11:17 AM EDT, 06/26/2023 (MT Newswires) -- National Bank Financial on Monday reiterated its outperform, speculative risk, rating on the shares of Arizona Metals(AZMCF) with a C$7.00 price target after the company reported results from infill drilling at its Kay Mine project in the state.
"Arizona Metals(AZMCF) reported assays from an infill drill hole at the Kay Target, part of the Kay Mine Project in Arizona ... Hole LM-23-106 reported three broad intervals of mineralization for which grades and widths fall within range of our database of past results, and we see today's results as confirmatory. We note that the target does remain open for expansionary drilling in multiple directions where we will look forward to future updates. Today's highlights from Hole 106 include: 25m at 3.23% CuEq; 49.2m at 2.75% CuEq; and 5.2m at 1.31% CuEq; and we calculate a weighted average grade of 2.81% CuEq. These results fall within a meaningful range of our overall Kay Target database average of 3.25% CuEq."
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