Arizona Metals Extends Kay2 Zone 450 m Below Discovery Hole at Kay Deposit
Arizona Metals Extends Kay2 Zone 450 m Below Discovery Hole at Kay Deposit
Toronto, February 5, 2025 – Arizona Metals Corp. (TSX:AMC , OTCQ X:AZMCF) (the
“Company” or “Arizona Metals”) is pleased to announce two new drill results from the Kay2 Zone
and two holes from the West target at the Kay deposit in Arizona. In the Kay2 Zone, d rill hole
KM-24-173 intersected mineralization 450 m down-dip from hole KM-24-166, the first hole in the
Kay2 Zone (Figure 1). Results for KM-24-173 were 2.4 m @ 2.7% CuEq (Table1). The new zone
of mineralization, the K ay2 Zone, is located approximately 100 m north of previously drilled
mineralization in the Kay deposit.
Duncan Middlemiss, President and CEO of Arizona Metals , comments: “This large down-dip
stepout in the Kay2 Zone is very encouraging, as it confirms mineralization almost half a kilometer
below the outstanding intercept in drill hole 166. We currently have two drill rigs aimed even
deeper, probing the vertical extents of both the Kay2 Zone and the main Kay deposit. We have
drilled a total of 6,300 m in the Kay2 Zone, with 4,400 additional meters planned fo r Kay2 and
Kay during Q1 of 2025. We expect Kay2 Zone mineralization to contribute to the upcoming
mineral resource estimate for the Kay deposit, which is on track for H1 2025.”
The deep drill holes currently underway are intended to serve as trunk holes to allow multiple
branch holes to further test the size of the Kay2 Zone and deeper Kay deposit mineralization. One
drill hole in the Kay2 Zone located 160 m downdip of hole 166 , KM-24-170A, encountered no
significant assays; this is not uncommon in deformed volcanogenic massive sulfide deposits where
mineralization tends to pinch and swell . Two additional holes in the West target intersected the
West target horizon: holes KM-24-172 and 174 intersected anomalous Cu, Au, and Zn or sulfide
minerals where expected within the mineralized horizon. With the completion of recent drill holes,
Arizona Metals has drilled a total of 127,000 meters on the property.
Table 1. Results of Phase 3 Drill Program at the Kay Project, Yavapai County, Arizona announced in this news release.
Analyzed Grade Analyzed Metal
Equivalent
Metal Equivalent
Hole ID
From
m To m
Length
m
Cu
%
Au
g/t
Zn
%
Ag
g/t
Pb
%
CuEq
%
AuEq
g/t
ZnEq
%
CuEq
%
AuEq
g/t
ZnEq
%
KM-24-170A no significant assays
KM-24-172 no significant assays
KM-24-173 1142.5 1145.0 2.4 2.83 0.01 0.03 3.5 0.01 2.88 4.73 7.50 2.67 4.38 6.95
KM-24-174 no significant assays
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 .20/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 ProcessIQ, were 9 3% 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)(70% rec.) + (Silver (g/t) x 0.0079)(72% rec.) + (Zinc (%) x 0.3844)( 92% rec.) + (Lead (%) x 0.2203)(90% rec.). The
following equation was used to calculate gold equivalence: AuEq = Gold (g/t)( 70% rec.) + (Copper (%) x 1.638)(93% rec.) + (Silver (g/t) x
0.01291)(72% rec.) + (Zinc (%) x 0.6299)( 92% rec.) +(Lead (%) x 0.3609)( 90% 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.
Figure 1. Oblique section looking northeast, displaying new drill holes reported in this release. See Table 1 for
additional details. The true width of mineralization in this area is yet to be determined. See Table 1 for constituent
elements, grades, metals prices and recovery assumptions used for Au Eq g/t and CuEq % calculations. Analyzed
Metal Equivalent calculations are reported for illustrative purposes only.
About Arizona Metals Corp
Arizona Metals Corp owns 100% of the Kay Project in Yavapai County, which is located on 1669
acres of patented and BLM mining claims and 193 acres of private land 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 Deposit 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 Ari zona 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.
Qualified Person and 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 Phoenix 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, and Reno, Nevada, 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 d etermined 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 and Reno facilities
are 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.
The qualified person who reviewed and approved the technical disclosure in this release is David
Smith, CPG, a qualified person as defined in National Instrument43-101–Standards of Disclosure
for Mineral Projects. Mr. Smith supervised the preparation of th e scientific and technical
information that forms the basis for this news release and has reviewed and approved the disclosure
herein. Mr. Smith is the Vice -President, Exploration of the Company. Mr. Smith supervised the
drill program and verified the dat a disclosed, including sampling, analytical and QA/QC data,
underlying the technical information in this news release, including reviewing the reports of ALS,
methodologies, results, and all procedures undertaken for quality assurance and quality control in
a manner consistent with industry practice, and all matters were consistent and accurate according
to his professional judgement. There were no limitations on the verification process.
Disclaimer
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 expected”, “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 expansion potential of the Kay Project, statements regarding
drill results and future drilling of the Kay2 and Kay during Q1 of 2025, , the contribution of the
Kay2 Zone mineralization to the mineral resource estimate for the Kay deposit, and the mineral
resource estimate being completed in H1 2025 .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 the Company to stay
well funded; 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.
THE TORONTO STOCK EXCHANGE HAS NEITHER REVIEWED NOR 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
For further information, please contact:
Morgan Knowles
Vice President of Investor Relations
(647) 202-3904
or
Duncan Middlemiss
President and CEO
www.arizonametalscorp.com
https://x.com/ArizonaCorp