Arizona Metals Corp. (AMC) is excited to announce the latest drill results from its Kay Mine Project (Kay Project) in Arizona. Fifteen new drill holes, including seven at the Kay Mine Deposit (Kay Deposit) and eight from the North Central exploration target, showcase the project’s potential for growth and exploration.
These recent drill results highlight several key findings:
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Discovery of a New Mineralized Horizon:
Hole KM-24-153 at the North Central target yielded an impressive grade of 11.3% CuEq over 0.5 meters of massive sulfide mineralization. This intercept was found within a broader interval of 5.8 meters exhibiting anomalous copper, zinc, and lead. This high-grade discovery strongly suggests a robust mineralizing system within this area of the project.*
Strong Continuity at the Kay Deposit:
Hole KM-24-159 intersected 41.3 meters grading 1.5 g/t AuEq in the Kay Deposit, including a particularly rich section of 2.9 meters at 10.4 g/t AuEq. This hole, located in the deeper central part of the deposit, demonstrates excellent continuity between previously drilled sections.*
Confirmation of Thickness and Continuity:
Hole KM-24-155A in the Kay Deposit revealed several intervals of noteworthy mineralization, including 12.3 meters at 1.3% CuEq and 11.3 meters at 2.5% CuEq. Notably, this hole also contained a segment grading 4.8% CuEq over 3.7 meters. These results reinforce the significant thickness and continuity of the central portion of the deposit.Duncan Middlemiss, President and CEO of Arizona Metals, commented: “Outstanding drill assay grades from a newly discovered horizon of massive sulfide in the North Central target point to the excellent exploration potential of the Kay Project. We are continuing to drill test this target, while also demonstrating the viability of the Kay Deposit with additional thick intercepts of good grade in support of a mineral resource estimate for the deposit.”
With the completion of these recent drill holes, Arizona Metals has now drilled a total of 117,000 meters on the property. The company is well-positioned financially, boasting $20.6 million in cash as of June 30, 2024.
North Central Target Drilling
Drilling at the North Central target intersected a newly discovered sulfide horizon, the Pad 10 horizon. This horizon extends across the property with a strike length of approximately 1.8 kilometers, exhibiting impressive grades in surface assays, including 10.9% Cu. Drilling along just 400 meters of this horizon’s available strike length resulted in intercepts in five drill holes, including 0.5 meters at 11.3% CuEq in massive sulfide (KM-24-153) and 0.6 meters at 1.7% CuEq (KM-24-151). These impressive grades signal a strong mineralizing system within this portion of the project. Arizona Metals plans to analyze results from four pending drill holes and continues to investigate the potential for greater thicknesses along this newly discovered mineral horizon.
Kay Project Horizon
Drilling at the North Central target is also focused on the extension of the Kay Project mineral horizon, which spans a significant 3 kilometers along its folded extent. The Kay Project horizon shows high grades at surface, including 11.7% Cu (Adit target) and 9.5% Cu (Kay North Extension).
Kay Mine Project Overview
Arizona Metals Corp owns 100% of the Kay Project in Yavapai County, encompassing 1,300 acres of patented and BLM claims. This project is 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.” It’s important to note that this historic estimate has not been verified as a current mineral resource.
The Kay Mine is a steeply dipping VMS deposit extending from a depth of 60 meters to at least 900 meters. It holds potential for further expansion along strike and at depth.
Sugarloaf Peak Property
Beyond the Kay Project, Arizona Metals also owns 100% of the Sugarloaf Peak Property in La Paz County, covering 4,400 acres of BLM claims. Sugarloaf presents an open-pit, heap-leach target and boasts a historic estimate of “100 million tons containing 1.5 million ounces gold” at a grade of 0.5 g/t. Similar to the Kay Mine historic estimate, the Sugarloaf Peak Property historic estimate has not been verified as a current mineral resource.
Quality Assurance/Quality Control
All of Arizona Metals’ drill sample assay results have been subject to rigorous independent monitoring through a comprehensive quality assurance/quality control (QA/QC) protocol. This protocol includes the regular insertion of blind standard reference materials and blanks. Logging and sampling were conducted at Arizona Metals’ core handling facilities in Phoenix 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 subsequently sent to ALS’s labs in Vancouver, Canada, for analysis. ALS Laboratories, independent of Arizona Metals Corp., operates an ISO 17025 accredited facility in Vancouver. They also implement their own internal QA/QC procedures to ensure the accuracy and integrity of results.
Disclaimer:
Please note that this press release contains forward-looking statements, which are based on current expectations, estimates, and projections. These statements are subject to inherent risks and uncertainties, and actual results may differ materially.
