SOURCE: Arizona Mining Inc.

Arizona Mining Inc.

February 14, 2017 06:30 ET

Arizona Mining Reports Further Drilling Results at Hermosa-Taylor; Includes 87 Foot Interval Assaying 31.7% Zinc, 15.4% Lead and 5.0 Opt Silver Within Broader 402 Foot Mineralized Zone

VANCOUVER, BC--(Marketwired - February 14, 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 sixty-two (62).

HDS-413 is an angled drill hole (-82 degrees) drilled to infill an area southwest of the previously reported resource area. HDS-413 intersected seven (7) distinct mineralized sulfide horizons which when added together have a total cumulative mineralized thickness of 716 feet (refer to Table I). Six (6) of the mineralized zones are in the Taylor Sulfide zone and one (1) intersected the Taylor Deeps Sulfide zone. Some of the best results in the hole included:

  • 402 feet assaying 12.8% zinc, 7.2% lead and 2.3 ounces per ton ("opt") silver
    • Including an 87 foot zone which assayed 31.7% zinc, 15.4% lead and 5.0 opt silver
    • Including a 15 foot zone which assayed 17.7% zinc, 18.2% lead and 12.6 opt silver
  • 203 feet assaying 4.4% zinc, 3.6% lead and 1.1 opt silver
    • Including a 21 foot zone which assayed 10.7% zinc, 8.9% lead and 2.6 opt silver
    • Including a 15 foot zone which assayed 14.5% zinc, 10.3% lead and 3.1 opt silver

HDS-406 is an angled drill hole (-85 degrees) drilled to infill an area of the previously reported mineral resource. The drill hole encountered three (3) mineralized veins in the volcanics, four (4) mineralized horizons within the Taylor Sulfide zone and two (2) mineralized horizons in the Taylor Deeps Sulfide zone. When added together the Taylor Sulfide zone intervals have a cumulative thickness of 136.5 feet (refer to Table I). Most notable among the mineralized horizons includes:

  • 12 feet assaying 7.5% zinc, 3.7% lead and 1.6 opt silver
  • 71 feet assaying 12.0% zinc, 9.4% lead and 3.0 opt silver

HDS-407 is a vertical infill drill hole that intersected two (2) mineralized veins; eight (8) mineralized horizons in the Taylor Sulfide zone plus a significant zone of mineralization in the Taylor Deeps Sulfide zone. Most notable among the mineralized horizons is the mineralization in the Taylor Deeps zone which assayed:

  • 55 feet assaying 10.1% zinc, 9.5% lead and 6.0 opt silver

For a full list of the vein, Taylor Sulfide and Taylor Deeps Sulfide mineralized intervals from these holes please refer to Table I.

CEO Jim Gowans commented: "These drill results continue to confirm the continuity of the Taylor Sulfide portion of the deposit and expand the footprint of the new Taylor Deeps zone."

 
Table I. ASSAY SUMMARIES FOR HDS-406, HDS-407 & HDS-413
 
DH_ID  From (feet)  To (feet)  Interval (in feet)  From (meters)  To (meters)  Interval (meters)  Ag opt  Pb%  Zn%  Cu%  Zone*
HDS-406  1379.5  1382  2.5  420.5  421.2  0.8  7.50  0.39  0.70  0.45  Vein
HDS-406  1488  1500  12  453.5  457.2  3.7  1.64  3.68  7.53  0.06  TS
HDS-406  1723  1728  5  525.1  526.7  1.5  2.87  2.80  5.03  0.28  Vein
HDS-406  1901  1905  4  579.4  580.6  1.2  6.07  0.49  1.40  0.17  Vein
HDS-406  1970  2011  41  600.4  612.9  12.5  0.81  1.45  3.52  0.06  TS
HDS-406  2398  2410.5  12.5  730.9  734.7  3.8  1.46  4.39  3.11  0.03  TS
HDS-406  2508  2579  71  764.4  786.0  21.6  2.98  9.42  12.02  0.11  TS
HDS-406  3371  3408  37  1027.4  1038.7  11.3  1.03  2.92  3.11  0.25  TDS
HDS-406  3532  3535.5  3.5  1076.5  1077.6  1.1  20.24  2.72  1.47  1.13  TDS
                                  
HDS-407  572  587  15  174.3  178.9  4.6  1.65  1.50  4.94  0.02  TS
HDS-407  912  972  60  278.0  296.3  18.3  1.03  1.22  2.24  0.01  Vein
Including  947  957  10  288.6  291.7  3.0  2.67  4.09  10.47  0.04  Vein
HDS-407  1047  1062  15  319.1  323.7  4.6  1.00  1.19  1.75  0.03  Vein
HDS-407  2037  2092  55  620.8  637.6  16.8  0.51  1.31  1.83  0.04  TS
HDS-407  2242  2286.5  44.5  683.3  696.9  13.6  0.69  1.14  1.49  0.20  TS
HDS-407  2652  2687  35  808.3  819.0  10.7  0.85  2.48  2.73  0.03  TS
HDS-407  2814.5  2822  7.5  857.8  860.1  2.3  0.98  3.14  3.05  0.01  TS
HDS-407  2987  3012  25  910.4  918.0  7.6  0.41  1.23  1.00  0.01  TS
HDS-407  3139.5  3152  12.5  956.9  960.7  3.8  3.74  2.76  1.84  0.13  TS
HDS-407  3181.5  3197.5  16  969.7  974.6  4.9  2.22  3.71  1.27  0.13  TS
HDS-407  3277  3332  55  998.8  1015.5  16.8  5.98  9.52  10.14  0.27  TDS
                                  
HDS-413  1197  1222  25  364.8  372.4  7.6  1.13  0.97  1.89  0.03  TS
HDS-413  1765  2167  402  537.9  660.5  122.5  2.29  7.15  12.75  0.17  TS
Including  2007  2094  87  611.7  638.2  26.5  5.00  15.44  31.65  0.28  TS
HDS-413  2277  2325  48  694.0  708.6  14.6  7.40  7.47  8.23  0.40  TS
Including  2295  2310  15  699.5  704.1  4.6  12.57  18.21  17.70  0.64  TS
HDS-413  2482  2685  203  756.5  818.3  61.9  1.09  3.61  4.36  0.05  TS
Including  2487  2496  9  758.0  760.7  2.7  6.75  22.50  30.33  0.57  TS
Including  2597  2618  21  791.5  797.9  6.4  2.62  8.87  10.71  0.09  TS
Including  2647  2662  15  806.8  811.3  4.6  3.05  10.34  14.46  0.06  TS
HDS-413  2753  2772  19  839.1  844.9  5.8  0.87  2.70  1.67  0.01  TS
HDS-413  3202  3211  9  975.9  978.7  2.7  17.62  11.45  8.27  0.25  TS
HDS-413  3352  3362  10  1021.6  1024.7  3.0  3.72  2.36  3.07  0.23  TDS
*TS (Taylor Sulfides)
*TDS (Taylor Deeps Sulfides)
 
Drill intersections with a combined zinc and lead grade of greater than 9% are bolded. Taylor Sulfide and Taylor Deeps Sulfide drill intervals are down-the-hole drill widths but are considered to be within +/- 5% of true width based on the dip of the mineralized stratigraphy 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