Arizona Metals (TSX: AMC) (OTCQX: AZMCF), a Toronto, Canada-based mineral exploration company, owns 100% of the Kay Mine Property in Yavapai County and 100% of the Sugarloaf Peak Property in La Paz County. Both projects have excellent infrastructure, including roads, water access and power. “For more than 200 years, mineral-rich Arizona has been a driving force for settlement and economic expansion… Arizona hosts 992 valid mineral species, with more discoveries expected in the future. Notable historical mines in the state include the Christmas Mine, with over 80 minerals, the copper-producing Bagdad Mine and the Iron Cap Mine, which produced silver, lead and zinc until 1949,” a recent article explains. “Arizona Metals aims to tap into the state’s rich mining history with its Kay Mine and Sugarloaf Peak projects. The company’s Kay Mine property totals 1,330 acres that are not subject to any royalties. According to a historic estimate by Exxon Minerals in 1982, the project has a ‘proven and probable reserve of 6.4 million short tons of a grade of 2.2% copper, 2.8 grams per ton gold, 3.03% zinc, and 55 grams per ton silver.’… The company’s Sugarloaf Peak Property in La Paz County has a historic estimate of ‘100 million tons containing 1.5 million ounces (of) gold’ at a grade of 0.5 grams per ton, as reported by Westworld Resources in 1983.”
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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 historic estimate at the Kay Mine was reported by Exxon Minerals in 1982. 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 estimates for the Kay Mine and Sugarloaf Peak properties have not been verified as current mineral resources. None of the key assumptions, parameters and methods used to prepare the historic estimates 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 estimates can be verified and upgraded to current mineral resources. A qualified person has not done sufficient work to classify these as current mineral resources, and Arizona Metals is not treating the historic estimates as current mineral resources.
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