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Arizona Metals Corp Announces Temporary Suspension of Kay Mine Drill Program in Precautionary Response to COVID-19 Pandemic
Toronto, Ontario--(Newsfile Corp. - March 27, 2020) - Arizona Metals Corp. (TSXV: AMC) (the "C...
About this update from Arizona Metals Corp
[{"type":"text","content":"Arizona Metals Corp Announces Temporary Suspension of Kay Mine Drill Program in Precautionary Response to COVID-19 PandemicToronto, Ontario--(Newsfile Corp. - March 27, 2020) - Arizona Metals Corp. (TSXV: AMC) (the \"Company\" or \"Arizona Metals\") announces the temporary suspension the Kay Mine drill program, located near Black Canyon City, Arizona, in order to protect the safety of employees, contractors, and the local community in response to the COVID-19 pandemic. No cases of infection have been reported in any of the Company's employees or contractors working at the Kay Mine site. Arizona Metals' employees and contractors are safely demobilizing and securing the drill site, and will be ready to resume operations as soon as conditions allow.Nine holes of the sixteen hole Phase 1 drill program have been completed, and assay results are pending. The Company has a strong cash position of approximately $3M, and will now focus efforts on modelling drill data received to date in order to refine planned targets for the resumption of drilling.About Arizona Metals Corp.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 compliant with current NI 43-101 standards. 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...