Arizona Metals Begins Trading on OTCQX® Best Market with DTC Eligibility
Arizona Metals Begins Trading on OTCQX® Best Market with DTC
Eligibility
TORONTO--(BUSINESS WIRE)--January 25, 2021--Arizona Metals Corp. (TSXV:AMC,
OTCQX:AZMCF) (the “Company” or “Arizona Metals”) announces that it has qualified to trade
on the OTCQX® Best Market. Arizona Metals Corp. upgraded to OTCQX from the OTCQB®
Venture Market. In addition, the Company has secured DTC eligibility by The Depository Trust
Company ("DTC") for electronic settlement and transfer of its common shares in the United
States.
Arizona Metals Corp. begins trading today on OTCQX under the symbol “AZMCF.” U.S.
investors can find current financial disclosure and Real-Time Level 2 quotes for the company on
https://www.otcmarkets.com/stock/AZMCF/overview.
The OTCQX Market is designed for established, investor-focused U.S. and international
companies. To qualify for OTCQX, companies must meet high financial standards, follow best
practice corporate governance, and demonstrate compliance with applicable securities laws.
Graduating to the OTCQX Market from the OTCQB Market marks an important milestone for
companies, enabling them to demonstrate their qualifications and build visibility among U.S.
investors.
DTC is a subsidiary of the Depository Trust & Clearing Corporation and manages the electronic
clearing and settlement of publicly traded companies. Securities that are eligible to be
electronically cleared and settled through the DTC are considered "DTC eligible". This reduces
costs and accelerates the settlement process for investors and brokers, allowing the stock to be
traded over a much wider selection of brokerage firms by coming into compliance with their
requirements.
Marc Pais, CEO, commented “We are pleased to trade on the OTCQX Market, which will
provide increased accessibility and liquidity for U.S. investors. The timing coincides well with
our Phase 2 drill program at the Kay Mine, which began two weeks ago. We expect to release a
steady flow of drill results over the coming months. We are expecting to close an over-
subscribed private placement of CDN$10 million later this week, which will put us in a very
strong financial position to complete an aggressive drill program. We will issue another press
release on closing of the financing.”
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, 2.8 g/t gold, 3.03% zinc, and 55 g/t
silver.” The historic estimate at the Kay Mine was reported by Exxon Minerals in 1982.
(Fellows, M.L., 1982, Kay Mine massive sulphide deposit: Internal report prepared for Exxon
Minerals Company)
*The Kay Mine 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 60 m to at
least 900 m. 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 0.5 g/t
(Dausinger, N.E., 1983, Phase 1 Drill Program and Evaluation of Gold-Silver Potential,
Sugarloaf Peak Project, Quartzsite, Arizona: Report for Westworld Inc.)
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 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 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 Qualified Person who reviewed and approved the technical disclosure in this release is
David Smith, CPG.
Quality Assurance/Quality Control
All of Arizona Metals’ drill sample assay results have been independently monitored through a
quality assurance/quality control (“QA/QC”) protocol which includes the insertion of blind
standard reference materials and blanks at regular intervals. Logging and sampling were
completed at Arizona Metals’ core handling facilities located in Anthem and Black Canyon City,
Arizona. Drill core was diamond sawn on site and half drill-core samples were securely
transported to ALS Laboratories’ (“ALS”) sample preparation facility in Tucson, Arizona.
Sample pulps were sent to ALS’s labs in Vancouver, Canada, for analysis.
Gold content was determined by fire assay of a 30-gram charge with ICP finish (ALS method
Au-AA23). Silver and 32 other elements were analyzed by ICP methods with four-acid digestion
(ALS method ME-ICP61a). Over-limit samples for Au, Ag, Cu, and Zn were determined by ore-
grade analyses Au-GRA21, Ag-OG62, Cu-OG62, and Zn-OG62, respectively.
ALS Laboratories is independent of Arizona Metals Corp. and its Vancouver facility is ISO
17025 accredited. ALS also performed its own internal QA/QC procedures to assure the
accuracy and integrity of results. Parameters for ALS’ internal and Arizona Metals’ external
blind quality control samples were acceptable for the samples analyzed. Arizona Metals is not
aware of any drilling, sampling, recovery, or other factors that could materially affect the
accuracy or reliability of the data referred to herein.
This press release contains statements that constitute “forward-looking information”
(collectively, “forward-looking statements”) within the meaning of the applicable Canadian
securities legislation, All statements, other than statements of historical fact, are forward-
looking statements and are based on expectations, estimates and projections as at the date of this
news release. Any statement that discusses predictions, expectations, beliefs, plans, projections,
objectives, assumptions, future events or performance (often but not always using phrases such
as “expects”, or “does not expect”, “is expecte d”, “anticipates” or “does not anticipate”,
“plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or
variations of such words and phrases or stating that certain actions, events or results “may” or
“could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of
historical fact and may be forward-looking statements. Forward-looking statements contained in
this press release include, without limitation, statements regarding the acquisition of the
Property, including completion of due diligence and the satisfaction of the Company’s payment
obligations under the Purchase Agreement, and the completion of the Offering. In making the
forward- looking statements contained in this press release, the Company has made certain
assumptions. Although the Company believes that the expectations reflected in forward-looking
statements are reasonable, it can give no assurance that the expectations of any forward-looking
statements will prove to be correct. Known and unknown risks, uncertainties, and other factors
which may cause the actual results and future events to differ materially from those expressed or
implied by such forward-looking statements. Such factors include, but are not limited to:
availability of financing; delay or failure to receive required permits or regulatory approvals;
and general business, economic, competitive, political and social uncertainties. Accordingly,
readers should not place undue reliance on the forward-looking statements and information
contained in this press release. Except as required by law, the Company disclaims any intention
and assumes no obligation to update or revise any forward-looking statements to reflect actual
results, whether as a result of new information, future events, changes in assumptions, changes
in factors affecting such forward- looking statements or otherwise.
NEITHER THE TSX VENTURE EXCHANGE (NOR ITS REGULATORY SERVICE PROVIDER)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Not for distribution to US newswire services or for release, publication, distribution or
dissemination directly, or indirectly, in whole or in part, in or into the United States
Contacts
Marc Pais
President and CEO Arizona Metals Corp.
(416) 565-7689
www.arizonametalscorp.com
https://twitter.com/ArizonaCorp