Arizona Mining steps out to new zone at Taylor Deposit - HDS-344 intersects 39 feet grading 7.5% zinc, 9.4% lead and 2.4 opt silver
June 28, 2016
Vancouver, B.C., June 28, 2016 - Arizona Mining Inc. (TSX: AZ) (“Arizona Mining” or the “Company”) is pleased to announce the results of two step-out exploration drill holes targeting the expansion of the Taylor Zn-Pb-Ag sulfide deposit located on its 100% owned Hermosa Project in Santa Cruz County, Arizona USA.
Both holes are significant expansions to the maiden resource announced on February 1, 2016 (39.4 M inferred tonnes grading 11% zinc equivalent) in addition to the recently announced HDS-338 step-out hole that intersected 101.5 feet (30.9 m) grading 18.7% Pb+Zn and 6.1 opt Ag and HDS-339 that intersected 108.0 feet (32.9 m) grading 31.3% Pb+Zn and 5.5 opt Ag (see May 5, 2016 press release).
HDS-344 represents a 1060 foot (323 m) step out from the northeastern extent of the previously reported resource area (HDS-336). This drill hole intersected seven zones of mineralization including 107 feet (32.6 m) grading 4.62% zinc, 5.45% lead, 0.04% copper and 2.55 opt Ag, which included an interval of 39 feet (11.9 m) grading 7.48% zinc, 9.41% lead, 0.03% copper, and 2.36 opt silver.
HDS-341 was a 350 foot step out down dip to HDS-338. The hole crossed a major fault and throughout much of the length of the drill hole younger intrusive dike(s) and alteration associated with the dike replaced much of the permissive carbonate section. However, the hole did encounter 33.5 feet (10.2 m) grading 1.98% zinc, 3.12% lead, 0.18% copper and 1.82 opt Ag within the remaining carbonate section.
CEO Jim Gowans commented, “HDS-344 is a major step out hole to the deposit and has intersected a significant section of mineralization in an area we weren’t certain would be permissive. The success of this drill hole has really opened things up for additional expansion. Although we have expanded the area tested with these major step outs the deposit remains open in all directions, and to date we have drilled no blank or even weakly mineralized holes.”
For a full listing of the drill results for HDS-341 and HDS-344 see Table I below.
Table I. Assay summaries for HDS-341 and HDS-344
|DH_ID||From (feet)||To (feet)||Interval (in feet)||From (meters)||To (meters)||Interval (meters)||Ag opt||Pb%||Zn%||Cu%|
(Drill intersections with both Zinc>4.5% and Lead>4.5% 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 triggers 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 lead-zinc-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 NI 43-101 guidelines. 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 completed in December 2013.
For additional information please contact:
Donald Taylor, COO on 520 485 1300, e-mail firstname.lastname@example.org
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.