07:43 AM EST, 01/03/2023 (MT Newswires) -- Arizona Metals Corp.(AZMCF) said Tuesday that it expects to complete the construction of roads for pads W1 and W2 at the Western target, part of the Kay property, during the first quarter.
Construction began in December 2022 while drilling at pad C1 started in November.
The company said it is fully funded with $58 million in cash as of Sep. 30, 2022, to complete the remaining 8,600 meters planned for the phase-two program at Kay.
Arizona Metals (AZMCF) also plans an additional 76,000 meters of drilling in the phase-three program, with budget estimated at $32 million budget. The company plans to use this campaign to test the numerous parallel targets heading west of the Kay mine deposit, as well as possible northern and southern extensions of the deposit.
"This past year has been a challenging one, with the global pandemic continuing to delay some aspects of our work programs," CEO Marc Pais said.
"Despite these challenges, our team has remained focused and dedicated to delivering on our commitments and adapting to the changing landscape."
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