Arizona Metals Corp. (TSX:AMC) has received permit approval from the Bureau of Land Management (BLM) for two new drill pads, located approximately 1,200 m west of the Kay Mine Deposit.
These new pads will allow for testing of the Western Target, while also allowing for drilling of additional coincident anomalies located between the Central and Western Targets. The Central and Western Targets were previously defined based on coincident structural, geochemical, and geophysical anomalies (through extensive ground mapping, electromagnetic and gravity surveys).
A bond in the amount of US$21,398 for pads W1 and W2 will be posted with the Bureau of Land Management this week. Construction of the Central Target drill road is currently underway, with drilling expected to commence in November 2022. Road construction for the Western Target will begin on confirmation of bond acceptance, with drilling expected to commence in Q1’2023.
The company is fully-funded (with $60 million in cash at June 30, 2022) to complete the remaining 18,000 meters planned for the Phase 2 programme at Kay, as well as an additional 76,000 meters in the Phase 3 programme (budgeted at $27 million), which will be used to test the numerous parallel targets heading west of the Kay Deposit, as well as the northern and southern extensions of the Kay Deposit.
“We are very pleased to announce the receipt of a permit for two new drill pads, W1 and W2, located approximately 1,200 m west of the Kay Mine Deposit,” CEO, Marc Pais, said.
“These pads will allow drill testing of the Western Target, as well as anomalies located between the Central and Western Targets. This drilling is part of the larger Phase 3 programme, which will total at least 76,000 m and cover the western extent of the Kay Mine Project.
“Drilling will continue at the Kay Mine Deposit, with concurrent goals of further discovery and resource definition.
“The company is fully-funded to continue drilling at the Kay Mine Deposit, while also undertaking the first detailed exploration of the Central and Western Targets in the known history of the property.”
For further information please visit: https://www.arizonametalscorp.com/
