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Arizona Metals Corp’s Kay Mine Drilling Intersects 28.2 m at a grade of 3.8% Cu, 0.5 g/t Au, 0.3% Zn, and 13 g/t Ag (incl. 5.5 m at 14.6% Cu, 0.7 g/t Au, 0.2% Zn, and 38g/t Ag), and Expands Mineralization on Strike, Towards Surface, and at Depth

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Arizona Metals Corp’s Kay Mine Drilling Intersects 28.2 m at a grade of 3.8% Cu, 0.5 g/t Au, 0.3% Zn, and 13 g/t Ag (incl. 5.5 m at 14.6% Cu, 0.7 g/t Au, 0.2% Zn, and 38g/t Ag), and Expands Mineralization on Strike, Towards Surface, and at Depth

 

 

 

 

Figure 2. Hole KM-21-42C displaying interval from 850.2 m to 852.9 m downhole, part of a broader interval (from 849.2 m to 877.4 m) of 28.2 m grading 3.8% Cu, 0.5 g/t Au, 0.3% Zn and 38 g/t Ag. (Photo: Business Wire)

 

Arizona Metals Corp. (TSX-V:AMC) (OTCQX:AZMCF) is pleased to announce the results of an additional fourteen drill holes at its Kay Mine project in Yavapai, County Arizona.

 

Marc Pais, CEO, commented “The fourteen drill holes released today continue to demonstrate the richness and size potential of the Kay Mine system. Virtually all holes drilled to date at Kay have intersected semi-massive to massive sulphide mineralization, with assays pending on 13 more holes, and three holes currently underway.

 

In Phase 2 drilling, the deposit has been tested to 860 m below surface (in Hole 42C) along a strike length of 300 m and drilling continues to expand Kay mineralization in all directions.

 

Hole 42C continues to demonstrate exceptional vertical continuity of thickness and grade of the deposit at depth; our deepest hole assayed, it has extended mineralization by 165 m down-plunge of hole 27B, and returned our highest copper grade to date, 18.8%. Hole 46, one of our shallowest holes to date, has also extended the deposit up-plunge by 35 m.

 

Drilling is currently underway with three drill rigs to test for further extensions of high-grade mineralization, both laterally and targeting depths below 900 m.

 

Our geological model, especially the modeled orientation of mineralized zones, is evolving rapidly as we drill, and is confirming a deposit considerably larger than reported historically. Our drill program is evolving to reflect these changes, and will soon incorporate results of a recently completed surface structural mapping program, as well as ground-loop EM survey currently underway.”

 

Drilling Highlights

  • Hole KM-21-42C intersected 28 m at a grade of 3.8% Cu, 0.5 g/t Au, 0.3% Zn, and 13 g/t Ag, including a higher-grade interval of 5.5 m grading 14.6% Cu, 0.7 g/t Au, 0.2% Zn, and 38 g/t Ag. This hole extends the high-grade mineralization encountered in Hole 27B approximately by 165 m down-plunge to a depth of 860 m below surface. Hole 42C is the deepest hole assayed so far, and intersected the project’s highest copper grade to date: 18.8% (over 1.4 m from 850.7 m downhole).
  • Hole KM-21-42A intersected 5.6 m at a grade of 6.2% Cu, 0.9 g/t Au, 0.2 % Zn, and 40 g/t Ag, including a higher grade interval of 2.0 m grading 10.7% Cu, 0.9 g/t Au, 0.1% Zn, and 62 g/t Ag. At 30 m farther downhole, this hole intersected 36 m at a grade of 0.6% Cu, 0.6 g/t Au, 1.4% Zn, and 11 g/t Ag. This hole extends the high-grade mineralization encountered in Hole 27B by approximately 145 m down-plunge to a depth of 835 m, and together with holes KM-21-42B and KM-21-42C defines a strike length at depth of approximately 75 m.
  • Hole KM-21-46 intersected 12.4 m at a grade of 2.6 g/t Au, 0.7% Cu, 3.7% Zn, and 41 g/t Ag, including a higher grade interval of 2.8 m grading 5.2 g/t Au, 0.8% Cu, 6.8% Zn and 107 g/t Ag. One of the shallowest holes drilled to date, intersecting mineralization at a vertical a depth of 157 m, this hole extends mineralization by approximately 35 m up-plunge from hole 44.
  • Hole KM-21-50 intersected 12.3 m at a grade of 2.3 g/t Au, 1.0% Cu, 6.4% Zn and 112 g/t Ag, including a higher grade interval of 3.4 m grading 3.6 g/t Au, 9.5% Zn, 2.6% Cu, and 208 g/t Ag. Sixteen meters deeper, this hole intersected 53 m grading 0.4% Cu, 0.8 g/t Au, 1.3% Cu, and 36 g/t Ag, including 7.5 meters grading 1.9 g/t Au, 2.6% Zn, 113 g/t Ag, and 0.3% Cu. Hole 50 confirms good continuity of the new mineralized zone approximately 60 m up-plunge of holes 24 and 26.
  • Hole KM21-52A intersected 29.4 m grading 1.1 g/t Au, 1.4%Zn, 52 g/t Ag, and 0.3% Cu, including a higher grade interval of 6 m at a grade of 2.6 g/t Au, 1.6% Zn, 120 g/t Ag, and 0.3% Cu. Forty-four meters deeper, this hole intersected 21.2 m at a grade of 0.9 g/t Au, 0.8% Zn, 0.1% Cu, and 27 g/t Ag, including a higher grade interval of 4.6 m grading 2.2 g/t Au, 1.3% Zn, and 69 g/t Ag. This deeper interval was intersected at a vertical depth of 817 m and confirms good continuity of mineralization below hole 27B and above holes 42 and 42B.

 

Summary of Pending Holes that Intersected Massive Sulphide Mineralization:

  • KM-21-57A: Located about midway in the 165 m gap between holes 27B (above) and 42C (below) in the deepest parts of the deposit drilled so far. This hole intersected stringer, semi-massive, and massive sulfide mineralization in two sections over downhole lengths of approximately 7 m and 38 m, starting at 728.6 and 762.3 m hole depth, respectively. Some sections of core reach 80% total sulphides.
  • KM-21-57B: Located 25 m downdip and north of 57A. Shows a ~58-m section of sulfide mineralization from 757.6 m downhole, with up to 75% chalcopyrite.
  • KM-21-58A: In the middle of the deposit, midway between holes 28 and 40. Beginning at 597.1 m downhole, intersected approximately 63 m of sulfide mineralization, comprising massive, semi-massive, and stringer sulfide styles with up to 90% total sulfides.
  • KM-21-60: This is one of a series of holes testing continuity and the northern extent of mineralization near the middle of the deposit’s vertical extent. This hole intersected numerous sections of massive, semi-massive, and stringer mineralization over a down-hole distance of 84 m. This confirms excellent continuity in the 100-m gap between holes 26 and 40, and along with hole 58B (assays pending) adds 15-20 m of additional thickness of mineralization into the footwall in this area.

 

Structural Mapping Program

 

In December 2021, the Company completed a detailed surface structural mapping program performed by associates of technical advisor Dr. Mark Hannington, to update and supplement structural mapping completed in 2019. The results of the mapping program will be combined with core logging data to refine drill targets at pads 4, 5, and 6. These pads will test for extensions of the Kay Mine mineralization approximately 500 m north and 300 m south of the main mineralized body. Mapping will also refine drill targets at the Central and West targets, located approximately 0.5 km and 1.3 km, respectively, west of the Kay deposit.

 

Ground-loop Geophysical Survey Underway

 

On January 15th, 2022, the Company initiated a ground loop electromagnetic (EM) survey, in order to refine and test the depth extensions of numerous previously untested exploration targets identified by the 2019 helicopter-borne EM survey. The survey will make a detailed examination of targets to the north and south of the Kay Mine, as well as the Central and Western targets.

 

Kay Mine Phase 2 Drill Program Progression Update

 

With the assayed holes released today, the Company has completed a total of 41,600 metres at the Kay Mine since inception of drilling. The Company is well financed and fully-funded to complete the remaining 33,000 metres planned for the Phase 2 program, as well as an additional 76,000 metres planned under the Phase 3 program.

 

Table 1. Results of Phase 2 Drill Program at Kay Mine, Yavapai County, Arizona announced in this news release. 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-21-42 803.5 810.3 6.9 0.05 1.60 1.58 64.3 0.35 800
KM-21-42 835.5 839.7 4.3 0.63 2.46 2.15 21.7 0.21 816
KM-21-42 853.7 854.7 0.9 0.11 1.63 2.88 28.0 0.40 846
KM-21-42A 786.7 787.6 0.9 0.03 3.61 2.18 17.0 0.70 781
KM-21-42A 805.4 811.1 5.6 6.17 0.92 0.18 39.5 0.01 802
including 807.0 808.9 2.0 10.72 0.87 0.11 61.8 0.00
KM-21-42A 840.9 877.2 36.3 0.55 0.62 1.35 10.7 0.13 848
KM-21-42B 808.0 811.2 3.2 0.29 2.06 5.77 63.0 0.94 790
KM-21-42B 816.9 819.9 3.0 2.31 0.66 1.23 16.0 0.15 810
KM-21-42B 835.5 840.8 5.3 0.02 0.73 2.93 13.5 0.24 828
KM-21-42C 849.2 877.4 28.2 3.81 0.47 0.29 12.5 0.09 850
including 849.2 854.7 5.5 14.57 0.66 0.16 37.5 0.03
including 863.8 869.4 5.6 2.29 1.17 0.59 13.1 0.25
including 874.8 877.4 2.6 2.83 0.26 0.03 7.2 0.01
KM-21-42C 886.1 889.1 3.0 0.87 0.88 0.50 5.2 0.05 855
KM-21-43 583.7 607.1 23.4 0.39 0.25 3.68 3.1 0.02 586
including 598.9 599.8 0.9 0.50 0.18 11.30 3.0 0.03
KM-21-43 616.0 633.1 17.1 1.81 0.17 0.14 8.2 0.03 616
including 631.2 633.1 1.8 6.30 0.61 0.09 25.0 0.01
KM-21-45 459.6 463.0 3.4 0.32 0.62 6.63 82.3 0.87 459
KM-21-46 350.4 362.9 12.4 0.66 2.61 3.69 40.6 0.39 157
including 350.4 353.3 2.8 0.77 5.19 6.83 107.0 0.72
KM-21-47 433.9 435.9 2.0 0.16 1.88 9.28 138.7 2.17 432
KM-21-48 605.2 610.7 5.5 3.54 0.45 0.19 12.7 0.05 606
KM-21-48 630.3 634.6 4.3 1.11 0.34 0.69 12.7 0.11 631
KM-21-48 685.5 696.8 11.3 0.98 0.05 0.06 4.2 0.02 686
KM-21-48 715.1 718.4 3.4 2.08 0.04 0.03 4.3 0.00 716
KM-21-48 723.0 724.5 1.5 1.54 0.07 0.06 4.0 0.02 724
KM-21-48 735.5 743.6 8.1 0.34 0.60 1.52 9.2 0.07 737
KM-21-48A 538.0 539.5 1.5 0.31 1.17 2.79 29.0 0.52 538
KM-21-48A 687.9 696.9 9.0 1.64 0.36 0.79 7.9 0.01 688
including 687.9 688.8 0.9 0.15 1.53 5.35 5.0 0.01
including 694.9 696.0 1.1 8.36 0.80 0.10 40.0 0.03
KM-21-50 489.5 501.9 12.3 0.98 2.30 6.36 111.9 1.24 481
including 489.5 493.0 3.4 2.64 3.59 9.49 207.7 1.65
KM-21-50 509.0 562.1 53.1 0.44 0.84 1.28 35.8 0.27 501
including 538.1 545.6 7.5 0.28 1.94 2.62 112.8 0.82
KM-21-52 751.5 758.2 6.7 1.18 0.66 0.98 18.2 0.14 743
KM-21-52 787.5 789.6 2.1 0.04 1.27 1.68 28.5 0.22 777
KM-21-52A 763.7 793.1 29.4 0.25 1.12 1.36 51.6 0.47 750
including 763.7 764.9 1.2 0.38 3.01 8.69 132.0 1.68
including 771.8 774.5 2.7 1.39 2.46 4.59 116.4 1.82
including 781.5 787.6 6.1 0.31 2.63 1.64 119.5 0.65
KM-21-52A 801.3 802.5 1.2 0.42 0.90 1.29 82.0 0.17 789
KM-21-52A 818.8 820.2 1.4 0.39 1.62 1.29 188.0 0.36 805
KM-21-52A 831.2 852.4 21.2 0.05 0.91 0.80 27.2 0.29 817
including 837.0 841.6 4.6 0.03 2.16 1.34 69.0 0.79
KM-21-55 302.7 308.5 5.8 0.66 0.44 0.53 15.8 0.10 153

 

 

Table 2. Full results of Phase 2 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-21-17 429.5 449.9 20.4 1.81 1.10 1.20 21.2 0.17 300
including 429.5 434.0 4.6 4.61 1.73 1.91 29.1 0.24
including 432.7 434.0 1.4 0.52 6.81 8.29 40.0 1.10
KM-21-17 504.4 505.4 0.9 1.19 4.73 0.05 9.0 0.00 356
KM-21-18 404.3 429.8 25.5 0.35 0.86 1.71 15.8 0.23 255
including 408.6 410.6 2.0 0.50 2.22 7.25 64.4 0.82
including 424.9 427.3 2.4 1.60 2.59 3.16 18.0 0.52
KM-21-18A 391.4 423.8 32.5 1.09 0.62 1.25 17.6 0.15 233
including 393.3 395.8 2.4 9.57 2.83 2.72 40.9 0.28
KM-21-19 377.8 378.3 0.5 3.39 5.59 6.83 128.0 0.63 337
KM-21-20 442.7 443.6 0.9 2.56 0.52 3.52 18.5 0.14 362
KM-21-20 456.0 458.1 2.1 1.49 0.35 0.14 6.0 0.04 370
KM-21-21 452.6 495.5 42.8 0.80 0.78 1.52 15.1 0.15 362
including 488.7 493.5 4.8 0.26 2.50 6.13 27.6 0.54
KM-21-21A 422.0 431.4 9.4 1.17 0.57 2.25 8.6 0.36 362
KM-21-21A 439.1 502.1 63.0 0.45 1.28 3.14 58.8 0.77 366
including 465.0 481.9 16.9 0.52 2.45 4.05 80.9 0.99
KM-21-23 394.4 401.4 7.0 0.36 0.93 1.94 13.5 1.17 313
KM-21-23 438.6 459.2 20.6 0.17 1.18 1.93 27.8 0.37 336
KM-21-24 501.2 592.1 90.8 0.45 1.33 3.42 44.3 0.41 470
including 501.2 521.7 20.4 1.34 1.70 6.35 113.1 0.66
including 520.9 521.7 0.8 1.75 16.50 9.55 574.0 1.22
including 575.9 592.1 16.2 0.16 2.50 6.00 44.4 0.79
including 588.7 590.4 1.7 0.47 9.98 23.70 18.2 0.13
KM-21-25 662.6 741.3 78.6 1.41 2.33 2.79 43.4 0.35 638
including 663.2 672.7 9.4 8.06 1.84 1.31 92.3 0.15
including 693.0 703.9 11.0 0.68 6.28 10.40 99.7 1.17
KM-21-25A 654.7 719.9 65.2 1.04 1.94 2.15 18.8 0.18 624
including 655.5 662.8 7.3 3.66 2.09 1.85 30.2 0.21
including 710.8 716.9 6.1 2.72 7.95 3.73 37.4 0.31
KM-21-25B 647.2 648.9 1.7 0.13 0.58 2.41 62.1 0.64 610
KM-21-25B 655.6 659.9 4.3 0.93 0.91 0.91 25.3 0.19 615
KM-21-25B 666.0 667.8 1.8 0.60 0.72 2.98 33.5 0.43 620
KM-21-25B 673.3 674.7 1.4 0.08 2.10 2.39 23.0 0.33 628
KM-21-25B 681.2 682.6 1.4 0.09 1.54 2.98 11.0 0.35 631
KM-21-26 506.7 582.8 76.0 0.79 1.61 4.23 32.6 0.54 480
including 511.1 526.1 14.9 0.73 1.78 9.68 43.3 0.77
including 573.8 582.8 9.0 4.02 6.06 3.32 18.2 0.19
KM-21-27 706.8 738.2 31.4 1.58 0.16 0.69 9.0 0.06 700
KM-21-27 764.4 777.4 13.0 2.85 0.48 0.17 8.4 0.02 775
KM-21-27A 666.3 769.4 103.1 0.79 1.06 1.90 35.8 0.42 678
including 666.3 687.0 20.7 3.21 1.39 1.26 19.4 0.20
including 706.4 724.6 18.3 0.69 2.69 4.70 92.2 1.21
including 752.9 763.8 11.0 0.07 1.07 4.68 95.3 0.98
KM-21-27B 665.8 762.9 97.1 1.31 1.62 3.21 31.7 0.40 660
including 702.0 723.0 21.0 0.87 4.56 9.03 81.5 1.10
including 723.0 738.2 15.2 4.97 0.36 0.42 18.7 0.05
KM-21-28 640.7 694.9 54.3 1.87 2.85 5.03 29.4 0.70 584
including 660.2 671.6 11.4 0.54 4.29 9.30 32.2 1.17
including 681.1 689.0 7.9 4.39 9.47 10.34 93.1 2.41
including 690.4 692.6 2.2 16.06 0.82 0.06 55.8 0.01
KM-21-29 393.0 393.8 0.8 0.43 1.54 4.92 9.0 0.21 235
KM-21-30 264.9 267.9 3.0 1.18 0.02 0.01 1.5 0.00 240
KM-21-32 316.4 320.0 3.7 1.84 1.29 2.47 38.5 0.30 185
KM-21-32 342.9 345.9 3.0 0.67 0.52 2.70 13.0 0.15 190
KM-21-32 358.9 368.4 9.4 0.60 1.47 1.99 45.7 0.35 195
KM-21-33 171.3 172.5 1.2 3.79 0.45 0.21 63.0 0.17 150
KM-21-34 299.3 303.9 4.6 0.29 1.69 0.94 46.3 0.26 205
KM-21-34 309.7 310.9 1.2 2.27 0.56 1.55 19.9 0.08 210
KM-21-35 609.6 615.1 5.5 0.92 1.26 1.71 57.7 0.02 550
including 609.6 613.0 3.4 1.39 1.69 1.98 54.0 0.01
KM-21-38 406.5 407.8 1.4 0.60 1.08 9.41 4.0 0.25 345
KM-21-38 467.4 476.1 8.7 0.09 1.73 3.87 61.1 1.22 370
including 470.0 475.2 5.2 0.12 2.44 5.68 87.5 1.79
KM-21-40 589.8 613.8 24.0 4.98 0.61 0.98 23.4 0.45 550
including 589.8 597.9 8.1 7.63 0.43 0.39 27.1 0.17
KM-21-40 627.9 680.8 52.9 0.47 2.91 3.40 35.7 0.40 590
including 641.1 648.3 7.2 1.15 7.66 8.27 88.5 0.92
including 670.3 674.1 3.8 1.53 10.89 9.47 24.6 0.61
KM-21-41 462.6 559.3 96.7 1.04 1.54 2.66 40.8 0.35 420
including 503.2 514.2 11.0 0.99 5.34 8.17 106.3 1.63
including 546.7 558.1 11.4 5.86 5.83 3.24 185.4 0.04
including 553.1 556.9 3.8 7.11 9.55 5.70 505.8 0.09
KM-21-42 803.5 810.3 6.9 0.05 1.60 1.58 64.3 0.35 800
KM-21-42 835.5 839.7 4.3 0.63 2.46 2.15 21.7 0.21 816
KM-21-42 853.7 854.7 0.9 0.11 1.63 2.88 28.0 0.40 846
KM-21-42A 786.7 787.6 0.9 0.03 3.61 2.18 17.0 0.70 781
KM-21-42A 805.4 811.1 5.6 6.17 0.92 0.18 39.5 0.01 802
including 807.0 808.9 2.0 10.72 0.87 0.11 61.8 0.00
KM-21-42A 840.9 877.2 36.3 0.55 0.62 1.35 10.7 0.13 848
KM-21-42B 808.0 811.2 3.2 0.29 2.06 5.77 63.0 0.94 790
KM-21-42B 816.9 819.9 3.0 2.31 0.66 1.23 16.0 0.15 810
KM-21-42B 835.5 840.8 5.3 0.02 0.73 2.93 13.5 0.24 828
KM-21-42C 849.2 877.4 28.2 3.81 0.47 0.29 12.5 0.09 850
including 849.2 854.7 5.5 14.57 0.66 0.16 37.5 0.03
including 863.8 869.4 5.6 2.29 1.17 0.59 13.1 0.25
including 874.8 877.4 2.6 2.83 0.26 0.03 7.2 0.01
KM-21-42C 886.1 889.1 3.0 0.87 0.88 0.50 5.2 0.05 855
KM-21-43 583.7 607.1 23.4 0.39 0.25 3.68 3.1 0.02 586
including 598.9 599.8 0.9 0.50 0.18 11.30 3.0 0.03
KM-21-43 616.0 633.1 17.1 1.81 0.17 0.14 8.2 0.03 616
including 631.2 633.1 1.8 6.30 0.61 0.09 25.0 0.01
KM-21-44 353.4 377.3 23.9 0.34 0.97 2.52 18.3 0.33 185
including 354.0 356.6 2.6 0.23 2.14 7.97 38.9 0.68
KM-21-45 459.6 463.0 3.4 0.32 0.62 6.63 82.3 0.87 459
KM-21-46 350.4 362.9 12.4 0.66 2.61 3.69 40.6 0.39 157
including 350.4 353.3 2.8 0.77 5.19 6.83 107.0 0.72
KM-21-47 433.9 435.9 2.0 0.16 1.88 9.28 138.7 2.17 432
KM-21-48 605.2 610.7 5.5 3.54 0.45 0.19 12.7 0.05 606
KM-21-48 630.3 634.6 4.3 1.11 0.34 0.69 12.7 0.11 631
KM-21-48 685.5 696.8 11.3 0.98 0.05 0.06 4.2 0.02 686
KM-21-48 715.1 718.4 3.4 2.08 0.04 0.03 4.3 0.00 716
KM-21-48 723.0 724.5 1.5 1.54 0.07 0.06 4.0 0.02 724
KM-21-48 735.5 743.6 8.1 0.34 0.60 1.52 9.2 0.07 737
KM-21-48A 538.0 539.5 1.5 0.31 1.17 2.79 29.0 0.52 538
KM-21-48A 687.9 696.9 9.0 1.64 0.36 0.79 7.9 0.01 688
including 687.9 688.8 0.9 0.15 1.53 5.35 5.0 0.01
including 694.9 696.0 1.1 8.36 0.80 0.10 40.0 0.03
KM-21-50 489.5 501.9 12.3 0.98 2.30 6.36 111.9 1.24 481
including 489.5 493.0 3.4 2.64 3.59 9.49 207.7 1.65
KM-21-50 509.0 562.1 53.1 0.44 0.84 1.28 35.8 0.27 501
including 538.1 545.6 7.5 0.28 1.94 2.62 112.8 0.82
KM-21-52 751.5 758.2 6.7 1.18 0.66 0.98 18.2 0.14 743
KM-21-52 787.5 789.6 2.1 0.04 1.27 1.68 28.5 0.22 777
KM-21-52A 763.7 793.1 29.4 0.25 1.12 1.36 51.6 0.47 750
including 763.7 764.9 1.2 0.38 3.01 8.69 132.0 1.68
including 771.8 774.5 2.7 1.39 2.46 4.59 116.4 1.82
including 781.5 787.6 6.1 0.31 2.63 1.64 119.5 0.65
KM-21-52A 801.3 802.5 1.2 0.42 0.90 1.29 82.0 0.17 789
KM-21-52A 818.8 820.2 1.4 0.39 1.62 1.29 188.0 0.36 805
KM-21-52A 831.2 852.4 21.2 0.05 0.91 0.80 27.2 0.29 817
including 837.0 841.6 4.6 0.03 2.16 1.34 69.0 0.79
KM-21-55 302.7 308.5 5.8 0.66 0.44 0.53 15.8 0.10 153

 

 

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%.

 

Arizona Metals Kay Mine Drill Intercepts 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
KM-20-07 1 Pad 1 North 392684 3769388 643 85.6 -47.6 308 308
KM-20-08 1 Pad 2 South 392638 3769266 653 91.1 -77.1 36 36
KM-20-09 1 Pad 2 South 392638 3769266 653 92.1 -77 671 671
KM-20-10 1 Pad 2 South 392638 3769266 653 96.3 -72.2 645 645
KM-20-10A 1 Pad 2 South 392638 3769266 653 96.3 -72.2 600 297
KM-20-10B 1 Pad 2 South 392638 3769266 653 96.3 -72.2 555 258
KM-20-10C 1 Pad 2 South 392638 3769266 653 96.3 -72.2 560 277
KM-20-11 1 Pad 3 North 392552 3769328 638 57.3 -67.5 653 653
KM-20-12 1 Pad 1 North 392684 3769388 643 95.7 -70.8 583 583
KM-20-13 1 Pad 1 South 392684 3769388 643 124 -66.5 524 524
KM-20-14 1 Pad 1 South 392684 3769388 643 133.6 -66 550 550
KM-20-14A 1 Pad 1 South 392684 3769388 643 133.6 -66 549 263
KM-20-15 1 Pad 2 South 392638 3769266 653 106.7 -66.8 572 572
KM-20-16 1 Pad 2 South 392638 3769266 653 91.5 -68.9 581 581
KM-21-17 2 Pad 2 South 392638 3769266 653 90.5 -59.5 892 892
KM-21-18 2 Pad 2 South 392638 3769266 653 89.8 -55 518 518
KM-21-18A 2 Pad 2 South 392638 3769266 653 89.8 -55 472 236
KM-21-19 2 Pad 1 North 392684 3769388 643 59.3 -69.5 482 482
KM-21-20 2 Pad 2 North 392638 3769266 653 53.7 -67.3 553 553
KM-21-21 2 Pad 1 South 392684 3769388 643 126 -70 561 561
KM-21-21A 2 Pad 1 South 392684 3769388 643 126 -70 556 315
KM-21-22 2 Pad 3 Grav 392552 3769328 638 33 -63 725 725
KM-21-22A 2 Pad 3 Grav 392552 3769328 638 33 -63 694 419
KM-21-23 2 Pad 1 South 392684 3769388 643 114.2 -66.3 528 528
KM-21-24 2 Pad 1 South 392684 3769388 643 119 -75.1 623 623
KM-21-25 2 Pad 3 South 392552 3769328 638 80 -77.4 775 775
KM-21-25A 2 Pad 3 South 392552 3769328 638 80 -77.4 746 263
KM-21-25B 2 Pad 3 South 392552 3769328 638 80 -77.4 738 404
KM-21-26 2 Pad 1 South 392684 3769388 643 118.2 -79.3 616 616
KM-21-27 2 Pad 1 South 392684 3769388 643 90.4 -86.7 859 859
KM-21-27A 2 Pad 1 South 392684 3769388 643 90.4 -86.7 817 391
KM-21-27B 2 Pad 1 South 392684 3769388 643 90.4 -86.7 823 427
KM-21-28 2 Pad 3 South 392552 3769328 638 86.7 -70.5 774 774
KM-21-29 2 Pad 1 South 392684 3769388 643 108.5 -54 489 489
KM-21-30 2 Pad 4 Far North 392733 3769870 630 71.4 -53 539 539
KM-21-31 2 Pad 2 South 392638 3769266 653 115 -62 618 618
KM-21-32 2 Pad 1 South 392684 3769388 643 115 -45.6 496 496
KM-21-33 2 Pad 4 Far North 392733 3769870 630 106.5 -53 458 458
KM-21-34 2 Pad 1 North 392684 3769388 643 81 -59 430 430
KM-21-35 2 Pad 2 South 392638 3769266 653 102.5 -78.5 716 716
KM-21-36 2 Pad 4 Far North 392733 3769870 630 132 -50 350 350
KM-21-37 2 Pad 4 Far North 392733 3769870 630 20 -75 490 490
KM-21-38 2 Pad 1 N&S 392684 3769388 643 109.2 -71.8 554 554
KM-21-39 2 Pad 4 Far North 392733 3769870 630 355 -71 427 427
KM-21-40 2 Pad 2 South 392638 3769266 653 72.5 -80.4 742 742
KM-21-41 2 Pad 1 N&S 392684 3769388 643 112 -77 610 610
KM-21-42 2 Pad 3 South 392552 3769328 638 72.5 -86 958 958
KM-21-42A 2 Pad 3 South 392552 3769328 638 72.5 -86 929 334
KM-21-42B 2 Pad 3 South 392552 3769328 638 72.5 -86 888 309
KM-21-42C 2 Pad 3 South 392552 3769328 638 72.5 -86 953 389
KM-21-43 2 Pad 1 N&S 392684 3769388 643 103.5 -83.8 686 686
KM-21-44 2 Pad 1 South 392684 3769388 643 124 -42.8 431 431
KM-21-45 2 Pad 2 South 392638 3769266 653 102 -63.4 522 522
KM-21-46 2 Pad 1 South 392684 3769388 643 123.5 -45 412 412
KM-21-47 2 Pad 2 South 392638 3769266 653 97.6 -59.8 511 511
KM-21-48 2 Pad 1 South 392684 3769388 643 99 -86.5 784 784
KM-21-48A 2 Pad 1 South 392684 3769388 643 99 -86.5 740 435
KM-21-49 2 Pad 2 South 392638 3769266 653 73.3 -71 326 326
KM-21-50 2 Pad 2 South 392638 3769266 653 71.3 -74.3 636 636
KM-21-51 2 Pad 3 South 392552 3769328 638 20 -80.5 1017 1017
KM-21-51A 2 Pad 3 South 392552 3769328 638 20 -80.5 1013 611
KM-21-51B 2 Pad 3 South 392552 3769328 638 20 -80.5 986 635
KM-21-52 2 Pad 2 South 392638 3769266 653 65.2 -86.8 849 849
KM-21-52A 2 Pad 2 South 392638 3769266 653 65.2 -86.8 906 602
KM-21-53 2 Pad 1 South 392684 3769388 643 133.4 -45 582 582
KM-21-54 2 Pad 1 South 392684 3769388 643 127.5 -45 523 523
KM-21-55 2 Pad 1 South 392684 3769388 643 113 -45 479 479
KM-21-56 2 Pad 1 South 392684 3769388 643 106.7 -81 685 685
KM-21-57 2 Pad 2 South 392638 3769266 653 28 -85.2 1002 1002
KM-21-57A 2 Pad 2 South 392638 3769266 653 28 -85.2 857 308
KM-22-57B 2 Pad 2 South 392638 3769266 653 28 -85.2 887 354
KM-21-58 2 Pad 1 South 392684 3769388 643 106 -82.8 759 759
KM-21-58A 2 Pad 1 South 392684 3769388 643 106 -82.8 680 315
KM-21-58B 2 Pad 1 South 392684 3769388 643 106 -82.8 708 403

 

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’ (“ALS”) 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.

 

Posted January 25, 2022

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