Arizona Metals Corp. (TSX: AMC) has obtained positive drilling results from the Kay Mine Deposit in Arizona.
The results from five additional drill holes demonstrate the significant potential of the deposit and highlight the expansion opportunities within the broader property.
Highlights of the recent drilling include:
- Hole KM-23-103 intersected 10.5m grading 6.2% copper equivalent (CuEq), including 2.7m at 10.5% CuEq and 1.5m at 8.9% CuEq. This hole confirms the high-grade copper and gold mineralization previously encountered in hole KM-21-19. Moreover, it extends the mineralization 20m north of KM-21-19 and 70m north of KM-22-68. The presence of multi-gram gold assays suggests the potential for delineating a high-grade gold zone in the western portion of the Kay Mine Deposit.
- Hole KM-23-105 intercepted 7.3m grading 4.6% CuEq, (including 2.0m at 8.7% CuEq), starting at a depth of 553.2m. Furthermore, at 13m below, the hole intersected 28.8m grading 1.2% CuEq, including 2.3m at 5.9% CuEq. This hole confirms the excellent continuity, thickness, and grade of mineralization within a previously unexplored 50m gap in the central part of the Kay Mine Deposit.
In addition to these promising results, drilling at the Western Target has been ongoing since February 2023.
The first two holes, KM-23-104 and branch hole KM-23-104A, have been completed, and assays are currently pending. Hole KM-23-107 is underway to test for mineralization approximately 250m north of KM-23-104, while hole KM-23-108 is targeting an area approximately 125m south of KM-23-104.
The company has conducted downhole electromagnetic surveys on hole KM-23-104A and on 85% of hole KM-23-107, aimed at identifying extensions of previously observed conductors. The collected data are undergoing analysis and 3D inversion modelling.
To further accelerate exploration efforts, Arizona Metals Corp. has mobilized a third drill rig specifically for targeting extensions of the high-grade mineralization encountered in hole KM-23-103. This rig will also focus on areas with lower drill density, including the northern part of the deposit and shallow areas above a depth of 200m.
“The high-grade copper and gold drill results reported today continue to demonstrate the expansion potential of the Kay Mine Deposit, which we believe is part of a much larger property-wide mineralized system,” CEO, Marc Pais, said.
“We are also pleased to report that drilling of the third and fourth holes at the Western Target has commenced and we are now targeting the fifth drill hole in this area following up visual mineralization encountered in holes 104 and 104A.
“Downhole electromagnetic surveying of the first two Western Target holes has been completed and data are currently being analyzed. Surface outcrop sampling at the Western Target has returned significant grades of both copper and gold, extending the strike length of mineralization exposed at surface in this area to approximately 800m.”
Arizona Metals is fully-funded (with $49M in cash as of March 31, 2023) to complete the remaining 1,250m planned for the Phase 2 drill programme at the Kay Mine Deposit (budgeted at $526,000) as well as an additional 76,000m in the Phase 3 programme (budgeted at $32M), which will be used to test the numerous parallel targets heading west of the Kay Mine Deposit, as well as possible northern and southern extensions.
For further information please visit: https://www.arizonametalscorp.com/
