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Arizona Metals Corp Announces Commencement of Fully-Funded 6,000 Metre Surface Exploration Program at its Kay Mine VMS Project in Arizona
TORONTO, Jan. 06, 2020 (GLOBE NEWSWIRE) -- Arizona Metals Corp. (TSX.V:AMC) (the “Company” or “Arizona Metals”) is pleased to announce that on January 4th, 2020
About this update from Arizona Metals Corp
[{"type":"text","content":" TORONTO, Jan. 06, 2020 (GLOBE NEWSWIRE) -- Arizona Metals Corp. (TSX.V:AMC) (the “Company” or “Arizona Metals”) is pleased to announce that on January 4th, 2020 it commenced its fully-funded 6,000m surface drilling program at its Kay Mine VMS project, located in Yavapai County, Arizona. The Company has engaged Boart Longyear Drilling Services to undertake the drill program and International Directional Services LLC to provide directional drilling services. SRK Consulting Inc, was engaged in October 2019 to complete a review of the Kay Mine historic data and its final report was received in December 2019. The purpose of the SRK review was to further refine the drill plan and identify additional potential targets prior to the commencement of drilling. The first assay results of the drill program are expected to be received during Q1 2020, with completion of the drill program anticipated in Q2 2020. The drill for the program is a LF90 track rig with a capability of drilling both HQ and NQ core to a maximum vertical depth of 1,100 m (Figure 1 below). The first phase of drilling will comprise 16 holes, ranging in length from 300m to 650m, with the goal of testing the historic estimate defined by Exxon Minerals in 1982 (Figure 2 and Table 1) and also to test the possible depth extensions of the lenses. The lenses to be tested are along a strike length of approximately 275m and range in depth from approximately 100m to 700m. The bulk of the historic estimate defined by Exxon lies between a depth of 150m and 450m and 12 of the 16 planned drill holes have been targeted to intersect this zone. The remaining 4 holes will test possible extensions of the lenses from a depth of approximately 450m to 600m depth (Figure 3). It is anticipated that the results of this program, along with additional future drilling, could be incorporated into a resource estimate. Short Tons (millions) Copper Grade Gold Grade (g/t) Zinc Grade Silver Grade (g/t) 6.4 2.20% 2.8 3.03% 55 Table 1. Historic estimate by Exxon Minerals in 1982, reported as “proven and probable reserves” The historic estimate at the Kay Mine 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...