- AZMCF expanding the 100%-owned Kay Mine Projects in Arizona, surrounded by sixty historic underground VMS copper, gold, zinc, and silver mines
- Volcanogenic massive sulfide (“VMS”) deposits are critical global sources of copper, zinc, lead, gold, and silver ores
- Recent company update reveals progress on Kay Mine Project, including 33,000 meters of core drilling completed in 2022, drill permits received for Central and Western targets, and drilling initiated on targets outside deposit
- Company fully funded (cash of $58 million at Sept 30, 2022) to complete remaining 8,600 meters for Kay Mine Phase 2, as well as 76,000 meters for Phase 3
Arizona Metals (TSX: AMC) (OTCQX: AZMCF), a mineral exploration company, recently provided a year-end review and updates on its 100%-owned Kay Mine VMS Project and Sugarloaf Peak Gold Project in Arizona (https://ibn.fm/Uvy2n). During 2022, the company completed approximately 33,000 meters of core drilling at the Kay Mine Deposit, received drill permits for both the Central and Western Targets, and initiated drilling on targets outside the deposit.
As of September 2022, AZMCF was fully funded to complete the remaining 8,600 meters planned for the Kay Mine Phase 2 program, and an additional 76,000 meters for Phase 3. Both programs will test numerous parallel targets west of the Kay Mine Deposit, along with possible northern and southern extensions.
“As we begin 2023, I want to take a moment to reflect on the past year and share some of our accomplishments,” said AZMCF CEO Marc Pais. “First, I want to thank our shareholders for your continued support and belief in Arizona Metals. Your trust and investment have been a driving force in creating one of the best-financed explorers listed on the TSX and advancing what we believe to be one of the world’s premier VMS exploration projects.”
Volcanogenic massive sulfide (“VMS”) deposits represent a critical global source of copper, zinc, lead, gold, and silver ores. AZMCF aims to tap into the potential of Arizona’s Yavapai County with its 100%-owned projects surrounded by sixty historic underground VMS copper, gold, zinc, and silver mines.
VMS ore deposits are typically associated with and created by volcanic-associated hydrothermal events in submarine environments (https://ibn.fm/uvwM4). They are predominantly copper-zinc metal sulfide ore deposits occurring in areas dominated by volcanic or volcanic-derived rocks. Currently, VMS deposits are formed around volcanoes under the sea and along many ridges in the middle of the ocean within forearc rifts and back-arc basins. While some mineral exploration firms explore on the sea floor, most companies focus on land-based equivalents.
Yavapai County, located in mining-friendly Arizona, is a prolific mining district with substantial historic resources, one of which AZMCF is currently exploring, developing, and expanding. The company’s fully owned flagship Kay Mine property totals 1,300 acres that are not subject to any royalties. A historic 1982 estimate by Exxon Minerals revealed a “proven and probable reserve of 6.4 million short tons at a grade of 2.2% copper, 2.8 grams per ton gold, 3.03% zinc, and 55 grams per ton silver” (https://ibn.fm/C2zjb). (1)
According to a report by Westworld Resources in 1983, AZMCF’s fully owned Sugarloaf Peak Property in La Paz County has a historical estimate of “100 million tons containing 1.5 million ounces (of) gold” at a grade of 0.5 grams per ton. (2)
Based in Toronto, Canada, Arizona Metals advances precious and base metal deposits in Arizona. The company’s management team leverages decades of geological engineering, precious metals exploration, and investment banking experience to develop world-class VMS exploration projects.
(1) 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.
(2) 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.
For more information, visit the company’s website at www.ArizonaMetalsCorp.com.
Full Disclosure: Arizona Metals Corp. is an InvestorBrandNetwork marketing client.
NOTE TO INVESTORS: The latest news and updates relating to AZMCF are available in the company’s newsroom at https://ibn.fm/AZMCF
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