- Arizona Metals (TSX:AMC), a multi-bagger penny stock sporting one of the highest returns among junior miners over the past five years, is announcing high-grade results from expansion drilling at its Kay Mine project in Arizona
- Highlights include 20.1 metres at 3.4 per cent copper equivalent (CuEq), including 3.2 m at 14.9 per cent CuEq, and mineral expansion by 70 m upward towards surface
- Arizona Metals owns two gold and base metal exploration projects with robust historical resource estimates
- Arizona Metals stock has given back 52.16 per cent year-over-year, but has gained 600 per cent since 2019
Arizona Metals (TSX:AMC), a multi-bagger penny stock sporting one of the highest returns among junior miners over the past five years, is announcing high-grade results from expansion drilling at its Kay Mine project in Arizona.
Eleven new drill holes at the Kay Mine deposit demonstrate mineral continuity and growth potential, expanding mineralization in the shallow portions of the deposit by 70 metres upward toward surface, along a strike length of 335 m.
These include three drill holes on the southern edge of the deposit that encountered zones of high-grade copper-rich (KM-24-143 and KM-24-139) and gold-rich (KM-24-137) mineralization open for expansion.
Drilling highlights from Kay Mine expansion
- Hole KM-24-143 intersected 20.1 m at 3.4 per cent copper equivalent (CuEq), including 3.2 m at 14.9 per cent CuEq, from a vertical depth of 590 m, substantiating continuity in the 90-m gap between holes KM-21-35 (5.5 m at 2.3 per cent CuEq) and KM-22-79 (7.9 m at 4 per cent CuEq). Mineralization is open for expansion to the south.
- Hole KM-24-139 yielded 38 m at 1.4 per cent CuEq, including 4.4 m at 7.1 per cent CuEq, from a vertical depth of 450 m. The hole filled a 70-100 m gap between previous drill holes, including KM-21-50 (53.1 m at 1.5 per cent CuEq) and KM-20-10B (27.6 m at 2 per cent CuEq).
- Hole KM-24-137 yielded 7.9 m at 1.4 grams per tonne of gold equivalent (g/t AuEq), including 0.5 m at 8 g/t AuEq from a vertical depth of 360 m. This hole extends mineralization 55 m south of hole KM-20-14 (39.9 m at 2.5 per cent CuEq) in the central portion of the Kay Mine deposit. Mineralization is open to the south.
The news follows Arizona Metals’ 22 per cent increase in land holdings at the Kay Mine project, and the identification of numerous high-priority exploration targets through rock sampling on the new claims. Samples returned high-grade VMS mineralization up to 11.7 per cent copper, 6.7 g/t gold and 286 g/t silver. The company will test these targets, as well as the northern strike extension of the Kay Deposit, with three newly permitted drill pads, one of which (pad 10) is now active.
Arizona Metals has drilled a total of 106,000 m on the Kay Mine to date, defining a VMS deposit from a depth of 60 m to at least 900 m, which remains open for expansion on strike and at depth. It is well funded, with C$31 million in cash as of Dec. 31, 2023, to complete the remaining 53,000 m of its 76,000-m phase-3 drill program.
Investors can click on the following links to read the full report on Thursday’s results and learn about the company’s exploration track record on the Kay Mine.
Management insights
“These new drill results from the Kay Deposit continue to point to its expansion potential, with three holes encountering both high-grade copper-rich and gold-rich mineralization at the southern edge of the deposit,” Marc Pais, Arizona Metals’ chief executive officer, said in a statement. “Future drill holes will target this area as part of the continuing Kay Mine resource definition program.”
About Arizona Metals
Arizona Metals owns 100 per cent of the Kay Mine project in Yavapai County, Arizona. The project spans 1,300 acres and is royalty free, with a 1982 Exxon Minerals estimate detailing a proven and probable reserve of 6.4 million short tonnes grading 2.2 per cent copper, 2.8 g/t gold, 3.03 per cent zinc and 55 g/t silver.
The copper and gold penny stock also owns the 4,400-ace Sugarloaf Peak property in La Paz County, Arizona, which boasts a historic estimate of 100 million tonnes containing 1.5 million ounces of gold grading 0.5 g/t completed in 1983 for Westworld Resources.
Arizona Metals stock (TSX:AMC) is up by 1.45 per cent, trading at C$2.10 per share as of 11:02 am ET. The stock has given back 52.16 per cent year-over-year, but has gained 600 per cent since 2019.
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