- Arizona Gold Corp. (AZG) says drilling from its Copperstone Gold Project has achieved the expected results
- Current drilling followed up on what was a very successful 5000-metre 2019 drilling program
- The company believes the project demonstrates significant upside
- Arizona Gold hopes to restart production at the site in 2021
- Shares of Arizona Gold are down 7.14 per cent on the day, trading at C$0.13 at 3:14 p.m. EST
Arizona Gold Corp. (AZG) says drilling from its Copperstone Gold Project has achieved the expected results.
The company owns 100 per cent of the Copperstone project, located in Arizona.
“We are very pleased to announce the initial results of the completed Reverse Circulation (RC) drilling program at surface. The surface RC drilling was largely focused on establishing continuity of the Footwall and Copperstone zone mineralization. We are again using the opportunity to continue with the 2018 discovery of the new Footwall zone. Drilling results to date clearly demonstrate the Footwall and Copperstone zones remain open and indicate further expansion of gold mineralized zones along strike and dip with future drilling. Using the same target identification methodologies as for our prior programs, we expected to achieve similar results and, so far, we have,” said Arizona Gold President Martin Kostuik.
“In December we started our underground core drilling and have added a second drill rig with assays currently pending. The underground core drilling is designed to expand resources by drilling for strike and down dip extensions including some portion of infill of previously drilled gold mineral domains, following up on what was a very successful 5000-metre 2019 drilling program.”
The surface RC drilling was recently completed, having drilled a total of 5,050 metres, ranging from 200 to 400 metres in depth. The company used two drill rigs as part of the program, which was a continuation of the successful 2017 drilling program.
The primary focus of the current drilling program is further extending the known boundaries and increasing the current resource in both zones.
The company’s current focus is on maximizing Copperstone’s potential by defining and expanding current resources and further optimizing the mine’s economics for purposes of the restart of gold production in 2021.
The company believes the project demonstrates significant upside exploration potential that has yet to be drilled within a 50 square-kilometre land package that includes past production of over 500,000 ounces of gold by way of an open-pit operation.
Shares of Arizona Gold are down 7.14 per cent on the day, trading at C$0.13 at 3:14 p.m. EST.