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Arizona Metals Corp’s Kay Mine Drilling

25.01.2022  |  Business Wire
Intersects 28.2 m at a grade of 3.8% Cu, 0.5 g/t Au, 0.3% Zn, and 13 g/t Ag (incl. 5.5 m at 14.6% Cu, 0.7 g/t Au, 0.2% Zn, and 38g/t Ag), and Expands Mineralization on Strike, Towards Surface, and at Depth

Arizona Metals Corp. (TSX.V:AMC, OTCQX:AZMCF) (the "Company" or "Arizona Metals") is pleased to announce the results of an additional fourteen drill holes at its Kay Mine project in Yavapai, County Arizona.

Marc Pais, CEO, commented "The fourteen drill holes released today continue to demonstrate the richness and size potential of the Kay Mine system. Virtually all holes drilled to date at Kay have intersected semi-massive to massive sulphide mineralization, with assays pending on 13 more holes, and three holes currently underway.

In Phase 2 drilling, the deposit has been tested to 860 m below surface (in Hole 42C) along a strike length of 300 m and drilling continues to expand Kay mineralization in all directions.

Hole 42C continues to demonstrate exceptional vertical continuity of thickness and grade of the deposit at depth; our deepest hole assayed, it has extended mineralization by 165 m down-plunge of hole 27B, and returned our highest copper grade to date, 18.8%. Hole 46, one of our shallowest holes to date, has also extended the deposit up-plunge by 35 m.

Drilling is currently underway with three drill rigs to test for further extensions of high-grade mineralization, both laterally and targeting depths below 900 m.

Our geological model, especially the modeled orientation of mineralized zones, is evolving rapidly as we drill, and is confirming a deposit considerably larger than reported historically. Our drill program is evolving to reflect these changes, and will soon incorporate results of a recently completed surface structural mapping program, as well as ground-loop EM survey currently underway."

Drilling Highlights

  • Hole KM-21-42C intersected 28 m at a grade of 3.8% Cu, 0.5 g/t Au, 0.3% Zn, and 13 g/t Ag, including a higher-grade interval of 5.5 m grading 14.6% Cu, 0.7 g/t Au, 0.2% Zn, and 38 g/t Ag. This hole extends the high-grade mineralization encountered in Hole 27B approximately by 165 m down-plunge to a depth of 860 m below surface. Hole 42C is the deepest hole assayed so far, and intersected the project's highest copper grade to date: 18.8% (over 1.4 m from 850.7 m downhole).
  • Hole KM-21-42A intersected 5.6 m at a grade of 6.2% Cu, 0.9 g/t Au, 0.2 % Zn, and 40 g/t Ag, including a higher grade interval of 2.0 m grading 10.7% Cu, 0.9 g/t Au, 0.1% Zn, and 62 g/t Ag. At 30 m farther downhole, this hole intersected 36 m at a grade of 0.6% Cu, 0.6 g/t Au, 1.4% Zn, and 11 g/t Ag. This hole extends the high-grade mineralization encountered in Hole 27B by approximately 145 m down-plunge to a depth of 835 m, and together with holes KM-21-42B and KM-21-42C defines a strike length at depth of approximately 75 m.
  • Hole KM-21-46 intersected 12.4 m at a grade of 2.6 g/t Au, 0.7% Cu, 3.7% Zn, and 41 g/t Ag, including a higher grade interval of 2.8 m grading 5.2 g/t Au, 0.8% Cu, 6.8% Zn and 107 g/t Ag. One of the shallowest holes drilled to date, intersecting mineralization at a vertical a depth of 157 m, this hole extends mineralization by approximately 35 m up-plunge from hole 44.
  • Hole KM-21-50 intersected 12.3 m at a grade of 2.3 g/t Au, 1.0% Cu, 6.4% Zn and 112 g/t Ag, including a higher grade interval of 3.4 m grading 3.6 g/t Au, 9.5% Zn, 2.6% Cu, and 208 g/t Ag. Sixteen meters deeper, this hole intersected 53 m grading 0.4% Cu, 0.8 g/t Au, 1.3% Cu, and 36 g/t Ag, including 7.5 meters grading 1.9 g/t Au, 2.6% Zn, 113 g/t Ag, and 0.3% Cu. Hole 50 confirms good continuity of the new mineralized zone approximately 60 m up-plunge of holes 24 and 26.
  • Hole KM21-52A intersected 29.4 m grading 1.1 g/t Au, 1.4%Zn, 52 g/t Ag, and 0.3% Cu, including a higher grade interval of 6 m at a grade of 2.6 g/t Au, 1.6% Zn, 120 g/t Ag, and 0.3% Cu. Forty-four meters deeper, this hole intersected 21.2 m at a grade of 0.9 g/t Au, 0.8% Zn, 0.1% Cu, and 27 g/t Ag, including a higher grade interval of 4.6 m grading 2.2 g/t Au, 1.3% Zn, and 69 g/t Ag. This deeper interval was intersected at a vertical depth of 817 m and confirms good continuity of mineralization below hole 27B and above holes 42 and 42B.

Summary of Pending Holes that Intersected Massive Sulphide Mineralization:

  • KM-21-57A: Located about midway in the 165 m gap between holes 27B (above) and 42C (below) in the deepest parts of the deposit drilled so far. This hole intersected stringer, semi-massive, and massive sulfide mineralization in two sections over downhole lengths of approximately 7 m and 38 m, starting at 728.6 and 762.3 m hole depth, respectively. Some sections of core reach 80% total sulphides.
  • KM-21-57B: Located 25 m downdip and north of 57A. Shows a ~58-m section of sulfide mineralization from 757.6 m downhole, with up to 75% chalcopyrite.
  • KM-21-58A: In the middle of the deposit, midway between holes 28 and 40. Beginning at 597.1 m downhole, intersected approximately 63 m of sulfide mineralization, comprising massive, semi-massive, and stringer sulfide styles with up to 90% total sulfides.
  • KM-21-60: This is one of a series of holes testing continuity and the northern extent of mineralization near the middle of the deposit's vertical extent. This hole intersected numerous sections of massive, semi-massive, and stringer mineralization over a down-hole distance of 84 m. This confirms excellent continuity in the 100-m gap between holes 26 and 40, and along with hole 58B (assays pending) adds 15-20 m of additional thickness of mineralization into the footwall in this area.

Structural Mapping Program

In December 2021, the Company completed a detailed surface structural mapping program performed by associates of technical advisor Dr. Mark Hannington, to update and supplement structural mapping completed in 2019. The results of the mapping program will be combined with core logging data to refine drill targets at pads 4, 5, and 6. These pads will test for extensions of the Kay Mine mineralization approximately 500 m north and 300 m south of the main mineralized body. Mapping will also refine drill targets at the Central and West targets, located approximately 0.5 km and 1.3 km, respectively, west of the Kay deposit.

Ground-loop Geophysical Survey Underway

On January 15th, 2022, the Company initiated a ground loop electromagnetic (EM) survey, in order to refine and test the depth extensions of numerous previously untested exploration targets identified by the 2019 helicopter-borne EM survey. The survey will make a detailed examination of targets to the north and south of the Kay Mine, as well as the Central and Western targets.

Kay Mine Phase 2 Drill Program Progression Update

With the assayed holes released today, the Company has completed a total of 41,600 metres at the Kay Mine since inception of drilling. The Company is well financed and fully-funded to complete the remaining 33,000 metres planned for the Phase 2 program, as well as an additional 76,000 metres planned under the Phase 3 program.

Table 1. Results of Phase 2 Drill Program at Kay Mine, 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 80%.

Analyzed Grade Vertical Depth Below Surface m
Hole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb %
KM-21-42

803.5

810.3

6.9

0.05

1.60

1.58

64.3

0.35

800

KM-21-42

835.5

839.7

4.3

0.63

2.46

2.15

21.7

0.21

816

KM-21-42

853.7

854.7

0.9

0.11

1.63

2.88

28.0

0.40

846

KM-21-42A

786.7

787.6

0.9

0.03

3.61

2.18

17.0

0.70

781

KM-21-42A

805.4

811.1

5.6

6.17

0.92

0.18

39.5

0.01

802

including

807.0

808.9

2.0

10.72

0.87

0.11

61.8

0.00

KM-21-42A

840.9

877.2

36.3

0.55

0.62

1.35

10.7

0.13

848

KM-21-42B

808.0

811.2

3.2

0.29

2.06

5.77

63.0

0.94

790

KM-21-42B

816.9

819.9

3.0

2.31

0.66

1.23

16.0

0.15

810

KM-21-42B

835.5

840.8

5.3

0.02

0.73

2.93

13.5

0.24

828

KM-21-42C

849.2

877.4

28.2

3.81

0.47

0.29

12.5

0.09

850

including

849.2

854.7

5.5

14.57

0.66

0.16

37.5

0.03

including

863.8

869.4

5.6

2.29

1.17

0.59

13.1

0.25

including

874.8

877.4

2.6

2.83

0.26

0.03

7.2

0.01

KM-21-42C

886.1

889.1

3.0

0.87

0.88

0.50

5.2

0.05

855

KM-21-43

583.7

607.1

23.4

0.39

0.25

3.68

3.1

0.02

586

including

598.9

599.8

0.9

0.50

0.18

11.30

3.0

0.03

KM-21-43

616.0

633.1

17.1

1.81

0.17

0.14

8.2

0.03

616

including

631.2

633.1

1.8

6.30

0.61

0.09

25.0

0.01

KM-21-45

459.6

463.0

3.4

0.32

0.62

6.63

82.3

0.87

459

KM-21-46

350.4

362.9

12.4

0.66

2.61

3.69

40.6

0.39

157

including

350.4

353.3

2.8

0.77

5.19

6.83

107.0

0.72

KM-21-47

433.9

435.9

2.0

0.16

1.88

9.28

138.7

2.17

432

KM-21-48

605.2

610.7

5.5

3.54

0.45

0.19

12.7

0.05

606

KM-21-48

630.3

634.6

4.3

1.11

0.34

0.69

12.7

0.11

631

KM-21-48

685.5

696.8

11.3

0.98

0.05

0.06

4.2

0.02

686

KM-21-48

715.1

718.4

3.4

2.08

0.04

0.03

4.3

0.00

716

KM-21-48

723.0

724.5

1.5

1.54

0.07

0.06

4.0

0.02

724

KM-21-48

735.5

743.6

8.1

0.34

0.60

1.52

9.2

0.07

737

KM-21-48A

538.0

539.5

1.5

0.31

1.17

2.79

29.0

0.52

538

KM-21-48A

687.9

696.9

9.0

1.64

0.36

0.79

7.9

0.01

688

including

687.9

688.8

0.9

0.15

1.53

5.35

5.0

0.01

including

694.9

696.0

1.1

8.36

0.80

0.10

40.0

0.03

KM-21-50

489.5

501.9

12.3

0.98

2.30

6.36

111.9

1.24

481

including

489.5

493.0

3.4

2.64

3.59

9.49

207.7

1.65

KM-21-50

509.0

562.1

53.1

0.44

0.84

1.28

35.8

0.27

501

including

538.1

545.6

7.5

0.28

1.94

2.62

112.8

0.82

KM-21-52

751.5

758.2

6.7

1.18

0.66

0.98

18.2

0.14

743

KM-21-52

787.5

789.6

2.1

0.04

1.27

1.68

28.5

0.22

777

KM-21-52A

763.7

793.1

29.4

0.25

1.12

1.36

51.6

0.47

750

including

763.7

764.9

1.2

0.38

3.01

8.69

132.0

1.68

including

771.8

774.5

2.7

1.39

2.46

4.59

116.4

1.82

including

781.5

787.6

6.1

0.31

2.63

1.64

119.5

0.65

KM-21-52A

801.3

802.5

1.2

0.42

0.90

1.29

82.0

0.17

789

KM-21-52A

818.8

820.2

1.4

0.39

1.62

1.29

188.0

0.36

805

KM-21-52A

831.2

852.4

21.2

0.05

0.91

0.80

27.2

0.29

817

including

837.0

841.6

4.6

0.03

2.16

1.34

69.0

0.79

KM-21-55

302.7

308.5

5.8

0.66

0.44

0.53

15.8

0.10

153

Table 2. Full results of Phase 2 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 Vertical Depth Below Surface m
Hole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb %
KM-21-17

429.5

449.9

20.4

1.81

1.10

1.20

21.2

0.17

300

including

429.5

434.0

4.6

4.61

1.73

1.91

29.1

0.24

including

432.7

434.0

1.4

0.52

6.81

8.29

40.0

1.10

KM-21-17

504.4

505.4

0.9

1.19

4.73

0.05

9.0

0.00

356

KM-21-18

404.3

429.8

25.5

0.35

0.86

1.71

15.8

0.23

255

including

408.6

410.6

2.0

0.50

2.22

7.25

64.4

0.82

including

424.9

427.3

2.4

1.60

2.59

3.16

18.0

0.52

KM-21-18A

391.4

423.8

32.5

1.09

0.62

1.25

17.6

0.15

233

including

393.3

395.8

2.4

9.57

2.83

2.72

40.9

0.28

KM-21-19

377.8

378.3

0.5

3.39

5.59

6.83

128.0

0.63

337

KM-21-20

442.7

443.6

0.9

2.56

0.52

3.52

18.5

0.14

362

KM-21-20

456.0

458.1

2.1

1.49

0.35

0.14

6.0

0.04

370

KM-21-21

452.6

495.5

42.8

0.80

0.78

1.52

15.1

0.15

362

including

488.7

493.5

4.8

0.26

2.50

6.13

27.6

0.54

KM-21-21A

422.0

431.4

9.4

1.17

0.57

2.25

8.6

0.36

362

KM-21-21A

439.1

502.1

63.0

0.45

1.28

3.14

58.8

0.77

366

including

465.0

481.9

16.9

0.52

2.45

4.05

80.9

0.99

KM-21-23

394.4

401.4

7.0

0.36

0.93

1.94

13.5

1.17

313

KM-21-23

438.6

459.2

20.6

0.17

1.18

1.93

27.8

0.37

336

KM-21-24

501.2

592.1

90.8

0.45

1.33

3.42

44.3

0.41

470

including

501.2

521.7

20.4

1.34

1.70

6.35

113.1

0.66

including

520.9

521.7

0.8

1.75

16.50

9.55

574.0

1.22

including

575.9

592.1

16.2

0.16

2.50

6.00

44.4

0.79

including

588.7

590.4

1.7

0.47

9.98

23.70

18.2

0.13

KM-21-25

662.6

741.3

78.6

1.41

2.33

2.79

43.4

0.35

638

including

663.2

672.7

9.4

8.06

1.84

1.31

92.3

0.15

including

693.0

703.9

11.0

0.68

6.28

10.40

99.7

1.17

KM-21-25A

654.7

719.9

65.2

1.04

1.94

2.15

18.8

0.18

624

including

655.5

662.8

7.3

3.66

2.09

1.85

30.2

0.21

including

710.8

716.9

6.1

2.72

7.95

3.73

37.4

0.31

KM-21-25B

647.2

648.9

1.7

0.13

0.58

2.41

62.1

0.64

610

KM-21-25B

655.6

659.9

4.3

0.93

0.91

0.91

25.3

0.19

615

KM-21-25B

666.0

667.8

1.8

0.60

0.72

2.98

33.5

0.43

620

KM-21-25B

673.3

674.7

1.4

0.08

2.10

2.39

23.0

0.33

628

KM-21-25B

681.2

682.6

1.4

0.09

1.54

2.98

11.0

0.35

631

KM-21-26

506.7

582.8

76.0

0.79

1.61

4.23

32.6

0.54

480

including

511.1

526.1

14.9

0.73

1.78

9.68

43.3

0.77

including

573.8

582.8

9.0

4.02

6.06

3.32

18.2

0.19

KM-21-27

706.8

738.2

31.4

1.58

0.16

0.69

9.0

0.06

700

KM-21-27

764.4

777.4

13.0

2.85

0.48

0.17

8.4

0.02

775

KM-21-27A

666.3

769.4

103.1

0.79

1.06

1.90

35.8

0.42

678

including

666.3

687.0

20.7

3.21

1.39

1.26

19.4

0.20

including

706.4

724.6

18.3

0.69

2.69

4.70

92.2

1.21

including

752.9

763.8

11.0

0.07

1.07

4.68

95.3

0.98

KM-21-27B

665.8

762.9

97.1

1.31

1.62

3.21

31.7

0.40

660

including

702.0

723.0

21.0

0.87

4.56

9.03

81.5

1.10

including

723.0

738.2

15.2

4.97

0.36

0.42

18.7

0.05

KM-21-28

640.7

694.9

54.3

1.87

2.85

5.03

29.4

0.70

584

including

660.2

671.6

11.4

0.54

4.29

9.30

32.2

1.17

including

681.1

689.0

7.9

4.39

9.47

10.34

93.1

2.41

including

690.4

692.6

2.2

16.06

0.82

0.06

55.8

0.01

KM-21-29

393.0

393.8

0.8

0.43

1.54

4.92

9.0

0.21

235

KM-21-30

264.9

267.9

3.0

1.18

0.02

0.01

1.5

0.00

240

KM-21-32

316.4

320.0

3.7

1.84

1.29

2.47

38.5

0.30

185

KM-21-32

342.9

345.9

3.0

0.67

0.52

2.70

13.0

0.15

190

KM-21-32

358.9

368.4

9.4

0.60

1.47

1.99

45.7

0.35

195

KM-21-33

171.3

172.5

1.2

3.79

0.45

0.21

63.0

0.17

150

KM-21-34

299.3

303.9

4.6

0.29

1.69

0.94

46.3

0.26

205

KM-21-34

309.7

310.9

1.2

2.27

0.56

1.55

19.9

0.08

210

KM-21-35

609.6

615.1

5.5

0.92

1.26

1.71

57.7

0.02

550

including

609.6

613.0

3.4

1.39

1.69

1.98

54.0

0.01

KM-21-38

406.5

407.8

1.4

0.60

1.08

9.41

4.0

0.25

345

KM-21-38

467.4

476.1

8.7

0.09

1.73

3.87

61.1

1.22

370

including

470.0

475.2

5.2

0.12

2.44

5.68

87.5

1.79

KM-21-40

589.8

613.8

24.0

4.98

0.61

0.98

23.4

0.45

550

including

589.8

597.9

8.1

7.63

0.43

0.39

27.1

0.17

KM-21-40

627.9

680.8

52.9

0.47

2.91

3.40

35.7

0.40

590

including

641.1

648.3

7.2

1.15

7.66

8.27

88.5

0.92

including

670.3

674.1

3.8

1.53

10.89

9.47

24.6

0.61

KM-21-41

462.6

559.3

96.7

1.04

1.54

2.66

40.8

0.35

420

including

503.2

514.2

11.0

0.99

5.34

8.17

106.3

1.63

including

546.7

558.1

11.4

5.86

5.83

3.24

185.4

0.04

including

553.1

556.9

3.8

7.11

9.55

5.70

505.8

0.09

KM-21-42

803.5

810.3

6.9

0.05

1.60

1.58

64.3

0.35

800

KM-21-42

835.5

839.7

4.3

0.63

2.46

2.15

21.7

0.21

816

KM-21-42

853.7

854.7

0.9

0.11

1.63

2.88

28.0

0.40

846

KM-21-42A

786.7

787.6

0.9

0.03

3.61

2.18

17.0

0.70

781

KM-21-42A

805.4

811.1

5.6

6.17

0.92

0.18

39.5

0.01

802

including

807.0

808.9

2.0

10.72

0.87

0.11

61.8

0.00

KM-21-42A

840.9

877.2

36.3

0.55

0.62

1.35

10.7

0.13

848

KM-21-42B

808.0

811.2

3.2

0.29

2.06

5.77

63.0

0.94

790

KM-21-42B

816.9

819.9

3.0

2.31

0.66

1.23

16.0

0.15

810

KM-21-42B

835.5

840.8

5.3

0.02

0.73

2.93

13.5

0.24

828

KM-21-42C

849.2

877.4

28.2

3.81

0.47

0.29

12.5

0.09

850

including

849.2

854.7

5.5

14.57

0.66

0.16

37.5

0.03

including

863.8

869.4

5.6

2.29

1.17

0.59

13.1

0.25

including

874.8

877.4

2.6

2.83

0.26

0.03

7.2

0.01

KM-21-42C

886.1

889.1

3.0

0.87

0.88

0.50

5.2

0.05

855

KM-21-43

583.7

607.1

23.4

0.39

0.25

3.68

3.1

0.02

586

including

598.9

599.8

0.9

0.50

0.18

11.30

3.0

0.03

KM-21-43

616.0

633.1

17.1

1.81

0.17

0.14

8.2

0.03

616

including

631.2

633.1

1.8

6.30

0.61

0.09

25.0

0.01

KM-21-44

353.4

377.3

23.9

0.34

0.97

2.52

18.3

0.33

185

including

354.0

356.6

2.6

0.23

2.14

7.97

38.9

0.68

KM-21-45

459.6

463.0

3.4

0.32

0.62

6.63

82.3

0.87

459

KM-21-46

350.4

362.9

12.4

0.66

2.61

3.69

40.6

0.39

157

including

350.4

353.3

2.8

0.77

5.19

6.83

107.0

0.72

KM-21-47

433.9

435.9

2.0

0.16

1.88

9.28

138.7

2.17

432

KM-21-48

605.2

610.7

5.5

3.54

0.45

0.19

12.7

0.05

606

KM-21-48

630.3

634.6

4.3

1.11

0.34

0.69

12.7

0.11

631

KM-21-48

685.5

696.8

11.3

0.98

0.05

0.06

4.2

0.02

686

KM-21-48

715.1

718.4

3.4

2.08

0.04

0.03

4.3

0.00

716

KM-21-48

723.0

724.5

1.5

1.54

0.07

0.06

4.0

0.02

724

KM-21-48

735.5

743.6

8.1

0.34

0.60

1.52

9.2

0.07

737

KM-21-48A

538.0

539.5

1.5

0.31

1.17

2.79

29.0

0.52

538

KM-21-48A

687.9

696.9

9.0

1.64

0.36

0.79

7.9

0.01

688

including

687.9

688.8

0.9

0.15

1.53

5.35

5.0

0.01

including

694.9

696.0

1.1

8.36

0.80

0.10

40.0

0.03

KM-21-50

489.5

501.9

12.3

0.98

2.30

6.36

111.9

1.24

481

including

489.5

493.0

3.4

2.64

3.59

9.49

207.7

1.65

KM-21-50

509.0

562.1

53.1

0.44

0.84

1.28

35.8

0.27

501

including

538.1

545.6

7.5

0.28

1.94

2.62

112.8

0.82

KM-21-52

751.5

758.2

6.7

1.18

0.66

0.98

18.2

0.14

743

KM-21-52

787.5

789.6

2.1

0.04

1.27

1.68

28.5

0.22

777

KM-21-52A

763.7

793.1

29.4

0.25

1.12

1.36

51.6

0.47

750

including

763.7

764.9

1.2

0.38

3.01

8.69

132.0

1.68

including

771.8

774.5

2.7

1.39

2.46

4.59

116.4

1.82

including

781.5

787.6

6.1

0.31

2.63

1.64

119.5

0.65

KM-21-52A

801.3

802.5

1.2

0.42

0.90

1.29

82.0

0.17

789

KM-21-52A

818.8

820.2

1.4

0.39

1.62

1.29

188.0

0.36

805

KM-21-52A

831.2

852.4

21.2

0.05

0.91

0.80

27.2

0.29

817

including

837.0

841.6

4.6

0.03

2.16

1.34

69.0

0.79

KM-21-55

302.7

308.5

5.8

0.66

0.44

0.53

15.8

0.10

153

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%.

Arizona Metals Kay Mine Drill Intercepts Analyzed Grade Vertical Depth Below Surface m
Hole ID From m To m Length m Cu % Au g/t Zn % Ag g/t Pb %
KM-20-01

275.8

281.5

5.6

0.57

0.48

1.20

11.6

0.18

156

including

275.8

276.5

0.6

0.50

1.22

5.04

32.0

0.73

including

279.8

281.5

1.6

1.21

0.98

1.49

22.6

0.23

KM-20-02

297.8

300.8

3.0

0.77

0.20

0.04

1.4

0.01

172

KM-20-03

256.3

259.1

2.7

3.40

1.01

0.65

69.6

0.09

120

including

256.3

257.3

0.9

7.42

1.79

1.11

56.0

0.17

KM-20-03

292.2

292.6

0.5

2.43

0.19

0.15

2.0

0.04

152

KM-20-03

295.4

295.8

0.5

1.35

0.80

0.91

6.0

0.06

154

KM-20-03A

252.4

256.9

4.6

3.70

2.55

0.27

35.6

0.03

122

including

252.4

253.1

0.8

9.74

6.34

0.40

164.0

0.11

KM-20-05

266.6

269.0

2.4

6.47

1.94

0.57

43.3

0.14

150

including

266.6

267.8

1.2

10.60

2.21

1.05

50.0

0.26

KM-20-06

267.9

281.5

13.5

1.02

0.85

1.23

45.6

0.30

158

including

267.9

268.4

0.5

1.54

2.20

6.10

31.0

0.81

including

276.6

281.5

4.9

1.86

0.87

1.96

92.1

0.42

including

280.0

281.0

1.1

3.22

1.03

0.64

340.0

0.04

KM-20-09

588.1

588.4

0.3

0.91

1.74

1.86

15.0

0.40

588

KM-20-09

613.4

614.1

0.7

0.90

1.81

1.04

10.0

0.08

612

KM-20-09

614.6

614.9

0.3

2.64

0.36

0.98

19.0

0.10

613

KM-20-09

632.8

638.9

6.1

0.12

4.18

8.02

41.7

0.82

575

including

633.6

637.9

4.4

0.15

5.46

9.06

33.1

0.50

including

636.9

637.9

1.1

0.17

9.77

14.65

68.0

0.78

KM-20-10

563.6

568.5

4.9

2.39

2.16

3.27

24.9

0.31

490

including

563.6

566.6

3.0

3.66

2.42

3.16

28.2

0.32

including

567.2

568.5

1.2

0.33

2.52

5.10

28.4

0.43

KM-20-10

574.2

574.9

0.6

0.12

4.33

11.30

113.0

0.16

498

KM-20-10

577.7

579.3

1.6

0.03

0.70

4.38

45.9

0.68

500

KM-20-10

582.3

583.1

0.8

0.03

0.42

2.90

51.0

1.07

502

KM-20-10A

521.2

522.5

1.3

2.13

1.27

7.46

51.1

0.91

437

KM-20-10A

527.9

538.6

10.7

1.32

1.66

2.58

27.2

0.30

442

including

527.9

529.4

1.5

6.69

0.92

1.62

30.2

0.07

including

532.2

535.3

3.1

0.72

1.75

2.99

34.3

0.42

including

537.2

538.6

1.4

0.16

7.29

9.06

79.2

0.60

KM-20-10B

503.0

530.7

27.6

0.87

0.97

1.76

21.3

0.32

423

including

503.0

509.6

6.6

1.78

1.55

2.55

29.8

0.37

including

513.9

518.3

4.4

1.08

1.89

4.05

47.4

0.68

including

527.2

530.7

3.5

1.91

2.32

3.93

52.9

0.99

KM-20-10C

523.9

530.7

6.8

0.58

3.32

5.84

102.0

1.15

422

including

523.9

528.2

4.3

0.88

4.89

7.61

125.2

1.45

including

525.6

526.4

0.8

0.52

16.65

21.40

214.0

2.76

KM-20-11

554.1

556.9

2.7

4.14

2.83

3.56

70.0

0.28

490

KM-20-12

371.9

376.7

4.9

3.99

0.37

0.62

12.4

0.07

318

including

371.9

373.7

1.9

8.49

0.67

1.53

28.0

0.16

KM-20-12

379.5

405.4

25.9

0.73

0.08

0.08

2.3

0.01

326

KM-20-13

443.6

486.8

43.1

1.68

1.26

1.67

23.3

0.24

341

including

444.4

459.6

15.2

3.42

1.80

2.36

38.5

0.39

including

444.4

447.1

2.7

1.02

3.74

10.64

55.0

1.88

including

451.4

455.8

4.4

8.41

1.18

0.16

65.3

0.02

KM-20-14

421.7

461.6

39.9

1.47

1.00

1.67

18.4

0.19

314

including

426.3

429.8

3.5

9.56

1.28

0.95

30.0

0.07

including

457.2

460.7

3.5

0.36

2.58

8.33

26.3

0.38

KM-20-14A

404.6

409.0

4.4

1.67

1.48

2.50

79.2

0.41

303

including

404.6

406.4

1.7

4.08

2.46

5.02

173.6

0.53

KM-20-14A

421.0

443.5

22.5

0.86

0.72

1.51

15.9

0.18

312

including

421.0

421.8

0.8

9.81

2.91

1.69

45.0

0.19

including

421.0

425.0

4.1

3.23

1.14

1.30

21.4

0.14

KM-20-15

506.8

510.1

3.3

0.05

0.33

3.73

192.0

1.75

402

KM-20-16

480.4

518.8

38.4

0.85

0.81

2.24

24.3

0.25

385

including

480.4

492.9

12.5

1.63

1.98

4.23

48.5

0.50

including

480.4

483.4

3.0

2.40

4.74

7.49

77.9

0.91

including

489.8

492.9

3.0

3.61

2.59

6.90

100.7

0.92

Table 4. Locations of Phase 1 and 2 Program drill holes completed at Kay Mine, Arizona

Hole ID Phase Drill
Pad
Zone Collar East
WGS84
Collar North
WGS84
Collar Elev
m
Collar
Az
Collar
Dip
Total
Depth
m
Distance
Drilled
Below
Wedge m
KM-20-01

1

Pad 1 North

392684

3769388

643

78

-48

335

335

KM-20-02

1

Pad 1 North

392684

3769388

643

75

-50

304

304

KM-20-03

1

Pad 1 North

392684

3769388

643

72

-43.3

366

366

KM-20-03A

1

Pad 1 North

392684

3769388

643

72

-43.3

321

177

KM-20-04

1

Pad 1 North

392684

3769388

643

65.1

-47.5

354

354

KM-20-05

1

Pad 1 North

392684

3769388

643

73.3

-47.2

349

349

KM-20-06

1

Pad 1 North

392684

3769388

643

81.3

-48.3

317

317

KM-20-07

1

Pad 1 North

392684

3769388

643

85.6

-47.6

308

308

KM-20-08

1

Pad 2 South

392638

3769266

653

91.1

-77.1

36

36

KM-20-09

1

Pad 2 South

392638

3769266

653

92.1

-77

671

671

KM-20-10

1

Pad 2 South

392638

3769266

653

96.3

-72.2

645

645

KM-20-10A

1

Pad 2 South

392638

3769266

653

96.3

-72.2

600

297

KM-20-10B

1

Pad 2 South

392638

3769266

653

96.3

-72.2

555

258

KM-20-10C

1

Pad 2 South

392638

3769266

653

96.3

-72.2

560

277

KM-20-11

1

Pad 3 North

392552

3769328

638

57.3

-67.5

653

653

KM-20-12

1

Pad 1 North

392684

3769388

643

95.7

-70.8

583

583

KM-20-13

1

Pad 1 South

392684

3769388

643

124

-66.5

524

524

KM-20-14

1

Pad 1 South

392684

3769388

643

133.6

-66

550

550

KM-20-14A

1

Pad 1 South

392684

3769388

643

133.6

-66

549

263

KM-20-15

1

Pad 2 South

392638

3769266

653

106.7

-66.8

572

572

KM-20-16

1

Pad 2 South

392638

3769266

653

91.5

-68.9

581

581

KM-21-17

2

Pad 2 South

392638

3769266

653

90.5

-59.5

892

892

KM-21-18

2

Pad 2 South

392638

3769266

653

89.8

-55

518

518

KM-21-18A

2

Pad 2 South

392638

3769266

653

89.8

-55

472

236

KM-21-19

2

Pad 1 North

392684

3769388

643

59.3

-69.5

482

482

KM-21-20

2

Pad 2 North

392638

3769266

653

53.7

-67.3

553

553

KM-21-21

2

Pad 1 South

392684

3769388

643

126

-70

561

561

KM-21-21A

2

Pad 1 South

392684

3769388

643

126

-70

556

315

KM-21-22

2

Pad 3 Grav

392552

3769328

638

33

-63

725

725

KM-21-22A

2

Pad 3 Grav

392552

3769328

638

33

-63

694

419

KM-21-23

2

Pad 1 South

392684

3769388

643

114.2

-66.3

528

528

KM-21-24

2

Pad 1 South

392684

3769388

643

119

-75.1

623

623

KM-21-25

2

Pad 3 South

392552

3769328

638

80

-77.4

775

775

KM-21-25A

2

Pad 3 South

392552

3769328

638

80

-77.4

746

263

KM-21-25B

2

Pad 3 South

392552

3769328

638

80

-77.4

738

404

KM-21-26

2

Pad 1 South

392684

3769388

643

118.2

-79.3

616

616

KM-21-27

2

Pad 1 South

392684

3769388

643

90.4

-86.7

859

859

KM-21-27A

2

Pad 1 South

392684

3769388

643

90.4

-86.7

817

391

KM-21-27B

2

Pad 1 South

392684

3769388

643

90.4

-86.7

823

427

KM-21-28

2

Pad 3 South

392552

3769328

638

86.7

-70.5

774

774

KM-21-29

2

Pad 1 South

392684

3769388

643

108.5

-54

489

489

KM-21-30

2

Pad 4 Far North

392733

3769870

630

71.4

-53

539

539

KM-21-31

2

Pad 2 South

392638

3769266

653

115

-62

618

618

KM-21-32

2

Pad 1 South

392684

3769388

643

115

-45.6

496

496

KM-21-33

2

Pad 4 Far North

392733

3769870

630

106.5

-53

458

458

KM-21-34

2

Pad 1 North

392684

3769388

643

81

-59

430

430

KM-21-35

2

Pad 2 South

392638

3769266

653

102.5

-78.5

716

716

KM-21-36

2

Pad 4 Far North

392733

3769870

630

132

-50

350

350

KM-21-37

2

Pad 4 Far North

392733

3769870

630

20

-75

490

490

KM-21-38

2

Pad 1 N&S

392684

3769388

643

109.2

-71.8

554

554

KM-21-39

2

Pad 4 Far North

392733

3769870

630

355

-71

427

427

KM-21-40

2

Pad 2 South

392638

3769266

653

72.5

-80.4

742

742

KM-21-41

2

Pad 1 N&S

392684

3769388

643

112

-77

610

610

KM-21-42

2

Pad 3 South

392552

3769328

638

72.5

-86

958

958

KM-21-42A

2

Pad 3 South

392552

3769328

638

72.5

-86

929

334

KM-21-42B

2

Pad 3 South

392552

3769328

638

72.5

-86

888

309

KM-21-42C

2

Pad 3 South

392552

3769328

638

72.5

-86

953

389

KM-21-43

2

Pad 1 N&S

392684

3769388

643

103.5

-83.8

686

686

KM-21-44

2

Pad 1 South

392684

3769388

643

124

-42.8

431

431

KM-21-45

2

Pad 2 South

392638

3769266

653

102

-63.4

522

522

KM-21-46

2

Pad 1 South

392684

3769388

643

123.5

-45

412

412

KM-21-47

2

Pad 2 South

392638

3769266

653

97.6

-59.8

511

511

KM-21-48

2

Pad 1 South

392684

3769388

643

99

-86.5

784

784

KM-21-48A

2

Pad 1 South

392684

3769388

643

99

-86.5

740

435

KM-21-49

2

Pad 2 South

392638

3769266

653

73.3

-71

326

326

KM-21-50

2

Pad 2 South

392638

3769266

653

71.3

-74.3

636

636

KM-21-51

2

Pad 3 South

392552

3769328

638

20

-80.5

1017

1017

KM-21-51A

2

Pad 3 South

392552

3769328

638

20

-80.5

1013

611

KM-21-51B

2

Pad 3 South

392552

3769328

638

20

-80.5

986

635

KM-21-52

2

Pad 2 South

392638

3769266

653

65.2

-86.8

849

849

KM-21-52A

2

Pad 2 South

392638

3769266

653

65.2

-86.8

906

602

KM-21-53

2

Pad 1 South

392684

3769388

643

133.4

-45

582

582

KM-21-54

2

Pad 1 South

392684

3769388

643

127.5

-45

523

523

KM-21-55

2

Pad 1 South

392684

3769388

643

113

-45

479

479

KM-21-56

2

Pad 1 South

392684

3769388

643

106.7

-81

685

685

KM-21-57

2

Pad 2 South

392638

3769266

653

28

-85.2

1002

1002

KM-21-57A

2

Pad 2 South

392638

3769266

653

28

-85.2

857

308

KM-22-57B

2

Pad 2 South

392638

3769266

653

28

-85.2

887

354

KM-21-58

2

Pad 1 South

392684

3769388

643

106

-82.8

759

759

KM-21-58A

2

Pad 1 South

392684

3769388

643

106

-82.8

680

315

KM-21-58B

2

Pad 1 South

392684

3769388

643

106

-82.8

708

403

Covid-19 Monitoring and Mitigation Procedures

The Company's drill contractor, Boart Longyear, has instituted Covid-19 monitoring procedures for all drill crew members, including daily temperature and symptom checks. Arizona Metals Corp. will be provided with daily health tracking updates for the drill crews and has also instituted its own social distancing policies and provided a guidance manual for employees at site.

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." (Fellows, M.L., 1982, Kay Mine massive sulfide deposit: Internal report prepared for Exxon Minerals Company, November 1982, 29 p.) 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" (as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects) 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, 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.

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 Anthem 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 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 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 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 drill results and future drilling and assays, 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.

NEITHER THE TSX VENTURE EXCHANGE (NOR ITS REGULATORY SERVICE PROVIDER) 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:
Marc Pais
President and CEO Arizona Metals Corp.
(416) 565-7689
mpais@arizonametalscorp.com
www.arizonametalscorp.com
https://twitter.com/ArizonaCorp


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