TORONTO, June 29, 2020 – Arizona Metals Corp. (TSX.V:AMC) (the “Company” or “Arizona Metals”) is pleased to announce that drilling at the South Zone of its Kay Mine Project, located near Black Canyon City, Arizona, has intersected massive sulphide mineralization in an area previously untested by historic exploration. Hole KM-20-10 intersected an interval of 4.9 m at a grade of 6.2% CuEq, including 3.0 m at a grade of 7.8% CuEq, from a vertical depth of 480 m.
Further downhole, from a vertical depth of 491 m, KM-20-10 also intersected an interval of 0.6 m at a grade of 9.6 g/t AuEq, and 1.6 m of 3.1% CuEq from a depth of 494m.
Marc Pais, CEO, commented “The resumption of our Phase 1 drill program at the Kay Mine project has continued to confirm the historic results reported by previous operators. We have also encountered new mineralization outside of the historic workings. To date, we have hit massive sulphide mineralization in 9 out of the first 10 holes reported. Holes 11, 12, and branch hole 10A are currently at the lab for assay. Branch hole 10B is currently underway (about 30 m north of the hole released today), as is hole 13. We expect a steady flow of drill results from the Kay Mine Project over the next few weeks and months. We are also anticipating drilling to start on July 6th, 2020 at our Sugarloaf Peak Project, which has a historic estimate of 1.5 million ounces of gold1”.
Figure 1. Drill hole KM-20-10 in the South Zone which intersected 4.9 m of 6.2% CuEq, including 3.0 m of 7.8% CuEq., as well as 0.6 m of 9.6g/t Au Eq and 1.6m of 3.1% CuEq. Holes KM-20-10A and KM-20-11 have been completed and submitted for assaying. Branch hole KM-20-10B and trunk KM-20-12 are currently in progress. See Table 3 for constituent elements and grades of CuEq% and AuEq g/t. “Historic Assay Grades – Cu%” are underground channel samples at a 4-foot spacing, as well as underground drilling.
Drill hole KM-20-10 is located approximately 40 m below the 1500-foot level of underground exploration drifts, which was described as mineralized in historic exploration work by Exxon Minerals. This hole is also 80 m above hole KM-20-09 drilled by Arizona Metals in March 2020, which intersected 6.1 m of 7.8 g/t AuEq (see Table 2 below).
Hole KM-20-10 is being used as a trunk hole in order to wedge a number of branch holes aimed at the 1500-foot level described by Exxon, located approximately 50 m above the interval announced today. Branch hole KM-20-10A, in this location, has been completed and samples submitted to ALS Laboratories in Tucson, Arizona. Branch hole KM-20-10B is currently in progress.
Hole KM-20-11 was drilled to target the 1500-foot level of the North Zone at a target depth of 550 m (Figure 1). Samples of this hole have been submitted to ALS Laboratories for assay. Hole KM-20-12 was drilled to target the 1200-foot level of the North Zone at a target depth of 300 m (Figure 1). Samples of this hole have been submitted to ALS Laboratories for assay.
Table 1. Locations of Phase 1 Program drill holes completed and in progress at Kay Mine, Arizona
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