Ms. Susan Muir reports
ARIZONA MINING REPORTS BEST DRILL HOLE TO DATE AT HERMOSA TAYLOR; INCLUDES 104 FEET ASSAYING 22.1% ZINC; 14.6% LEAD & 5.6 OPT SILVER; RECEIVES INTEREST IN CONCENTRATE AT THE TAYLOR DEPOSIT
Arizona Mining Inc.
has provided the results of five exploration drill holes from its current program on the Taylor zinc-lead-silver sulphide deposit located on its 100-per-cent-owned Hermosa project in Santa Cruz county, Arizona. This brings the total number of drill holes reported in the latest program to 46.
HDS-396 is a vertical hole drilled to infill an area on the southwest margin of the previously reported resource area. The drill hole was successful and clearly indicates continuity of the mineralization in the area of the resource previously defined by HDS-334 and HDS-361. HDS-397 intersected 11 distinct mineralized CRD horizons with a total cumulative mineralized thickness of 947 feet. Several mineralized zones were intersected in the drill hole including a 524-foot-thick interval assaying 8.5 per cent zinc, 6.9 per cent lead and 2.5 ounces per ton silver. Within the larger interval several higher-grade zones were intersected, the best of which was a 104-foot-thick interval which assayed 22.1 per cent zinc, 14.6 per cent lead and 5.6 ounces per ton silver.
The results of the remaining four holes (HDS-379, HDS-381, HDS-385 and HDS-391) are provided in the table.
Chief executive officer Jim Gowans commented, "HDS-396 is one of the best holes I have seen in my career."
Arizona Mining has received interest from several groups regarding the potential sale of concentrates from its Taylor deposit.
Oskar Lewnowski of Orion Mine Finance said: "Having our own zinc mine and being in the industry, we have reviewed the assays and specs of the work done to date on the zinc concentrates at the Taylor deposit of Arizona Mining. We would be prepared to purchase as much of the zinc concentrates, at market, without penalty, as we could. The Taylor deposit is shaping up to be a world-class deposit and Orion would welcome any opportunity to be involved."
Ocean Partners USA Inc., an internationally recognized global trader of zinc, lead, copper and precious metal concentrates and related byproducts and secondary materials, has advised, that in its opinion, and based on the preliminary metallurgical test work released in early 2016, both the zinc and the lead concentrate expected to be produced from the Taylor deposit on the Hermosa project of Arizona Mining will be highly marketable under any market conditions. Furthermore, the company has been advised by Ocean that it is prepared to enter into a memorandum of understanding to purchase all of the lead and zinc concentrates to be produced at the Taylor deposit.
The company is completing further metallurgical work and its preliminary economic assessment (PEA) by end of the first quarter 2017. Once completed, the company will be in a position to address the interest from the various parties regarding offtake agreements for its concentrates. Management has always felt the composition of the concentrates would not be an impediment to the success of the Taylor deposit.
ASSAY SUMMARIES FOR HDS-379, HDS-381, HDS-385, HDS-391 AND HDS-396
From To Int. From To Int. Ag Pb Zn Cu Ore
DH ID (ft) (ft) (ft) (m) (m) (m) (opt) (%) (%) (%) zone
HDS-379 502 507 5 153.0 154.5 1.5 3.70 2.32 6.88 0.09 Vein
HDS-379 967 972 5 294.7 296.3 1.5 3.62 3.12 3.85 0.16 Vein
HDS-379 1,750 1,762 12 533.4 537.0 3.7 6.82 1.42 2.48 0.34 Vein
HDS-379 1,797 1,823 26 547.7 555.6 7.9 4.44 5.19 1.71 0.19 Vein
HDS-379 2,397 2,402 5 730.6 732.1 1.5 4.29 1.12 0.96 0.19 Vein
HDS-379 3,235.5 3,238 2.5 986.1 986.9 0.8 3.41 7.46 0.39 1.29 Vein
HDS-379 3,549.5 3,577 27.5 1,081.8 1,090.2 8.4 2.97 8.85 0.90 0.07 CRD
HDS-379 4,562 4,582 20 1,390.4 1,396.5 6.1 1.23 3.91 3.60 0.08 CRD
HDS-381 872 878 6 265.8 267.6 1.8 1.95 2.38 4.97 0.11 Vein
HDS-381 1,580 1,600 20 481.6 487.7 6.1 0.80 1.40 1.98 0.12 Vein
HDS-381 3,530 3,551 21 1,075.9 1,082.3 6.4 2.97 1.74 0.30 0.09 Vein
HDS-381 3,690 3,753 63 1,124.7 1,143.9 19.2 2.16 2.52 1.29 0.10 CRD
HDS-381 3,921 3,941 20 1,195.1 1,201.2 6.1 0.80 2.10 2.48 0.50 CRD
HDS-385 3,835.5 3,837.5 2 1,169.0 1,169.6 0.6 25.93 9.04 3.89 1.31 Vein
HDS-385 3,947 4,015 68 1,203.0 1,223.7 20.7 2.11 2.28 1.29 0.03 CRD
HDS-391 830 840 10 253.0 256.0 3.0 4.46 3.85 1.96 0.18 CRD
HDS-391 1,445 1,455 10 440.4 443.5 3.0 3.57 1.69 3.05 0.22 Vein
HDS-391 1,575 1,590 15 480.0 484.6 4.6 5.54 4.08 0.63 0.09 Vein
HDS-391 2,098.5 2,101.5 3 639.6 640.5 0.9 9.86 12.90 16.60 0.14 Vein
HDS-391 3,676 3,679 3 1,120.4 1,121.3 0.9 3.09 6.26 4.73 0.09 Vein
HDS-391 3,732 3,765 33 1,137.5 1,147.5 10.1 3.20 1.31 1.95 0.39 Vein
HDS-391 4,080 4,090 10 1,243.5 1,246.6 3.0 2.75 3.02 0.54 0.04 CRD
HDS-391 4,110 4,130 20 1,252.7 1,258.8 6.1 1.38 1.55 1.34 0.23 CRD
HDS-391 4,260 4,270 10 1,298.4 1,301.4 3.0 1.45 2.65 8.10 0.14 CRD
HDS-396 1,018 1,031 13 310.3 314.2 4.0 8.68 6.33 6.67 0.97 Vein
HDS-396 1,047 1,059 12 319.1 322.8 3.7 5.68 9.21 17.43 0.04 Vein
HDS-396 1,343 1,349 6 409.3 411.2 1.8 1.91 3.68 5.97 0.05 CRD
HDS-396 1,502 1,512 10 457.8 460.8 3.0 1.26 2.66 2.76 0.03 CRD
HDS-396 1,779 2,303 524 542.2 701.9 159.7 2.53 6.87 8.47 0.40 CRD
Including 1,779 1,810 31 542.2 551.7 9.4 5.46 18.27 11.96 4.90 CRD
Including 1,957 1,972 15 596.5 601.0 4.6 2.73 9.13 12.00 0.52 CRD
Including 2,032 2,062 30 619.3 628.5 9.1 2.91 8.98 12.00 0.23 CRD
Including 2,141 2,245 104 652.5 684.2 31.7 5.58 14.61 22.14 0.18 CRD
HDS-396 2,335 2,392 57 711.7 729.0 17.4 0.81 2.59 1.62 0.02 CRD
HDS-396 2,517 2,717 200 767.1 828.1 61.0 1.25 4.18 5.42 0.04 CRD
Including 2,624 2,644 20 799.8 805.9 6.1 2.90 9.82 13.70 0.13 CRD
HDS-396 2,742 2,757 15 835.7 840.3 4.6 0.69 2.29 2.75 0.00 CRD
HDS-396 2,798 2,825 27 852.8 861.0 8.2 1.18 3.74 4.88 0.02 CRD
HDS-396 2,855 2,875 20 870.2 876.3 6.1 0.86 2.86 3.80 0.02 CRD
HDS-396 3,067 3,092 25 934.8 942.4 7.6 1.01 3.08 0.45 0.01 CRD
HDS-396 3,272 3,277 5 997.3 998.8 1.5 5.63 16.25 13.25 0.65 CRD
HDS-396 3,439 3,497 58 1,048.2 1,065.8 17.7 2.61 7.65 5.12 0.24 CRD
Drill intervals are down-the-hole drill width but are considered to be within 5 per cent of true width, excepting noted veins. It is not possible to determine the true width of the veins and no representation is made here regarding true width of the veins.
Qualified person
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 No. 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, Ariz. ALS Minerals Laboratories prepares a pulp of all samples and sends the pulps to its analytical laboratory in Vancouver, B.C., Canada for analysis. ALS analyzes the pulp sample by ICP following a four-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 parts per million 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-gram fire assay with an ICP-AES finish (Au-ICP21).
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