Arizona Metals (TSX: AMC) (OTCQX: AZMCF), a mineral exploration company focused on advancing precious and base metal deposits, has commenced its phase 3 expansion drill program in the flagship Kay Mine Project. The copper-gold-zinc-silver asset is located in Yavapai County on a combination of private land and BLM claims. “Arizona Metals prides itself on having unique features that distinguish the company in the market. The first quality is the Kay Mine Project’s grade and width. Next, it’s the mine’s polymetallic nature, which, at these grades and widths, gives the potential for significant metal output with a low footprint. This also implies lower capital and operating costs. Finally, it’s the scale… Although most of the gold and copper-rich volcanogenic massive sulfide (‘VMS’) were mined out in the last 100 years, the company claims that the Kay Mine is different,” a recent article reads. “What we see as the real potential is the scale. We have high grades, large widths, now you want tons. We think Kay Mine alone has great tonnage potential. On our property, we have 16 targets outside of the Kay Mine, but all within a 1.5km radius that have never been drill tested,” Marc Pais, Arizona Metals’ president and CEO, is quoted as saying. “Kay Mine is unique in the fact that it was basically abandoned for 40 years until 2019 when we acquired it. During that time, no work was done…”
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About Arizona Metals Corp.
Arizona Metals Corp owns 100% of the Kay Mine Property 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.” The historic estimate at the Kay Mine was reported by Exxon Minerals in 1982. The Kay Mine 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 estimates for the Kay Mine and Sugarloaf Peak properties have not been verified as current mineral resources. None of the key assumptions, parameters and methods used to prepare the historic estimates 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 estimates can be verified and upgraded to current mineral resources. A qualified person has not done sufficient work to classify these as current mineral resources, and Arizona Metals is not treating the historic estimates as current mineral resources.
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