Arizona Metals Corp’s Kay Mine Drilling Intersects 93.3 m at 8.3 g/t AuEq (incl. 17.5 m at 29.6 g/t AuEq) and 125.3 m at 3.2% CuEq
Arizona Metals Corp’s Kay Mine Drilling Intersects 93.3 m at 8.3 g/t AuEq
(incl. 17.5 m at 29.6 g/t AuEq) and 125.3 m at 3.2% CuEq
TORONTO--(BUSINESS WIRE)--April 11, 2022--Arizona Metals Corp. (TSX.V:AMC,
OTCQX:AZMCF) (the “Company” or “Arizona Metals”) is pleased to announce the results of
two recently completed drill holes at its Kay Mine project in Yavapai, County Arizona. An
additional 20 holes are pending, with three drill rigs turning 24 hours per day.
Drilling Highlights
Hole KM-21-60 intersected 93.3 m at a grade of 8.3 g/t AuEq, including a higher-grade
interval of 17.5 m grading 29.6 g/t AuEq, from a depth of 557 m. This hole is in the
central portion of the deposit, and demonstrates excellent continuity of mineralization
between holes 26, 28, 25A, 57A and 40. This hole returned the project’s highest single
gold assay, a value of 273 g/t Au (over 1.2 meters from 634.3 m downhole).
Hole KM-21-57B intersected 125.3 m at a grade of 3.2% CuEq, including higher grade
intervals of 1.8 m grading 9.9% CuEq and 7.3 m grading 7.7% CuEq, from a depth of
728 m. This hole demonstrates continuity and extension of mineralization between holes
26, 28, 25A, and 40, and 58B. Hole 57B contains the project’s highest copper analysis to
date, grading 20.7% Cu (over 1.5 m from 802.2 m downhole).
Hole 60 has extended the thickness of the mineralized zone encountered in hole 58B (located 23
metres up-plunge) by approximately 5 metres into the hanging-wall and 10 metres in the
footwall. Hole 57B has extended the mineralized zone encountered in hole 57A (located 33
metres up-plunge) by approximately 10 metres into the hanging-wall and 22 metres into the
footwall. Assays received to date have intersected mineralization over a down-plunge extent of
760 m (880 m below surface). Holes 57B and 60, spaced 310 metres apart down-plunge from the
top of mineralization in 60 to the bottom of mineralization in 57B, continue to demonstrate the
excellent vertical continuity of very thick zones of mineralization.
Marc Pais, CEO, commented “Drilling at the Kay Mine Project continues to intersect very
large widths and high grades of massive sulphide mineralization. The holes released today
demonstrate excellent continuity of mineralization in all directions, while also showing that
mineralization is substantially thicker than suggested by our original modelling. Drilling has
extended mineralization well into both the hanging-wall and foot-wall envelopes, which gives the
potential to define a significant tonnage of mineralization.
Hole 60 encountered the highest grade of gold mineralization at Kay assayed to date, with
visible gold in the core (Fig. 4 below) while hole 57B encountered the longest interval of copper-
dominant mineralization assayed to date. Drilling is currently underway to test for depth
extensions to at least 1,200 meters, while also testing for lateral extensions of the thick hinge
zone. The 20 holes pending all encountered semi-massive or massive sulphide mineralization,
and those intersections are guiding the drilling currently underway.
Holes 57B and 60, spaced 310 metres apart down-plunge from the top of 60 to the bottom of
57B, continue to demonstrate the excellent vertical continuity of very thick zones of
mineralization. The large widths and high grades being encountered at Kay are extremely rare
in the context of VMS deposits either in production or being explored globally.
We have drilled approximately 52,000 meters at Kay to date, with each hole solidifying our
opinion that this is one of the very few large precious-metals rich VMS deposits not yet mined,
and more importantly, is potentially part of a much larger mineralized system that has yet to be
explored. To that end, we recently completed a property-wide ground-loop electromagnetic
survey, which will serve to refine and improve the resolution of the Central and Western targets,
located approximately 300 meters and 1,000 meters west of Kay, respectively. Drill pad and
road permitting is currently underway for these targets, with a detailed update expected in the
next few weeks.”
Kay Mine Phase 2 Drill Program Update
With the assayed holes released today, the Company has completed a total of 52,000 meters at
the Kay Mine since inception of drilling. The Company is fully-funded to complete the
remaining 23,000 meters planned for the Phase 2 program with the priority focus areas for
upcoming drilling (shown in Figure 5 below), as well as an additional 76,000 meters in the
upcoming Phase 3 program which will be used to test the numerous parallel targets heading West
of Kay and the Northern and Southern Extensions of the Kay Deposit.
Table 1. Results of Phase 2 Drill Program at Kay Mine, Yavapai County, Arizona announced in
this news release.
Analyzed Grade Analyzed Metal
Equivalent Metal Equivalent Vertical
Depth
Below
Surface
m Hole ID From
m To
m Length
m Cu % Au g/t Zn % Ag
g/t Pb % Cu
eq % Au eq
g/t Zn
eq% Cu
eq % Au eq
g/t Zn
eq%
KM-22-
57B
736.7
862.0
125.3
2.40
0.90
1.29
18.7
0.13
3.62
5.93
9.42
3.20
5.25
8.33
728
including 739.7 741.6 1.8 9.42 2.37 0.32 8.5 0.03 11.06 18.12 28.76 9.93 16.28 25.84
including 798.3 805.6 7.3 6.35 0.81 3.76 19.5 0.14 8.47 13.89 22.04 7.72 12.65 20.08
KM-22-
60
554.7
648.0
93.3
1.36
5.65
3.25
32.6
0.34
6.39
10.47
16.62
5.08
8.32
13.21
557
including 591.6 597.7 6.1 0.58 5.62 12.00 56.3 1.40 9.37 15.37 24.38 7.78 12.75 20.24
including 627.0 644.5 17.5 5.22 25.37 4.71 100.6 0.59 23.44 38.42 60.98 18.05 29.59 46.95
including 634.3 635.5 1.2 5.63 273.00 0.18 715.0 0.28 177.99 291.74 462.98 126.03 206.57 327.82
The true width of mineralization is estimated to be 50% to 99% of reported core width, with an
average of 76%. (2) Assumptions used in USD for the copper and gold Metal Equivalent
calculations were metal prices of $4.63/lb Copper, $1937/oz Gold, $25/oz Silver, $1.78/lb Zinc,
and $1.02/lb Pb. Assumed metal recoveries (rec.), based on a preliminary review of historic data
by SRK and ProcessIQ1, were 93% for copper, 92% for zinc, 90% for lead, 72% silver, and 70%
for gold. The following equation was used to calculate copper equivalence: CuEq = Copper (%)
(93% rec.) + (Gold (g/t) x 0.61)(72% rec.) + (Silver (g/t) x 0.0079)(72% rec.) + (Zinc (%) x
0.3844)(93% rec.) +(Lead (%) x 0.2203)(93% rec.). The following equation was used to
calculate gold equivalence: AuEq = Gold (g/t)(72% rec.) + (Copper (%) x 1.638)(93% rec.) +
(Silver (g/t) x 0.01291)(72% rec.) + (Zinc (%) x 0.6299)(93% rec.) +(Lead (%) x 0.3609)(93%
rec.). Analyzed Metal Equivalent calculations are reported for illustrative purposes only. The
metal chosen for reporting on an equivalent basis is the one that contributes the most dollar value
after accounting for assumed recoveries.
Table 2. Full results of Phase 2 Drill Program at Kay Mine, Yavapai County, Arizona.
Analyzed Grade Analyzed Metal
Equivalent
Metal Equivalent
V
BeHole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb % Cu eq % Au eq g/t Zn eq% Cu eq % Au eq g/t Zn eq%
KM-21-
17
429.5
449.9
20.4
1.81
1.10
1.20
21.2
0.17
3.14
5.15
8.18
2.73
4.47
7.10
including 429.5 434.0 4.6 4.61 1.73 1.91 29.1 0.24 6.68 10.96 17.39 5.92 9.70 15.39
including 432.7 434.0 1.4 0.52 6.81 8.29 40.0 1.10 8.41 13.79 21.89 6.76 11.09 17.60
KM-21-
17
504.4
505.4
0.9
1.19
4.73
0.05
9.0
0.00
4.17
6.83
10.84
3.20
5.24
8.31
KM-21-
18
404.3
429.8
25.5
0.35
0.86
1.71
15.8
0.23
1.71
2.80
4.44
1.43
2.35
3.72
including 408.6 410.6 2.0 0.50 2.22 7.25 64.4 0.82 5.33 8.74 13.87 4.51 7.39 11.72
including 424.9 427.3 2.4 1.60 2.59 3.16 18.0 0.52 4.66 7.64 12.12 3.92 6.43 10.21
KM-21-
18A
391.4
423.8
32.5
1.09
0.62
1.25
17.7
0.15
2.13
3.48
5.53
1.85
3.04
4.82
including 393.3 395.8 2.4 9.57 2.83 2.72 40.9 0.28 12.73 20.87 33.12 11.36 18.63 29.56
KM-21-
19
377.8
378.3
0.5
3.39
5.59
6.83
128.0
0.63
10.58
17.34
27.52
8.81
14.44
22.92
KM-21-
20
442.7
443.6
0.9
2.56
0.52
3.52
18.5
0.14
4.40
7.22
11.45
3.98
6.52
10.34
KM-21-
20
456.0
458.1
2.1
1.49
0.35
0.14
6.0
0.04
1.81
2.97
4.71
1.63
2.66
4.23
KM-21-
21
452.6
495.5
42.8
0.80
0.78
1.52
15.1
0.15
2.01
3.29
5.22
1.73
2.83
4.49
including 488.7 493.5 4.8 0.26 2.50 6.13 27.6 0.54 4.48 7.34 11.65 3.74 6.13 9.73
KM-21-
21A
422.0
431.4
9.4
1.17
0.57
2.25
8.6
0.36
2.53
4.15
6.58
2.25
3.68
5.85
KM-21-
21A
439.1
502.1
63.0
0.45
1.28
3.14
58.8
0.77
3.08
5.04
8.00
2.57
4.21
6.67
including 465.0 481.9 16.9 0.52 2.45 4.05 80.9 0.99 4.43 7.26 11.53 3.62 5.94 9.42
KM-21-
23
394.4
401.4
7.0
0.36
0.93
1.94
13.5
1.17
2.05
3.35
5.32
1.73
2.84
4.51
KM-21-
23
438.6
459.2
20.6
0.17
1.18
1.93
27.8
0.37
1.94
3.17
5.03
1.58
2.59
4.11
KM-21-
24
501.2
592.1
90.8
0.45
1.33
3.42
44.6
0.41
3.02
4.95
7.86
2.53
4.15
6.59
including 501.2 521.7 20.4 1.34 1.70 6.35 113.1 0.66 5.86 9.60 15.24 4.99 8.18 12.99
including 520.9 521.7 0.8 1.75 16.50 9.55 574.0 1.22 20.31 33.29 52.82 15.57 25.52 40.50
including 575.9 592.1 16.2 0.16 2.50 6.00 44.4 0.79 4.51 7.40 11.74 3.75 6.14 9.74
including 588.7 590.4 1.7 0.47 9.98 23.70 18.2 0.13 15.84 25.96 41.20 13.21 21.65 34.36
KM-21-
25
662.6
741.3
78.6
1.41
2.33
2.79
43.4
0.35
4.33
7.10
11.26
3.61
5.92
9.40
including 663.2 672.7 9.4 8.06 1.84 1.31 92.3 0.15 10.45 17.13 27.18 9.30 15.24 24.19
including 693.0 703.9 11.0 0.68 6.28 10.40 99.7 1.17 9.56 15.66 24.86 7.79 12.77 20.27
KM-21-
25A
654.7
719.9
65.2
1.04
1.94
2.15
18.9
0.18
3.25
5.32
8.44
2.71
4.43
7.04
including 655.5 662.8 7.3 3.66 2.09 1.85 30.2 0.21 5.93 9.73 15.44 5.17 8.47 13.44
including 710.8 716.9 6.1 2.72 7.95 3.73 37.4 0.31 9.37 15.36 24.38 7.52 12.33 19.56
KM-21-
25B
647.2
648.9
1.7
0.13
0.58
2.41
62.1
0.64
2.04
3.35
5.31
1.70
2.79
4.42
KM-21-
25B
655.6
659.9
4.3
0.93
0.91
0.91
25.3
0.19
2.07
3.40
5.40
1.75
2.88
4.56
KM-21-
25B
666.0
667.8
1.8
0.60
0.72
2.98
33.5
0.43
2.55
4.18
6.63
2.20
3.61
5.72
KM-21-
25B
673.3
674.7
1.4
0.08
2.10
2.39
23.0
0.33
2.53
4.15
6.58
2.01
3.29
5.23
KM-21-
25B
681.2
682.6
1.4
0.09
1.54
2.98
11.0
0.35
2.34
3.83
6.08
1.93
3.16
5.01
KM-21-
26
506.7
582.8
76.0
0.79
1.61
4.23
32.7
0.54
3.78
6.19
9.83
3.21
5.27
8.36
including 511.1 526.1 14.9 0.73 1.78 9.68 43.3 0.77 6.05 9.92 15.74 5.26 8.63 13.69
including 573.8 582.8 9.0 4.02 6.06 3.32 18.2 0.19 9.18 15.04 23.87 7.64 12.52 19.87
KM-21-
27
706.8
738.2
31.4
1.58
0.16
0.69
9.0
0.06
2.03
3.33
5.28
1.85
3.03
4.80
KM-21-
27
764.4
777.4
13.0
2.85
0.48
0.17
8.5
0.02
3.29
5.39
8.55
2.97
4.87
7.73
KM-21-
27A
666.3
769.4
103.1
0.79
1.06
1.90
35.8
0.42
2.54
4.17
6.62
2.15
3.52
5.59
including 666.3 687.0 20.7 3.21 1.39 1.26 19.4 0.20 4.74 7.77 12.33 4.18 6.84 10.86
including 706.4 724.6 18.3 0.69 2.69 4.70 92.2 1.21 5.13 8.41 13.35 4.22 6.91 10.97
including 752.9 763.8 11.0 0.07 1.07 4.68 95.3 0.98 3.49 5.73 9.09 2.92 4.78 7.59
KM-21-
27B
665.8
762.9
97.1
1.31
1.62
3.21
31.7
0.40
3.88
6.35
10.08
3.31
5.42
8.61
including 702.0 723.0 21.0 0.87 4.56 9.03 81.5 1.10 8.01 13.13 20.83 6.63 10.87 17.25
including 723.0 738.2 15.2 4.97 0.36 0.42 18.7 0.05 5.51 9.03 14.33 5.04 8.26 13.11
KM-21-
28
640.7
694.9
54.3
1.87
2.85
5.03
29.4
0.70
5.93
9.72
15.43
5.04
8.26
13.12
including 660.2 671.6 11.4 0.54 4.29 9.30 32.2 1.17 7.24 11.87 18.84 6.04 9.89 15.70
including 681.1 689.0 7.9 4.39 9.47 10.34 93.1 2.41 15.42 25.27 40.10 12.80 20.98 33.29
including 690.4 692.6 2.2 16.06 0.82 0.06 55.8 0.01 17.02 27.90 44.28 15.62 25.61 40.64
KM-21-
29
393.0
393.8
0.8
0.43
1.54
4.92
9.0
0.21
3.38
5.54
8.79
2.89
4.74
7.53
KM-21-
30
264.9
267.9
3.0
1.18
0.02
0.01
1.5
0.00
1.21
1.98
3.15
1.12
1.83
2.91
KM-21-
32
316.4
320.0
3.7
1.84
1.29
2.47
38.5
0.30
3.95
6.47
10.27
3.41
5.60
8.88
KM-21-
32
342.9
345.9
3.0
0.67
0.52
2.70
13.0
0.15
2.16
3.54
5.62
1.90
3.12
4.95
KM-21-
32
358.9
368.4
9.4
0.60
1.47
1.99
45.7
0.35
2.70
4.42
7.01
2.22
3.63
5.76
KM-21-
33
171.3
172.5
1.2
3.79
0.45
0.21
63.0
0.17
4.69
7.68
12.19
4.19
6.86
10.89
KM-21-
34
299.3
303.9
4.6
0.29
1.69
0.94
46.3
0.26
2.12
3.47
5.50
1.65
2.70
4.29
KM-21-
34
309.7
310.9
1.2
2.27
0.56
1.55
19.9
0.08
3.38
5.54
8.80
3.03
4.96
7.87
KM-21-
35
609.6
615.1
5.5
0.92
1.26
1.71
57.7
0.02
2.80
4.60
7.29
2.33
3.82
6.06
including 609.6 613.0 3.4 1.39 1.69 1.98 54.0 0.01 3.61 5.92 9.40 3.03 4.96 7.87
KM-21-
38
406.5
407.8
1.4
0.60
1.08
9.41
4.0
0.25
4.96
8.13
12.90
4.42
7.24
11.49
KM-21-
38
467.4
476.1
8.7
0.09
1.73
3.87
61.1
1.22
3.38
5.55
8.80
2.78
4.56
7.23
including 470.0 475.2 5.2 0.12 2.44 5.68 87.5 1.79 4.88 8.01 12.71 4.02 6.59 10.46
KM-21-
40
589.8
613.8
24.0
4.98
0.61
0.98
23.4
0.45
6.01
9.86
15.65
5.46
8.95
14.21
including 589.8 597.9 8.1 7.63 0.43 0.39 27.1 0.17 8.30 13.60 21.58 7.61 12.47 19.78
KM-21-
40
627.9
680.8
52.9
0.47
2.91
3.40
35.7
0.40
3.93
6.44
10.22
3.17
5.20
8.25
including 641.1 648.3 7.2 1.15 7.66 8.27 88.5 0.92 9.90 16.23 25.76 7.95 13.03 20.68
including 670.3 674.1 3.8 1.53 10.89 9.47 24.6 0.61 12.15 19.91 31.59 9.69 15.88 25.19
KM-21-
41
462.6
559.3
96.7
1.04
1.54
2.66
40.8
0.35
3.41
5.59
8.86
2.87
4.71
7.47
including 503.2 514.2 11.0 0.99 5.34 8.17 106.3 1.63 8.59 14.08 22.35 7.02 11.51 18.26
including 546.7 558.1 11.4 5.86 5.83 3.24 185.4 0.04 12.14 19.90 31.58 10.15 16.64 26.40
including 553.1 556.9 3.8 7.11 9.55 5.70 505.8 0.09 19.16 31.41 49.84 15.62 25.59 40.62
KM-21-
42
803.5
810.3
6.9
0.05
1.60
1.58
64.3
0.35
2.22
3.64
5.78
1.73
2.83
4.49
KM-21-
42
835.5
839.7
4.3
0.63
2.46
2.15
21.7
0.21
3.18
5.20
8.26
2.56
4.20
6.67
KM-21-
42
853.7
854.7
0.9
0.11
1.63
2.88
28.0
0.40
2.52
4.13
6.55
2.05
3.37
5.34
KM-21-
42A
786.7
787.6
0.9
0.03
3.61
2.18
17.0
0.70
3.36
5.51
8.74
2.58
4.22
6.70
KM-21-
42A
805.4
811.1
5.6
6.17
0.92
0.18
39.5
0.01
7.12
11.68
18.53
6.43
10.54
16.72
including 807.0 808.9 2.0 10.72 0.87 0.11 61.8 0.00 11.79 19.32 30.66 10.74 17.60 27.93
KM-21-
42A
840.9
877.2
36.3
0.55
0.62
1.35
10.7
0.13
1.56
2.56
4.06
1.34
2.20
3.49
KM-21-
42B
808.0
811.2
3.2
0.29
2.06
5.77
63.0
0.94
4.47
7.33
11.63
3.74
6.13
9.72
KM-21-
42B
816.9
819.9
3.0
2.31
0.66
1.23
16.0
0.15
3.35
5.49
8.71
2.99
4.90
7.77
KM-21-
42B
835.5
840.8
5.3
0.02
0.73
2.93
13.5
0.24
1.75
2.87
4.56
1.49
2.45
3.88
KM-21-
42C
849.2
877.4
28.2
3.81
0.47
0.29
12.5
0.09
4.32
7.08
11.24
3.93
6.44
10.23
including 849.2 854.7 5.5 14.57 0.66 0.16 37.5 0.03 15.34 25.14 39.89 14.11 23.12 36.70
including 863.8 869.4 5.6 2.29 1.17 0.59 13.1 0.25 3.39 5.55 8.81 2.96 4.85 7.70
including 874.8 877.4 2.6 2.83 0.26 0.03 7.2 0.01 3.06 5.02 7.96 2.80 4.59 7.28
KM-21-
42C
886.1
889.1
3.0
0.87
0.88
0.50
5.2
0.05
1.65
2.71
4.30
1.40
2.30
3.65
KM-21-
43
583.7
607.1
23.4
0.39
0.25
3.68
3.1
0.02
1.98
3.25
5.15
1.79
2.93
4.65
including 598.9 599.8 0.9 0.50 0.18 11.30 3.0 0.03 4.99 8.17 12.97 4.56 7.48 11.87
KM-21-
43
616.0
633.1
17.1
1.81
0.17
0.14
8.2
0.03
2.04
3.34
5.31
1.86
3.05
4.84
including 631.2 633.1 1.8 6.30 0.61 0.09 25.0 0.01 6.91 11.32 17.97 6.30 10.32 16.38
KM-21-
44
353.4
377.3
23.9
0.34
0.97
2.52
18.3
0.33
2.12
3.47
5.50
1.79
2.93
4.65
including 354.0 356.6 2.6 0.23 2.14 7.97 38.9 0.68 5.06 8.29 13.15 4.30 7.05 11.19
KM-21-
45
459.6
463.0
3.4
0.32
0.62
6.63
82.3
0.87
4.10
6.71
10.65
3.55
5.82
9.24
including 461.2 462.1 0.9 0.15 1.23 16.90 182.0 2.50 9.39 15.38 24.41 8.17 13.39 21.26
KM-21-
46
350.4
362.9
12.4
0.66
2.61
3.69
40.6
0.39
4.08
6.69
10.61
3.34
5.48
8.70
including 350.4 353.3 2.8 0.77 5.19 6.83 107.0 0.72 7.58 12.42 19.70 6.11 10.01 15.88
KM-21-
47
433.9
435.9
2.0
0.16
1.88
9.28
138.7
2.17
6.46
10.58
16.79
5.46
8.95
14.20
KM-21-
48
605.2
610.7
5.5
3.54
0.45
0.19
12.7
0.05
4.00
6.55
10.40
3.63
5.95
9.45
KM-21-
48
630.3
634.6
4.3
1.11
0.34
0.69
12.7
0.11
1.71
2.80
4.45
1.52
2.49
3.95
KM-21-
48
685.5
696.8
11.3
0.98
0.05
0.06
4.2
0.02
1.07
1.75
2.77
0.98
1.60
2.54
KM-21-
48
715.1
718.4
3.4
2.08
0.04
0.03
4.3
0.01
2.15
3.52
5.59
1.98
3.25
5.16
KM-21-
48
723.0
724.5
1.5
1.54
0.07
0.06
4.0
0.02
1.64
2.68
4.26
1.51
2.47
3.92
KM-21-
48
735.5
743.6
8.1
0.34
0.60
1.52
9.2
0.07
1.38
2.26
3.59
1.18
1.93
3.06
KM-21-
48A
538.0
539.5
1.5
0.31
1.17
2.79
29.0
0.52
2.44
4.01
6.36
2.05
3.35
5.32
KM-21-
48A
687.9
696.9
9.0
1.64
0.36
0.79
7.9
0.01
2.23
3.66
5.80
2.01
3.29
5.22
including 687.9 688.8 0.9 0.15 1.53 5.35 5.0 0.01 3.18 5.21 8.27 2.71 4.45 7.06
including 694.9 696.0 1.1 8.36 0.80 0.10 40.0 0.03 9.21 15.10 23.96 8.39 13.75 21.81
KM-21-
50
489.5
501.9
12.3
0.98
2.30
6.36
111.9
1.24
5.99
9.81
15.57
5.02
8.24
13.07
including 489.5 493.0 3.4 2.64 3.59 9.49 207.7 1.65 10.49 17.20 27.30 8.86 14.52 23.05
KM-21-
50
509.0
562.1
53.1
0.44
0.84
1.28
35.8
0.27
1.79
2.93
4.65
1.48
2.42
3.84
including 538.1 545.6 7.5 0.28 1.94 2.62 112.8 0.82 3.55 5.81 9.23 2.82 4.63 7.34
KM-21-
51B
860.5
870.2
9.8
3.00
0.13
0.10
6.5
0.05
3.18
5.21
8.27
2.93
4.80
7.62
including 864.7 865.6 0.9 8.70 0.09 0.09 16.0 0.10 8.93 14.64 23.24 8.27 13.55 21.51
KM-21-
51B
881.5
884.2
2.7
0.52
0.22
0.62
28.3
0.14
1.15
1.88
2.98
0.99
1.61
2.56
KM-21-
51B
893.7
903.4
9.8
1.51
0.10
0.06
4.4
0.01
1.63
2.67
4.24
1.49
2.45
3.89
including 898.2 899.3 1.1 6.56 0.11 0.10 15.0 0.04 6.79 11.13 17.67 6.28 10.29 16.32
KM-21-
52
751.5
758.2
6.7
1.18
0.66
0.98
18.2
0.14
2.14
3.50
5.56
1.86
3.05
4.84
KM-21-
52
787.5
789.6
2.1
0.04
1.27
1.68
28.5
0.22
1.73
2.84
4.50
1.38
2.25
3.58
KM-21-
52A
763.7
793.1
29.4
0.25
1.12
1.36
51.6
0.47
1.97
3.22
5.11
1.58
2.58
4.10
including 763.7 764.9 1.2 0.38 3.01 8.69 132.0 1.68 6.97 11.43 18.13 5.80 9.50 15.08
including 771.8 774.5 2.7 1.39 2.46 4.59 116.4 1.82 5.98 9.81 15.56 5.00 8.19 12.99
including 781.5 787.6 6.1 0.31 2.63 1.64 119.5 0.65 3.64 5.97 9.47 2.81 4.60 7.30
KM-21-
52A
801.3
802.5
1.2
0.42
0.90
1.29
82.0
0.17
2.15
3.52
5.59
1.73
2.83
4.50
KM-21-
52A
818.8
820.2
1.4
0.39
1.62
1.29
188.0
0.36
3.45
5.65
8.96
2.66
4.35
6.91
KM-21-
52A
831.2
852.4
21.2
0.05
0.91
0.80
27.2
0.29
1.19
1.95
3.10
0.93
1.52
2.42
including 837.0 841.6 4.6 0.03 2.16 1.34 69.0 0.79 2.59 4.24 6.73 1.98 3.24 5.14
KM-21-
55
302.7
308.5
5.8
0.66
0.44
0.53
15.8
0.10
1.28
2.10
3.33
1.10
1.80
2.86
KM-21-
56
434.6
435.9
1.2
1.53
0.39
0.13
19.0
0.01
1.97
3.23
5.12
1.75
2.86
4.54
KM-21-
56
499.1
501.5
2.4
1.53
0.18
7.15
6.4
0.02
4.45
7.29
11.57
4.07
6.68
10.59
including 499.1 500.2 1.1 1.97 0.31 14.55 7.0 0.02 7.81 12.81 20.33 7.16 11.73 18.61
KM-21-
56
524.0
525.0
1.1
0.97
0.12
0.07
5.0
0.03
1.12
1.83
2.91
1.01
1.66
2.64
KM-21-
56
558.2
563.6
5.3
0.82
0.99
3.09
27.0
0.06
2.84
4.65
7.38
2.44
4.00
6.35
KM-21-
56
577.0
578.2
1.2
0.02
1.66
0.47
5.0
0.02
1.26
2.06
3.27
0.92
1.52
2.41
KM-21-
57
776.5
784.3
7.8
0.26
2.30
2.59
57.9
0.68
3.27
5.36
8.51
2.61
4.28
6.79
including 777.8 778.8 0.9 0.25 6.62 11.45 105.0 3.33 10.26 16.81 26.68 8.37 13.72 21.77
KM-21-
57
819.9
835.5
15.5
1.29
2.17
2.58
90.9
0.27
4.39
7.19
11.41
3.61
5.92
9.40
including 824.0 827.5 3.5 3.69 4.67 3.81 228.5 0.29 9.88 16.19 25.69 8.13 13.33 21.15
KM-21-
57
852.5
853.6
1.1
0.30
3.10
2.33
92.0
0.57
3.94
6.46
10.25
3.06
5.02
7.97
KM-21-
57A
728.6
735.5
6.9
2.49
1.04
0.57
6.6
0.02
3.40
5.57
8.84
3.00
4.92
7.81
KM-21-
57A
759.6
821.4
61.9
1.08
2.60
3.73
32.0
0.50
4.46
7.31
11.60
3.71
6.08
9.65
including 762.3 783.3 21.0 0.42 6.78 9.49 67.9 0.49 8.84 14.50 23.00 7.12 11.67 18.52
KM-22-
57B
736.7
862.0
125.3
2.40
0.90
1.29
18.7
0.13
3.62
5.93
9.42
3.20
5.25
8.33
including 739.7 741.6 1.8 9.42 2.37 0.32 8.5 0.03 11.06 18.12 28.76 9.93 16.28 25.84
including 798.3 805.6 7.3 6.35 0.81 3.76 19.5 0.14 8.47 13.89 22.04 7.72 12.65 20.08
KM-22-
60
554.7
648.0
93.3
1.36
5.65
3.25
32.6
0.34
6.39
10.47
16.62
5.08
8.32
13.21
including 591.6 597.7 6.1 0.58 5.62 12.00 56.3 1.40 9.37 15.37 24.38 7.78 12.75 20.24
including 627.0 644.5 17.5 5.22 25.37 4.71 100.6 0.59 23.44 38.42 60.98 18.05 29.59 46.95
including 634.3 635.5 1.2 5.63 273.00 0.18 715.0 0.28 177.99 291.74 462.98 126.03 206.57 327.82
The true width of mineralization is estimated to be 50% to 99% of reported core width, with an
average of 76%. (2) Assumptions used in USD for the copper and gold Metal Equivalent
calculations were metal prices of $4.63/lb Copper, $1937/oz Gold, $25/oz Silver, $1.78/lb Zinc,
and $1.02/lb Pb. Assumed metal recoveries (rec.), based on a preliminary review of historic data
by SRK and ProcessIQ2, were 93% for copper, 92% for zinc, 90% for lead, 72% silver, and 70%
for gold. The following equation was used to calculate copper equivalence: CuEq = Copper (%)
(93% rec.) + (Gold (g/t) x 0.61)(72% rec.) + (Silver (g/t) x 0.0079)(72% rec.) + (Zinc (%) x
0.3844)(93% rec.) +(Lead (%) x 0.2203)(93% rec.). The following equation was used to
calculate gold equivalence: AuEq = Gold (g/t)(72% rec.) + (Copper (%) x 1.638)(93% rec.) +
(Silver (g/t) x 0.01291)(72% rec.) + (Zinc (%) x 0.6299)(93% rec.) +(Lead (%) x 0.3609)(93%
rec.). Analyzed Metal Equivalent calculations are reported for illustrative purposes only. The
metal chosen for reporting on an equivalent basis is the one that contributes the most dollar value
after accounting for assumed recoveries.
Table 3. Results of Phase 1 Drill Program at Kay Mine, Yavapai County, Arizona. The true
width of mineralization is estimated to be 50% to 99% of reported core width, with an average of
80%.
Analyzed Grade Analyzed Metal
Equivalent
Hole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb % Cu eq % Au eq g/t Zn eq%
KM-20-01 275.8 281.5 5.6 0.57 0.48 1.20 11.6 0.18 1.70 1.61 4.51
including 275.8 276.5 0.6 0.50 1.22 5.04 32.0 0.73 4.23 4.01 11.22
including 279.8 281.5 1.6 1.21 0.98 1.49 22.6 0.23 3.10 2.94 8.22
KM-20-02 297.8 300.8 3.0 0.77 0.20 0.04 1.4 0.01 1.01 0.96 2.69
KM-20-03 256.3 259.1 2.7 3.40 1.01 0.65 69.6 0.09 5.41 5.13 14.35
including 256.3 257.3 0.9 7.42 1.79 1.11 56.0 0.17 10.32 9.78 27.37
KM-20-03 292.2 292.6 0.5 2.43 0.19 0.15 2.0 0.04 2.72 2.57 7.20
KM-20-03 295.4 295.8 0.5 1.35 0.80 0.91 6.0 0.06 2.61 2.47 6.92
KM-20-03A 252.4 256.9 4.6 3.70 2.55 0.27 35.6 0.03 6.85 6.49 18.15
including 252.4 253.1 0.8 9.74 6.34 0.40 164.0 0.11 18.19 17.24 48.23
KM-20-05 266.6 269.0 2.4 6.47 1.94 0.57 43.3 0.14 9.19 8.71 24.37
including 266.6 267.8 1.2 10.60 2.21 1.05 50.0 0.26 13.89 13.16 36.83
KM-20-06 267.9 281.5 13.5 1.02 0.85 1.23 45.6 0.30 2.92 2.77 7.75
including 267.9 268.4 0.5 1.54 2.20 6.10 31.0 0.81 6.73 6.38 17.85
including 276.6 281.5 4.9 1.86 0.87 1.96 92.1 0.42 4.54 4.30 12.04
including 280.0 281.0 1.1 3.22 1.03 0.64 340.0 0.04 7.82 7.41 20.74
KM-20-09 588.1 588.4 0.3 0.91 1.74 1.86 15.0 0.40 3.72 3.52 9.86
KM-20-09 613.4 614.1 0.7 0.90 1.81 1.04 10.0 0.08 3.32 3.15 8.81