SOURCE: Arizona Mining Inc.

Arizona Mining Inc.

January 26, 2017 06:30 ET

Arizona Mining Reports Further Drilling Results at Hermosa-Taylor; Includes 45 Foot Interval Assaying 12.7% Zinc; 31.7% Lead and 10.4 Opt Silver Within Broader 124 Foot Mineralized Zone

VANCOUVER, BC--(Marketwired - January 26, 2017) - Arizona Mining Inc. (TSX: AZ) ("Arizona Mining" or the "Company") announces the results of three (3) exploration drill holes from its current program on the Taylor zinc-lead-silver sulfide deposit located on its 100%-owned Hermosa Project in Santa Cruz County, Arizona. This brings the total number of drill holes reported in the 2016-2017 program to fifty-six (56).

HDS-399 is a near vertical hole (-87 degree) drilled to expand the northeast section of the previously reported resource area. HDS-399 intersected four (4) mineralized veins and three (3) distinct mineralized CRD horizons with a total cumulative mineralized thickness of 210 feet. Particularly interesting in this drill hole is the 124 foot thick mineralized interval which occurs in the lower carbonate sequence. This is the thickest and highest grade intercept to date from the lower carbonates and opens up additional drill targets for future exploration. Most notable among the mineralized zones are:

  • 33 feet assaying 3.9% zinc, 6.7% lead and 2.6 ounces per ton ("opt") silver
  • 124 feet assaying 7.4% zinc, 14.8% lead and 5.2 opt. silver
    -
    Including a 45 foot zone which assayed 12.7% zinc, 31.7% lead and 10.4 opt silver

HDS-401 is a vertical infill drill hole located on the northern margin of the previously reported mineral resource. The drill hole encountered nine (9) distinct CRD mineralized horizons with a cumulative thickness of 416.5 feet. Additionally this drill hole intersected four (4) veins including two (2) significant veins in the volcanics. Notable CRD mineralized horizons include:

  • 65 feet assaying 3.6% zinc, 2.3% lead and 1.6 opt. silver
  • 30 feet assaying 5.3% zinc, 3.8% lead and 1.6 opt. silver
  • 104 foot zone which assayed 2.6% zinc, 3.4% lead and 1.2 opt silver
  • 50 feet assaying 5.8% zinc, 4.6% lead and 1.4 opt. silver
  • 55.5 foot zone assaying 3.8% zinc, 4.3% lead and 1.4 opt silver

HDS-403 is a vertical infill drill hole on the southwest margin of the resource area that intersected three (3) distinct CRD horizons with a cumulative thickness of 406 feet. The best intervals in the drill hole were:

  • 117 feet assaying 4.0% zinc, 3.1% lead and 1.1 opt silver
    -
    Including a 28 foot zone which assayed 12.9% zinc, 9.1% lead and 3.1 opt silver
  • 30.5 feet assaying 9.3% zinc, 7.7% lead and 2.2 opt silver
  • 34 feet assaying 6.7% zinc, 18.9% lead and 6.4 opt silver

For a full list of the vein and CRD mineralized intervals from these holes please refer to Table I below.

CEO Jim Gowans commented: "The latest drill results continue to support the continuity of the deposit with respect to thickness and grade within the resource area, however the most notable interval in today's results is the high-grade zinc/lead/silver from the lower portion of HDS-399. This is the best interval we have encountered to date from the lower carbonate sequence and provides encouragement for potential resource expansion at depth."

Table I. ASSAY SUMMARIES FOR HDS-399, HDS-401 & HDS-403

DH_ID From (feet) To (feet) Interval (in feet) From (meters) To (meters) Interval (meters) Ag opt Pb% Zn% Cu% Ore Zone
HDS-399 315 325.5 10.5 96.0 99.2 3.2 7.57 0.92 4.04 0.24 Vein
HDS-399 897 910 13 273.4 277.4 4.0 4.85 5.30 9.58 0.23 Vein
HDS-399 2701 2754 53 823.2 839.4 16.2 0.92 2.75 2.25 0.04 CRD
HDS-399 2797 2830 33 852.5 862.5 10.1 2.62 6.66 3.93 0.03 CRD
HDS-399 3146 3149 3 958.9 959.8 0.9 3.03 2.33 6.52 0.10 Vein
HDS-399 3247 3292 45 989.6 1003.4 13.7 8.40 1.92 0.25 0.07 Vein
HDS-399 3377 3501 124 1029.3 1067.1 37.8 5.15 14.83 7.41 0.53 CRD
Including 3377 3422 45 1029.3 1043.0 13.7 10.43 31.70 12.72 0.84 CRD
                       
HDS-401 776.5 793 16.5 236.7 241.7 5.0 13.23 7.61 14.40 0.49 Vein
HDS-401 1891 1904 13 576.3 580.3 4.0 2.08 4.34 6.32 0.07 Vein
HDS-401 1934 1999 65 589.5 609.3 19.8 1.56 2.26 3.60 0.08 CRD
HDS-401 2061 2091 30 628.2 637.3 9.1 1.55 3.82 5.33 0.08 CRD
HDS-401 2161 2265 104 658.6 690.3 31.7 1.21 3.39 2.62 0.06 CRD
HDS-401 2288 2338 50 697.3 712.6 15.2 1.42 4.60 5.76 0.06 CRD
HDS-401 2413 2420 7 735.4 737.6 2.1 1.15 3.82 5.19 0.05 Vein
HDS-401 2472 2513 41 753.4 765.9 12.5 0.97 2.98 2.37 0.03 CRD
HDS-401 2537.5 2593 55.5 773.4 790.3 16.9 1.42 4.31 3.83 0.07 CRD
HDS-401 3318 3329 11 1011.3 1014.6 3.4 22.66 0.84 0.33 0.19 Vein
HDS-401 3404 3419 15 1037.5 1042.1 4.6 0.76 2.00 1.86 0.11 CRD
HDS-401 3619 3660 41 1103.0 1115.5 12.5 0.83 2.39 2.63 0.33 CRD
HDS-401 3760 3775 15 1146.0 1150.6 4.6 1.30 2.21 1.77 0.25 CRD
                       
HDS-403 1272 1277 5 387.7 389.2 1.5 0.90 1.94 5.68 0.02 Vein
HDS-403 1557 1592 35 474.6 485.2 10.7 1.38 1.21 1.72 0.04 Vein
HDS-403 2015 2132 117 614.1 649.8 35.7 1.05 3.09 3.95 0.03 CRD
Including 2054 2082 28 626.0 634.6 8.5 3.06 9.12 12.93 0.06 CRD
HDS-403 2527 2782 255 770.2 847.9 77.7 0.58 1.68 2.01 0.02 CRD
Including 2751.5 2782 30.5 838.6 847.9 9.3 2.18 7.70 9.27 0.07 CRD
HDS-403 3283 3317 34 1000.6 1011.0 10.4 6.40 18.90 6.72 0.32 CRD

Drill intersections with a combined zinc and lead grade of greater than 9% are bolded. CRD drill intervals are down-the-hole drill widths but are considered to be within +/- 5% of true width based on the dip of the ore body 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.

Qualified Person

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.

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.

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Contact Information

  • For additional information please contact:

    Susan Muir

    Vice-President, Investor Relations & Corporate Communications
    Telephone: 416-505-7606
    Email: smuir@arizonamining.com