The Northern Miner on Arizonahttps://www.northernminer.com/exploration/canadas-top-ten-base-metals-and-uranium-companies-2/1003856450/#
8 Arizona Metals
Market Cap: $383.9 million
Arizona Metals (TSXV: AMC; US-OTC: AZMCF) drops one place in the top 10 this year. The company holds the 5.4-sq.-km Kay project that sits on the namesake past-producing mine in Yavapai County, Ariz., about 70 km north of Phoenix.
On June 26, the explorer reported drill result highlights of 25 metres grading 2.7% copper-equivalent, including 3.2 metres at 6.3% copper-equivalent from 476.3 metres depth, in hole KM-23-106. The same hole cut 49.2 metres at 2.4% copper-equivalent (including 10.4 metres at 6.4% copper-equivalent) 17 metres further downhole.
The June results conclude the company’s 83,400 metres of drilling at Kay, completing its Phase 2 drill program that started in early 2021. Following the drilling of priority targets, the company plans to finalize an initial resource estimate. Current metallurgical testing at Kay is expected to be completed in the second half of 2023.
An historical reserve estimate for Kay outlined 6.4 million tonnes grading 2.2% copper, 3.03% zinc, 55 grams silver per tonne and 2.81 grams gold at the VMS deposit. The mine produced about 296,000 lb. of copper, 13,000 lb. of lead, 2,700 oz. of silver and 150 oz. gold in the 1900s.
The company also owns the Sugarloaf Peak property, about 200 km west of Phoenix