Arizona Metals Corp. (TSX: AMC; US-OTC: AZMCF) says drill results show the potential to expand the historical Kay mine copper-gold deposit in Arizona, which hasn’t been mined in almost 70 years.
Hole KM-23-103 cut 10.5 metres grading 6.2% copper equivalent (CuEq) composed of 2.4% copper, 3.25 grams gold per tonne, 6.1% zinc and 36.1 grams silver per tonne from a depth of 386.3 metres, Arizona Metals said in a news release on Monday. The intercept included 2.7 metres at 10.5% CuEq and 1.5 meters at 8.9% CuEq.
The hole confirms high-grade copper and gold mineralization found earlier in hole KM-21-19 and suggests a high-grade gold zone in the deposit’s western part, the company said. Kay Mine could be part of a much larger property-wide mineralized system, it said.
“The high-grade copper and gold drill results reported today continue to demonstrate the expansion potential of the Kay Mine deposit,” CEO Marc Pais said in the release. “Surface outcrop sampling at the Western target has returned significant grades of both copper and gold, extending the strike length of mineralization exposed at surface in this area to approximately 800 metres.”
The 5.3-sq.-km project, about 70 km north of Phoenix, lies amid scores of current and past-producing mines in the leading copper-producing state in the United States. Arizona Metals, which in 2018 signed a letter of intention to acquire the site from Silver Spruce Resources (CVE: SSE), touts the location as within a two-hour drive of two smelters.
