ARIZONA METALS CORP. 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.
About
The Company also owns 100% of the Sugarloaf Peak Property, in
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.
Disclaimer
This press release contains statements that constitute 'forward-looking information' (collectively, 'forward-looking statements') within the meaning of the applicable Canadian securities legislation, All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as 'expects', or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', 'forecasts', 'estimates', 'believes' or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would', 'might' or 'will' be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements contained in this press release include, without limitation, statements regarding drill results and future drilling and assays, the resumption of drilling and the effects of the COVID-19 pandemic on the business and operations of the Company. In making the forward- looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: availability of financing; delay or failure to receive required permits or regulatory approvals and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward- looking statements or otherwise.
Contact:
Tel: (416) 565-7689
Email: mpais@arizonametalscorp.com
Web: www.arizonametalscorp.com
(C) 2022 Electronic News Publishing, source
