TORONTO, April 14, 2020 – Arizona Metals Corp. (TSX.V:AMC) (the “Company” or “Arizona Metals”) is pleased to announce that during February, 2020, the Company completed site visits that included Karen Fann (President of the Arizona State Senate), Noel Campbell (State Congressional Representative), Bob Thorpe (State Congressional Representative), Tom Thurman (Yavapai County Supervisor), representatives of the town of Black Canyon City, and members of the Daisy Mountain Fire Department and Yavapai County Sheriff’s office. The purpose of the visits was to familiarize attendees with the Company’s drill operations, as well as measures undertaken to ensure protection of the local environment and community.
Figure 1.Neighbouring landowner, Marc Pais (CEO), Senator Karen Fann, Paul Reid (Chairman), David Smith (VP Exploration)
Following the tour, Senator Fann commented, “Arizona Metals Corp. is the kind of company and operation we want to see in rural Arizona. When you combine this thoughtful approach to doing things the right way with the potential this project has to ultimately create hundreds of jobs and dynamic economic activity, as the State Senator for this area, I am very excited to have this company and project in my district.”
State Representative Noel Campbell also expressed his support, “As a state representative of the legislative district in which you are operating, I care very much about the potential for job creation and economic activity that your project represents. But I also care about the quality of life of the citizens that I represent, so I appreciate all you are doing to work with the people that live in the area.”
Arizona House Representative, Bob Thorpe, stated, “As the co-chair of the Arizona Legislature’s Mining Caucus, as well as a state representative of a northern Arizona rural district just up the road from your project, I am delighted to see your project come to our state and thrilled at what might develop in the Black Canyon City area and beyond… I wholly appreciate and endorse your efforts and will do whatever I can to support the ultimate success of the operation and all the benefits it will bring to rural Arizona. I also appreciate the ethical and community sensitive approach your company brings to the project. And I have appreciated the way you have brought me and other public officials into the loop.”
Figure 2. Marc Pais (CEO), Representative Bob Thorpe (Co-Chair of Arizona Mining Caucus, Representative Noel Campbell, Paul Reid (Chairman)
On March 19th 2020, the Company announced the temporary suspension of the drill program in order to protect the safety of employees, contractors and the local community in response to the COVID-19 pandemic. No cases of infection have been reported in any of the Company’s employees or contractors. Arizona Metals’ employees and contractors will be ready to resume operations as soon as local conditions are deemed safe.
The Company has a strong cash position of approximately $3M, and will now focus efforts on modelling drill data received to date in order to refine planned targets for the resumption of drilling.
Nine holes of the sixteen hole Phase 1 drill program at the Kay Mine have been completed, and assay results are pending.
Copies of the letters of support can be found here:
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, 2.8g/t gold, 3.03% zinc, and 55g/t silver”. The historic estimate at the Kay Mine was reported by Exxon Minerals in 1982. 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 Kay Mine is a steeply dipping VMS deposit that has been defined from a depth of 150m to at least 900m. 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 0.5g/t (Dausinger, 1983, Westworld Resources).
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.
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 resumption of drilling and the effects of the COVID-19 pandemic on the business and operations of the Company. 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.
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For further information, please contact:
President and CEO Arizona Metals Corp.