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Arizona Metals Corp’s Kay Mine Drilling Intersects 28.2 m at a grade of 3.8% Cu, 0.5 g/t Au, 0.3% Zn, and 13 g/t Ag (incl. 5.5 m at 14.6% Cu, 0.7 g/t Au, 0.2% Zn, and 38g/t Ag), and Expands Mineralization on Strike, Towards Surface, and at Depth

·14-min read

TORONTO, January 25, 2022--(BUSINESS WIRE)--Arizona Metals Corp. (TSX.V:AMC, OTCQX:AZMCF) (the "Company" or "Arizona Metals") is pleased to announce the results of an additional fourteen drill holes at its Kay Mine project in Yavapai, County Arizona.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220125005361/en/

Figure 1. Cross section view looking north showing assay intervals in drilling. 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 80%. (Graphic: Business Wire)

Marc Pais, CEO, commented "The fourteen drill holes released today continue to demonstrate the richness and size potential of the Kay Mine system. Virtually all holes drilled to date at Kay have intersected semi-massive to massive sulphide mineralization, with assays pending on 13 more holes, and three holes currently underway.

In Phase 2 drilling, the deposit has been tested to 860 m below surface (in Hole 42C) along a strike length of 300 m and drilling continues to expand Kay mineralization in all directions.

Hole 42C continues to demonstrate exceptional vertical continuity of thickness and grade of the deposit at depth; our deepest hole assayed, it has extended mineralization by 165 m down-plunge of hole 27B, and returned our highest copper grade to date, 18.8%. Hole 46, one of our shallowest holes to date, has also extended the deposit up-plunge by 35 m.

Drilling is currently underway with three drill rigs to test for further extensions of high-grade mineralization, both laterally and targeting depths below 900 m.

Our geological model, especially the modeled orientation of mineralized zones, is evolving rapidly as we drill, and is confirming a deposit considerably larger than reported historically. Our drill program is evolving to reflect these changes, and will soon incorporate results of a recently completed surface structural mapping program, as well as ground-loop EM survey currently underway."

Drilling Highlights

  • Hole KM-21-42C intersected 28 m at a grade of 3.8% Cu, 0.5 g/t Au, 0.3% Zn, and 13 g/t Ag, including a higher-grade interval of 5.5 m grading 14.6% Cu, 0.7 g/t Au, 0.2% Zn, and 38 g/t Ag. This hole extends the high-grade mineralization encountered in Hole 27B approximately by 165 m down-plunge to a depth of 860 m below surface. Hole 42C is the deepest hole assayed so far, and intersected the project’s highest copper grade to date: 18.8% (over 1.4 m from 850.7 m downhole).

  • Hole KM-21-42A intersected 5.6 m at a grade of 6.2% Cu, 0.9 g/t Au, 0.2 % Zn, and 40 g/t Ag, including a higher grade interval of 2.0 m grading 10.7% Cu, 0.9 g/t Au, 0.1% Zn, and 62 g/t Ag. At 30 m farther downhole, this hole intersected 36 m at a grade of 0.6% Cu, 0.6 g/t Au, 1.4% Zn, and 11 g/t Ag. This hole extends the high-grade mineralization encountered in Hole 27B by approximately 145 m down-plunge to a depth of 835 m, and together with holes KM-21-42B and KM-21-42C defines a strike length at depth of approximately 75 m.

  • Hole KM-21-46 intersected 12.4 m at a grade of 2.6 g/t Au, 0.7% Cu, 3.7% Zn, and 41 g/t Ag, including a higher grade interval of 2.8 m grading 5.2 g/t Au, 0.8% Cu, 6.8% Zn and 107 g/t Ag. One of the shallowest holes drilled to date, intersecting mineralization at a vertical a depth of 157 m, this hole extends mineralization by approximately 35 m up-plunge from hole 44.

  • Hole KM-21-50 intersected 12.3 m at a grade of 2.3 g/t Au, 1.0% Cu, 6.4% Zn and 112 g/t Ag, including a higher grade interval of 3.4 m grading 3.6 g/t Au, 9.5% Zn, 2.6% Cu, and 208 g/t Ag. Sixteen meters deeper, this hole intersected 53 m grading 0.4% Cu, 0.8 g/t Au, 1.3% Cu, and 36 g/t Ag, including 7.5 meters grading 1.9 g/t Au, 2.6% Zn, 113 g/t Ag, and 0.3% Cu. Hole 50 confirms good continuity of the new mineralized zone approximately 60 m up-plunge of holes 24 and 26.

  • Hole KM21-52A intersected 29.4 m grading 1.1 g/t Au, 1.4%Zn, 52 g/t Ag, and 0.3% Cu, including a higher grade interval of 6 m at a grade of 2.6 g/t Au, 1.6% Zn, 120 g/t Ag, and 0.3% Cu. Forty-four meters deeper, this hole intersected 21.2 m at a grade of 0.9 g/t Au, 0.8% Zn, 0.1% Cu, and 27 g/t Ag, including a higher grade interval of 4.6 m grading 2.2 g/t Au, 1.3% Zn, and 69 g/t Ag. This deeper interval was intersected at a vertical depth of 817 m and confirms good continuity of mineralization below hole 27B and above holes 42 and 42B.

Summary of Pending Holes that Intersected Massive Sulphide Mineralization:

  • KM-21-57A: Located about midway in the 165 m gap between holes 27B (above) and 42C (below) in the deepest parts of the deposit drilled so far. This hole intersected stringer, semi-massive, and massive sulfide mineralization in two sections over downhole lengths of approximately 7 m and 38 m, starting at 728.6 and 762.3 m hole depth, respectively. Some sections of core reach 80% total sulphides.

  • KM-21-57B: Located 25 m downdip and north of 57A. Shows a ~58-m section of sulfide mineralization from 757.6 m downhole, with up to 75% chalcopyrite.

  • KM-21-58A: In the middle of the deposit, midway between holes 28 and 40. Beginning at 597.1 m downhole, intersected approximately 63 m of sulfide mineralization, comprising massive, semi-massive, and stringer sulfide styles with up to 90% total sulfides.

  • KM-21-60: This is one of a series of holes testing continuity and the northern extent of mineralization near the middle of the deposit’s vertical extent. This hole intersected numerous sections of massive, semi-massive, and stringer mineralization over a down-hole distance of 84 m. This confirms excellent continuity in the 100-m gap between holes 26 and 40, and along with hole 58B (assays pending) adds 15-20 m of additional thickness of mineralization into the footwall in this area.

Structural Mapping Program

In December 2021, the Company completed a detailed surface structural mapping program performed by associates of technical advisor Dr. Mark Hannington, to update and supplement structural mapping completed in 2019. The results of the mapping program will be combined with core logging data to refine drill targets at pads 4, 5, and 6. These pads will test for extensions of the Kay Mine mineralization approximately 500 m north and 300 m south of the main mineralized body. Mapping will also refine drill targets at the Central and West targets, located approximately 0.5 km and 1.3 km, respectively, west of the Kay deposit.

Ground-loop Geophysical Survey Underway

On January 15th, 2022, the Company initiated a ground loop electromagnetic (EM) survey, in order to refine and test the depth extensions of numerous previously untested exploration targets identified by the 2019 helicopter-borne EM survey. The survey will make a detailed examination of targets to the north and south of the Kay Mine, as well as the Central and Western targets.

Kay Mine Phase 2 Drill Program Progression Update

With the assayed holes released today, the Company has completed a total of 41,600 metres at the Kay Mine since inception of drilling. The Company is well financed and fully-funded to complete the remaining 33,000 metres planned for the Phase 2 program, as well as an additional 76,000 metres planned under the Phase 3 program.

Table 1. Results of Phase 2 Drill Program at Kay Mine, Yavapai County, Arizona announced in this news release. The true width of mineralization is estimated to be 50% to 99% of reported core width, with an average of 80%.

Analyzed Grade

Vertical Depth Below Surface m

Hole ID

From m

To m

Length m

Cu %

Au g/t

Zn %

Ag g/t

Pb %

KM-21-42

803.5

810.3

6.9

0.05

1.60

1.58

64.3

0.35

800

KM-21-42

835.5

839.7

4.3

0.63

2.46

2.15

21.7

0.21

816

KM-21-42

853.7

854.7

0.9

0.11

1.63

2.88

28.0

0.40

846

KM-21-42A

786.7

787.6

0.9

0.03

3.61

2.18

17.0

0.70

781

KM-21-42A

805.4

811.1

5.6

6.17

0.92

0.18

39.5

0.01

802

including

807.0

808.9

2.0

10.72

0.87

0.11

61.8

0.00

KM-21-42A

840.9

877.2

36.3

0.55

0.62

1.35

10.7

0.13

848

KM-21-42B

808.0

811.2

3.2

0.29

2.06

5.77

63.0

0.94

790

KM-21-42B

816.9

819.9

3.0

2.31

0.66

1.23

16.0

0.15

810

KM-21-42B

835.5

840.8

5.3

0.02

0.73

2.93

13.5

0.24

828

KM-21-42C

849.2

877.4

28.2

3.81

0.47

0.29

12.5

0.09

850

including

849.2

854.7

5.5

14.57

0.66

0.16

37.5

0.03

including

863.8

869.4

5.6

2.29

1.17

0.59

13.1

0.25

including

874.8

877.4

2.6

2.83

0.26

0.03

7.2

0.01

KM-21-42C

886.1

889.1

3.0

0.87

0.88

0.50

5.2

0.05

855

KM-21-43

583.7

607.1

23.4

0.39

0.25

3.68

3.1

0.02

586

including

598.9

599.8

0.9

0.50

0.18

11.30

3.0

0.03

KM-21-43

616.0

633.1

17.1

1.81

0.17

0.14

8.2

0.03

616

including

631.2

633.1

1.8

6.30

0.61

0.09

25.0

0.01

KM-21-45

459.6

463.0

3.4

0.32

0.62

6.63

82.3

0.87

459

KM-21-46

350.4

362.9

12.4

0.66

2.61

3.69

40.6

0.39

157

including

350.4

353.3

2.8

0.77

5.19

6.83

107.0

0.72

KM-21-47

433.9

435.9

2.0

0.16

1.88

9.28

138.7

2.17

432

KM-21-48

605.2

610.7

5.5

3.54

0.45

0.19

12.7

0.05

606

KM-21-48

630.3

634.6

4.3

1.11

0.34

0.69

12.7

0.11

631

KM-21-48

685.5

696.8

11.3

0.98

0.05

0.06

4.2

0.02

686

KM-21-48

715.1

718.4

3.4

2.08

0.04

0.03

4.3

0.00

716

KM-21-48

723.0

724.5

1.5

1.54

0.07

0.06

4.0

0.02

724

KM-21-48

735.5

743.6

8.1

0.34

0.60

1.52

9.2

0.07

737

KM-21-48A

538.0

539.5

1.5

0.31

1.17

2.79

29.0

0.52

538

KM-21-48A

687.9

696.9

9.0

1.64

0.36

0.79

7.9

0.01

688

including

687.9

688.8

0.9

0.15

1.53

5.35

5.0

0.01

including

694.9

696.0

1.1

8.36

0.80

0.10

40.0

0.03

KM-21-50

489.5

501.9

12.3

0.98

2.30

6.36

111.9

1.24

481

including

489.5

493.0

3.4

2.64

3.59

9.49

207.7

1.65

KM-21-50

509.0

562.1

53.1

0.44

0.84

1.28

35.8

0.27

501

including

538.1

545.6

7.5

0.28

1.94

2.62

112.8

0.82

KM-21-52

751.5

758.2

6.7

1.18

0.66

0.98

18.2

0.14

743

KM-21-52

787.5

789.6

2.1

0.04

1.27

1.68

28.5

0.22

777

KM-21-52A

763.7

793.1

29.4

0.25

1.12

1.36

51.6

0.47

750

including

763.7

764.9

1.2

0.38

3.01

8.69

132.0

1.68

including

771.8

774.5

2.7

1.39

2.46

4.59

116.4

1.82

including

781.5

787.6

6.1

0.31

2.63

1.64

119.5

0.65

KM-21-52A

801.3

802.5

1.2

0.42

0.90

1.29

82.0

0.17

789

KM-21-52A

818.8

820.2

1.4

0.39

1.62

1.29

188.0

0.36

805

KM-21-52A

831.2

852.4

21.2

0.05

0.91

0.80

27.2

0.29

817

including

837.0

841.6

4.6

0.03

2.16

1.34

69.0

0.79

KM-21-55

302.7

308.5

5.8

0.66

0.44

0.53

15.8

0.10

153

Table 2. Full results of Phase 2 Drill Program at Kay Mine, 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

Vertical Depth Below Surface m

Hole ID

From m

To m

Length m

Cu %

Au g/t

Zn %

Ag g/t

Pb %

KM-21-17

429.5

449.9

20.4

1.81

1.10

1.20

21.2

0.17

300

including

429.5

434.0

4.6

4.61

1.73

1.91

29.1

0.24

including

432.7

434.0

1.4

0.52

6.81

8.29

40.0

1.10

KM-21-17

504.4

505.4

0.9

1.19

4.73

0.05

9.0

0.00

356

KM-21-18

404.3

429.8

25.5

0.35

0.86

1.71

15.8

0.23

255

including

408.6

410.6

2.0

0.50

2.22

7.25

64.4

0.82

including

424.9

427.3

2.4

1.60

2.59

3.16

18.0

0.52

KM-21-18A

391.4

423.8

32.5

1.09

0.62

1.25

17.6

0.15

233

including

393.3

395.8

2.4

9.57

2.83

2.72

40.9

0.28

KM-21-19

377.8

378.3

0.5

3.39

5.59

6.83

128.0

0.63

337

KM-21-20

442.7

443.6

0.9

2.56

0.52

3.52

18.5

0.14

362

KM-21-20

456.0

458.1

2.1

1.49

0.35

0.14

6.0

0.04

370

KM-21-21

452.6

495.5

42.8

0.80

0.78

1.52

15.1

0.15

362

including

488.7

493.5

4.8

0.26

2.50

6.13

27.6

0.54

KM-21-21A

422.0

431.4

9.4

1.17

0.57

2.25

8.6

0.36

362

KM-21-21A

439.1

502.1

63.0

0.45

1.28

3.14

58.8

0.77

366

including

465.0

481.9

16.9

0.52

2.45

4.05

80.9

0.99

KM-21-23

394.4

401.4

7.0

0.36

0.93

1.94

13.5

1.17

313

KM-21-23

438.6

459.2

20.6

0.17

1.18

1.93

27.8

0.37

336

KM-21-24

501.2

592.1

90.8

0.45

1.33

3.42

44.3

0.41

470

including

501.2

521.7

20.4

1.34

1.70

6.35

113.1

0.66

including

520.9

521.7

0.8

1.75

16.50

9.55

574.0

1.22

including

575.9

592.1

16.2

0.16

2.50

6.00

44.4

0.79

including

588.7

590.4

1.7

0.47

9.98

23.70

18.2

0.13

KM-21-25

662.6

741.3

78.6

1.41

2.33

2.79

43.4

0.35

638

including

663.2

672.7

9.4

8.06

1.84

1.31

...

0.15

including

693.0

703.9

11.0

0.68

6.28

10.40

99.7

1.17

KM-21-25A

654.7

719.9

65.2

1.04

1.94

2.15

18.8

0.18

...

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