VANCOUVER, Sept. 29, 2015 /CNW/ - AZ Mining Inc. (TSX: AZ) ("AZ Mining" or the "Company") is pleased to announce the results of two additional drill holes on its Hermosa NW discovery. HDS-335 and HDS-336 were completed to explore the northwest extension of the currently recognized mineralization. HDS-335 is an angle hole (-85 degrees 230 degrees azimuth) drilled from the HDS-334 site location. HDS-336 is a vertical drill hole that stepped out to the north/northwest from HDS-333 approximately 260 feet (see attached map).
HDS-335 was successful in testing the full section of mineralized stratigraphy currently recognized at Hermosa NW. HDS-336 was successful in testing the upper mineralized stratigraphic horizons but encountered a pyritic intrusive dike in the lower portions of the hole which removed the lower carbonate horizons.
The more significant mineralized intercepts from the recent drilling are as follows (all intervals reported are down-the-hole drill intervals and not represented as true thickness of the mineralized zones):
| Hole |
From (feet) |
To (feet) |
Interval (feet) |
Ag opt |
Pb% |
Zn% |
Cu% |
|
| HDS-335 |
2665.5 |
2882 |
216.5 |
1.35 |
4.48 |
5.09 |
0.03 |
|
| HDS-335 |
Including |
2670 |
2690 |
20 |
3.68 |
12.92 |
17.3 |
0.08 |
| HDS-335 |
Including |
2772 |
2807 |
35 |
1.89 |
6.22 |
7.53 |
0.07 |
| HDS-335 |
Including |
2847 |
2857 |
10 |
2.69 |
8.67 |
11.48 |
0.05 |
| HDS-335 |
2907 |
2947 |
40 |
1.54 |
4.53 |
4.23 |
0.03 |
|
| HDS-335 |
3167 |
3203.5 |
27.5 |
2.61 |
5.35 |
3.25 |
0.06 |
|
| HDS-335 |
3270.5 |
3274 |
3.5 |
6.53 |
14.55 |
8.48 |
2.31 |
|
| HDS-335 |
3371 |
3382 |
11 |
0.89 |
2.22 |
4.55 |
0.02 |
|
| HDS-335 |
3397 |
3400 |
3 |
5.72 |
1.3 |
3.03 |
0.036 |
|
| HDS-336 |
1857 |
1907 |
50 |
3.28 |
2.25 |
2.94 |
0.23 |
|
| HDS-336 |
2106 |
2137 |
31 |
1.03 |
3.05 |
4.38 |
0.06 |
|
| HDS-336 |
2502 |
2579 |
77 |
2.07 |
6.39 |
5.75 |
0.03 |
|
| HDS-336 |
Including |
2542 |
2557 |
15 |
3.51 |
11.94 |
11.09 |
0.06 |
| HDS-336 |
2672 |
2677 |
5 |
2.89 |
5.23 |
3.87 |
0.42 |
A full listing of the mineralized intervals from this drilling and the complete list of all drill intercepts is available on the Company's website www.azmininginc.com.
"These drill results confirm the continued expansion of high grade zinc, lead and silver over significant thicknesses characteristic of this exciting new discovery" commented Richard Warke, AZ Mining's Chairman and CEO. "We look forward to future drill results as we continue to test key extensions of the already sizable mineralized zone, which remains open to the north, west and southwest."
The Company's plans for Hermosa NW include continuing step out drilling to expand the resource, completing metallurgical tests of the coarse sulfide mineralization to determine precise recoveries for design and evaluation purposes and completing a resource evaluation in preparation for a Preliminary Economic Evaluation anticipated in Q2 2016.
Qualified Person
The results of AZ Mining's drilling results have been reviewed, verified and compiled by Donald Taylor, MSc., PG, President and Chief Operating Officer for AZ Mining, a qualified person as defined by National Instrument 43-101 (NI 43-101). Mr. Taylor has more than 25 years of mineral exploration and mining experience, and is a Registered Professional Geologist through the SME (registered member #4029597). Mr. Taylor is also a Licensed Professional Geologist in several US states.
Assays and Quality Assurance/Quality Control
To ensure reliable sample results, the Company has a rigorous QA/QC program in place that monitors the chain-of-custody of samples and includes the insertion of blanks, duplicates, and certified reference standards in each batch of samples. Core is photographed and split in half with one-half retained in a secured facility for verification purposes.
Sample preparation (crushing and pulverizing) is performed at ALS Minerals Laboratories, an ISO/IEC accredited lab located in Tucson, Arizona. ALS Minerals Laboratories prepares a pulp of all samples and sends the pulps to their analytical laboratory in Vancouver, B.C. Canada for analysis. ALS analyzes the pulp sample by ICP following a 4-acid digestion (ME-ICP61 for 33 elements) including Cu (copper), Pb (lead), and Zn (zinc). All samples in which Cu (copper), Pb (lead), or Zn (zinc) are greater than 10,000 ppm are rerun using four acid digestion with an ICP – AES finish (Cu-OG62; Pb-OG62; and Zn-OG62) with the elements reported in percentage (%). Silver values are determined by ICP ((ME-ICP61) with all samples with silver values greater than 100 ppm repeated using four acid digestion with an ICP-AES finish (Ag-OG62) calibrated for higher levels of silver contained. Any values over 1,500 ppm Ag triggers a fire assay with gravimetric finish analysis. Gold values are determined by a 30 gm fire assay with an ICP-AES finish (Au-ICP21).
About AZ Mining
AZ Mining is a Canadian mineral exploration company focused on the development of its 80% owned Hermosa property located in Santa Cruz County, Arizona. The Hermosa property currently has two distinct projects: Hermosa North West, a zinc-lead-silver carbonate replacement zone sulfide mineral exploration project; and Hermosa Central, a silver-manganese manto oxide development project. North West has a resource calculated in accordance with NI 43-101 and is being drilled to test the limits of that resource. The Company released the results of the first five holes of the current drill program on North West in May, 2015 that showed high grade zinc, lead and silver intercepts over significant thicknesses. Central's December 2013 prefeasibility study indicates it is expected to be one of the largest primary silver producers as well as the only electrolytic manganese metal producer in the USA at industry low cash costs. The pre-feasibility study estimates annual production of 5.7 million ounces of silver and 110 million pounds of electrolytic manganese metal (EMM) at average cash costs of $4.41 per silver ounce and $0.74 per EMM pound over an 18 year mine life.
Cautionary Note Regarding Forward-Looking Information
Certain information contained in this press release constitutes forward-looking statements. All statements, other than statements of historical facts, are forward looking statements including statements with respect to the Company's intentions for its Hermosa property in Arizona, USA including, without limitation, drilling on Hermosa North West and expected future mineral production and operating costs on Hermosa Central. Forward-looking statements are often, but not always, identified by the use of words such as may, will, seek, anticipate, believe, plan, estimate, budget, schedule, forecast, project, expect, intend, or similar expressions.
The forward-looking statements are based on a number of assumptions which, while considered reasonable by AZ Mining, are subject to risks and uncertainties. In addition to the assumptions herein, these assumptions include the assumptions described in AZ Mining's management's discussion and analysis for the year ended December 31, 2014 ("MD&A"). AZ Mining cautions readers that forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed in or implied by such forward-looking statements and forward-looking statements are not guarantees of future results, performance or achievement. These risks, uncertainties and factors include general business, economic, competitive, political, regulatory and social uncertainties; actual results of exploration activities and economic evaluations; fluctuations in currency exchange rates; changes in project parameters; changes in costs, including labour, infrastructure, operating and production costs; future prices of zinc, lead, silver and other minerals; variations of mineral grade or recovery rates; operating or technical difficulties in connection with exploration, development or mining activities, including the failure of plant, equipment or processes to operate as anticipated; delays in completion of exploration, development or construction activities; changes in government legislation and regulation; the ability to maintain and renew existing licenses and permits or obtain required licenses and permits in a timely manner; the ability to obtain financing on acceptable terms in a timely manner; contests over title to properties; employee relations and shortages of skilled personnel and contractors; the speculative nature of, and the risks involved in, the exploration, development and mining business; and the factors discussed in the section entitled "Risks and Uncertainties" in the MD&A.
Although AZ Mining has attempted to identify important risks, uncertainties and other factors that could cause actual performance, achievements, actions, events, results or conditions to differ materially from those expressed in or implied by the forward-looking information, there may be other risks, uncertainties and other factors that cause performance, achievements, actions, events, results or conditions to differ from those anticipated, estimated or intended. Unless otherwise indicated, forward-looking statements contained herein are as of the date hereof and AZ Mining disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable law.
Click here to view the AZ Mining Inc. Hermosa NW Project Drill Map.
SOURCE AZ Mining Inc.
PDF available at: http://stream1.newswire.ca/media/2015/09/29/20150929_C8606_PDF_EN_509880.pdf
Don Taylor, President, and COO on 1-303-300-6890, e-mail [email protected]; or Paul Ireland, CFO on 604-484-3597, e-mail [email protected]
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