Arizona Mining Drilling Extends Footprint At Taylor Deposit Hds-374 Intersects Nine (9) Mineralized Zones With 601.5 Feet Cumulative Thickness Including 90 Foot Interval Assaying 17.4% Zinc, 12.6% Lead And 4.1 Opt Silver Within A Broader Zone Of Minerali
October 11, 2016
Vancouver, B.C., October 11, 2016 - Arizona Mining Inc. (TSX: AZ) (“Arizona Mining” or the “Company”) is pleased to announce the results of a further five (5) exploration drill holes from its current program targeting the expansion of the Taylor Zn-Pb-Ag sulfide deposit located on its 100% owned Hermosa Project in Santa Cruz County, Arizona. These and the other recently completed drill holes continue to expand and infill the maiden resource announced on February 1, 2016 of 39.4 M inferred tonnes grading 11% zinc equivalent.
HDS-374 is an angle (-75 degrees) core hole drilled to expand the mineralization to the southwest of the current resource area. The drill hole intersected nine (9) mineralized zones with a cumulative thickness of 601.5 feet (all intervals are interpreted to be within 5% of true width). The results from this drill hole continue to indicate that good continuity exists between the original resource area and other step out drill holes in the area. Several well mineralized zones were intersected in the drill hole, including a 402.5 foot thick interval assaying 7.3% zinc, 6.2% lead and 2.1 ounces per ton (“opt”) silver. Within this broader zone of mineralization are three sub-intervals including an upper zone 90 feet thick, which assayed 17.5% zinc, 12.6% lead and 4.1 opt silver, and a lower zone 29.0 feet thick, which assayed 10.1% zinc, 12.4% lead and 4.2 opt silver.
HDS-373 is an important step out angle drill hole (-87.5 degrees) drilled northwest of the boundary of the previously reported resource area. The drill hole results indicate that good continuity exists between the original resource area and step out drill holes located further north and northwest. HDS-373 intersected seven (7) distinct mineralized horizons with a total cumulative mineralized thickness of 258 feet. Several well mineralized zones were intersected in the drill hole, including an 11 foot thick interval assaying 16.0% zinc, 11.7% lead and 8.4 opt silver within a broader 65 foot thick zone of mineralization.
HDS-370 is also an important angled (-87.5 degree) step out hole drilled northwest of the previously reported resource area. The drill hole results also indicate that good continuity exists between the original resource area and step out drill holes located further north, including HDS-338, HDS-340, HDS-341 and HDS-373, reported above. HDS-370 intersected seven (7) distinct mineralized horizons with a total cumulative mineralized thickness of 246.5 feet. Several well mineralized zones were intersected in the drill hole including a 20 foot thick interval assaying 4.1% zinc, 23.0% lead and 10.4 opt silver. A second interval of note in HDS-370 is a 103.5 foot thick zone which assayed 3.7% zinc, 4.5% lead and 1.5 opt silver, which included a zone of 5.5 feet which assayed 23.1% zinc, 23.2% lead and 13.0 opt silver.
HDS-369 is an exploration step out drill hole located 1,000 feet north of the current resource area. The hole was drilled at a steep angle to extend the mineralization further to the north/northwest. The drill hole encountered six (6) distinct intervals of weak to moderate zinc-lead-silver mineralization. Notable in the drill hole is a 67 foot thick interval that assayed 0.3% zinc, 3.5% lead and 2.2 opt silver.
HDS-367 is a step out drill hole located approximately 500 feet northwest of the resource area. The drill hole encountered three (3) distinct mineralized horizons with a cumulative mineralized thickness of 70 feet. Most notable is a 23.5 foot thick horizon near the bottom of the hole that assayed 5.9% zinc, 5.4% lead and 1.7 opt silver.
Arizona Mining CEO Jim Gowans commented, “The drill results being released today continue to expand and add confidence to the Taylor Deposit resource. As such, we will continue the aggressive drill program already in place at least through the end of 2016.”
Table I. ASSAY SUMMARIES FOR HDS-367, HDS-369, HDS-370, HDS-373 & HDS-374
|DH_ID||From (feet)||To (feet)||Interval (in feet)||From (meters)||To (meters)||Interval (meters)||Ag opt||Pb%||Zn%||Cu%|
(Drill intersections with a combined zinc and lead grade of greater than 9% are highlighted. Drill intervals are down the hole drill width but are considered to be within 5% of true width)
The results of the Arizona Mining Inc. drilling results 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 more than 25 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 rerun 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. is a Canadian 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 39.4 million tonnes in the Inferred Mineral Resource category grading 11% zinc equivalent (“ZnEq”) utilizing a 6% ZnEq cutoff grade calculated in accordance with CIM definitions for mineral resources. 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 recently completed metallurgical test work on drill core from the Taylor Deposit that projects overall recoveries of 92.9% Pb; 85.5% Zn and 91% Ag using industry standard froth flotation processing technology. The Company’s other project on the Hermosa property is the Central Deposit, a silver-manganese manto oxide development project that has a prefeasibility study which was released in December 2013.
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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, USA including, without limitation, performing additional drilling 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, 2015 (“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.