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Arizona Metals Corp’s Kay Mine Drilling Intersects 68.4 m at 6.7 g/t AuEq; 84.4 m at 5.3 g/t AuEq; and 72.5 m at 2.5% CuEq

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Arizona Metals Corp’s Kay Mine Drilling Intersects 68.4 m at 6.7 g/t AuEq; 84.4 m at 5.3 g/t AuEq; and 72.5 m at 2.5% CuEq

 

 

 

 

 

Arizona Metals Corp. (TSX-V:AMC) (OTCQX:AZMCF) is pleased to announce the results of six recently completed drill holes at its Kay Mine project in Yavapai, County Arizona. An additional 20 holes are pending, with three drill rigs turning 24 hours per day.

 

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.

 

Hole 51B showed the deepest mineralization assayed to date, at a vertical depth of 900 meters. Drilling is currently underway to test for depth extensions to at least 1,100 meters, while also testing for lateral extensions of the thick hinge zone. The twenty holes pending all encountered semi-massive or massive sulphide mineralization, and those intersections are guiding the drilling currently underway.

 

We have drilled approximately 45,000 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. To that end, we recently completed a property-wide ground-loop electromagnetic survey, which will serve to refine and improve the resolution of the Central and Western targets, located approximately 300 meters and 1,000 meters west of Kay, respectively. Drill pad and road permitting is currently underway for these targets, with a detailed update expected in the next few weeks.”

 

Drilling Highlights

  • Hole KM-21-58 intersected 68.4 m at a grade of 6.7 g/t AuEq, including higher-grade intervals of 7.3 m grading 10.1 g/t AuEq and 10.5 m grading 21.1 g/t AuEq, from a depth of 614 m. This hole is in the central portion of the deposit, and demonstrates excellent continuity of mineralization between holes 26, 28, 25A, and 40.
  • Hole KM-21-58A intersected 72.5 m at a grade of 2.5% CuEq, including higher grade intervals of 7.6 m grading 3.0% CuEq, 11.0 m grading 4.3% CuEq, and 8.3 m grading 4.2% CuEq, from a depth of 569 m. This hole is in the central portion of the deposit, and demonstrates continuity and extension of mineralization between holes 26, 28, 25A, and 40.
  • Hole KM-21-58B intersected 84.4 m at a grade of 5.3 g/t AuEq, including higher grade intervals of 11.3 m grading 10.3 g/t AuEq, and 17.4 m grading 11.2 g/t AuEq, from a depth of 597 m. This hole is in the central portion of the deposit, and demonstrates continuity of mineralization between holes 26, 28, 25A, and 40.
  • Hole KM-21-51B intersected 9.8 m at a grade of 2.8% CuEq, including a higher grade interval of 0.9 m grading 8.0% CuEq, from a depth of 861m. At 10.6 m farther down-hole, this hole also intersected 9.8 m grading 1.4% Cu, including 1.1 meters grading 6.1% CuEq. This is the deepest hole assayed to date, extending mineralization about 35 m north and 12 m downdip from hole 42C.
  • Hole KM21-57 intersected 7.8 m grading 3.9 g/t AuEq, including a higher grade interval of 0.9 m at a grade of 12.7 g/t AuEq, from a depth of 820 m. Thirty-five meters farther downhole, this hole intersected 15.5 m at a grade of 3.3% CuEq including a higher grade interval of 3.5 m grading 7.5% CuEq. This hole shows excellent continuity of high-grade mineralization between holes 27A and 42A.

 

Kay Mine Phase 2 Drill Program Update

 

With the assayed holes released today, the Company has completed a total of 45,000 meters at the Kay Mine since inception of drilling. The Company is fully-funded to complete the remaining 30,000 meters planned for the Phase 2 program, as well as an additional 76,000 meters in the upcoming Phase 3 program.

 

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 (including assumed recoveries)
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-21-51B 860.5 870.2 9.8 3.00 0.13 0.10 6.5 0.05 3.18 5.21 8.27 2.82 4.63 7.35
including 864.7 865.6 0.9 8.70 0.09 0.09 16.0 0.10 8.93 14.64 23.24 7.99 13.09 20.78
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 0.92 1.51 2.40
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 1.44 2.36 3.74
including 898.2 899.3 1.1 6.56 0.11 0.10 15.0 0.04 6.79 11.13 17.67 6.06 9.93 15.75
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 1.66 2.72 4.31
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 3.96 6.48 10.29
including 499.1 500.2 1.1 1.97 0.31 14.55 7.0 0.02 7.81 12.81 20.33 6.96 11.41 18.10
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 0.97 1.59 2.53
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 2.31 3.78 6.00
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 0.81 1.34 2.12
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 2.39 3.91 6.21
including 777.8 778.8 0.9 0.25 6.62 11.45 105.0 3.33 10.26 16.81 26.68 7.77 12.73 20.21
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 3.33 5.47 8.67
including 824.0 827.5 3.5 3.69 4.67 3.81 228.5 0.29 9.88 16.19 25.69 7.49 12.28 19.48
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 2.76 4.52 7.18
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 2.85 4.68 7.42
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 3.46 5.67 9.00
including 762.3 783.3 21.0 0.42 6.78 9.49 67.9 0.49 8.84 14.50 23.00 6.56 10.75 17.06
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 2.00 3.28 5.20
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 4.08 6.69 10.61
including 640.7 648.0 7.3 0.79 4.34 10.20 51.9 0.56 7.90 12.94 20.54 6.19 10.14 16.10
including 668.1 678.6 10.5 5.30 12.19 6.67 194.7 1.88 17.26 28.30 44.90 12.84 21.05 33.40
including 668.1 669.6 1.5 2.55 43.20 7.76 856.0 0.80 38.86 63.69 101.08 25.03 41.02 65.10
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 2.50 4.10 6.51
including 584.3 591.9 7.6 0.29 1.19 6.23 4.4 0.40 3.53 5.79 9.19 2.95 4.84 7.68
including 602.3 613.3 11.0 4.02 0.11 1.38 12.6 0.40 4.80 7.88 12.50 4.27 7.01 11.12
including 630.3 630.9 0.7 1.14 6.35 11.20 356.0 0.65 12.28 20.13 31.95 9.05 14.83 23.53
including 633.5 641.8 8.3 1.53 2.33 5.12 26.5 0.36 5.20 8.53 13.53 4.19 6.87 10.91
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 3.69 6.04 9.59
including 672.5 676.0 3.5 0.12 6.89 6.40 332.0 3.81 10.26 16.82 26.70 7.19 11.78 18.69
including 673.6 674.5 0.9 0.28 19.65 12.65 844.0 10.20 26.07 42.74 67.82 17.86 29.27 46.45
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 3.23 5.29 8.39
including 571.2 582.5 11.3 0.51 5.27 9.96 35.4 1.52 8.18 13.40 21.27 6.31 10.34 16.41
including 605.3 622.7 17.4 3.20 6.19 4.18 40.9 0.22 8.96 14.69 23.31 6.83 11.20 17.78
including 609.6 612.0 2.4 1.45 17.73 7.97 82.5 0.44 16.08 26.35 41.81 11.03 18.07 28.68

 

 

The true width of mineralization is estimated to be 50% to 99% of reported core width, with an average of 80%. (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 90% for each of copper, zinc, and lead, and 60% for each of gold and silver. The following equation was used to calculate copper equivalence: CuEq = Copper (%) (90% rec.) + (Gold (g/t) x 0.61)(60% rec.) + (Silver (g/t) x 0.0079)(60% rec.) + (Zinc (%) x 0.3844)(90% rec.) +(Lead (%) x 0.2203)(90% rec.). The following equation was used to calculate gold equivalence: AuEq = Gold (g/t)(60% rec.) + (Copper (%) x 1.638)(90% rec.) + (Silver (g/t) x 0.01291)(60% rec.) + (Zinc (%) x 0.6299)(90% rec.) +(Lead (%) x 0.3609)(90% 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 (including assumed recoveries)
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 2.58 4.22 6.70
including 429.5 434.0 4.6 4.61 1.73 1.91 29.1 0.24 6.68 10.96 17.39 5.63 9.23 14.64
including 432.7 434.0 1.4 0.52 6.81 8.29 40.0 1.10 8.41 13.79 21.89 6.23 10.22 16.21
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 2.86 4.69 7.45
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 1.34 2.20 3.49
including 408.6 410.6 2.0 0.50 2.22 7.25 64.4 0.82 5.33 8.74 13.87 4.24 6.95 11.03
including 424.9 427.3 2.4 1.60 2.59 3.16 18.0 0.52 4.66 7.64 12.12 3.68 6.02 9.56
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 1.76 2.88 4.57
including 393.3 395.8 2.4 9.57 2.83 2.72 40.9 0.28 12.73 20.87 33.12 10.84 17.78 28.21
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 8.19 13.43 21.32
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 3.82 6.26 9.94
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 1.55 2.54 4.04
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 1.63 2.67 4.24
including 488.7 493.5 4.8 0.26 2.50 6.13 27.6 0.54 4.48 7.34 11.65 3.51 5.75 9.12
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 2.15 3.53 5.60
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 2.39 3.92 6.23
including 465.0 481.9 16.9 0.52 2.45 4.05 80.9 0.99 4.43 7.26 11.53 3.35 5.49 8.71
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 1.64 2.69 4.26
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 1.46 2.39 3.80
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 2.37 3.88 6.16
including 501.2 521.7 20.4 1.34 1.70 6.35 113.1 0.66 5.86 9.60 15.24 4.69 7.69 12.20
including 520.9 521.7 0.8 1.75 16.50 9.55 574.0 1.22 20.31 33.29 52.82 13.89 22.77 36.13
including 575.9 592.1 16.2 0.16 2.50 6.00 44.4 0.79 4.51 7.40 11.74 3.50 5.74 9.11
including 588.7 590.4 1.7 0.47 9.98 23.70 18.2 0.13 15.84 25.96 41.20 12.39 20.30 32.22
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 3.37 5.52 8.76
including 663.2 672.7 9.4 8.06 1.84 1.31 92.3 0.15 10.45 17.13 27.18 8.85 14.50 23.01
including 693.0 703.9 11.0 0.68 6.28 10.40 99.7 1.17 9.56 15.66 24.86 7.21 11.82 18.77
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 2.52 4.13 6.56
including 655.5 662.8 7.3 3.66 2.09 1.85 30.2 0.21 5.93 9.73 15.44 4.89 8.01 12.71
including 710.8 716.9 6.1 2.72 7.95 3.73 37.4 0.31 9.37 15.36 24.38 6.89 11.29 17.92
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 1.58 2.60 4.12
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 1.64 2.69 4.27
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 2.08 3.41 5.42
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 1.84 3.01 4.78
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 1.80 2.95 4.67
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 3.03 4.96 7.88
including 511.1 526.1 14.9 0.73 1.78 9.68 43.3 0.77 6.05 9.92 15.74 5.02 8.23 13.05
including 573.8 582.8 9.0 4.02 6.06 3.32 18.2 0.19 9.18 15.04 23.87 7.11 11.65 18.49
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 1.77 2.91 4.62
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 2.85 4.67 7.41
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 2.01 3.30 5.23
including 666.3 687.0 20.7 3.21 1.39 1.26 19.4 0.20 4.74 7.77 12.33 3.97 6.50 10.32
including 706.4 724.6 18.3 0.69 2.69 4.70 92.2 1.21 5.13 8.41 13.35 3.91 6.41 10.17
including 752.9 763.8 11.0 0.07 1.07 4.68 95.3 0.98 3.49 5.73 9.09 2.72 4.46 7.08
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 3.12 5.11 8.11
including 702.0 723.0 21.0 0.87 4.56 9.03 81.5 1.10 8.01 13.13 20.83 6.18 10.13 16.08
including 723.0 738.2 15.2 4.97 0.36 0.42 18.7 0.05 5.51 9.03 14.33 4.85 7.95 12.61
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 4.75 7.78 12.34
including 660.2 671.6 11.4 0.54 4.29 9.30 32.2 1.17 7.24 11.87 18.84 5.66 9.27 14.71
including 681.1 689.0 7.9 4.39 9.47 10.34 93.1 2.41 15.42 25.27 40.10 11.92 19.54 31.00
including 690.4 692.6 2.2 16.06 0.82 0.06 55.8 0.01 17.02 27.90 44.28 15.04 24.65 39.12
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 2.74 4.49 7.13
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 1.08 1.77 2.81
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 3.22 5.29 8.39
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 1.82 2.98 4.73
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 2.05 3.36 5.33
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 3.99 6.53 10.37
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 1.48 2.43 3.86
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 2.89 4.74 7.53
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 2.16 3.53 5.61
including 609.6 613.0 3.4 1.39 1.69 1.98 54.0 0.01 3.61 5.92 9.40 2.81 4.61 7.32
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 4.26 6.98 11.07
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 2.58 4.24 6.72
including 470.0 475.2 5.2 0.12 2.44 5.68 87.5 1.79 4.88 8.01 12.71 3.74 6.13 9.73
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 5.25 8.60 13.64
including 589.8 597.9 8.1 7.63 0.43 0.39 27.1 0.17 8.30 13.60 21.58 7.32 12.00 19.05
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 2.92 4.78 7.59
including 641.1 648.3 7.2 1.15 7.66 8.27 88.5 0.92 9.90 16.23 25.76 7.30 11.97 18.99
including 670.3 674.1 3.8 1.53 10.89 9.47 24.6 0.61 12.15 19.91 31.59 8.88 14.55 23.10
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 2.69 4.41 6.99
including 503.2 514.2 11.0 0.99 5.34 8.17 106.3 1.63 8.59 14.08 22.35 6.50 10.65 16.91
including 546.7 558.1 11.4 5.86 5.83 3.24 185.4 0.04 12.14 19.90 31.58 9.42 15.44 24.49
including 553.1 556.9 3.8 7.11 9.55 5.70 505.8 0.09 19.16 31.41 49.84 14.29 23.43 37.18
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 1.55 2.55 4.04
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 2.36 3.86 6.13
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 1.90 3.12 4.95
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 2.32 3.81 6.04
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 6.15 10.08 15.99
including 807.0 808.9 2.0 10.72 0.87 0.11 61.8 0.00 11.79 19.32 30.66 10.30 16.89 26.80
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 1.27 2.08 3.30
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 3.50 5.73 9.10
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 2.85 4.68 7.42
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 1.41 2.31 3.67
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 3.77 6.19 9.82
including 849.2 854.7 5.5 14.57 0.66 0.16 37.5 0.03 15.34 25.14 39.89 13.59 22.28 35.36
including 863.8 869.4 5.6 2.29 1.17 0.59 13.1 0.25 3.39 5.55 8.81 2.80 4.59 7.29
including 874.8 877.4 2.6 2.83 0.26 0.03 7.2 0.01 3.06 5.02 7.96 2.69 4.41 7.00
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 1.31 2.15 3.42
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 1.73 2.84 4.50
including 598.9 599.8 0.9 0.50 0.18 11.30 3.0 0.03 4.99 8.17 12.97 4.45 7.29 11.57
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 1.79 2.93 4.65
including 631.2 633.1 1.8 6.30 0.61 0.09 25.0 0.01 6.91 11.32 17.97 6.05 9.91 15.73
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 1.68 2.76 4.38
including 354.0 356.6 2.6 0.23 2.14 7.97 38.9 0.68 5.06 8.29 13.15 4.07 6.67 10.58
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 3.38 5.53 8.78
including 461.2 462.1 0.9 0.15 1.23 16.90 182.0 2.50 9.39 15.38 24.41 7.79 12.77 20.26
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 3.10 5.08 8.06
including 350.4 353.3 2.8 0.77 5.19 6.83 107.0 0.72 7.58 12.42 19.70 5.61 9.20 14.60
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 5.14 8.42 13.36
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 3.49 5.71 9.07
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 1.45 2.37 3.77
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 0.94 1.54 2.45
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 1.92 3.14 4.98
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 1.45 2.38 3.78
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 1.11 1.82 2.89

 

 

The true width of mineralization is estimated to be 50% to 99% of reported core width, with an average of 80%. (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 90% for each of copper, zinc, and lead, and 60% for each of gold and silver. The following equation was used to calculate copper equivalence: CuEq = Copper (%) (90% rec.) + (Gold (g/t) x 0.61)(60% rec.) + (Silver (g/t) x 0.0079)(60% rec.) + (Zinc (%) x 0.3844)(90% rec.) +(Lead (%) x 0.2203)(90% rec.). The following equation was used to calculate gold equivalence: AuEq = Gold (g/t)(60% rec.) + (Copper (%) x 1.638)(90% rec.) + (Silver (g/t) x 0.01291)(60% rec.) + (Zinc (%) x 0.6299)(90% rec.) +(Lead (%) x 0.3609)(90% 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 Continued. 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 Analyzed Metal Equivalent Metal Equivalent (including assumed recoveries)
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-21-48A 538.0 539.5 1.5 0.31 1.17 2.79 29.0 0.52 2.44 4.01 6.36 1.92 3.14 4.99
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 1.92 3.15 5.00
including 687.9 688.8 0.9 0.15 1.53 5.35 5.0 0.01 3.18 5.21 8.27 2.57 4.21 6.68
including 694.9 696.0 1.1 8.36 0.80 0.10 40.0 0.03 9.21 15.10 23.96 8.05 13.19 20.93
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 4.70 7.70 12.22
including 489.5 493.0 3.4 2.64 3.59 9.49 207.7 1.65 10.49 17.20 27.30 8.29 13.59 21.57
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 1.37 2.24 3.56
including 538.1 545.6 7.5 0.28 1.94 2.62 112.8 0.82 3.55 5.81 9.23 2.57 4.21 6.68
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 2.82 4.63 7.35
including 864.7 865.6 0.9 8.70 0.09 0.09 16.0 0.10 8.93 14.64 23.24 7.99 13.09 20.78
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 0.92 1.51 2.40
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 1.44 2.36 3.74
including 898.2 899.3 1.1 6.56 0.11 0.10 15.0 0.04 6.79 11.13 17.67 6.06 9.93 15.75
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 1.76 2.88 4.58
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 1.26 2.06 3.27
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 1.44 2.36 3.75
including 763.7 764.9 1.2 0.38 3.01 8.69 132.0 1.68 6.97 11.43 18.13 5.41 8.87 14.07
including 771.8 774.5 2.7 1.39 2.46 4.59 116.4 1.82 5.98 9.81 15.56 4.66 7.63 12.12
including 781.5 787.6 6.1 0.31 2.63 1.64 119.5 0.65 3.64 5.97 9.47 2.51 4.12 6.53
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 1.57 2.58 4.09
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 2.36 3.86 6.13
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 0.84 1.38 2.19
including 837.0 841.6 4.6 0.03 2.16 1.34 69.0 0.79 2.59 4.24 6.73 1.77 2.90 4.60
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 1.03 1.70 2.69
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 1.66 2.72 4.31
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 3.96 6.48 10.29
including 499.1 500.2 1.1 1.97 0.31 14.55 7.0 0.02 7.81 12.81 20.33 6.96 11.41 18.10
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 0.97 1.59 2.53
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 2.31 3.78 6.00
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 0.81 1.34 2.12
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 2.39 3.91 6.21
including 777.8 778.8 0.9 0.25 6.62 11.45 105.0 3.33 10.26 16.81 26.68 7.77 12.73 20.21
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 3.33 5.47 8.67
including 824.0 827.5 3.5 3.69 4.67 3.81 228.5 0.29 9.88 16.19 25.69 7.49 12.28 19.48
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 2.76 4.52 7.18
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 2.85 4.68 7.42
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 3.46 5.67 9.00
including 762.3 783.3 21.0 0.42 6.78 9.49 67.9 0.49 8.84 14.50 23.00 6.56 10.75 17.06
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 2.00 3.28 5.20
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 4.08 6.69 10.61
including 640.7 648.0 7.3 0.79 4.34 10.20 51.9 0.56 7.90 12.94 20.54 6.19 10.14 16.10
including 668.1 678.6 10.5 5.30 12.19 6.67 194.7 1.88 17.26 28.30 44.90 12.84 21.05 33.40
including 668.1 669.6 1.5 2.55 43.20 7.76 856.0 0.80 38.86 63.69 101.08 25.03 41.02 65.10
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 2.50 4.10 6.51
including 584.3 591.9 7.6 0.29 1.19 6.23 4.4 0.40 3.53 5.79 9.19 2.95 4.84 7.68
including 602.3 613.3 11.0 4.02 0.11 1.38 12.6 0.40 4.80 7.88 12.50 4.27 7.01 11.12
including 630.3 630.9 0.7 1.14 6.35 11.20 356.0 0.65 12.28 20.13 31.95 9.05 14.83 23.53
including 633.5 641.8 8.3 1.53 2.33 5.12 26.5 0.36 5.20 8.53 13.53 4.19 6.87 10.91
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 3.69 6.04 9.59
including 672.5 676.0 3.5 0.12 6.89 6.40 332.0 3.81 10.26 16.82 26.70 7.19 11.78 18.69
including 673.6 674.5 0.9 0.28 19.65 12.65 844.0 10.20 26.07 42.74 67.82 17.86 29.27 46.45
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 3.23 5.29 8.39
including 571.2 582.5 11.3 0.51 5.27 9.96 35.4 1.52 8.18 13.40 21.27 6.31 10.34 16.41
including 605.3 622.7 17.4 3.20 6.19 4.18 40.9 0.22 8.96 14.69 23.31 6.83 11.20 17.78
including 609.6 612.0 2.4 1.45 17.73 7.97 82.5 0.44 16.08 26.35 41.81 11.03 18.07 28.68

 

 

The true width of mineralization is estimated to be 50% to 99% of reported core width, with an average of 80%. (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 ProcessIQ3, were 90% for each of copper, zinc, and lead, and 60% for each of gold and silver. The following equation was used to calculate copper equivalence: CuEq = Copper (%) (90% rec.) + (Gold (g/t) x 0.61)(60% rec.) + (Silver (g/t) x 0.0079)(60% rec.) + (Zinc (%) x 0.3844)(90% rec.) +(Lead (%) x 0.2203)(90% rec.). The following equation was used to calculate gold equivalence: AuEq = Gold (g/t)(60% rec.) + (Copper (%) x 1.638)(90% rec.) + (Silver (g/t) x 0.01291)(60% rec.) + (Zinc (%) x 0.6299)(90% rec.) +(Lead (%) x 0.3609)(90% 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%.

 

Arizona Metals Kay Mine Drill Intercepts Analyzed Grade
Hole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb % Vertical
Depth Below
Surface m
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’ 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 80%. (Graphic: Business Wire)

 

Figure 2. 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 80%. See Table 1 for constituent elements, grades, metals prices and recovery assumptions for AuEq g/t calculations. Analyzed Metal Equivalent calculations are reported for illustrative purposes only. (Graphic: Business Wire)

 

Figure 3. Hole KM-21-58 displaying interval from 667.8 m to 670.5 m downhole, intersecting 1.5 m grading 43.2 g/t Au, 2.6% Cu, 7.8% Zn, and 856 g/t Ag. This is part of a broader 68.4 m interval, from 614.2 m to 682.6 m, grading 6.7 g/t AuEq. See Table 1 for constituent elements, grades, metals prices and recovery assumptions for AuEq g/t calculations. Analyzed Metal Equivalent calculations are reported for illustrative purposes only. (Photo: Business Wire)

 

Figure 4. 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 80%. 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. (Graphic: Business Wire)

 

Posted March 23, 2022

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