Business
Arizona Metals Corp. Announces Stock Options Grant
Toronto, Ontario--(Newsfile Corp. - June 4, 2020) - Arizona Metals Corp. (TSXV: AMC) (the " Co...
About this update from Arizona Metals Corp
[{"type":"text","content":"Arizona Metals Corp. Announces Stock Options GrantToronto, Ontario--(Newsfile Corp. - June 4, 2020) - Arizona Metals Corp. (TSXV: AMC) (the \"Company\" or \"AMC\"), would like to announce that it has granted an aggregate of 1,450,000 incentive stock options to certain officers, directors and consultants of the Company under its Stock Option Plan. All options are exercisable at $0.66 per common share, vest immediately on the date of grant and have an expiry date of June 4, 2025.About Arizona Metals Corp.AMC is a mineral exploration company based in Toronto, Ontario. AMC owns 100% of approximately 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, 2.8g/t gold, 3.03% zinc, and 55g/t silver\". 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 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 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.The Kay Mine is a steeply dipping VMS deposit that has been defined from a depth of 150m to at least 900m. 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 0.5g/t (Dausinger, 1983, Westworld Resources). 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 th...