Arizona Mining Expands Taylor Deposit with Step Out Drilling Including 61.5 Feet Grading 11.7% Zinc, 17.3% Lead and 9.3 Opt Silver in HDS-338 and 57 Feet Grading 22.6% Zinc, 23.0% Lead and 8.8 Opt Silver in HDS-339
May 5, 2016
Vancouver, B.C., May 5, 2016 - Arizona Mining Inc. (TSX: AZ) (“Arizona Mining” or the “Company”) is pleased to announce the results for the first two drill holes targeting the expansion of the Taylor Zn-Pb-Ag sulfide deposit located on its Hermosa Project in Santa Cruz County, Arizona USA. The drill holes, HDS-338 and HDS-339, are significant step outs from the resource announced on February 1, 2016 (see drill hole location map below).
The Company is engaged in an aggressive drill program to determine the extent of the Taylor Deposit sulfide mineralization. To-date approximately 45.9 acres (18.5 hectares) of the 275 acre (111.5 hectare), or 17 percent, of the area of permissive geology and mineralization highlighted by historic drilling and geology have been drill tested.The ongoing program is designed to test the entire area of permissive geology through a series of wide-spaced diamond drill holes.
Currently 5 drill rigs are being utilized to carry out a planned 125,000 foot (38,100 m) exploration program, with additional rigs planned to be added in the coming weeks.
HDS-338 represents a step out of 830 feet (253 m) onto the newly acquired patented mining claims from the northwestern extent of the previous drilling that was included in the February 2016 resource calculation.The drill hole intersected several zones of carbonate replacement and skarn styles of mineralization including 61.5 feet (18.7 m) grading 11.7% zinc; 17.3% lead; 0.28% copper and 9.32 opt. Ag.
HDS-339 is an angle hole (230 degree az. / -82 deg.) targeting the extension of the mineralization onto the unpatented mining claims to the southwest of the resource in an area previously untested by drilling.This hole encountered 17 individual zones of mineralization (exceeding 24 foot percent lead+zinc) including 57 feet (17.4 m) grading 22% zinc; 23% lead; 0.17% copper and 8.82 opt. Ag.
For a full listing of the drill results for HDS-338 and HDS-339 see Table 1 below.
CEO Jim Gowans commented, “We are very excited that these most recent drill results are supporting our geological interpretation that the Taylor Deposit extends onto our newly acquired patented claims to the northwest and our unpatented claims to the west and southwest. The results continue to indicate the tremendous size and grade potential of the Taylor Deposit.The deposit remains open to the north, west and south; to date we have drilled no blank or even weakly mineralized holes.To accelerate our understanding of the size and scope of the deposit we currently have 5 drill rigs operating on site and are expecting 2 more in the coming weeks.”
Table 1. Assay summaries for HDS-338 and HDS-339
|DH_ID||From (feet)||To (feet)||Interval (in feet)||From (meters)||To (meters)||Interval (meters)||Ag opt||Cu%||Pb%||Zn%||Ore Zone|
(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 email@example.com
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.