Arizona Metals Corp Announces Discovery of New Gold-Zinc Zone at the Kay Mine: Hole 25 intersects 79 m of 7.0 g/t AuEq (incl. 9 m of 18.1 g/t AuEq and 11 m of 14.7 g/t AuEq)

Rhea-AI Summary

Arizona Metals Corp. announced a significant discovery of a new gold-rich zone at the Kay Mine, with all seven recent drill holes intersecting massive sulphide mineralization. Highlights include Hole 25, which revealed 79 m of 7.0 g/t AuEq and Hole 24 with 91 m of 4.7 g/t AuEq. The new high-grade intervals are located outside the historic resource area, indicating substantial potential for additional gold-zinc mineralization. The company plans to continue drilling and expand exploration into underexplored regions, with increased drill rig capacity and ongoing permitting efforts.

Positive

• Discovery of new gold-rich zone at Kay Mine, indicating potential for substantial additional resources.
• Drilling results show significant AuEq grades: Hole 25 at 79 m of 7.0 g/t and Hole 24 at 91 m of 4.7 g/t.
• New high-grade intervals located outside historic resource areas suggest underexplored potential.
• Increased drilling capacity with the addition of a third drill rig to expedite exploration.
• Ongoing permitting progress will support further drilling at Central and Western targets.

Negative

• None.

Arizona Metals Corp. (TSX.V:AMC, OTCQX:AZMCF) (the “Company” or “Arizona Metals”) is pleased to announce the discovery of a new gold-rich zone of open-ended mineralization at the Kay Mine, in an area previously untested by historic drilling or exploration. In addition, all seven recently completed holes at the Kay Mine project in Yavapai County, Arizona, intersected massive sulphide mineralization.

Figure 1. Section view looking north. See Tables 1 and 2 for constituent elements and grades of CuEq% and AuEq g/t. (Photo: Business Wire)

Hole 25 intersected 79 m of 7.0 g/t AuEq, including two separate higher-grade intervals of 9 m grading 18.1 g/t AuEq and 11 m grading 14.7 g/t AuEq, from a vertical depth of 638 m.

Hole 24 intersected 91 m of 4.7 g/t AuEq, including two separate higher-grade intervals of 20 m grading 9.2 g/t AuEq and 16 m grading 6.8 g/t AuEq, from a vertical depth of 470 m. This hole also intersected a high-grade interval of 0.8 m grading 33.4 g/t AuEq (Figure 3).

The bulk of the mineralized intervals in holes 25 and 24 are located between the North and South Zones (Figure 1), outside of the area defined in the historic estimate by Exxon. Historical records show very little exploration in this area by Exxon, or other previous operators. Hole 24 was drilled 104 m deeper than hole 21A which also intersected a broad zone of 65 metres of semi- to massive sulphides (assays pending), and hole 25 is 276 m deeper than 21A. These newly defined, wide, high-grade intervals demonstrate the potential to add a significant tonnage of gold-zinc mineralization outside of the historic resource, which is predominantly copper-gold in composition.

In addition to the new discovery of the gold-zinc zone in holes 24, 25 holes 17, 18, 18A, 21 and 23 returned wide intervals of copper and gold in the South Zone area, extending the plunge of the hinge zone defined by Phase 1 drilling. Some highlights include:

• Hole 18A, which intersected 32.5 m of 3.5 g/t AuEq
• Hole 21, which intersected 42.8 m of 3.2 g/t Au Eq, including 4.8 m grading 6.7 g/t AuEq
• Hole KM-21-17, which intersected 20 m of 3.0% CuEq (incl. 4.6 m of 6.4% CuEq). This hole is located 41 m above hole KM-20-13 drilled in 2020, which intersected 43 m grading 3.9% CuEq, including 15 m at a grade of 6.7% CuEq.

Marc Pais, CEO, commented “It is very common in VMS districts for deposits to show distinct zonation of copper-rich mineralization, alternating with gold-zinc mineralization. The historical record of the Kay Mine shows an almost exclusive focus by previous operators on the copper-rich mineralization, with exploration focused on depths above 450 m.

The new broad intervals of high-grade gold-zinc mineralization reported today, of 79 m in hole 25 and 91 m in hole 24, define 276 m of vertical plunge below hole 21A (for which assays are pending), in an area between the North and South Zones that make up the historic resource. This area was not historically explored and is open for expansion at depths below 450 m.

These discovery holes demonstrate the potential to define a significant tonnage of gold-rich zinc VMS mineralization, outside of the historic resource defined by Exxon in 1982. Drilling at Kay continues to confirm that the deposit was historically underexplored, despite being part of a rich mineralized system. Based on copper prices of under US$1.00/lb during the 1970s and 1980s, Exxon’s exploration work employed a cut-off grade of 2.5% CuEq.

We believe that as a result, historic exploration overlooked large areas of mineralization in the immediate vicinity of both the Kay historic estimate and surroundings. This will become even more important as we move the drills north and south on strike, to recently completed pads. On completion of the strike testing, the drills will move west to the Central and Western targets, to test for new satellite deposits in previously undrilled areas.”

Additional results include hole KM-21-18, which intersected 25.5 m of 2.7 g/t AuEq, from a depth of 255 m.

In the North Zone, hole KM-21-19 intersected an interval of 0.5 m at a grade of 17 g/t AuEq, from a vertical depth of 337 m. Hole KM-21-20 intersected 0.9 m of 7.1 g/t AuEq and 2.1 m of 3.1 g/t AuEq, from a vertical depth of 362 m. Drilling is currently underway to target an area laterally between holes 19 and 20, which the Company believes has the potential to host a North Zone hinge, similar to the thick hinge encountered in recent South Zone drilling.

Holes KM-21-21A, KM-21-25A, KM-21-25B, KM-21-26, and KM-21-27 have been completed and submitted to ALS Laboratories of Tucson, Arizona for assaying. These holes were drilled to test for the down-plunge and lateral extensions of the broad intervals of gold-zinc mineralization encountered in the holes announced today.

Kay Mine Permitting Update and Addition of Third Drill Rig

Permitting and bonding for Kay Mine strike extension pads 4, 5, 6 were completed in March 2021, and pad construction was recently completed. Permitting for pad and road construction to test the Central and Western Targets was subject to Covid-19 related delays, but is now progressing well again, with drilling expected at these targets later this year. A third drill rig is scheduled to arrive at site later this month, and will start drilling at pad 4, located 500m north of the Kay Mine.

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.

Webinar on Thursday, May 27^th, 2021 at 11am ET: Please join Company management to discuss today’s results. Register here:

https://us02web.zoom.us/webinar/register/WN_2OnNWvi8Rjadug-QuHkV0Q

Table 1. Results of Phase 2 Drill Program at Kay Mine, Yavapai County, Arizona

Hole ID		From m		To m		Length m		Cu eq %		Au eq g/t		Zn eq%		Au g/t		Ag g/t		Cu %		Pb %		Zn %		Vertical Depth Below Surface m
KM-21-17		429.5		449.9		20.4		2.99		5.27		10.34		1.10		21.2		1.81		0.17		1.20		300
including		429.5		434.0		4.6		6.44		11.34		22.26		1.73		29.1		4.61		0.24		1.91
including		432.7		434.0		1.4		7.35		12.94		25.39		6.81		40.0		0.52		1.10		8.29
KM-21-17		504.4		505.4		0.9		3.96		6.98		13.70		4.73		9.0		1.19		0.00		0.05		356
KM-21-18		404.3		429.8		25.5		1.51		2.66		5.23		0.86		15.8		0.35		0.23		1.71		255
including		408.6		410.6		2.0		4.57		8.05		15.80		2.22		64.4		0.50		0.82		7.25
including		424.9		427.3		2.4		4.25		7.49		14.70		2.59		18.0		1.60		0.52		3.16
KM-21-18A		391.4		423.8		32.5		1.99		3.50		6.86		0.62		17.6		1.09		0.15		1.25		233
including		393.3		395.8		2.4		12.37		21.79		42.75		2.83		40.9		9.57		0.28		2.72
KM-21-19		377.8		378.3		0.5		9.75		17.16		33.68		5.59		128.0		3.39		0.63		6.83		337
KM-21-20		442.7		443.6		0.9		4.05		7.14		14.01		0.52		18.5		2.56		0.14		3.52		362
KM-21-20		456.0		458.1		2.1		1.79		3.15		6.17		0.35		6.0		1.49		0.04		0.14		370
KM-21-21		452.6		495.5		42.8		1.84		3.23		6.35		0.78		15.1		0.80		0.15		1.52		362
including		488.7		493.5		4.8		3.80		6.69		13.13		2.50		27.6		0.26		0.54		6.13
KM-21-21A		422.0		431.4		9.4		2.29		4.04		7.92		0.57		8.6		1.17		0.36		2.25		362
KM-21-21A		439.1		502.1		63.0		2.75		4.85		9.52		1.30		58.8		0.45		0.77		3.14		366
including		465.0		481.9		16.9		3.99		7.02		13.78		2.47		80.9		0.52		0.99		4.05
KM-21-23		394.4		401.4		7.0		1.82		3.20		6.29		0.93		13.5		0.36		1.17		1.94		313
KM-21-23		438.6		459.2		20.6		1.73		3.04		5.96		1.20		27.8		0.17		0.37		1.93		336
KM-21-24		501.2		592.1		90.8		2.65		4.67		9.17		1.33		44.3		0.45		0.41		3.42		470
including		501.2		521.7		20.4		5.23		9.21		18.07		1.70		113.1		1.34		0.66		6.35
including		520.9		521.7		0.8		18.95		33.37		65.47		16.50		574.0		1.75		1.22		9.55
including		575.9		592.1		16.2		3.85		6.78		13.31		2.50		44.4		0.16		0.79		6.00
including		588.7		590.4		1.7		13.17		23.20		45.52		9.98		18.2		0.47		0.13		23.70
KM-21-25		662.6		741.3		78.6		3.98		7.01		13.76		2.33		43.4		1.41		0.35		2.79		638
including		663.2		672.7		9.4		10.29		18.12		35.55		1.84		92.3		8.06		0.15		1.31
including		693.0		703.9		11.0		8.34		14.68		28.81		6.28		99.7		0.68		1.17		10.40

(1) True widths of the reported mineral intervals have not been determined; additional drilling is required.

(2) Assumptions used in USD for the copper equivalent calculation were metal prices of $4.70/lb Copper, $1830/oz Gold, $27/oz Silver, $1.36/lb Zinc, $1.00/lb Pb and recovery is assumed to be 100% as no metallurgical test data is available. The following equation was used to calculate copper equivalence: CuEq = Copper (%) + (Gold (g/t) x 0.57) + (Silver (g/t) x 0.0084) + (Zinc (%) x 0.2894) +(Lead (%) x 0.2128).

Table 2. Results of Phase 1 Drill Program at Kay Mine, Yavapai County, Arizona

Hole ID		From m		To m		Length m		Cu eq %		Au eq g/t		Zn eq%		Au g/t		Ag g/t		Cu %		Pb %		Zn %		Vertical Depth Below Surface m
KM-20-01		275.8		281.5		5.6		1.70		1.61				0.48		11.6		0.57		0.18		1.20		156
including		275.8		276.5		0.6		4.23		4.01				1.22		32.0		0.50		0.73		5.04
including		279.8		281.5		1.6		3.10		2.94				0.98		22.6		1.21		0.23		1.49
KM-20-02		297.8		300.8		3.0		1.01		0.96				0.20		1.4		0.77		0.01		0.04		172
KM-20-03		256.3		259.1		2.7		5.41		5.13				1.01		69.6		3.40		0.09		0.65		120
including		256.3		257.3		0.9		10.32		9.78				1.79		56.0		7.42		0.17		1.11
KM-20-03		292.2		292.6		0.5		2.72		2.57				0.19		2.0		2.43		0.04		0.15		152
KM-20-03		295.4		295.8		0.5		2.61		2.47				0.80		6.0		1.35		0.06		0.91		154
KM-20-03A		252.4		256.9		4.6		6.85		6.49				2.55		35.6		3.70		0.03		0.27		122
including		252.4		253.1		0.8		18.19		17.24				6.34		164.0		9.74		0.11		0.40
KM-20-05		266.6		269.0		2.4		9.19		8.71				1.94		43.3		6.47		0.14		0.57		150
including		266.6		267.8		1.2		13.89		13.16				2.21		50.0		10.60		0.26		1.05
KM-20-06		267.9		281.5		13.5		2.92		2.77				0.85		45.6		1.02		0.30		1.23		158
including		267.9		268.4		0.5		6.73		6.38				2.20		31.0		1.54		0.81		6.10
including		276.6		281.5		4.9		4.54		4.30				0.87		92.1		1.86		0.42		1.96
including		280.0		281.0		1.1		7.82		7.41				1.03		340.0		3.22		0.04		0.64
KM-20-09		588.1		588.4		0.3		3.72		3.52				1.74		15.0		0.91		0.40		1.86
KM-20-09		613.4		614.1		0.7		3.32		3.15				1.81		10.0		0.90		0.08		1.04
KM-20-09		614.6		614.9		0.3		3.60		3.41				0.36		19.0		2.64		0.10		0.98
KM-20-09		632.8		638.9		6.1		8.23		7.80				4.18		41.7		0.12		0.82		8.02		575
including		633.6		637.9		4.4		9.81		9.29				5.46		33.1		0.15		0.50		9.06
including		636.9		637.9		1.1		16.92		16.03				9.77		68.0		0.17		0.78		14.65
KM-20-10		563.6		568.5		4.9		6.24		5.92				2.16		24.9		2.39		0.31		3.27		490
including		563.6		566.6		3.0		7.78		7.38				2.42		28.2		3.66		0.32		3.16
including		567.2		568.5		1.2		5.33		5.05				2.52		28.4		0.33		0.43		5.10
KM-20-10		574.2		574.9		0.6		10.09		9.56				4.33		113.0		0.12		0.16		11.30		498
KM-20-10		577.7		579.3		1.6		3.09		2.93				0.70		45.9		0.03		0.68		4.38		500
KM-20-10		582.3		583.1		0.8		2.42		2.29				0.42		51.0		0.03		1.07		2.90		502
KM-20-10A		521.2		522.5		1.3		7.07		6.70				1.27		51.1		2.13		0.91		7.46		437
KM-20-10A		527.9		538.6		10.7		4.40		4.17				1.66		27.2		1.32		0.30		2.58		442
including		527.9		529.4		1.5		8.59		8.14				0.92		30.2		6.69		0.07		1.62
including		532.2		535.3		3.1		4.17		3.95				1.75		34.3		0.72		0.42		2.99
including		537.2		538.6		1.4		12.24		11.60				7.29		79.2		0.16		0.60		9.06
KM-20-10B		503.0		530.7		27.6		2.87		2.72				0.97		21.3		0.87		0.32		1.76		423
including		503.0		509.6		6.6		4.79		4.54				1.55		29.8		1.78		0.37		2.55
including		513.9		518.3		4.4		5.29		5.01				1.89		47.4		1.08		0.68		4.05
including		527.2		530.7		3.5		6.68		6.33				2.32		52.9		1.91		0.99		3.93
KM-20-10C		523.9		530.7		6.8		7.65		7.25				3.32		102.0		0.58		1.15		5.84		422
including		523.9		528.2		4.3		10.60		10.05				4.89		125.2		0.88		1.45		7.61
including		525.6		526.4		0.8		29.15		27.62				16.65		214.0		0.52		2.76		21.40
KM-20-11		554.1		556.9		2.7		9.23		8.75				2.83		70.0		4.14		0.28		3.56		490
KM-20-12		371.9		376.7		4.9		4.76		4.51				0.37		12.4		3.99		0.07		0.62		318
including		371.9		373.7		1.9		10.10		9.57				0.67		28.0		8.49		0.16		1.53
KM-20-12		379.5		405.4		25.9		0.87		0.82				0.08		2.3		0.73		0.01		0.08		326
KM-20-13		443.6		486.8		43.1		3.94		3.73				1.26		23.3		1.68		0.24		1.67		341
including		444.4		459.6	{ "@context": "https://schema.org", "@type": "FAQPage", "name": "Arizona Metals Corp Announces Discovery of New Gold-Zinc Zone at the Kay Mine: Hole 25 intersects 79 m of 7.0 g/t AuEq (incl. 9 m of 18.1 g/t AuEq and 11 m of 14.7 g/t AuEq) FAQs", "mainEntity": [ { "@type": "Question", "name": "What were the significant findings from Arizona Metals Corp's recent drilling at Kay Mine (AZMCF)?", "acceptedAnswer": { "@type": "Answer", "text": "The recent drilling revealed a new gold-rich zone with highlights such as Hole 25 intersecting 79 m of 7.0 g/t AuEq and Hole 24 showing 91 m of 4.7 g/t AuEq." } }, { "@type": "Question", "name": "What is the potential for resource expansion at Kay Mine based on the latest press release from AZMCF?", "acceptedAnswer": { "@type": "Answer", "text": "The new high-grade intervals suggest significant potential for expanding resources beyond the historic estimates, particularly in previously underexplored areas." } }, { "@type": "Question", "name": "What are Arizona Metals Corp's plans for further exploration at Kay Mine (AZMCF)?", "acceptedAnswer": { "@type": "Answer", "text": "The company plans to continue drilling to explore new zones, with an increased number of drill rigs and progress in permitting for additional drilling sites." } }, { "@type": "Question", "name": "How has the drilling program at Kay Mine impacted Arizona Metals Corp's stock outlook (AZMCF)?", "acceptedAnswer": { "@type": "Answer", "text": "The positive drilling results and discovery of a new gold-rich zone may enhance investor confidence and support a favorable stock outlook for AZMCF." } }, { "@type": "Question", "name": "What was the depth of the newly discovered gold-rich zone at Kay Mine (AZMCF)?", "acceptedAnswer": { "@type": "Answer", "text": "The newly discovered zone is noted to be open-ended, with significant intercepts at depths exceeding 450 m, as evidenced by drill holes 24 and 25." } } ] } FAQ What were the significant findings from Arizona Metals Corp's recent drilling at Kay Mine (AZMCF)? The recent drilling revealed a new gold-rich zone with highlights such as Hole 25 intersecting 79 m of 7.0 g/t AuEq and Hole 24 showing 91 m of 4.7 g/t AuEq. What is the potential for resource expansion at Kay Mine based on the latest press release from AZMCF? The new high-grade intervals suggest significant potential for expanding resources beyond the historic estimates, particularly in previously underexplored areas. What are Arizona Metals Corp's plans for further exploration at Kay Mine (AZMCF)? The company plans to continue drilling to explore new zones, with an increased number of drill rigs and progress in permitting for additional drilling sites. How has the drilling program at Kay Mine impacted Arizona Metals Corp's stock outlook (AZMCF)? The positive drilling results and discovery of a new gold-rich zone may enhance investor confidence and support a favorable stock outlook for AZMCF. What was the depth of the newly discovered gold-rich zone at Kay Mine (AZMCF)? The newly discovered zone is noted to be open-ended, with significant intercepts at depths exceeding 450 m, as evidenced by drill holes 24 and 25. ARIZONA METALS CORP OTC:AZMCF AZMCF Rankings N/A Ranked by Market Cap N/A Ranked by Dividends AZMCF Latest News Nov 4, 2024 CEO.CA's Inside The Boardroom: Latest Commodity News Oct 10, 2024 CEO.CA's Inside The Boardroom: Latest Mining News Apr 11, 2023 Arizona Metals’ First Drill Hole at the Western Target Intersects a Broad Interval of 63 Metres of Sulphide-Bearing Core, Including 16 Metres of VMS Mineralization Apr 5, 2023 Arizona Metals Intersects Copper-Gold-Zinc Mineralization 600 Metres North of Central Target; Kay Mine Deposit Extensional Drilling Hits 8.8 m of 4.8% CuEq Feb 15, 2023 Arizona Metals Corp. Commences Drilling at the Western Target AZMCF Stock Data Market Cap 145.14M Float 99.15M Insiders Ownership 8.72% Institutions Ownership 13.74% Industry Other Industrial Metals & Mining Sector Basic Materials Website Link Country United States of America City Toronto Explore About Rhea-AI Sitemap Legal Terms of Use Cookie Notice Privacy Policy Links RSS feed Patreon Discord Server Facebook Reddit Google News © 2020-2024 StockTitan.net