Arizona Mining Commences Twin Exploration Decline And Provides Taylor Project Update
Vancouver, B.C., May 15, 2018 – Arizona Mining Inc. (TSX: AZ) (“Arizona Mining” or the “Company”) announces that, further to its March 26, 2018 press release ‘Arizona Mining to Begin Twin Declines at Taylor Ahead of Schedule’, it has awarded the contract for the twin exploration decline to Cementation Inc. of Salt Lake City, Utah. Earthworks to prepare the portals are nearly complete and the Company expects to begin advancing the declines within the next month, several months ahead of schedule.
The Water Treatment Plant remains on schedule with all major equipment delivered and commissioning expected in July 2018. The Voluntary Remediation Plan which includes a modern lined Tailings Storage Facility (“TSF”) with an Underdrain Collection Pond (“UCP”) remains on schedule. The first TSF area earthworks movement is complete and the TSF is ready to be lined. The TSF will be used to store historic tailings as well as be used for storage of material being removed from the twin exploration decline. The earthworks for the UCP are complete and the liner is currently being installed.
“I am very pleased to see the significant progress at the Taylor project,” said James Gowans, President & CEO. “Our construction team and our suppliers are meeting our internal milestones while operating in a safe and responsible manner. With the commencement of the twin exploration decline, we are now underway on three facilities that will serve as the foundation for future operations for the site.”
Arizona Mining continues to progress the Taylor project with the continued construction of remediation projects, feasibility study activities and exploration drilling. A photographic update of construction activities is available on the Company’s website at this link.
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 15.2 million tons in the Measured Mineral Resource category grading 4.0% zinc, 4.0% lead and 1.6 opt silver, or 9.6% ZnEq, plus 85.8 million tons in the Indicated Mineral Resource category grading 4.2% zinc, 4.3% lead and 2.2 opt silver, or 10.5% ZnEq, and 43.6 million tons of Inferred Mineral Resources grading 3.9% zinc, 4.8% lead and 3.4 opt silver or 11.9% 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.
For additional information please contact:
Senior Vice President, Corporate Development
Telephone: 416-366-5678 ext. 207
Vice President, Investor Relations & Corporate Communications
Telephone: 416-366-5678 ext. 202
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, construction of the twin exploration decline, 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, 2017 ("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.