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- Arizona Metals (TSX:AMC) released an initial resource estimate for its Kay Mine project in Yavapai County, Arizona
- Indicated resources alone stand at more than 650 million pounds of copper equivalent, representing more than US$3.25 billion in the ground at the time of writing
- Arizona Metals is focused on developing a polymetallic portfolio in the U.S. state of Arizona
- Arizona Metals stock has given back 26.94 per cent year-over-year but remains up by 113.64 per cent since 2020
Arizona Metals (TSX:AMC) released an initial resource estimate for its Kay Mine project in Yavapai County, Arizona. Here’s a breakdown:
- 9.28 million tons at 3.18 per cent copper equivalent (CuEq), or 1.39 grams per ton (g/t) of gold, 27.6 g/t silver, 0.97 per cent copper, 0.33 per cent lead and 2.39 per cent zinc indicated.
- 0.86 million tons at 2.44 per cent CuEq, or 1.06 g/t gold, 15.4 g/t silver, 0.87 per cent copper, 0.20 per cent lead and 1.68 per cent zinc inferred.
The high-grade resource, audited by G Mining Services, is suitable for bulk-tonnage mining and offers “clear potential to expand between existing drill holes within the deposit, and to upgrade inferred resources,” according to Monday’s news release.
The company, again in partnership with G Mining Services, is advancing Kay towards a fully funded preliminary economic assessment (PEA) planned for the second half of 2025, which will be supported by recently completed metallurgical work.
About 10,000 metres of drilling, also fully funded, will continue through 2025 focused on the Kay North Extension, North-Central and Western targets, all of which will be drilled for the first time, backed by geologic, geochemical and geophysical data.
Arizona Metals will also dedicate 5,000 m of drilling to its Sugarloaf Peak gold project in La Paz County, with drilling and road-construction contractors ready to mobilize crews in Q3.
Leadership insights
“The release of our initial mineral resource estimate marks a major milestone for Arizona Metals and validates not only the scale, but more importantly, the quality of the Kay project,” Duncan Middlemiss, president and chief executive officer of Arizona Metals, said in a statement. “With over 650 million pounds of copper equivalent in the indicated category alone—and with the deposit remaining open in multiple directions—we see significant opportunity for expansion through continued drilling. We believe this resource represents just the beginning. With a strong treasury and a PEA on track for release later this year, we’re excited to advance the Kay project towards becoming one of the top undeveloped volcanogenic massive sulphide projects in the U.S.”
About Arizona Metals
Arizona Metals is focused on developing a polymetallic portfolio in the U.S. state of Arizona, including the 1862-acre Kay project, host to a volcanogenic massive sulphide deposit defined from a depth of 60 m to at least 900 m, and the 4,400-acre Sugarloaf Peak project, boasting a historic estimate of 1.5 million ounces of gold.
Arizona Metals stock (TSX:AMC) last traded at C$1.41. The stock has given back 26.94 per cent year-over-year but remains up by 113.64 per cent since 2020.
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