Arizona Mining Discovers New Zone - Taylor Deeps
Vancouver, B.C., February 9, 2017 - Arizona Mining Inc. (TSX: AZ) (“Arizona Mining” or the “Company”) reports that it has identified a new mineralized sulfide zone at its Hermosa-Taylor zinc-lead-silver project in Arizona. The new zone, called Taylor Deeps, has been defined based on a reinterpretation of previous drill results in addition to results from two new holes, and lies below a low angle thrust fault that separates it from the current Taylor sulfide resource. Results to date indicate Taylor Deeps mineralization is continuous, open in all directions, and offers excellent potential to expand the current resource.
Two of the latest three (3) infill drill holes - HDS-402 and HDS-404 - have intersected the Taylor Deeps zone. Significant intercepts from HDS-402 include:
- 30.5 feet assaying 7.4% zinc, 2.7% lead and 4.5 ounces per ton (“opt”) silver
- 24 feet assaying 10.2% zinc, 7.4% lead and 2.6 opt silver
- 128 feet assaying 6.1% zinc, 6.1% lead and 2.2 opt silver
- Including an 18 foot zone which assayed 15.7% zinc, 23.6% lead and 7.1 opt silver
- Including a 15 foot zone which assayed 19.8% zinc, 11.0% lead and 4.2 opt silver
HDS-402 was an infill hole drilled to expand the northeast section of the previously reported resource area and intersected four (4) mineralized veins in the volcanics, one (1) mineralized vein in the carbonates and six (6) distinct mineralized sulfide horizons with a total cumulative thickness of 305 feet (refer to individual sulfide intervals for HDS-402 in Table 1). Of particular interest in this drill hole is the 128 foot thick interval which occurs in the Taylor Deeps zone. This mineralization ties to results from previous holes that intersected Taylor Deeps and makes this zone a significant target for future exploration.
HDS-404 is a vertical infill drill hole located near the center of the current resource and encountered four (4) distinct sulfide horizons with a cumulative thickness of 479 feet (refer to Table 1). Additionally, this hole intersected two (2) significant veins in the volcanics and one (1) additional vein in the lower volcanics. Notable intervals include:
- 97.5 feet assaying 5.3% zinc, 4.6% lead and 1.5 opt silver
- 46 feet assaying 5.4% zinc, 5.4% lead and 1.6 opt silver
- 62.5 foot zone which assayed 4.7% zinc, 7.8% lead and 2.7 opt silver
- Including a 21.5 foot zone which assayed 7.9% zinc, 16.5% lead and 5.6 opt silver
HDS-405 is a vertical infill hole drilled near the center of the resource area that intersected a single vein in the overlying volcanics and eleven (11) distinct sulfide horizons with a cumulative thickness of 457 feet (refer to Table 1). The best intervals include:
- 46 feet assaying 4.4% zinc, 3.5% lead and 1.6 opt silver
- Including an 8 foot zone which assayed 15.9% zinc, 12.3% lead and 4.1 opt silver
- 42 feet assaying 3.5% zinc, 5.0% lead and 1.8 opt silver
- 56 feet assaying 4.4% zinc, 3.9% lead and 1.4 opt silver
CEO Jim Gowans commented: “Recent drilling has greatly enhanced our understanding of the geology and mineral relationships. The full context of the drilling has highlighted Taylor Deeps - a new zone of mineralized carbonates below a sequence of older volcanic rocks and a thrust fault. The Taylor Deeps zone lies approximately 3,000 feet below surface, ranges in thickness from 9.5 feet up to 146.0 feet (refer to Table 2) and is well mineralized with zinc, lead, silver and copper. We will follow up with additional drilling to determine the extent of this new zone.”
For a full list of the vein and sulfide mineralized intervals from these holes please refer to Table 1 below.
Table 1. TAYLOR ASSAY SUMMARIES FOR HDS-402, HDS-404 & HDS-405
Drill intersections with a combined zinc and lead grade of greater than 9% are highlighted. Sulfide drill intervals are down-the-hole drill widths but are considered to be within +/- 5% of true width based on the dip of the mineralized stratigraphy at 22 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.
These new drill holes, coupled with mineralized intercepts from previous drilling, have improved the Company’s understanding of the geology and structural setting, and have identified Taylor Deeps, a large, continuous lower zone of carbonate-hosted zinc-lead-silver-copper sulfide mineralization. The mineralization is hosted by sub-horizontal, highly altered, Permian carbonate units which occur below a thrust fault that separates a wedge of Jurassic volcanics above and the Permian carbonates below (see Figure 1).
Figure 1 below shows the position of the new Taylor Deeps zone relative to the Central oxide deposit (which has different metallurgy and will require separate processing methods) and the Taylor sulfide deposit. The Taylor Deeps mineralization, similar to the overlying Taylor sulfide deposit, is composed of sphalerite, galena and chalcopyrite sulfide mineralization, with lesser amounts of pyrite.
Figure 1. Longitudinal View of Oxide & Sulfide Mineralized Deposits and Taylor Deeps Zone
Figure 2 is a plan view of the Taylor Deeps mineralization. The drill hole markers indicate the pierce points of the drill holes through the mineralized zone. The data is contoured on the mineralized drill intercept in feet multiplied by the combined zinc equivalent grade in percent (feet x ZnEq%). It can be noted from the map that the Taylor Deeps mineralization remains open in all directions.
Figure 2. Taylor Deeps Mineralization Grade Contour Map
Relevant intercepts from previously released holes which intersected and helped define the Taylor Deeps mineralization can be seen in Table 2.
Table 2. Taylor Deeps Drill Hole Intercepts
Drill intersections with a combined zinc and lead grade of greater than 9% are highlighted. Sulfide drill intervals are down-the-hole drill widths but are considered to be within +/- 5% of true width based on the dip of the mineralized stratigraphy at 22 degrees.
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 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 31.1 million tons in the Indicated Mineral Resource category grading 10.9% zinc equivalent (“ZnEq”) and 82.7 million tons in the Inferred Mineral Resource category grading 11.1% ZnEq both utilizing a 4% ZnEq cutoff grade calculated in accordance with NI 43-101 guidelines (refer to the Company’s news release dated October 31, 2016). 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.
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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, including, without limitation, performing additional drilling and metallurgical testwork 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.