23 2.19 47.0 0.24 5.43 8.90 14.12 4.79 7.85 12.45 980
KM-22-64 317.4 325.5 8.1 1.13 0.09 2.30 14.3 0.08 2.20 3.60 5.72 2.00 3.27 5.20 220
KM-22-65 334.4 337.1 2.7 1.39 0.06 0.34 7.0 0.03 1.62 2.65 4.21 1.48 2.43 3.86 251
KM-22-66 384.4 414.8 30.5 1.00 0.11 0.09 3.0 0.01 1.13 1.85 2.94 1.03 1.69 2.68
KM-22-67 340.2 345.9 5.8 0.38 0.06 0.55 4.4 0.09 0.69 1.12 1.78 0.62 1.02 1.61 264
KM-22-68 407.2 408.7 1.5 1.71 0.49 0.08 8.4 0.06 2.11 3.46 5.49 1.88 3.08 4.89 358
KM-22-68 435.9 446.5 10.7 0.54 0.18 0.29 4.3 0.04 0.80 1.31 2.08 0.71 1.17 1.85 377
KM-22-69 342.0 343.6 1.6 1.19 0.87 0.96 25.7 0.06 2.30 3.78 5.99 1.97 3.24 5.14 260
KM-22-71 631.2 648.5 17.3 0.53 0.15 0.21 9.6 0.01 0.78 1.28 2.02 0.69 1.12 1.78 590
KM-22-71 657.8 668.6 10.8 3.18 0.35 0.16 22.6 0.01 3.64 5.96 9.46 3.29 5.40 8.57 611
including 657.8 661.4 3.7 6.75 0.28 0.09 30.9 0.02 7.20 11.81 18.74 6.61 10.83 17.19
KM-22-71A 554.3 561.4 7.2 0.39 0.22 0.64 10.3 0.22 0.90 1.47 2.34 0.78 1.29 2.04 506
KM-22-72 637.6 660.2 22.6 0.34 0.38 1.15 12.9 0.27 1.17 1.92 3.05 1.01 1.66 2.63 596
KM-22-72 669.3 671.3 2.0 0.17 2.15 4.15 23.1 0.56 3.38 5.55 8.80 2.79 4.57 7.25

 

The true width of mineralization is estimated to be 50% to 99% of reported core width, with an average of 76%. (2) Assumptions used in USD for the copper and gold Metal Equivalent calculations were metal prices of $4.63/lb Copper, $1937/oz Gold, $25/oz Silver, $1.78/lb Zinc, and $1.02/lb Pb. Assumed metal recoveries (rec.), based on a preliminary review of historic data by SRK and ProcessIQ2, were 93% for copper, 92% for zinc, 90% for lead, 72% silver, and 70% for gold. The following equation was used to calculate copper equivalence: CuEq = Copper (%) (93% rec.) + (Gold (g/t) x 0.61)(72% rec.) + (Silver (g/t) x 0.0079)(72% rec.) + (Zinc (%) x 0.3844)(93% rec.) +(Lead (%) x 0.2203)(93% rec.). The following equation was used to calculate gold equivalence: AuEq = Gold (g/t)(72% rec.) + (Copper (%) x 1.638)(93% rec.) + (Silver (g/t) x 0.01291)(72% rec.) + (Zinc (%) x 0.6299)(93% rec.) +(Lead (%) x 0.3609)(93% rec.). Analyzed Metal Equivalent calculations are reported for illustrative purposes only. The metal chosen for reporting on an equivalent basis is the one that contributes the most dollar value after accounting for assumed recoveries.

 

 

Table 3. Results of Phase 1 Drill Program at Kay Mine, Yavapai County, Arizona. The true width of mineralization is estimated to be 50% to 99% of reported core width, with an average of 80%.

 

Analyzed Grade Vertical
Depth
Below
Surface m
Hole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb %
KM-20-01 275.8 281.5 5.6 0.57 0.48 1.20 11.6 0.18 156
including 275.8 276.5 0.6 0.50 1.22 5.04 32.0 0.73
including 279.8 281.5 1.6 1.21 0.98 1.49 22.6 0.23
KM-20-02 297.8 300.8 3.0 0.77 0.20 0.04 1.4 0.01 172
KM-20-03 256.3 259.1 2.7 3.40 1.01 0.65 69.6 0.09 120
including 256.3 257.3 0.9 7.42 1.79 1.11 56.0 0.17
KM-20-03 292.2 292.6 0.5 2.43 0.19 0.15 2.0 0.04 152
KM-20-03 295.4 295.8 0.5 1.35 0.80 0.91 6.0 0.06 154
KM-20-03A 252.4 256.9 4.6 3.70 2.55 0.27 35.6 0.03 122
including 252.4 253.1 0.8 9.74 6.34 0.40 164.0 0.11
KM-20-05 266.6 269.0 2.4 6.47 1.94 0.57 43.3 0.14 150
including 266.6 267.8 1.2 10.60 2.21 1.05 50.0 0.26
KM-20-06 267.9 281.5 13.5 1.02 0.85 1.23 45.6 0.30 158
including 267.9 268.4 0.5 1.54 2.20 6.10 31.0 0.81
including 276.6 281.5 4.9 1.86 0.87 1.96 92.1 0.42
including 280.0 281.0 1.1 3.22 1.03 0.64 340.0 0.04
KM-20-09 588.1 588.4 0.3 0.91 1.74 1.86 15.0 0.40 588
KM-20-09 613.4 614.1 0.7 0.90 1.81 1.04 10.0 0.08 612
KM-20-09 614.6 614.9 0.3 2.64 0.36 0.98 19.0 0.10 613
KM-20-09 632.8 638.9 6.1 0.12 4.18 8.02 41.7 0.82 575
including 633.6 637.9 4.4 0.15 5.46 9.06 33.1 0.50
including 636.9 637.9 1.1 0.17 9.77 14.65 68.0 0.78
KM-20-10 563.6 568.5 4.9 2.39 2.16 3.27 24.9 0.31 490
including 563.6 566.6 3.0 3.66 2.42 3.16 28.2 0.32
including 567.2 568.5 1.2 0.33 2.52 5.10 28.4 0.43
KM-20-10 574.2 574.9 0.6 0.12 4.33 11.30 113.0 0.16 498
KM-20-10 577.7 579.3 1.6 0.03 0.70 4.38 45.9 0.68 500
KM-20-10 582.3 583.1 0.8 0.03 0.42 2.90 51.0 1.07 502
KM-20-10A 521.2 522.5 1.3 2.13 1.27 7.46 51.1 0.91 437
KM-20-10A 527.9 538.6 10.7 1.32 1.66 2.58 27.2 0.30 442
including 527.9 529.4 1.5 6.69 0.92 1.62 30.2 0.07
including 532.2 535.3 3.1 0.72 1.75 2.99 34.3 0.42
including 537.2 538.6 1.4 0.16 7.29 9.06 79.2 0.60
KM-20-10B 503.0 530.7 27.6 0.87 0.97 1.76 21.3 0.32 423
including 503.0 509.6 6.6 1.78 1.55 2.55 29.8 0.37
including 513.9 518.3 4.4 1.08 1.89 4.05 47.4 0.68
including 527.2 530.7 3.5 1.91 2.32 3.93 52.9 0.99
KM-20-10C 523.9 530.7 6.8 0.58 3.32 5.84 102.0 1.15 422
including 523.9 528.2 4.3 0.88 4.89 7.61 125.2 1.45
including 525.6 526.4 0.8 0.52 16.65 21.40 214.0 2.76
KM-20-11 554.1 556.9 2.7 4.14 2.83 3.56 70.0 0.28 490
KM-20-12 371.9 376.7 4.9 3.99 0.37 0.62 12.4 0.07 318
including 371.9 373.7 1.9 8.49 0.67 1.53 28.0 0.16
KM-20-12 379.5 405.4 25.9 0.73 0.08 0.08 2.3 0.01 326
KM-20-13 443.6 486.8 43.1 1.68 1.26 1.67 23.3 0.24 341
including 444.4 459.6 15.2 3.42 1.80 2.36 38.5 0.39
including 444.4 447.1 2.7 1.02 3.74 10.64 55.0 1.88
including 451.4 455.8 4.4 8.41 1.18 0.16 65.3 0.02
KM-20-14 421.7 461.6 39.9 1.47 1.00 1.67 18.4 0.19 314
including 426.3 429.8 3.5 9.56 1.28 0.95 30.0 0.07
including 457.2 460.7 3.5 0.36 2.58 8.33 26.3 0.38
KM-20-14A 404.6 409.0 4.4 1.67 1.48 2.50 79.2 0.41 303
including 404.6 406.4 1.7 4.08 2.46 5.02 173.6 0.53
KM-20-14A 421.0 443.5 22.5 0.86 0.72 1.51 15.9 0.18 312
including 421.0 421.8 0.8 9.81 2.91 1.69 45.0 0.19
including 421.0 425.0 4.1 3.23 1.14 1.30 21.4 0.14
KM-20-15 506.8 510.1 3.3 0.05 0.33 3.73 192.0 1.75 402
KM-20-16 480.4 518.8 38.4 0.85 0.81 2.24 24.3 0.25 385
including 480.4 492.9 12.5 1.63 1.98 4.23 48.5 0.50
including 480.4 483.4 3.0 2.40 4.74 7.49 77.9 0.91
including 489.8 492.9 3.0 3.61 2.59 6.90 100.7 0.92

 

 

Table 4. Locations of Phase 1 and 2 Program drill holes completed at Kay Mine, Arizona

 

Hole ID Phase Drill Pad Zone Collar East WGS84 Collar North WGS84 Collar Elev m Collar Az Collar Dip Total Depth m Distance
Drilled
Below
Wedge m
KM-20-01 1 Pad 1 North 392684 3769388 643 78 -48 335 335
KM-20-02 1 Pad 1 North 392684 3769388 643 75 -50 304 304
KM-20-03 1 Pad 1 North 392684 3769388 643 72 -43.3 366 366
KM-20-03A 1 Pad 1 North 392684 3769388 643 72 -43.3 321 177
KM-20-04 1 Pad 1 North 392684 3769388 643 65.1 -47.5 354 354
KM-20-05 1 Pad 1 North 392684 3769388 643 73.3 -47.2 349 349
KM-20-06 1 Pad 1 North 392684 3769388 643 81.3 -48.3 317 317
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KM-22-69 2 Pad 1 South 392684 3769388 643 82 -67 1422
KM-22-70 2 Pad 1 South 392684 3769388 643 101 -82 300
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Covid-19 Monitoring and Mitigation Procedures

 

The Company’s drill contractor, Boart Longyear, has instituted Covid-19 monitoring procedures for all drill crew members, including daily temperature and symptom checks. Arizona Metals Corp will be provided with daily health tracking updates for the drill crews and has also instituted its own social distancing policies and provided a guidance manual for employees at site.

 

About Arizona Metals Corp

 

Arizona Metals Corp 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.” (Fellows, M.L., 1982, Kay Mine massive sulfide deposit: Internal report prepared for Exxon Minerals Company, November 1982, 29 p.) The historic estimate at the Kay Mine was reported by Exxon Minerals in 1982. The historic estimate has not been verified as a current mineral resource. None of the key assumptions, parameters, and methods used to prepare the historic estimate 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 estimate can be verified and upgraded to be a current mineral resource. A qualified person has not done sufficient work to classify it as a current mineral resource, and Arizona Metals is not treating the historic estimate as a current mineral resource.

 

The Kay Mine 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 Sugarloaf Peak Property was reported by Westworld Resources in 1983. The historic estimate has not been verified as a current mineral resource. None of the key assumptions, parameters, and methods used to prepare the historic estimate were reported, and no resource categories were used. Significant data compilation, re-drilling and data verification may be required by a qualified person before the historic estimate can be verified and upgraded to a current mineral resource. A qualified person has not done sufficient work to classify it as a current mineral resource, and Arizona Metals is not treating the historic estimate as a current mineral resource.

 

Qualified Person and Quality Assurance/Quality Control

 

All of Arizona Metals’ drill sample assay results have been independently monitored through a quality assurance/quality control protocol which includes the insertion of blind standard reference materials and blanks at regular intervals. Logging and sampling were completed at Arizona Metals’ core handling facilities located in Anthem and Black Canyon City, Arizona. Drill core was diamond sawn on site and half drill-core samples were securely transported to ALS Laboratories’ sample preparation facility in Tucson, Arizona. Sample pulps were sent to ALS’s labs in Vancouver, Canada, for analysis.

 

Gold content was determined by fire assay of a 30-gram charge with ICP finish (ALS method Au-AA23). Silver and 32 other elements were analyzed by ICP methods with four-acid digestion (ALS method ME-ICP61a). Over-limit samples for Au, Ag, Cu, and Zn were determined by ore-grade analyses Au-GRA21, Ag-OG62, Cu-OG62, and Zn-OG62, respectively.

 

ALS Laboratories is independent of Arizona Metals Corp. and its Vancouver facility is ISO 17025 accredited. ALS also performed its own internal QA/QC procedures to assure the accuracy and integrity of results. Parameters for ALS’ internal and Arizona Metals’ external blind quality control samples were acceptable for the samples analyzed. Arizona Metals is not aware of any drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data referred to herein.

 

The qualified person who reviewed and approved the technical disclosure in this release is David Smith, CPG, a qualified person as defined in National Instrument43-101–Standards of Disclosure for Mineral Projects. Mr. Smith supervised the preparation of the scientific and technical information that forms the basis for this news release and has reviewed and approved the disclosure herein. Mr. Smith is the Vice-President, Exploration of the Company. Mr. Smith supervised the drill program and verified the data disclosed, including sampling, analytical and QA/QC data, underlying the technical information in this news release, including reviewing the reports of ALS, methodologies, results, and all procedures undertaken for quality assurance and quality control in a manner consistent with industry practice, and all matters were consistent and accurate according to his professional judgement. There were no limitations on the verification process.

 

Figure 1. Cross section view looking north showing assay intervals in drilling. See Tables 1-3 for additional details. The true width of mineralization is estimated to be 50% to 99% of reported core width, with an average of 76%. See Table 1 for constituent elements, grades, metals prices and recovery assumptions used for AuEq g/t and CuEq % calculations. Analyzed Metal Equivalent calculations are reported for illustrative purposes only. (Photo: Business Wire)

 

Figure 2. Oblique downhole view looking east showing assay intervals in drilling. See Tables 1-3 for additional details. (Photo: Business Wire)

 

Figure 3. Long section displaying Kay Mine drill holes. See Tables 1-3 for additional details. The true width of mineralization is estimated to be 50% to 99% of reported core width, with an average of 76%. See Table 1 for constituent elements, grades, metals prices and recovery assumptions used for AuEq g/t and CuEq % calculations. Analyzed Metal Equivalent calculations are reported for illustrative purposes only. (Photo: Business Wire)

 

Posted July 6, 2022

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