VANCOUVER, BC--(Marketwired - July 13, 2017) -
- 70 FEET ASSAYING 26.4% ZINC-LEAD AND 6.4 OPT SILVER
- 37 FEET ASSAYING 26.4% ZINC-LEAD AND 10.2 OPT SILVER
- 46 FEET ASSAYING 23.8% ZINC-LEAD AND 4.8 OPT SILVER
- 35 FEET ASSAYING 21.3% ZINC-LEAD AND 6.2 OPT SILVER
Arizona Mining Inc. (TSX: AZ) ("Arizona Mining" or the "Company") announces the results of 10 exploration holes from the current drill program focused on expansion of the Taylor Sulfide Zone ("TS"), Taylor Deeps Zone ("TDS") and definition of the Trench Vein System ("TVS") located on its 100%-owned Hermosa Project in Santa Cruz County, Arizona. The drill holes highlighted in this release are successful step out exploration holes indicating the potential for resource growth beyond the grade shells used in the Preliminary Economic Assessment ("PEA") (see Press Release dated April 3, 2017).
"This latest round of drill results is encouraging on several fronts as we continue to significantly expand the Taylor Sulfide and Taylor Deeps Zones and we are still encountering very positive intercepts from the Trench Vein System. It is clear from these and other recent results that the ultimate size and grade potential of this deposit has yet to be determined," said Chief Operating Officer Don Taylor. "In addition, it is now evident that the high grade, updip extension of the Taylor Deeps Zone to the east is continuous and could provide more valuable initial mine feed."
HDS-450 is a vertical hole located on the northeast corner of the Hardshell claim block near previously released holes HDS-446 and HDS-447 (for results see Press Release dated June 20, 2017) and approximately 1,200 feet east of the PEA resource. The drill hole targeted the up-dip portion of the Taylor Deeps Zone where it encountered 45.5 feet of 23.8% combined zinc-lead mineralization containing 4.8 ounces per ton ("opt") silver. Additionally, the drill hole intersected weaker but significant mineralization in the Taylor Sulfide Zone that will extend that mineralization an additional 1,000 feet from the resource outline used in the April 2017 PEA. The robust sulfide intercepts in the Taylor Deeps Zone continue to strengthen the zone in a relatively shallow portion of the deposit (see Figures 1 and 2). Notable assays include:
- 45.5 feet assaying 12.0% zinc; 11.8% lead; and 4.8 opt silver (TDS)
HDS-452 is a vertical hole located approximately 360 feet east of the PEA resource outline in the northwest portion of the Hardshell claim block (see Figures 1 and 2). The drill hole targeted the Taylor Deeps Zone between the resource outline and previously released hole HDS-435 (for results see Press Release dated April 20, 2017) and intersected four mineralized horizons in the Taylor Sulfide Zone plus a very significant mineralized interval in the Taylor Deeps Zone. The mineralization in HDS-452 will extend both the Taylor Sulfide and Taylor Deeps Zones beyond the PEA resource to the east. Significant assays from HDS-452 include:
- 105 feet assaying 1.7% zinc; 1.5% lead; and 1.2 opt silver (TS)
- Including 17 feet assaying 4.7% zinc; 4.7% lead; and 3.8 opt silver
- 37 feet assaying 15.2% zinc; 11.3% lead; and 10.2 opt silver (TDS)
HDS-453 is a vertical hole located approximately 300 feet west of the PEA resource outline in the central portion of the Trench claim block (see Figures 1 and 2). The drill hole targeted the Taylor Deeps Zone between the resource outline and previously released hole HDS-436 (for results see Press Release dated May 18, 2017). The drill hole intersected four veins in the volcanics and a very significant mineralized interval in the Taylor Deeps Zone. Most notable of the results from HDS-453 are:
- 70 feet assaying 7.2% zinc; 19.2% lead; and 6.4 opt silver (TDS)
- Including 27 feet assaying 8.3% zinc; 29.8% lead; and 9.5 opt silver
HDS-343 is a vertical hole located approximately 2,000 feet west of the PEA resource outline on the far western extent of the Trench Claim block (see Figures 1, 2 and 3). The drill hole encountered both the Taylor Sulfide and Taylor Deeps Zones and extends the mineralization an additional 300 feet beyond that intersected in HDS-436. In addition to zinc-lead-silver mineralization, HDS-343 intercepted 24 feet of 3.1% copper and 2.6 opt silver near the bottom of the drill hole hosted in a mix of carbonate and volcanic rocks. Most notable among the mineralized horizons are:
- 76 feet assaying 1.1% zinc; 2.0% lead; and 2.5 opt silver (TDS)
- Including a 9 foot zone which assayed 6.2% zinc; 10.0% lead; and 15.6 opt silver
- 24 feet assaying 3.1% copper and 2.6 opt silver (CRD)
HDS-441 is an angle hole targeting the full width of the Trench Vein System (see Figure 1). The drill hole intersected eight individual veins within the vein system, the most significant of which was:
- 89 feet (not true thickness) assaying 4.3% zinc; 5.5% lead; and 3.7 opt silver (TVS)
- Including 35 feet assaying 9.5% zinc; 11.8% lead; and 6.2 opt silver
For a full list of the Trench Vein, Taylor Sulfide and Taylor Deeps Sulfide mineralized intervals from these holes please refer to Table I.
Table I. DRILL HOLE ASSAY SUMMARIES
|DH_ID||From (feet)||To (feet)||Interval (in feet)||From (meters)||To (meters)||Interval (meters)||Ag opt||Pb%||Zn%||Cu%||Zone|
|Drill intersections with a combined zinc and lead grade of greater than 9% are bolded. Sulfide drill intervals from the Taylor Sulfide Zone and Taylor Deeps Sulfide Zone are down-the-hole drill intervals but are considered to be within +5% of true width based on the dip of the mineralized stratigraphy at 20-25 degrees. The exception to this are the intervals noted as veins. It is not possible to determine the true width of the veins based on the drill density and no representation is made here regarding true width of the veins. Zones shown include; Taylor Sulfide Zone (TS); Taylor Deeps Sulfide Zone (TDS) and Trench Vein System (TVS).|
The results of the Arizona Mining Inc. drilling have been reviewed, verified and compiled by Donald R. Taylor, MSc., PG, Chief Operating Officer for Arizona Mining Inc., a qualified person as defined by National Instrument 43-101 (NI 43-101). Mr. Taylor has 30 years of mineral exploration and mining experience, and is a Registered Professional Geologist through the SME (registered member #4029597).
Assays and Quality Assurance/Quality Control
To ensure reliable sample results, the Company has a rigorous QA/QC program in place that monitors the chain-of-custody of samples and includes the insertion of blanks, duplicates, and certified reference standards at statistically derived intervals within each batch of samples. Core is photographed and split in half with one-half retained in a secured facility for verification purposes.
Sample preparation (crushing and pulverizing) has been performed at ALS Minerals Laboratories, an ISO/IEC accredited lab located in Tucson, Arizona. ALS Minerals Laboratories prepares a pulp of all samples and sends the pulps to their analytical laboratory in Vancouver, B.C. Canada for analysis. ALS analyzes the pulp sample by ICP following a 4-acid digestion (ME-ICP61 for 33 elements) including Cu (copper), Pb (lead), and Zn (zinc). All samples in which Cu (copper), Pb (lead), or Zn (zinc) are greater than 10,000 ppm are re-run using four acid digestion with an ICP -- AES finish (Cu-OG62; Pb-OG62; and Zn-OG62) with the elements reported in percentage (%). Silver values are determined by ICP (ME-ICP61) with all samples with silver values greater than 100 ppm repeated using four acid digestion with an ICP-AES finish (Ag-OG62) calibrated for higher levels of silver contained. Any values over 1,500 ppm Ag trigger a fire assay with gravimetric finish analysis. Gold values are determined by a 30 gm fire assay with an ICP-AES finish (Au-ICP21).
About Arizona Mining
Arizona Mining Inc. (an augustagroup company) is a mineral exploration and development company focused on the exploration and development of its 100%-owned Hermosa Project located in Santa Cruz County, Arizona. The Taylor Deposit, a zinc-lead-silver carbonate replacement deposit, has a resource of 8.6 million tons in the Measured Mineral Resource category grading 4.2% zinc, 4.0% lead and 1.6 opt silver, or 9.7% ZnEq, plus 63.8 million tons in the Indicated Mineral Resource category grading 4.5% zinc, 4.4% lead and 1.9 opt silver, or 10.6% ZnEq, and 38.6 million tons of Inferred Mineral Resources grading 4.4% zinc, 4.2% lead and 3.1 opt silver or 11.6% ZnEq, all reported in accordance with NI 43-101 guidelines utilizing a 4% ZnEq cutoff grade. The Taylor Deposit remains open to the north, west and south over land controlled by the Company and will be aggressively drilled to test the limits of the resource. The Company's other project on the Hermosa property is the Central Deposit, a silver-manganese manto oxide project.
Cautionary Note Regarding Forward-Looking Information
Certain information contained in this press release constitutes forward-looking statements. All statements, other than statements of historical facts, are forward looking statements including statements with respect to the Company's intentions for its Hermosa Project in Arizona, including, without limitation, performing additional drilling, a resource update, permitting and a feasibility study on the Taylor Deposit. Forward-looking statements are often, but not always, identified by the use of words such as may, will, seek, anticipate, believe, plan, estimate, budget, schedule, forecast, project, expect, intend, or similar expressions.
The forward-looking statements are based on a number of assumptions which, while considered reasonable by Arizona Mining, are subject to risks and uncertainties. In addition to the assumptions herein, these assumptions include the assumptions described in Arizona Mining's management's discussion and analysis for the year ended December 31, 2016 ("MD&A"). Arizona Mining cautions readers that forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed in or implied by such forward-looking statements and forward-looking statements are not guarantees of future results, performance or achievement. These risks, uncertainties and factors include general business, economic, competitive, political, regulatory and social uncertainties; actual results of exploration activities and economic evaluations; fluctuations in currency exchange rates; changes in project parameters; changes in costs, including labour, infrastructure, operating and production costs; future prices of zinc, lead, silver and other minerals; variations of mineral grade or recovery rates; operating or technical difficulties in connection with exploration, development or mining activities, including the failure of plant, equipment or processes to operate as anticipated; delays in completion of exploration, development or construction activities; changes in government legislation and regulation; the ability to maintain and renew existing licenses and permits or obtain required licenses and permits in a timely manner; the ability to obtain financing on acceptable terms in a timely manner; contests over title to properties; employee relations and shortages of skilled personnel and contractors; the speculative nature of, and the risks involved in, the exploration, development and mining business; and the factors discussed in the section entitled "Risks and Uncertainties" in the MD&A.
Although Arizona Mining has attempted to identify important risks, uncertainties and other factors that could cause actual performance, achievements, actions, events, results or conditions to differ materially from those expressed in or implied by the forward-looking information, there may be other risks, uncertainties and other factors that cause performance, achievements, actions, events, results or conditions to differ from those anticipated, estimated or intended. Unless otherwise indicated, forward-looking statements contained herein are as of the date hereof and Arizona Mining disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable law.
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For additional information please contact:
Vice-President, Investor Relations & Corporate Communications
Telephone: 416-366-5678 ext. 202