Arizona Metals Intersects 25.0 m grading 2.7% CuEq (incl. 3.2 m at 6.3% CuEq) and 49.2 m grading 2.4% CuEq (incl. 10.4 m at 6.4% CuEq) at the Kay Mine Deposit
/NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES/
TORONTO, June 26, 2023 /CNW/ - Arizona Metals Corp. (TSX: AMC) (OTCQX: AZMCF) (the "Company" or "Arizona Metals") is pleased to announce the latest drilling results from its Kay Mine Deposit in Arizona.
Figure 1. Cross-section view looking north at the Kay Mine Deposit, showing assay intervals in drilling reported in this release. 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 76%. (CNW Group/Arizona Metals Corp.)
Figure 2. Long section view looking north showing assay intervals for hole KM-23-106 in the Kay Mine Deposit. 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 76%. (CNW Group/Arizona Metals Corp.)
Figure 3. Long section displaying new drill hole intervals reported in this release (labels highlighted yellow). See Tables 1-3 for additional details. The true width of mineralization in this area is yet to be determined. 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. (CNW Group/Arizona Metals Corp.)
Figure 4. Core from hole KM-23-106 between 559.8 m and 562.4 m downhole, which is part of a broader interval of 10.4 m grading 5.1% copper, 3.1 g/t gold, 0.5 % zinc, and 23 g/t silver. See Table 1 for constituent elements, grades, metals prices and recovery assumptions used for CuEq % calculations. Analyzed metal equivalent calculations are reported for illustrative purposes only. (CNW Group/Arizona Metals Corp.)
Figure 5. Plan view displaying drill holes completed and underway at the Western Target, as well as results of recent outcrop surface sampling north of the Western Target EM Conductivity Anomaly. See Table 5 below of sample assay details. (CNW Group/Arizona Metals Corp.)
Figure 6. Cross section of the Western Target looking north, showing current and completed drill holes and mineralization intersected in drill hole KM-23-104. (CNW Group/Arizona Metals Corp.)
Hole KM-23-106 intersected 25.0 meters grading 2.7% copper equivalent (CuEq), including 3.2 meters at 6.3% CuEq. At 17 m further downhole, this hole also intersected 49.2 meters at 2.4% CuEq (including 10.4 meters at 6.4% CuEq). At a further 10 m downhole, this hole also intersected 5.2 m at 1.0% CuEq. This hole confirms the high-grade copper and gold mineralization previously encountered in hole KM-21-21A, located 30 meters above, which intersected 63 m grading 4.2 g/t AuEq. Moreover, it continues the mineralization 30 meters above hole KM-22-41, which intersected 96.7 m grading 2.9% CuEq.
In addition to these promising results, drilling at the Western Target has been ongoing since February 2023. The first four holes, KM-23-104, branch hole KM-23-104A, KM-23-107, and KM-23-108 have been completed, and assays are currently pending. In order to continue testing the strike extent of the West Target, hole KM-23-109 is targeting an area approximately 150 meters south of KM-23-104. Hole KM-23-110 will target the area between holes KM-23-104 and KM-23-107, with the goal of testing beneath recently reported high-grade surface samples (see Fig. 5).
The drill rig at the Kay Mine Deposit is targeting extensions of the high-grade mineralization encountered in hole KM-23-103, which intersected 10.5 m grading 6.2% CuEq. This rig will also focus on areas with lower drill density, including the northern part of the deposit and shallow areas above a depth of 200 meters (see Fig. 3). The Company intends to drill test all areas open to expansion. See Figure 3 for priority target areas for drilling. Independent consulting firms have been engaged to model drill data as holes are completed and assays become available. The Company intends to complete drilling of all priority targets before finalizing a maiden resource estimate.
Marc Pais, CEO, commented"The high-grade copper and gold drill results reported today continue to demonstrate the expansion potential of the Kay Mine Deposit, which we believe is part of a much larger property-wide mineralized system. We are also pleased to report that drilling of the fifth and sixth holes at the Western Target has commenced, following up visual mineralization previously reported in holes 104 and 104A. Downhole electromagnetic surveying of the first two Western Target holes has been completed and data are currently being analyzed. Surface outcrop sampling at the Western Target has returned significant grades of both copper and gold, extending the strike length of mineralization exposed at surface in this area to approximately 800 meters."
With the completion of recent drill holes, Arizona Metals has drilled a total of 83,400 meters on the Kay property, and successfully completed its Phase 2 drill program of 75,000 meters. The Company is fully-funded (with $49 million in cash as of March 31, 2023) to complete the remaining 75,000 m of the 76,000-meter Phase 3 program (budgeted at $31.5 million), which will be used to test the numerous parallel targets heading west of the Kay Mine Deposit, as well as possible northern and southern extensions.
Permitting Update
The Company currently has 11 drill pads permitted through the Bureau of Land Management (BLM) under a Notice of Intent to Explore. All permits are fully bonded and in good standing. Last week BLM staff conducted an annual inspection of the Kay project, verifying that the Company is in compliance with all permitted activities. Recently completed structural mapping and soil sampling programs have identified a number of new, highly prospective targets not previously located by geophysical methods. The Company is currently mapping a number of new drill pads to test these targets and will be applying to the BLM for an Exploration Plan of Operations. This more expansive permit will allow for additional roads and drill pads giving the Company the ability to test these additional targets.
West Target Surface Sampling
Recent surface mapping and sampling on the West target (Figure 5) has extended the mineralized horizon that was drilled in holes 104 and 104A and previously sampled at surface, where it returned 8.6% Cu. Nine new surface samples all returned percent-grade Cu, up to 4.9% Cu, and averaging 2.9% Cu. These samples also contained anomalous Au, up to 0.5 g/t Au. The surface strike length of mineralization exposed at surface in this area is now approximately 800 m. These surface samples suggest increasing intensity of mineralization to the north; along with data gathered in the drill holes completed and underway, these results will be used to refine drill targeting on the West Target.
Shareholder Update Webinar
The Company will host a virtual-only shareholder update webinar on Monday, July 17, 2023, from 11-12am EST.
The shareholder update webinar will be facilitated by Marc Pais, CEO and Morgan Knowles, Vice President, Investor Relations who will review the Company's most recent drilling results as well as discuss milestones, financial strength, and the outlook for the remainder of the fiscal year. The Company's CEO, Marc Pais, and VP Investor Relations, Morgan Knowles will facilitate pre-submitted and live-chat questions and answers.
Table 1. Results of Phase 2 Drill Program at the Kay Mine Project, Yavapai County, Arizona announced in this news release.
Analyzed Grade
Analyzed Metal Equivalent
Metal Equivalent
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-23-106
476.3
501.2
25.0
0.37
1.61
3.68
33.4
0.90
3.23
5.30
8.41
2.71
4.44
7.04
including
491.0
494.2
3.2
1.13
3.86
8.53
63.5
1.03
7.50
12.29
19.51
6.29
10.30
16.35
including
500.3
501.2
0.9
0.43
15.15
2.70
272.0
3.62
13.67
22.40
35.55
10.10
16.55
26.26
KM-23-106
517.4
566.6
49.2
1.15
1.19
1.71
14.4
0.44
2.75
4.50
7.15
2.35
3.86
6.13
including
556.3
566.6
10.4
5.10
3.05
0.47
22.6
0.01
7.33
12.01
19.06
6.35
10.40
16.51
KM-23-106
576.1
581.3
5.2
0.02
1.37
0.61
20.5
0.24
1.31
2.14
3.40
0.99
1.62
2.57
The true width of mineralization is estimated to be 50% to 99% of reported core width, with an average of 76%. (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 93% for copper, 92% for zinc, 90% for lead, 72% silver, and 70% for gold. The following equation was used to calculate copper equivalence: CuEq = Copper (%) (93% rec.) + (Gold (g/t) x 0.61)(72% rec.) + (Silver (g/t) x 0.0079)(72% rec.) + (Zinc (%) x 0.3844)(93% rec.) +(Lead (%) x 0.2203)(93% rec.). The following equation was used to calculate gold equivalence: AuEq = Gold (g/t)(72% rec.) + (Copper (%) x 1.638)(93% rec.) + (Silver (g/t) x 0.01291)(72% rec.) + (Zinc (%) x 0.6299)(93% rec.) +(Lead (%) x 0.3609)(93% 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 the Kay Mine Deposit, Yavapai County, Arizona.
Analyzed Grade
Analyzed Metal Equivalent
Metal Equivalent
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
2.73
4.47
7.10
including
429.5
434.0
4.6
4.61
1.73
1.91
29.1
0.24
6.68
10.96
17.39
5.92
9.70
15.39
including
432.7
434.0
1.4
0.52
6.81
8.29
40.0
1.10
8.41
13.79
21.89
6.76
11.09
17.60
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
3.20
5.24
8.31
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
1.43
2.35
3.72
including
408.6
410.6
2.0
0.50
2.22
7.25
64.4
0.82
5.33
8.74
13.87
4.51
7.39
11.72
including
424.9
427.3
2.4
1.60
2.59
3.16
18.0
0.52
4.66
7.64
12.12
3.92
6.43
10.21
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
1.85
3.04
4.82
including
393.3
395.8
2.4
9.57
2.83
2.72
40.9
0.28
12.73
20.87
33.12
11.36
18.63
29.56
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
8.81
14.44
22.92
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
3.98
6.52
10.34
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
1.63
2.66
4.23
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
1.73
2.83
4.49
including
488.7
493.5
4.8
0.26
2.50
6.13
27.6
0.54
4.48
7.34
11.65
3.74
6.13
9.73
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
2.25
3.68
5.85
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
2.57
4.21
6.67
including
465.0
481.9
16.9
0.52
2.45
4.05
80.9
0.99
4.43
7.26
11.53
3.62
5.94
9.42
KM-21-22
679.4
682.8
3.4
0.79
0.95
0.06
12.0
0.01
1.49
2.44
3.87
1.23
2.01
3.20
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
1.73
2.84
4.51
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
1.58
2.59
4.11
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
2.53
4.15
6.59
including
501.2
521.7
20.4
1.34
1.70
6.35
113.1
0.66
5.86
9.60
15.24
4.99
8.18
12.99
including
520.9
521.7
0.8
1.75
16.50
9.55
574.0
1.22
20.31
33.29
52.82
15.57
25.52
40.50
including
575.9
592.1
16.2
0.16
2.50
6.00
44.4
0.79
4.51
7.40
11.74
3.75
6.14
9.74
including
588.7
590.4
1.7
0.47
9.98
23.70
18.2
0.13
15.84
25.96
41.20
13.21
21.65
34.36
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
3.61
5.92
9.40
including
663.2
672.7
9.4
8.06
1.84
1.31
92.3
0.15
10.45
17.13
27.18
9.30
15.24
24.19
including
693.0
703.9
11.0
0.68
6.28
10.40
99.7
1.17
9.56
15.66
24.86
7.79
12.77
20.27
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
2.71
4.43
7.04
including
655.5
662.8
7.3
3.66
2.09
1.85
30.2
0.21
5.93
9.73
15.44
5.17
8.47
13.44
including
710.8
716.9
6.1
2.72
7.95
3.73
37.4
0.31
9.37
15.36
24.38
7.52
12.33
19.56
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
1.70
2.79
4.42
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
1.75
2.88
4.56
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
2.20
3.61
5.72
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
2.01
3.29
5.23
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
1.93
3.16
5.01
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
3.21
5.27
8.36
including
511.1
526.1
14.9
0.73
1.78
9.68
43.3
0.77
6.05
9.92
15.74
5.26
8.63
13.69
including
573.8
582.8
9.0
4.02
6.06
3.32
18.2
0.19
9.18
15.04
23.87
7.64
12.52
19.87
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
1.85
3.03
4.80
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
2.97
4.87
7.73
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
2.15
3.52
5.59
including
666.3
687.0
20.7
3.21
1.39
1.26
19.4
0.20
4.74
7.77
12.33
4.18
6.84
10.86
including
706.4
724.6
18.3
0.69
2.69
4.70
92.2
1.21
5.13
8.41
13.35
4.22
6.91
10.97
including
752.9
763.8
11.0
0.07
1.07
4.68
95.3
0.98
3.49
5.73
9.09
2.92
4.78
7.59
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
3.31
5.42
8.61
including
702.0
723.0
21.0
0.87
4.56
9.03
81.5
1.10
8.01
13.13
20.83
6.63
10.87
17.25
including
723.0
738.2
15.2
4.97
0.36
0.42
18.7
0.05
5.51
9.03
14.33
5.04
8.26
13.11
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
5.04
8.26
13.12
including
660.2
671.6
11.4
0.54
4.29
9.30
32.2
1.17
7.24
11.87
18.84
6.04
9.89
15.70
including
681.1
689.0
7.9
4.39
9.47
10.34
93.1
2.41
15.42
25.27
40.10
12.80
20.98
33.29
including
690.4
692.6
2.2
16.06
0.82
0.06
55.8
0.01
17.02
27.90
44.28
15.62
25.61
40.64
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
2.89
4.74
7.53
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
1.12
1.83
2.91
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
3.41
5.60
8.88
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
1.90
3.12
4.95
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
2.22
3.63
5.76
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
4.19
6.86
10.89
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
1.65
2.70
4.29
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
3.03
4.96
7.87
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
2.33
3.82
6.06
including
609.6
613.0
3.4
1.39
1.69
1.98
54.0
0.01
3.61
5.92
9.40
3.03
4.96
7.87
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
4.42
7.24
11.49
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
2.78
4.56
7.23
including
470.0
475.2
5.2
0.12
2.44
5.68
87.5
1.79
4.88
8.01
12.71
4.02
6.59
10.46
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
5.46
8.95
14.21
including
589.8
597.9
8.1
7.63
0.43
0.39
27.1
0.17
8.30
13.60
21.58
7.61
12.47
19.78
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
3.17
5.20
8.25
including
641.1
648.3
7.2
1.15
7.66
8.27
88.5
0.92
9.90
16.23
25.76
7.95
13.03
20.68
including
670.3
674.1
3.8
1.53
10.89
9.47
24.6
0.61
12.15
19.91
31.59
9.69
15.88
25.19
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
2.87
4.71
7.47
including
503.2
514.2
11.0
0.99
5.34
8.17
106.3
1.63
8.59
14.08
22.35
7.02
11.51
18.26
including
546.7
558.1
11.4
5.86
5.83
3.24
185.4
0.04
12.14
19.90
31.58
10.15
16.64
26.40
including
553.1
556.9
3.8
7.11
9.55
5.70
505.8
0.09
19.16
31.41
49.84
15.62
25.59
40.62
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
1.73
2.83
4.49
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
2.56
4.20
6.67
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
2.05
3.37
5.34
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
2.58
4.22
6.70
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
6.43
10.54
16.72
including
807.0
808.9
2.0
10.72
0.87
0.11
61.8
0.00
11.79
19.32
30.66
10.74
17.60
27.93
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
1.34
2.20
3.49
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
3.74
6.13
9.72
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
2.99
4.90
7.77
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
1.49
2.45
3.88
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
3.93
6.44
10.23
including
849.2
854.7
5.5
14.57
0.66
0.16
37.5
0.03
15.34
25.14
39.89
14.11
23.12
36.70
including
863.8
869.4
5.6
2.29
1.17
0.59
13.1
0.25
3.39
5.55
8.81
2.96
4.85
7.70
including
874.8
877.4
2.6
2.83
0.26
0.03
7.2
0.01
3.06
5.02
7.96
2.80
4.59
7.28
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
1.40
2.30
3.65
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
1.79
2.93
4.65
including
598.9
599.8
0.9
0.50
0.18
11.30
3.0
0.03
4.99
8.17
12.97
4.56
7.48
11.87
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
1.86
3.05
4.84
including
631.2
633.1
1.8
6.30
0.61
0.09
25.0
0.01
6.91
11.32
17.97
6.30
10.32
16.38
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
1.79
2.93
4.65
including
354.0
356.6
2.6
0.23
2.14
7.97
38.9
0.68
5.06
8.29
13.15
4.30
7.05
11.19
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
3.55
5.82
9.24
including
461.2
462.1
0.9
0.15
1.23
16.90
182.0
2.50
9.39
15.38
24.41
8.17
13.39
21.26
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
3.34
5.48
8.70
including
350.4
353.3
2.8
0.77
5.19
6.83
107.0
0.72
7.58
12.42
19.70
6.11
10.01
15.88
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
5.46
8.95
14.20
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
3.63
5.95
9.45
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
1.52
2.49
3.95
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
0.98
1.60
2.54
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
1.98
3.25
5.16
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
1.51
2.47
3.92
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
1.18
1.93
3.06
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
2.05
3.35
5.32
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
2.01
3.29
5.22
including
687.9
688.8
0.9
0.15
1.53
5.35
5.0
0.01
3.18
5.21
8.27
2.71
4.45
7.06
including
694.9
696.0
1.1
8.36
0.80
0.10
40.0
0.03
9.21
15.10
23.96
8.39
13.75
21.81
KM-21-49
lost hole
The true width of mineralization is estimated to be 50% to 99% of reported core width, with an average of 76%. (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 93% for copper, 92% for zinc, 90% for lead, 72% silver, and 70% for gold. The following equation was used to calculate copper equivalence: CuEq = Copper (%) (93% rec.) + (Gold (g/t) x 0.61)(72% rec.) + (Silver (g/t) x 0.0079)(72% rec.) + (Zinc (%) x 0.3844)(93% rec.) +(Lead (%) x 0.2203)(93% rec.). The following equation was used to calculate gold equivalence: AuEq = Gold (g/t)(72% rec.) + (Copper (%) x 1.638)(93% rec.) + (Silver (g/t) x 0.01291)(72% rec.) + (Zinc (%) x 0.6299)(93% rec.) +(Lead (%) x 0.3609)(93% 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. Full results to date of Phase 2 Drill Program at the Kay Mine Deposit, Yavapai County, Arizona. See Table 2 for width and metal equivalency notes.
Analyzed Grade
Analyzed Metal Equivalent
Metal Equivalent
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-21-50
489.5
501.9
12.3
0.98
2.30
6.36
111.9
1.24
5.99
9.81
15.57
5.02
8.24
13.07
including
489.5
493.0
3.4
2.64
3.59
9.49
207.7
1.65
10.49
17.20
27.30
8.86
14.52
23.05
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
1.48
2.42
3.84
including
538.1
545.6
7.5
0.28
1.94
2.62
112.8
0.82
3.55
5.81
9.23
2.82
4.63
7.34
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
2.93
4.80
7.62
including
864.7
865.6
0.9
8.70
0.09
0.09
16.0
0.10
8.93
14.64
23.24
8.27
13.55
21.51
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
0.99
1.61
2.56
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
1.49
2.45
3.89
including
898.2
899.3
1.1
6.56
0.11
0.10
15.0
0.04
6.79
11.13
17.67
6.28
10.29
16.32
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
1.86
3.05
4.84
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
1.38
2.25
3.58
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
1.58
2.58
4.10
including
763.7
764.9
1.2
0.38
3.01
8.69
132.0
1.68
6.97
11.43
18.13
5.80
9.50
15.08
including
771.8
774.5
2.7
1.39
2.46
4.59
116.4
1.82
5.98
9.81
15.56
5.00
8.19
12.99
including
781.5
787.6
6.1
0.31
2.63
1.64
119.5
0.65
3.64
5.97
9.47
2.81
4.60
7.30
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
1.73
2.83
4.50
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
2.66
4.35
6.91
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
0.93
1.52
2.42
including
837.0
841.6
4.6
0.03
2.16
1.34
69.0
0.79
2.59
4.24
6.73
1.98
3.24
5.14
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
1.10
1.80
2.86
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
1.75
2.86
4.54
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
4.07
6.68
10.59
including
499.1
500.2
1.1
1.97
0.31
14.55
7.0
0.02
7.81
12.81
20.33
7.16
11.73
18.61
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
1.01
1.66
2.64
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
2.44
4.00
6.35
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
0.92
1.52
2.41
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
2.61
4.28
6.79
including
777.8
778.8
0.9
0.25
6.62
11.45
105.0
3.33
10.26
16.81
26.68
8.37
13.72
21.77
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
3.61
5.92
9.40
including
824.0
827.5
3.5
3.69
4.67
3.81
228.5
0.29
9.88
16.19
25.69
8.13
13.33
21.15
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
3.06
5.02
7.97
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
3.00
4.92
7.81
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
3.71
6.08
9.65
including
762.3
783.3
21.0
0.42
6.78
9.49
67.9
0.49
8.84
14.50
23.00
7.12
11.67
18.52
KM-22-57B
736.7
862.0
125.3
1.41
0.83
1.27
12.4
0.13
2.53
4.14
6.57
2.21
3.62
5.74
including
739.7
741.6
1.8
9.42
2.37
0.32
8.5
0.03
11.06
18.12
28.76
9.93
16.28
25.84
including
798.3
805.6
7.3
6.35
0.81
3.76
19.5
0.14
8.47
13.89
22.04
7.72
12.65
20.08
KM-22-57C
784.3
885.1
100.9
1.24
1.54
1.56
25.8
0.14
3.02
4.95
7.85
2.54
4.16
6.61
including
829.4
837.9
8.5
1.60
7.71
9.04
100.9
0.35
10.66
17.47
27.72
8.62
14.14
22.43
including
852.2
857.6
5.3
6.81
0.10
0.09
23.3
0.02
7.10
11.63
18.46
6.55
10.73
17.03
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
2.15
3.52
5.59
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
4.40
7.22
11.45
including
640.7
648.0
7.3
0.79
4.34
10.20
51.9
0.56
7.90
12.94
20.54
6.60
10.83
17.18
including
668.1
678.6
10.5
5.30
12.19
6.67
194.7
1.88
17.26
28.30
44.90
13.98
22.92
36.37
including
668.1
669.6
1.5
2.55
43.20
7.76
856.0
0.80
38.86
63.69
101.08
28.62
46.90
74.43
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
2.64
4.32
6.86
including
584.3
591.9
7.6
0.29
1.19
6.23
4.4
0.40
3.53
5.79
9.19
3.09
5.06
8.02
including
602.3
613.3
11.0
4.02
0.11
1.38
12.6
0.40
4.80
7.88
12.50
4.42
7.25
11.51
including
630.3
630.9
0.7
1.14
6.35
11.20
356.0
0.65
12.28
20.13
31.95
9.89
16.21
25.73
including
633.5
641.8
8.3
1.53
2.33
5.12
26.5
0.36
5.20
8.53
13.53
4.45
7.29
11.56
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
4.06
6.65
10.55
including
672.5
676.0
3.5
0.12
6.89
6.40
332.0
3.81
10.26
16.82
26.70
7.98
13.07
20.74
including
673.6
674.5
0.9
0.28
19.65
12.65
844.0
10.20
26.07
42.74
67.82
19.97
32.73
51.94
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
3.45
5.66
8.98
including
571.2
582.5
11.3
0.51
5.27
9.96
35.4
1.52
8.18
13.40
21.27
6.76
11.08
17.58
including
605.3
622.7
17.4
3.20
6.19
4.18
40.9
0.22
8.96
14.69
23.31
7.38
12.09
19.19
including
609.6
612.0
2.4
1.45
17.73
7.97
82.5
0.44
16.08
26.35
41.81
12.29
20.15
31.97
KM-22-59A
903.7
905.9
2.1
0.61
0.10
0.65
10.3
0.10
1.02
1.68
2.66
0.92
1.50
2.38
KM-22-60
554.7
648.0
93.3
1.36
5.65
3.25
32.6
0.34
6.39
10.47
16.62
5.08
8.32
13.21
including
591.6
597.7
6.1
0.58
5.62
12.00
56.3
1.40
9.37
15.37
24.38
7.78
12.75
20.24
including
627.0
644.5
17.5
5.22
25.37
4.71
100.6
0.59
23.44
38.42
60.98
18.05
29.59
46.95
including
634.3
635.5
1.2
5.63
273.00
0.18
715.0
0.28
177.99
291.74
462.98
126.03
206.57
327.82
KM-22-61
560.8
580.0
19.2
0.72
0.20
0.69
7.0
0.06
1.18
1.93
3.07
1.05
1.73
2.74
KM-22-62
636.6
682.8
46.2
0.22
1.47
3.22
53.5
0.47
2.89
4.73
7.51
2.37
3.89
6.18
including
644.4
646.2
1.8
0.89
4.36
19.26
133.0
0.77
12.18
19.96
31.68
10.41
17.07
27.09
including
650.7
657.5
6.8
0.34
3.21
9.59
145.2
1.79
7.53
12.34
19.59
6.26
10.26
16.29
including
663.2
665.5
2.3
0.53
8.66
7.82
181.6
1.55
10.60
17.38
27.58
8.30
13.61
21.60
KM-22-62
704.1
706.2
2.1
0.36
2.88
3.33
61.5
0.46
3.99
6.53
10.37
3.18
5.22
8.28
KM-22-62A
582.2
643.6
61.4
0.31
1.27
2.65
40.8
0.58
2.55
4.18
6.64
2.11
3.47
5.50
including
593.1
602.4
9.3
1.15
2.29
4.37
52.4
0.91
4.85
7.94
12.60
4.08
6.68
10.60
including
608.9
617.8
8.8
0.20
1.79
4.26
91.2
1.15
3.90
6.40
10.15
3.20
5.25
8.33
including
627.7
630.9
3.2
0.41
7.10
15.01
180.0
2.77
12.56
20.58
32.66
10.31
16.89
26.81
KM-22-62A
653.8
660.5
6.7
0.26
1.69
2.58
90.4
0.75
3.17
5.19
8.24
2.54
4.17
6.61
KM-22-62B
590.9
599.4
8.5
1.48
0.47
1.04
21.6
0.27
2.39
3.92
6.23
2.12
3.47
5.51
KM-22-62B
606.2
629.0
22.7
0.20
1.05
1.77
21.2
0.23
1.75
2.86
4.54
1.43
2.35
3.73
including
623.8
629.0
5.2
0.21
3.61
6.52
56.6
0.81
5.55
9.09
14.43
4.53
7.42
11.78
KM-22-62C
613.6
630.3
16.8
0.57
0.40
0.48
20.5
0.11
1.18
1.94
3.07
1.01
1.65
2.62
KM-22-62C
638.3
653.8
15.5
0.25
2.34
3.34
34.8
0.34
3.31
5.43
8.62
2.68
4.39
6.97
including
648.5
653.8
5.3
0.32
4.21
6.57
74.7
0.73
6.18
10.12
16.06
5.00
8.19
13.00
KM-22-63
982.2
983.1
0.9
3.41
1.23
2.19
47.0
0.24
5.43
8.90
14.12
4.79
7.85
12.45
KM-22-63A
no significant assays
KM-22-63B
890.3
891.8
1.5
0.10
0.47
0.43
15.0
0.08
0.68
1.12
1.77
0.54
0.89
1.41
KM-22-63C
no significant assays
KM-22-63D
no significant assays
KM-22-64
317.4
325.5
8.1
1.13
0.09
2.30
14.3
0.08
2.20
3.60
5.72
2.00
3.27
5.20
KM-22-65
334.4
337.1
2.7
1.39
0.06
0.34
7.0
0.03
1.62
2.65
4.21
1.48
2.43
3.86
KM-22-66
384.4
414.8
30.5
1.00
0.11
0.09
3.0
0.01
1.13
1.85
2.94
1.03
1.69
2.68
KM-22-67
340.2
345.9
5.8
0.38
0.06
0.55
4.4
0.09
0.69
1.13
1.79
0.62
1.02
1.61
KM-22-68
407.2
408.7
1.5
1.71
0.49
0.08
8.4
0.06
2.11
3.46
5.49
1.88
3.08
4.89
KM-22-68
435.9
446.5
10.7
0.54
0.18
0.29
4.3
0.04
0.80
1.31
2.08
0.71
1.17
1.85
KM-22-69
342.0
343.6
1.6
1.19
0.87
0.96
25.7
0.06
2.30
3.78
5.99
1.97
3.24
5.14
KM-22-70
lost hole
KM-22-71
631.2
648.5
17.3
0.53
0.16
0.21
9.6
0.01
0.78
1.28
2.03
0.69
1.12
1.78
KM-22-71
657.8
668.6
10.8
3.18
0.35
0.16
22.6
0.01
3.64
5.96
9.46
3.29
5.40
8.57
including
657.8
661.4
3.7
6.75
0.28
0.09
30.9
0.02
7.20
11.81
18.74
6.61
10.83
17.19
KM-22-71A
554.3
561.4
7.2
0.39
0.22
0.64
10.3
0.22
0.90
1.47
2.34
0.78
1.29
2.04
KM-22-72
637.6
660.2
22.6
0.34
0.38
1.15
13.0
0.27
1.18
1.93
3.06
1.01
1.66
2.63
KM-22-72
669.3
671.3
2.0
0.17
2.15
4.15
23.1
0.56
3.38
5.55
8.80
2.79
4.57
7.25
KM-22-73
no significant assays
KM-22-74
649.2
688.2
39.0
0.40
1.77
3.39
30.5
0.32
3.09
5.07
8.05
2.56
4.20
6.67
including
652.6
659.8
7.2
0.68
2.57
5.13
18.0
0.11
4.39
7.19
11.42
3.67
6.02
9.55
including
678.5
688.2
9.8
0.15
3.08
5.67
32.0
0.51
4.57
7.50
11.90
3.74
6.13
9.73
KM-22-74
716.3
719.6
3.4
0.03
0.84
2.65
37.5
0.57
1.99
3.26
5.17
1.65
2.71
4.30
KM-22-75
690.7
692.8
2.1
0.23
0.25
0.84
9.3
0.22
0.83
1.36
2.15
0.71
1.17
1.86
KM-22-75
705.0
716.9
11.9
0.67
0.17
0.30
8.0
0.05
0.97
1.58
2.51
0.86
1.41
2.24
KM-22-75
723.1
731.7
8.5
0.31
0.50
1.27
11.6
0.09
1.21
1.99
3.16
1.03
1.69
2.69
KM-22-75
753.5
754.5
1.1
0.23
1.22
1.85
12.0
0.04
1.78
2.92
4.64
1.46
2.39
3.80
KM-22-76
no significant assays
KM-22-77
no significant assays
KM-22-78
no significant assays
KM-22-79
667.8
673.8
5.9
0.11
0.52
1.03
6.9
0.23
0.93
1.52
2.42
0.77
1.27
2.02
KM-22-79
681.8
689.8
7.9
2.12
1.38
3.14
47.2
0.27
4.61
7.55
11.98
4.00
6.55
10.40
KM-22-80
672.8
678.5
5.6
0.35
0.59
0.68
4.9
0.02
1.02
1.67
2.65
0.85
1.40
2.22
KM-22-80
702.9
705.9
3.0
0.13
0.04
0.99
1.0
0.01
0.54
0.89
1.41
0.49
0.81
1.28
KM-22-81
813.8
822.4
8.5
0.10
0.22
0.69
15.5
0.11
0.65
1.07
1.69
0.54
0.89
1.42
KM-22-81A
847.7
852.8
5.2
0.03
0.19
2.04
46.2
0.48
1.40
2.29
3.64
1.19
1.94
3.09
KM-22-81B
801.8
805.6
3.8
9.60
1.81
1.83
44.6
0.23
11.81
19.36
30.72
10.65
17.45
27.70
including
802.7
804.2
1.5
14.80
2.75
2.06
53.0
0.28
17.75
29.10
46.18
16.03
26.27
41.69
KM-22-81B
815.0
816.0
0.9
0.93
0.56
0.49
28.0
0.21
1.72
2.82
4.48
1.47
2.41
3.83
KM-22-81B
821.6
823.0
1.4
0.02
0.03
1.92
28.0
0.40
1.09
1.78
2.83
0.95
1.56
2.47
KM-22-81B
836.5
837.3
0.8
0.05
0.74
0.69
15.0
0.46
0.99
1.62
2.57
0.79
1.29
2.04
KM-22-81C
751.5
754.7
3.2
1.14
0.43
0.56
19.6
0.07
1.79
2.94
4.66
1.57
2.57
4.08
KM-22-81C
775.9
784.0
8.1
0.21
0.13
1.01
18.8
0.22
0.88
1.44
2.29
0.76
1.25
1.99
KM-22-81C
787.0
788.5
1.5
0.03
2.02
1.80
30.0
0.39
2.27
3.73
5.92
1.77
2.91
4.61
KM-22-82
226.5
228.0
1.5
0.14
0.07
1.58
5.4
0.53
0.95
1.55
2.46
0.85
1.40
2.22
KM-22-82
301.8
304.2
2.4
1.18
0.37
0.13
2.6
0.02
1.48
2.42
3.84
1.32
2.16
3.42
KM-22-83
no significant assays
KM-22-84
no significant assays
KM-22-85
no significant assays
KM-22-86
lost hole
KM-22-86A
545.9
546.6
0.7
0.14
0.51
0.14
16.0
0.26
0.69
1.14
1.80
0.54
0.89
1.41
KM-22-86A
563.7
564.8
1.1
0.04
1.11
0.05
13.0
0.11
0.86
1.42
2.25
0.63
1.03
1.63
KM-22-86A
565.6
566.7
1.1
0.05
0.15
0.92
25.9
0.43
0.80
1.30
2.07
0.67
1.10
1.74
KM-22-87
339.9
348.1
8.2
0.29
0.31
0.23
2.0
0.01
0.59
0.96
1.53
0.50
0.82
1.30
including
339.9
340.5
0.6
1.89
0.09
0.04
4.0
0.02
1.99
3.26
5.17
1.83
3.00
4.76
KM-22-88
344.7
345.6
0.9
2.84
0.07
0.06
2.0
0.02
2.93
4.80
7.61
2.71
4.44
7.04
KM-22-89
447.1
448.5
1.4
1.09
0.29
0.06
5.8
0.11
1.36
2.23
3.53
1.21
1.99
3.15
KM-22-90
no significant assays
KM-22-91
399.3
401.1
1.8
0.72
0.66
0.20
3.5
0.02
1.23
2.02
3.21
1.05
1.72
2.73
KM-22-92
no significant assays
KM-22-93
478.7
483.3
4.5
1.85
0.03
0.02
4.6
0.00
1.91
3.13
4.97
1.77
2.90
4.60
KM-22-93
506.6
508.6
2.0
1.63
0.01
0.01
2.2
0.00
1.66
2.72
4.32
1.54
2.52
4.01
KM-22-93
522.4
527.0
4.6
0.85
0.05
0.02
2.6
0.00
0.90
1.48
2.35
0.83
1.36
2.16
KM-22-93
615.1
616.3
1.2
2.85
0.04
0.06
5.0
0.00
2.94
4.81
7.64
2.72
4.45
7.07
KM-22-94
797.4
815.0
17.7
0.73
0.04
0.06
3.1
0.01
0.81
1.33
2.11
0.74
1.22
1.93
including
797.4
798.7
1.4
1.43
0.03
0.02
3.7
0.02
1.49
2.44
3.87
1.37
2.25
3.58
KM-22-94
829.4
832.6
3.2
0.54
0.75
0.48
6.9
0.06
1.25
2.05
3.26
1.05
1.71
2.72
KM-22-94
854.5
855.8
1.3
0.76
0.09
0.02
2.0
0.00
0.84
1.37
2.18
0.76
1.25
1.99
KM-22-94A
829.1
832.4
3.4
2.18
0.03
0.07
5.2
0.05
2.27
3.73
5.91
2.10
3.44
5.47
including
829.1
829.7
0.6
9.43
0.10
0.27
22.0
0.23
9.82
16.09
25.54
9.08
14.88
23.61
KM-22-94A
850.1
853.4
3.4
0.63
0.11
0.02
2.4
0.02
0.73
1.20
1.90
0.66
1.08
1.71
KM-22-94A
858.9
864.9
5.9
0.62
0.02
0.02
2.3
0.01
0.67
1.09
1.74
0.61
1.01
1.60
KM-22-94A
871.9
882.2
10.4
1.21
0.09
0.05
3.6
0.01
1.31
2.15
3.42
1.20
1.97
3.13
KM-22-95
432.8
435.6
2.7
0.22
0.12
0.61
4.1
0.02
0.57
0.94
1.48
0.50
0.83
1.31
KM-22-96
no significant assays
KM-23-97
512.2
521.0
8.8
2.87
2.24
2.65
27.7
0.31
5.54
9.08
14.41
4.78
7.83
12.43
including
516.1
517.7
1.6
8.12
3.67
2.33
61.2
0.14
11.76
19.28
30.60
10.31
16.91
26.83
including
516.8
517.2
0.4
17.10
4.59
0.40
59.0
0.08
20.54
33.67
53.43
18.36
30.09
47.75
KM-23-97
595.3
596.8
1.5
0.95
0.80
0.03
9.0
0.01
1.52
2.50
3.97
1.29
2.11
3.36
KM-23-98
255.7
258.8
3.0
0.53
0.13
0.11
3.5
0.01
0.69
1.12
1.78
0.61
1.00
1.59
KM-23-98
312.4
317.0
4.6
0.70
0.06
0.13
4.1
0.02
0.82
1.35
2.14
0.75
1.23
1.95
KM-23-98
342.9
347.2
4.3
0.75
0.33
0.06
3.3
0.00
1.00
1.64
2.60
0.88
1.44
2.28
KM-23-99
459.8
462.8
3.0
0.61
0.28
0.44
7.0
0.09
1.02
1.67
2.65
0.90
1.47
2.33
KM-23-99
508.3
517.9
9.6
0.04
0.59
0.74
2.0
0.03
0.70
1.15
1.82
0.56
0.92
1.47
KM-23-100
305.5
310.0
4.5
1.33
0.29
0.40
16.9
0.05
1.81
2.96
4.70
1.61
2.64
4.19
KM-23-100
366.1
367.9
1.8
0.39
0.06
0.29
3.8
0.06
0.58
0.95
1.51
0.52
0.86
1.36
KM-23-100
387.4
388.7
1.3
0.65
0.11
0.03
1.3
0.00
0.74
1.21
1.92
0.67
1.10
1.74
KM-23-101
670.1
672.4
2.3
0.79
0.83
0.01
2.9
0.00
1.33
2.17
3.45
1.11
1.82
2.89
KM-23-102
345.6
350.1
4.4
0.52
0.14
0.18
2.7
0.05
0.71
1.16
1.85
0.64
1.04
1.65
KM-23-103
386.3
396.9
10.5
2.40
3.25
6.09
36.1
0.85
7.20
11.80
18.72
6.15
10.08
16.00
including
387.9
390.6
2.7
0.86
8.21
16.08
42.5
1.39
12.69
20.80
33.01
10.51
17.22
27.33
including
392.9
394.4
1.5
7.55
1.82
2.62
26.0
0.14
9.90
16.23
25.76
8.90
14.59
23.15
KM-23-103
500.8
504.3
3.5
0.55
0.23
0.03
1.7
0.00
0.72
1.17
1.86
0.63
1.03
1.64
KM-23-105
553.2
560.5
7.3
0.22
2.87
4.90
202.8
1.46
5.79
9.49
15.06
4.61
7.56
12.00
including
557.5
559.5
2.0
0.57
6.05
8.26
418.8
1.58
11.11
18.20
28.89
8.74
14.32
22.73
KM-23-105
572.9
601.7
28.8
0.22
0.70
1.09
39.1
0.26
1.43
2.35
3.73
1.17
1.91
3.03
including
573.5
575.8
2.3
1.07
1.34
7.28
246.3
1.57
6.99
11.46
18.18
5.86
9.61
15.25
KM-23-106
476.3
501.2
25.0
0.37
1.61
3.68
33.4
0.90
3.23
5.30
8.41
2.71
4.44
7.04
including
491.0
494.2
3.2
1.13
3.86
8.53
63.5
1.03
7.50
12.29
19.51
6.29
10.30
16.35
including
500.3
501.2
0.9
0.43
15.15
2.70
272.0
3.62
13.67
22.40
35.55
10.10
16.55
26.26
KM-23-106
517.4
566.6
49.2
1.15
1.19
1.71
14.4
0.44
2.75
4.50
7.15
2.35
3.86
6.13
including
556.3
566.6
10.4
5.10
3.05
0.47
22.6
0.01
7.33
12.01
19.06
6.35
10.40
16.51
KM-23-106
576.1
581.3
5.2
0.02
1.37
0.61
20.5
0.24
1.31
2.14
3.40
0.99
1.62
2.57
Table 4. Results of Phase 1 Drill Program at the Kay Mine Deposit, 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
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%
KM-20-01
275.8
281.5
5.6
0.57
0.48
1.20
11.6
0.18
1.70
1.61
4.51
including
275.8
276.5
0.6
0.50
1.22
5.04
32.0
0.73
4.23
4.01
11.22
including
279.8
281.5
1.6
1.21
0.98
1.49
22.6
0.23
3.10
2.94
8.22
KM-20-02
297.8
300.8
3.0
0.77
0.20
0.04
1.4
0.01
1.01
0.96
2.69
KM-20-03
256.3
259.1
2.7
3.40
1.01
0.65
69.6
0.09
5.41
5.13
14.35
including
256.3
257.3
0.9
7.42
1.79
1.11
56.0
0.17
10.32
9.78
27.37
KM-20-03
292.2
292.6
0.5
2.43
0.19
0.15
2.0
0.04
2.72
2.57
7.20
KM-20-03
295.4
295.8
0.5
1.35
0.80
0.91
6.0
0.06
2.61
2.47
6.92
KM-20-03A
252.4
256.9
4.6
3.70
2.55
0.27
35.6
0.03
6.85
6.49
18.15
including
252.4
253.1
0.8
9.74
6.34
0.40
164.0
0.11
18.19
17.24
48.23
KM-20-05
266.6
269.0
2.4
6.47
1.94
0.57
43.3
0.14
9.19
8.71
24.37
including
266.6
267.8
1.2
10.60
2.21
1.05
50.0
0.26
13.89
13.16
36.83
KM-20-06
267.9
281.5
13.5
1.02
0.85
1.23
45.6
0.30
2.92
2.77
7.75
including
267.9
268.4
0.5
1.54
2.20
6.10
31.0
0.81
6.73
6.38
17.85
including
276.6
281.5
4.9
1.86
0.87
1.96
92.1
0.42
4.54
4.30
12.04
including
280.0
281.0
1.1
3.22
1.03
0.64
340.0
0.04
7.82
7.41
20.74
KM-20-09
588.1
588.4
0.3
0.91
1.74
1.86
15.0
0.40
3.72
3.52
9.86
KM-20-09
613.4
614.1
0.7
0.90
1.81
1.04
10.0
0.08
3.32
3.15
8.81
KM-20-09
614.6
614.9
0.3
2.64
0.36
0.98
19.0
0.10
3.60
3.41
9.54
KM-20-09
632.8
638.9
6.1
0.12
4.18
8.02
41.7
0.82
8.23
7.80
21.83
including
633.6
637.9
4.4
0.15
5.46
9.06
33.1
0.50
9.81
9.29
26.00
including
636.9
637.9
1.1
0.17
9.77
14.65
68.0
0.78
16.92
16.03
44.86
KM-20-10
563.6
568.5
4.9
2.39
2.16
3.27
24.9
0.31
6.24
5.92
16.55
including
563.6
566.6
3.0
3.66
2.42
3.16
28.2
0.32
7.78
7.38
20.64
including
567.2
568.5
1.2
0.33
2.52
5.10
28.4
0.43
5.33
5.05
14.12
KM-20-10
574.2
574.9
0.6
0.12
4.33
11.30
113.0
0.16
10.09
9.56
26.75
KM-20-10
577.7
579.3
1.6
0.03
0.70
4.38
45.9
0.68
3.09
2.93
8.20
KM-20-10
582.3
583.1
0.8
0.03
0.42
2.90
51.0
1.07
2.42
2.29
6.40
KM-20-10A
521.2
522.5
1.3
2.13
1.27
7.46
51.1
0.91
7.07
6.70
18.75
KM-20-10A
527.9
538.6
10.7
1.32
1.66
2.58
27.2
0.30
4.40
4.17
11.66
including
527.9
529.4
1.5
6.69
0.92
1.62
30.2
0.07
8.59
8.14
22.77
including
532.2
535.3
3.1
0.72
1.75
2.99
34.3
0.42
4.17
3.95
11.07
including
537.2
538.6
1.4
0.16
7.29
9.06
79.2
0.60
12.24
11.60
32.44
KM-20-10B
503.0
530.7
27.6
0.87
0.97
1.76
21.3
0.32
2.87
2.72
7.61
including
503.0
509.6
6.6
1.78
1.55
2.55
29.8
0.37
4.79
4.54
12.70
including
513.9
518.3
4.4
1.08
1.89
4.05
47.4
0.68
5.29
5.01
14.02
including
527.2
530.7
3.5
1.91
2.32
3.93
52.9
0.99
6.68
6.33
17.72
KM-20-10C
523.9
530.7
6.8
0.58
3.32
5.84
102.0
1.15
7.65
7.25
20.28
including
523.9
528.2
4.3
0.88
4.89
7.61
125.2
1.45
10.60
10.05
28.11
including
525.6
526.4
0.8
0.52
16.65
21.40
214.0
2.76
29.15
27.62
77.29
KM-20-11
554.1
556.9
2.7
4.14
2.83
3.56
70.0
0.28
9.23
8.75
24.48
KM-20-12
371.9
376.7
4.9
3.99
0.37
0.62
12.4
0.07
4.76
4.51
12.61
including
371.9
373.7
1.9
8.49
0.67
1.53
28.0
0.16
10.10
9.57
26.77
KM-20-12
379.5
404.2
24.7
0.73
0.08
0.08
2.3
0.01
0.87
0.82
2.30
KM-20-12
371.9
404.2
32.3
1.19
0.12
0.14
3.8
0.01
1.35
2.20
3.50
including
372.7
376.7
4.1
4.80
0.44
0.75
14.9
0.08
5.50
9.01
14.30
KM-20-13
443.6
486.8
43.1
1.68
1.26
1.67
23.3
0.24
3.94
3.73
10.45
including
444.4
459.6
15.2
3.42
1.80
2.36
38.5
0.39
6.71
6.36
17.80
including
444.4
447.1
2.7
1.02
3.74
10.64
55.0
1.88
10.14
9.61
26.89
including
451.4
455.8
4.4
8.41
1.18
0.16
65.3
0.02
10.34
9.80
27.42
KM-20-14
421.7
461.6
39.9
1.47
1.00
1.67
18.4
0.19
3.40
3.22
9.00
including
426.3
429.8
3.5
9.56
1.28
0.95
30.0
0.07
11.58
10.98
30.71
including
457.2
460.7
3.5
0.36
2.58
8.33
26.3
0.38
6.61
6.26
17.52
KM-20-14A
404.6
409.0
4.4
1.67
1.48
2.50
79.2
0.41
5.07
4.80
13.44
including
404.6
406.4
1.7
4.08
2.46
5.02
173.6
0.53
10.41
9.87
27.61
KM-20-14A
421.0
443.5
22.5
0.86
0.72
1.51
15.9
0.18
2.41
2.28
6.38
including
421.0
421.8
0.8
9.81
2.91
1.69
45.0
0.19
14.01
13.28
37.15
including
421.0
425.0
4.1
3.23
1.14
1.30
21.4
0.14
5.17
4.90
13.71
KM-20-15
506.8
510.1
3.3
0.05
0.33
3.73
192.0
1.75
4.24
4.02
11.25
KM-20-16
480.4
518.8
38.4
0.85
0.81
2.24
24.3
0.25
2.87
2.72
7.61
including
480.4
492.9
12.5
1.63
1.98
4.23
48.5
0.50
5.95
5.64
15.78
including
480.4
483.4
3.0
2.40
4.74
7.49
77.9
0.91
11.29
10.70
29.93
including
489.8
492.9
3.0
3.61
2.59
6.90
100.7
0.92
10.22
9.68
27.10
Table 5. Western Target surface outcrop sampling results
SampleID
Cu_%
Au_ppm
Zn_ppm
CS-001
4.89
0.41
117
CS-002
1.43
0.10
231
CS-003
2.16
0.20
89
CS-004
3.20
0.19
88
CS-005
4.24
0.10
42
CS-006
1.62
0.10
158
JCS-001
3.91
0.20
122
JCS-002
1.77
0.20
123
JCS-003
3.20
0.48
96
About Arizona Metals Corp
Arizona Metals Corp owns 100% of the Kay Mine Project 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 Deposit 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 Deposit 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 ("QA/QC") 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 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 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.
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, completion of the Phase 2 drill program, commencement and anticipated costs of the Phase 3 drill program, and the potential existence and size of VMS deposits at the Kay Mine Project. 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.
NEITHER THE TSX VENTURE EXCHANGE (NOR ITS REGULATORY SERVICE PROVIDER) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
____________________________
1 SRK Consulting (Canada) Inc., March 2022, Updated Metallurgical Review, Kay Mine, Arizona. Report 3CA061.004
2 SRK Consulting (Canada) Inc., March 2022, Updated Metallurgical Review, Kay Mine, Arizona. Report 3CA061.004
SOURCE Arizona Metals Corp.
Morgan Knowles, Vice President of Investor Relations, (647) 202-3904, [email protected]; or Marc Pais, President and CEO Arizona Metals Corp., (416) 565-7689, [email protected], www.arizonametalscorp.com, https://twitter.com/ArizonaCorp
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