Arizona Metals Intercepts Gold -Zinc-Rich Sulphide Mineralization at its Kay Project Western Target
Arizona Metals Intercepts Gold -Zinc-Rich Sulphide Mineralization at its Kay Project
Western Target
Toronto, October 19 , 2023 – Arizona Metals Corp. (TSX:AMC , OTCQ X:AZMCF) (the
“Company” or “Arizona Metals”) is pleased to announce the first drill assay results from the
Western Target at its Kay Mine Project in Arizona.
Drill hole KM -23-113 intersected 3.0 m grading 3.0 g/t Au, 1.3% Zn, and 17 g/t Ag (3.2 g/t
AuEq, after recoveries), including 0.9 m at 9.2 g/t Au, 3.4% Zn, and 45 g/t Ag (9.4 g/t AuEq,
after recoveries). This drill hole represents the northernmost intercept of a consistent mineralized
horizon encountered over a strike length of 735 m on the Western Target (Figure 1). This horizon
was intersected in all eight Western Target drill holes. The mineralized horizon exhibits sulphide
minerals (pyrite, pyrrhotite, sphalerite, and chalcopyrite) and broad zones of highly anomalous
gold, copper, and zinc, accompanied by sodium depletion, a key indicator of hydrothermal activity
in volcanogenic massive sulphide (VMS) systems. The drill intercept in KM-23-113 lies at a depth
of 620 metres below surface outcrop assays showing multiple percent copper, running over 385 m
of strike length along the mineralized horizon (Figure 1, 2) . Mineralization ap pears to be
strengthening to the north, where surface exposures of coherent rhyolite indicate a volcanic center
and possible locations of massive sulphide mineralization.
Marc Pais, CEO, commented , “We are very encouraged by these pr eliminary results on the
Western Target, indicating an extensive mineralized horizon that shows strong improvement to the
north, in agreement with surface assays in this area. An Exploration Plan of Operations is
currently being prepared, which will allow us to build additional drill pads to test northward
extensions of the Western Target mineralized horizon.”
“In only the first eight holes in the Western Target, we have hit wide zones that include stringer
to semi -massive sulphide mineralization, over widths that a re indicative of a system with the
potential to be similar or even larger than what we see at the Kay Mine Deposit. Even more
importantly, we have encountered high -grade, gold-rich sulphide mineralization, very similar to
what we see in some of the best zo nes of the Kay Mine Deposit. The focus of upcoming drilling
will be to vector further north, towards what surface sampling indicates is possibly closer to the
heat source of the system, where we might expect to find greater widths as well as increasing
copper content in mineralization.”
Assays are pending from the eighth hole in the Western Target, KM-23-118. This hole intersected
the Western Target mineralized horizon, which returned highly anomalous values in onsite
portable XRF readings. One additional hole, drilled from pad W1 east toward the Central Target,
encountered no significant assays.
With the completion of recent drill holes, Arizona Metals has drilled a total of 93,000 meters on
the Kay property. The Company is fully funded (with $43 million in cash as of June 30, 2023) to
complete the remaining 66,000 m of th e 76,000-meter Phase 3 drill program (budgeted at
$27.7 million).
Figure 1. Plan map of the West ern Target showing drill intersections and surface assays of the Western Target
mineralized horizon over a strike length of approximately 735 m.
Figure 2. Cross section looking northeast showing mineralization in drill hole KM-23-113.
Table 1. Results of Phase 3 Drill Program at the Kay Mine Project, Yavapai County, Arizona announced in this news
release.
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 histor ic data by SRK and ProcessIQ 1, 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 (%) (9 3% 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.
1 SRK Consulting (Canada) Inc., March 2022, Updated Metallurgical Review, Kay Mine, Arizona. Report
3CA061.004
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-23-104 anomalous Cu, Zn, Au, As, Na
KM-23-104A anomalous Zn, Au, As, Na
KM-23-107 anomalous Zn, Au, As, Na
KM-23-108 anomalous Cu, Zn, Au, As, Na
KM-23-109 anomalous Zn, Au, As, Na
KM-23-110 anomalous Cu, Zn, Au, As, Na
KM-23-112 no significant assays
KM-23-113 885.4 888.5 3.0 0.04 2.98 1.34 17.3 0.49 2.61 4.29 6.80 1.98 3.24 5.14
including 887.6 888.5 0.9 0.08 9.21 3.39 45.0 1.39 7.67 12.57 19.94 5.74 9.41 14.93
Analyzed Grade Analyzed Metal Equivalent Metal Equivalent
Table 2. Full results to date of Phase 2 and 3 Drill Program at the Kay Mine Deposit, Yavapai County, Arizona. See
Table 1 for width and metal equivalency notes.
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-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-21-22 679.4 682.8 3.4 0.79 0.95 0.06 12.0 0.01 1.49 2.44 3.87 1.23 2.01 3.20
KM-21-22A no significant assays
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-21-31 no significant assays
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-21-36 no significant assays
KM-21-37 no significant assays
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-21-39 no significant assays
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-21-49 lost hole
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-21-51 no significant assays
KM-21-51A no significant assays
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-21-53 539.5 542.5 3.0 0.03 1.49 1.34 1.0 0.01 1.46 2.40 3.81 1.14 1.88 2.98
KM-21-54 no significant assays
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
Analyzed Grade Analyzed Metal Equivalent Metal Equivalent
Table 3. Full results to date of Phase 2 and 3 Drill Program at the Kay Mine Deposit, Yavapai County, Arizona. See
Table 1 for width and metal equivalency notes.
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 1.41 0.83 1.27 12.4 0.13 2.53 4.14 6.57 2.21 3.62 5.74
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-22-57C 784.3 885.1 100.9 1.24 1.54 1.56 25.8 0.14 3.02 4.95 7.85 2.54 4.16 6.61
including 829.4 837.9 8.5 1.60 7.71 9.04 100.9 0.35 10.66 17.47 27.72 8.62 14.14 22.43
including 852.2 857.6 5.3 6.81 0.10 0.09 23.3 0.02 7.10 11.63 18.46 6.55 10.73 17.03
KM-21-58 577.0 586.4 9.4 0.43 1.28 2.48 41.3 0.47 2.59 4.25 6.74 2.15 3.52 5.59
KM-21-58 614.2 682.6 68.4 1.30 3.42 3.85 47.2 0.50 5.35 8.78 13.93 4.40 7.22 11.45
including 640.7 648.0 7.3 0.79 4.34 10.20 51.9 0.56 7.90 12.94 20.54 6.60 10.83 17.18
including 668.1 678.6 10.5 5.30 12.19 6.67 194.7 1.88 17.26 28.30 44.90 13.98 22.92 36.37
including 668.1 669.6 1.5 2.55 43.20 7.76 856.0 0.80 38.86 63.69 101.08 28.62 46.90 74.43
KM-21-58A 569.4 641.8 72.5 1.12 1.00 2.84 18.1 0.33 3.03 4.97 7.89 2.64 4.32 6.86
including 584.3 591.9 7.6 0.29 1.19 6.23 4.4 0.40 3.53 5.79 9.19 3.09 5.06 8.02
including 602.3 613.3 11.0 4.02 0.11 1.38 12.6 0.40 4.80 7.88 12.50 4.42 7.25 11.51
including 630.3 630.9 0.7 1.14 6.35 11.20 356.0 0.65 12.28 20.13 31.95 9.89 16.21 25.73
including 633.5 641.8 8.3 1.53 2.33 5.12 26.5 0.36 5.20 8.53 13.53 4.45 7.29 11.56
KM-21-58A 665.5 676.0 10.5 0.12 2.90 3.88 167.5 1.92 5.13 8.41 13.34 4.06 6.65 10.55
including 672.5 676.0 3.5 0.12 6.89 6.40 332.0 3.81 10.26 16.82 26.70 7.98 13.07 20.74
including 673.6 674.5 0.9 0.28 19.65 12.65 844.0 10.20 26.07 42.74 67.82 19.97 32.73 51.94
KM-21-58B 543.2 627.6 84.4 1.05 2.38 3.44 23.8 0.55 4.13 6.77 10.75 3.45 5.66 8.98
including 571.2 582.5 11.3 0.51 5.27 9.96 35.4 1.52 8.18 13.40 21.27 6.76 11.08 17.58
including 605.3 622.7 17.4 3.20 6.19 4.18 40.9 0.22 8.96 14.69 23.31 7.38 12.09 19.19
including 609.6 612.0 2.4 1.45 17.73 7.97 82.5 0.44 16.08 26.35 41.81 12.29 20.15 31.97
KM-21-59 no significant assays
KM-22-59A 903.7 905.9 2.1 0.61 0.10 0.65 10.3 0.10 1.02 1.68 2.66 0.92 1.50 2.38
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
KM-22-61 560.8 580.0 19.2 0.72 0.20 0.69 7.0 0.06 1.18 1.93 3.07 1.05 1.73 2.74
KM-22-62 636.6 682.8 46.2 0.22 1.47 3.22 53.5 0.47 2.89 4.73 7.51 2.37 3.89 6.18
including 644.4 646.2 1.8 0.89 4.36 19.26 133.0 0.77 12.18 19.96 31.68 10.41 17.07 27.09
including 650.7 657.5 6.8 0.34 3.21 9.59 145.2 1.79 7.53 12.34 19.59 6.26 10.26 16.29
including 663.2 665.5 2.3 0.53 8.66 7.82 181.6 1.55 10.60 17.38 27.58 8.30 13.61 21.60
KM-22-62 704.1 706.2 2.1 0.36 2.88 3.33 61.5 0.46 3.99 6.53 10.37 3.18 5.22 8.28
KM-22-62A 582.2 643.6 61.4 0.31 1.27 2.65 40.8 0.58 2.55 4.18 6.64 2.11 3.47 5.50
including 593.1 602.4 9.3 1.15 2.29 4.37 52.4 0.91 4.85 7.94 12.60 4.08 6.68 10.60
including 608.9 617.8 8.8 0.20 1.79 4.26 91.2 1.15 3.90 6.40 10.15 3.20 5.25 8.33
including 627.7 630.9 3.2 0.41 7.10 15.01 180.0 2.77 12.56 20.58 32.66 10.31 16.89 26.81
KM-22-62A 653.8 660.5 6.7 0.26 1.69 2.58 90.4 0.75 3.17 5.19 8.24 2.54 4.17 6.61
KM-22-62B 590.9 599.4 8.5 1.48 0.47 1.04 21.6 0.27 2.39 3.92 6.23 2.12 3.47 5.51
KM-22-62B 606.2 629.0 22.7 0.20 1.05 1.77 21.2 0.23 1.75 2.86 4.54 1.43 2.35 3.73
including 623.8 629.0 5.2 0.21 3.61 6.52 56.6 0.81 5.55 9.09 14.43 4.53 7.42 11.78
KM-22-62C 613.6 630.3 16.8 0.57 0.40 0.48 20.5 0.11 1.18 1.94 3.07 1.01 1.65 2.62
KM-22-62C 638.3 653.8 15.5 0.25 2.34 3.34 34.8 0.34 3.31 5.43 8.62 2.68 4.39 6.97
including 648.5 653.8 5.3 0.32 4.21 6.57 74.7 0.73 6.18 10.12 16.06 5.00 8.19 13.00
KM-22-63 982.2 983.1 0.9 3.41 1.23 2.19 47.0 0.24 5.43 8.90 14.12 4.79 7.85 12.45
KM-22-63A no significant assays
KM-22-63B 890.3 891.8 1.5 0.10 0.47 0.43 15.0 0.08 0.68 1.12 1.77 0.54 0.89 1.41
KM-22-63C no significant assays
KM-22-63D no significant assays
KM-22-64 317.4 325.5 8.1 1.13 0.09 2.30 14.3 0.08 2.20 3.60 5.72 2.00 3.27 5.20
KM-22-65 334.4 337.1 2.7 1.39 0.06 0.34 7.0 0.03 1.62 2.65 4.21 1.48 2.43 3.86
KM-22-66 384.4 414.8 30.5 1.00 0.11 0.09 3.0 0.01 1.13 1.85 2.94 1.03 1.69 2.68
KM-22-67 340.2 345.9 5.8 0.38 0.06 0.55 4.4 0.09 0.69 1.13 1.79 0.62 1.02 1.61
KM-22-68 407.2 408.7 1.5 1.71 0.49 0.08 8.4 0.06 2.11 3.46 5.49 1.88 3.08 4.89
KM-22-68 435.9 446.5 10.7 0.54 0.18 0.29 4.3 0.04 0.80 1.31 2.08 0.71 1.17 1.85
KM-22-69 342.0 343.6 1.6 1.19 0.87 0.96 25.7 0.06 2.30 3.78 5.99 1.97 3.24 5.14
KM-22-70 lost hole
KM-22-71 631.2 648.5 17.3 0.53 0.16 0.21 9.6 0.01 0.78 1.28 2.03 0.69 1.12 1.78
KM-22-71 657.8 668.6 10.8 3.18 0.35 0.16 22.6 0.01 3.64 5.96 9.46 3.29 5.40 8.57
including 657.8 661.4 3.7 6.75 0.28 0.09 30.9 0.02 7.20 11.81 18.74 6.61 10.83 17.19
KM-22-71A 554.3 561.4 7.2 0.39 0.22 0.64 10.3 0.22 0.90 1.47 2.34 0.78 1.29 2.04
KM-22-72 637.6 660.2 22.6 0.34 0.38 1.15 13.0 0.27 1.18 1.93 3.06 1.01 1.66 2.63
KM-22-72 669.3 671.3 2.0 0.17 2.15 4.15 23.1 0.56 3.38 5.55 8.80 2.79 4.57 7.25
KM-22-73 no significant assays
KM-22-74 649.2 688.2 39.0 0.40 1.77 3.39 30.5 0.32 3.09 5.07 8.05 2.56 4.20 6.67
including 652.6 659.8 7.2 0.68 2.57 5.13 18.0 0.11 4.39 7.19 11.42 3.67 6.02 9.55
including 678.5 688.2 9.8 0.15 3.08 5.67 32.0 0.51 4.57 7.50 11.90 3.74 6.13 9.73
KM-22-74 716.3 719.6 3.4 0.03 0.84 2.65 37.5 0.57 1.99 3.26 5.17 1.65 2.71 4.30
KM-22-75 690.7 692.8 2.1 0.23 0.25 0.84 9.3 0.22 0.83 1.36 2.15 0.71 1.17 1.86
KM-22-75 705.0 716.9 11.9 0.67 0.17 0.30 8.0 0.05 0.97 1.58 2.51 0.86 1.41 2.24
KM-22-75 723.1 731.7 8.5 0.31 0.50 1.27 11.6 0.09 1.21 1.99 3.16 1.03 1.69 2.69
KM-22-75 753.5 754.5 1.1 0.23 1.22 1.85 12.0 0.04 1.78 2.92 4.64 1.46 2.39 3.80
KM-22-76 no significant assays
KM-22-77 no significant assays
KM-22-78 no significant assays
KM-22-79 667.8 673.8 5.9 0.11 0.52 1.03 6.9 0.23 0.93 1.52 2.42 0.77 1.27 2.02
KM-22-79 681.8 689.8 7.9 2.12 1.38 3.14 47.2 0.27 4.61 7.55 11.98 4.00 6.55 10.40
KM-22-80 672.8 678.5 5.6 0.35 0.59 0.68 4.9 0.02 1.02 1.67 2.65 0.85 1.40 2.22
KM-22-80 702.9 705.9 3.0 0.13 0.04 0.99 1.0 0.01 0.54 0.89 1.41 0.49 0.81 1.28
KM-22-81 813.8 822.4 8.5 0.10 0.22 0.69 15.5 0.11 0.65 1.07 1.69 0.54 0.89 1.42
KM-22-81A 847.7 852.8 5.2 0.03 0.19 2.04 46.2 0.48 1.40 2.29 3.64 1.19 1.94 3.09
KM-22-81B 801.8 805.6 3.8 9.60 1.81 1.83 44.6 0.23 11.81 19.36 30.72 10.65 17.45 27.70
including 802.7 804.2 1.5 14.80 2.75 2.06 53.0 0.28 17.75 29.10 46.18 16.03 26.27 41.69
KM-22-81B 815.0 816.0 0.9 0.93 0.56 0.49 28.0 0.21 1.72 2.82 4.48 1.47 2.41 3.83
KM-22-81B 821.6 823.0 1.4 0.02 0.03 1.92 28.0 0.40 1.09 1.78 2.83 0.95 1.56 2.47
KM-22-81B 836.5 837.3 0.8 0.05 0.74 0.69 15.0 0.46 0.99 1.62 2.57 0.79 1.29 2.04
KM-22-81C 751.5 754.7 3.2 1.14 0.43 0.56 19.6 0.07 1.79 2.94 4.66 1.57 2.57 4.08
KM-22-81C 775.9 784.0 8.1 0.21 0.13 1.01 18.8 0.22 0.88 1.44 2.29 0.76 1.25 1.99
KM-22-81C 787.0 788.5 1.5 0.03 2.02 1.80 30.0 0.39 2.27 3.73 5.92 1.77 2.91 4.61
KM-22-82 226.5 228.0 1.5 0.14 0.07 1.58 5.4 0.53 0.95 1.55 2.46 0.85 1.40 2.22
KM-22-82 301.8 304.2 2.4 1.18 0.37 0.13 2.6 0.02 1.48 2.42 3.84 1.32 2.16 3.42
KM-22-83 no significant assays
KM-22-84 no significant assays
KM-22-85 no significant assays
KM-22-86 lost hole
KM-22-86A 545.9 546.6 0.7 0.14 0.51 0.14 16.0 0.26 0.69 1.14 1.80 0.54 0.89 1.41
KM-22-86A 563.7 564.8 1.1 0.04 1.11 0.05 13.0 0.11 0.86 1.42 2.25 0.63 1.03 1.63
KM-22-86A 565.6 566.7 1.1 0.05 0.15 0.92 25.9 0.43 0.80 1.30 2.07 0.67 1.10 1.74
KM-22-87 339.9 348.1 8.2 0.29 0.31 0.23 2.0 0.01 0.59 0.96 1.53 0.50 0.82 1.30
including 339.9 340.5 0.6 1.89 0.09 0.04 4.0 0.02 1.99 3.26 5.17 1.83 3.00 4.76
KM-22-88 344.7 345.6 0.9 2.84 0.07 0.06 2.0 0.02 2.93 4.80 7.61 2.71 4.44 7.04
KM-22-89 447.1 448.5 1.4 1.09 0.29 0.06 5.8 0.11 1.36 2.23 3.53 1.21 1.99 3.15
KM-22-90 no significant assays
KM-22-91 399.3 401.1 1.8 0.72 0.66 0.20 3.5 0.02 1.23 2.02 3.21 1.05 1.72 2.73
KM-22-92 no significant assays
KM-22-93 478.7 483.3 4.5 1.85 0.03 0.02 4.6 0.00 1.91 3.13 4.97 1.77 2.90 4.60
KM-22-93 506.6 508.6 2.0 1.63 0.01 0.01 2.2 0.00 1.66 2.72 4.32 1.54 2.52 4.01
KM-22-93 522.4 527.0 4.6 0.85 0.05 0.02 2.6 0.00 0.90 1.48 2.35 0.83 1.36 2.16
KM-22-93 615.1 616.3 1.2 2.85 0.04 0.06 5.0 0.00 2.94 4.81 7.64 2.72 4.45 7.07
KM-22-94 797.4 815.0 17.7 0.73 0.04 0.06 3.1 0.01 0.81 1.33 2.11 0.74 1.22 1.93
including 797.4 798.7 1.4 1.43 0.03 0.02 3.7 0.02 1.49 2.44 3.87 1.37 2.25 3.58
KM-22-94 829.4 832.6 3.2 0.54 0.75 0.48 6.9 0.06 1.25 2.05 3.26 1.05 1.71 2.72
KM-22-94 854.5 855.8 1.3 0.76 0.09 0.02 2.0 0.00 0.84 1.37 2.18 0.76 1.25 1.99
KM-22-94A 829.1 832.4 3.4 2.18 0.03 0.07 5.2 0.05 2.27 3.73 5.91 2.10 3.44 5.47
including 829.1 829.7 0.6 9.43 0.10 0.27 22.0 0.23 9.82 16.09 25.54 9.08 14.88 23.61
KM-22-94A 850.1 853.4 3.4 0.63 0.11 0.02 2.4 0.02 0.73 1.20 1.90 0.66 1.08 1.71
KM-22-94A 858.9 864.9 5.9 0.62 0.02 0.02 2.3 0.01 0.67 1.09 1.74 0.61 1.01 1.60
KM-22-94A 871.9 882.2 10.4 1.21 0.09 0.05 3.6 0.01 1.31 2.15 3.42 1.20 1.97 3.13
KM-22-95 432.8 435.6 2.7 0.22 0.12 0.61 4.1 0.02 0.57 0.94 1.48 0.50 0.83 1.31
KM-22-96 no significant assays
KM-23-97 512.2 521.0 8.8 2.87 2.24 2.65 27.7 0.31 5.54 9.08 14.41 4.78 7.83 12.43
including 516.1 517.7 1.6 8.12 3.67 2.33 61.2 0.14 11.76 19.28 30.60 10.31 16.91 26.83
including 516.8 517.2 0.4 17.10 4.59 0.40 59.0 0.08 20.54 33.67 53.43 18.36 30.09 47.75
KM-23-97 595.3 596.8 1.5 0.95 0.80 0.03 9.0 0.01 1.52 2.50 3.97 1.29 2.11 3.36
KM-23-98 255.7 258.8 3.0 0.53 0.13 0.11 3.5 0.01 0.69 1.12 1.78 0.61 1.00 1.59
KM-23-98 312.4 317.0 4.6 0.70 0.06 0.13 4.1 0.02 0.82 1.35 2.14 0.75 1.23 1.95
KM-23-98 342.9 347.2 4.3 0.75 0.33 0.06 3.3 0.00 1.00 1.64 2.60 0.88 1.44 2.28
KM-23-99 459.8 462.8 3.0 0.61 0.28 0.44 7.0 0.09 1.02 1.67 2.65 0.90 1.47 2.33
KM-23-99 508.3 517.9 9.6 0.04 0.59 0.74 2.0 0.03 0.70 1.15 1.82 0.56 0.92 1.47
KM-23-100 305.5 310.0 4.5 1.33 0.29 0.40 16.9 0.05 1.81 2.96 4.70 1.61 2.64 4.19
KM-23-100 366.1 367.9 1.8 0.39 0.06 0.29 3.8 0.06 0.58 0.95 1.51 0.52 0.86 1.36
KM-23-100 387.4 388.7 1.3 0.65 0.11 0.03 1.3 0.00 0.74 1.21 1.92 0.67 1.10 1.74
KM-23-101 670.1 672.4 2.3 0.79 0.83 0.01 2.9 0.00 1.33 2.17 3.45 1.11 1.82 2.89
KM-23-102 345.6 350.1 4.4 0.52 0.14 0.18 2.7 0.05 0.71 1.16 1.85 0.64 1.04 1.65
KM-23-103 386.3 396.9 10.5 2.40 3.25 6.09 36.1 0.85 7.20 11.80 18.72 6.15 10.08 16.00
including 387.9 390.6 2.7 0.86 8.21 16.08 42.5 1.39 12.69 20.80 33.01 10.51 17.22 27.33
including 392.9 394.4 1.5 7.55 1.82 2.62 26.0 0.14 9.90 16.23 25.76 8.90 14.59 23.15
KM-23-103 500.8 504.3 3.5 0.55 0.23 0.03 1.7 0.00 0.72 1.17 1.86 0.63 1.03 1.64
KM-23-104 anomalous Cu, Zn, Au, As, Na
KM-23-104A anomalous Zn, Au, As, Na
KM-23-105 553.2 560.5 7.3 0.22 2.87 4.90 202.8 1.46 5.79 9.49 15.06 4.61 7.56 12.00
including 557.5 559.5 2.0 0.57 6.05 8.26 418.8 1.58 11.11 18.20 28.89 8.74 14.32 22.73
KM-23-105 572.9 601.7 28.8 0.22 0.70 1.09 39.1 0.26 1.43 2.35 3.73 1.17 1.91 3.03
including 573.5 575.8 2.3 1.07 1.34 7.28 246.3 1.57 6.99 11.46 18.18 5.86 9.61 15.25
KM-23-106 476.3 501.2 25.0 0.37 1.61 3.68 33.4 0.90 3.23 5.30 8.41 2.71 4.44 7.04
including 491.0 494.2 3.2 1.13 3.86 8.53 63.5 1.03 7.50 12.29 19.51 6.29 10.30 16.35
including 500.3 501.2 0.9 0.43 15.15 2.70 272.0 3.62 13.67 22.40 35.55 10.10 16.55 26.26
KM-23-106 517.4 566.6 49.2 1.15 1.19 1.71 14.4 0.44 2.75 4.50 7.15 2.35 3.86 6.13
including 556.3 566.6 10.4 5.10 3.05 0.47 22.6 0.01 7.33 12.01 19.06 6.35 10.40 16.51
KM-23-106 576.1 581.3 5.2 0.02 1.37 0.61 20.5 0.24 1.31 2.14 3.40 0.99 1.62 2.57
KM-23-107 anomalous Zn, Au, As, Na
KM-23-108 anomalous Cu, Zn, Au, As, Na
KM-23-109 anomalous Zn, Au, As, Na
KM-23-110 anomalous Cu, Zn, Au, As, Na
KM-23-112 no significant assays
KM-23-113 885.4 888.5 3.0 0.04 2.98 1.34 17.3 0.49 2.61 4.29 6.80 1.98 3.24 5.14
including 887.6 888.5 0.9 0.08 9.21 3.39 45.0 1.39 7.67 12.57 19.94 5.74 9.41 14.93
Analyzed Grade Analyzed Metal Equivalent Metal Equivalent
Table 4. Results of Phase 1 Drill Program at the Kay Mine Deposit, Yavapai County, Arizona. See Table 1 for width
and metal equivalency notes.
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
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-20-01 275.8 281.5 5.6 0.57 0.48 1.20 11.6 0.18 1.70 1.61 4.51 1.26 2.06 3.28
including 275.8 276.5 0.6 0.50 1.22 5.04 32.0 0.73 4.23 4.01 11.22 3.09 5.07 8.04
including 279.8 281.5 1.6 1.21 0.98 1.49 22.6 0.23 3.10 2.94 8.22 2.24 3.68 5.84
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 0.83 1.35 2.15
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 4.24 6.95 11.03
including 256.3 257.3 0.9 7.42 1.79 1.11 56.0 0.17 10.32 9.78 27.37 8.41 13.79 21.88
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 2.41 3.95 6.27
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 1.96 3.22 5.11
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 4.84 7.93 12.58
including 252.4 253.1 0.8 9.74 6.34 0.40 164.0 0.11 18.19 17.24 48.23 12.87 21.09 33.47
KM-20-04 no significant assays
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 7.32 12.00 19.05
including 266.6 267.8 1.2 10.60 2.21 1.05 50.0 0.26 13.89 13.16 36.83 11.51 18.86 29.93
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 1.99 3.27 5.19
including 267.9 268.4 0.5 1.54 2.20 6.10 31.0 0.81 6.73 6.38 17.85 4.87 7.98 12.66
including 276.6 281.5 4.9 1.86 0.87 1.96 92.1 0.42 4.54 4.30 12.04 3.40 5.58 8.85
including 280.0 281.0 1.1 3.22 1.03 0.64 340.0 0.04 7.82 7.41 20.74 5.61 9.20 14.60
KM-20-07 no significant assays
KM-20-08 abandoned, off target
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 2.41 3.95 6.26
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 2.05 3.36 5.33
KM-20-09 614.6 614.9 0.3 2.64 0.36 0.98 19.0 0.10 3.60 3.41 9.54 3.08 5.05 8.01
KM-20-09 632.8 638.9 6.1 0.12 4.18 8.02 41.7 0.82 8.23 7.80 21.83 5.13 8.42 13.35
including 633.6 637.9 4.4 0.15 5.46 9.06 33.1 0.50 9.81 9.29 26.00 5.96 9.77 15.50
including 636.9 637.9 1.1 0.17 9.77 14.65 68.0 0.78 16.92 16.03 44.86 10.06 16.48 26.15
KM-20-10 563.6 568.5 4.9 2.39 2.16 3.27 24.9 0.31 6.24 5.92 16.55 4.50 7.38 11.71
including 563.6 566.6 3.0 3.66 2.42 3.16 28.2 0.32 7.78 7.38 20.64 5.78 9.47 15.03
including 567.2 568.5 1.2 0.33 2.52 5.10 28.4 0.43 5.33 5.05 14.12 3.43 5.63 8.93
KM-20-10 574.2 574.9 0.6 0.12 4.33 11.30 113.0 0.16 10.09 9.56 26.75 6.63 10.87 17.26
KM-20-10 577.7 579.3 1.6 0.03 0.70 4.38 45.9 0.68 3.09 2.93 8.20 2.27 3.72 5.91
KM-20-10 582.3 583.1 0.8 0.03 0.42 2.90 51.0 1.07 2.42 2.29 6.40 1.73 2.84 4.51
KM-20-10A 521.2 522.5 1.3 2.13 1.27 7.46 51.1 0.91 7.07 6.70 18.75 5.63 9.23 14.64
KM-20-10A 527.9 538.6 10.7 1.32 1.66 2.58 27.2 0.30 4.40 4.17 11.66 3.06 5.01 7.96
including 527.9 529.4 1.5 6.69 0.92 1.62 30.2 0.07 8.59 8.14 22.77 7.38 12.09 19.19
including 532.2 535.3 3.1 0.72 1.75 2.99 34.3 0.42 4.17 3.95 11.07 2.76 4.52 7.18
including 537.2 538.6 1.4 0.16 7.29 9.06 79.2 0.60 12.24 11.60 32.44 7.04 11.54 18.31
KM-20-10B 503.0 530.7 27.6 0.87 0.97 1.76 21.3 0.32 2.87 2.72 7.61 2.03 3.33 5.29
including 503.0 509.6 6.6 1.78 1.55 2.55 29.8 0.37 4.79 4.54 12.70 3.46 5.68 9.01
including 513.9 518.3 4.4 1.08 1.89 4.05 47.4 0.68 5.29 5.01 14.02 3.65 5.99 9.50
including 527.2 530.7 3.5 1.91 2.32 3.93 52.9 0.99 6.68 6.33 17.72 4.66 7.63 12.11
KM-20-10C 523.9 530.7 6.8 0.58 3.32 5.84 102.0 1.15 7.65 7.25 20.28 4.83 7.92 12.57
including 523.9 528.2 4.3 0.88 4.89 7.61 125.2 1.45 10.60 10.05 28.11 6.60 10.82 17.17
including 525.6 526.4 0.8 0.52 16.65 21.40 214.0 2.76 29.15 27.62 77.29 16.94 27.76 44.05
KM-20-11 554.1 556.9 2.7 4.14 2.83 3.56 70.0 0.28 9.23 8.75 24.48 6.77 11.10 17.61
KM-20-12 371.9 376.7 4.9 3.99 0.37 0.62 12.4 0.07 4.76 4.51 12.61 4.18 6.84 10.86
including 371.9 373.7 1.9 8.49 0.67 1.53 28.0 0.16 10.10 9.57 26.77 8.91 14.61 23.19
KM-20-12 379.5 404.2 24.7 0.73 0.08 0.08 2.3 0.01 0.87 0.82 2.30 0.77 1.27 2.01
KM-20-12 371.9 404.2 32.3 1.19 0.12 0.14 3.8 0.01 1.35 2.20 3.50 1.23 2.01 3.19
including 372.7 376.7 4.1 4.80 0.44 0.75 14.9 0.08 5.50 9.01 14.30 5.02 8.23 13.06
KM-20-13 443.6 486.8 43.1 1.68 1.26 1.67 23.3 0.24 3.94 3.73 10.45 2.87 4.71 7.47
including 444.4 459.6 15.2 3.42 1.80 2.36 38.5 0.39 6.71 6.36 17.80 5.09 8.33 13.23
including 444.4 447.1 2.7 1.02 3.74 10.64 55.0 1.88 10.14 9.61 26.89 7.00 11.47 18.20
including 451.4 455.8 4.4 8.41 1.18 0.16 65.3 0.02 10.34 9.80 27.42 8.75 14.35 22.77
KM-20-14 421.7 461.6 39.9 1.47 1.00 1.67 18.4 0.19 3.40 3.22 9.00 2.53 4.15 6.58
including 426.3 429.8 3.5 9.56 1.28 0.95 30.0 0.07 11.58 10.98 30.71 9.96 16.32 25.91
including 457.2 460.7 3.5 0.36 2.58 8.33 26.3 0.38 6.61 6.26 17.52 4.61 7.55 11.99
KM-20-14A 404.6 409.0 4.4 1.67 1.48 2.50 79.2 0.41 5.07 4.80 13.44 3.60 5.90 9.37
including 404.6 406.4 1.7 4.08 2.46 5.02 173.6 0.53 10.41 9.87 27.61 7.72 12.65 20.07
KM-20-14A 421.0 443.5 22.5 0.86 0.72 1.51 15.9 0.18 2.41 2.28 6.38 1.77 2.90 4.60
including 421.0 421.8 0.8 9.81 2.91 1.69 45.0 0.19 14.01 13.28 37.15 11.26 18.45 29.28
including 421.0 425.0 4.1 3.23 1.14 1.30 21.4 0.14 5.17 4.90 13.71 4.10 6.72 10.66
KM-20-15 506.8 510.1 3.3 0.05 0.33 3.73 192.0 1.75 4.24 4.02 11.25 2.95 4.84 7.68
KM-20-16 480.4 518.8 38.4 0.85 0.81 2.24 24.3 0.25 2.87 2.72 7.61 2.12 3.47 5.51
including 480.4 492.9 12.5 1.63 1.98 4.23 48.5 0.50 5.95 5.64 15.78 4.23 6.94 11.02
including 480.4 483.4 3.0 2.40 4.74 7.49 77.9 0.91 11.29 10.70 29.93 7.53 12.35 19.60
including 489.8 492.9 3.0 3.61 2.59 6.90 100.7 0.92 10.22 9.68 27.10 7.66 12.55 19.92
Analyzed Grade Analyzed Metal Equivalent Metal Equivalent
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 Poten tial, 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, 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 fo r 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 the 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 data 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 s tatements”) 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 drill results and future drilling and assays, plans and anticipated
costs with respect to the Phase 3 drill program, and the potential existence and size of VMS
deposits at the Kay Mine Project. In making the forward - looking statements contained in this
press release, the Company has made certain assum ptions. 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, uncertai nties, 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 a ssumptions, changes in factors affecting such forward - looking statements or
otherwise.
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ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
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