Arizona Metals (TSX: AMC) has released an initial mineral resource estimate for their Kay Mine Project, which is found in Yavapai County, Arizona. The estimate is based on an underground mining model, with the resource said to sit within 5% of the 10 kilometre long strike on the property.
Highlights from the estimate include:
- Indicated: 9.28 million tonnes at 3.18% copper equivalent (1.39 g/t gold, 27.6 g/t silver, 0.97% copper, 0.33% lead and 2.39% zinc)
- Containing 650.6 million pounds of copper equivalent (415,000 ounces of gold, 8.25 million ounces of silver, 197.9 million pounds of copper, 67.3 million pounds of lead, and 490.1 million pounds of zinc)
- Inferred: 0.86 million tonnes at 2.44% copper equivalent (1.06 g/t gold, 15.4 g/t silver, 0.87% copper, 0.20% lead, 1.68% zinc)
- Containing 46.1 million pounds copper equivalent (29,000 ounces of gold, 423,000 ounces of silver, 16.4 million pounds of copper, 3.8 million pounds of lead, 31.8 million pounds of zinc)
In addition to the initial resource, potential is said to exist for expansion between existing drill holes within the deposit, as well as to upgrade the inferred resource. Expansion opportunity exists both along strike and at depth.
Arizona Metals has indicated that they intend to push forward with the development of the Kay Mine project, with additional metallurgical testwork to be completed in advance of a preliminary economic assessment that is to be released in the second half of this year.
“With over 650 million pounds of copper equivalent in the Indicated category alone—and with the deposit remaining open in multiple directions—we see significant opportunity for expansion through continued drilling,” commented Duncan Middlemiss, CEO of Arizona Metals.
Current exploration plans meanwhile call for 10,000 metre of drilling at the Kay North Extension, North-Central, and Western targets in the second half of this year.
Arizona Metals last traded at $1.41 on the TSX.
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