Arizona Mining CEO Jim Gowans commented, "As we prepare for the preliminary economic assessment, which is planned for the end of Q1 2017, the drilling continues to deliver excellent results for both the infill and expansion of the Taylor deposit. The drill results and advanced metallurgical program currently underway will underpin the study."
Table I. ASSAY SUMMARIES FOR HDS-353, HDS-382, HDS-386 AND HDS-387
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DH_ID From (feet) To (feet) Interval (in feet) From (meters) To (meters)
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HDS-353 3170 3202 32 966.2 975.9
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Including 3170 3187 17 966.2 971.4
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HDS-353 3551 3555 4 1082.3 1083.5
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HDS-353 3951 3956 5 1204.2 1205.7
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HDS-353 5220.5 5235 14.5 1591.1 1595.6
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HDS-382 1567 1654 87 477.6 504.1
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HDS-382 2437 2448.5 11.5 742.8 746.3
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HDS-382 2585 2590 5 787.9 789.4
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HDS-382 2747 2776 29 837.2 846.1
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Including 2766 2776 10 843.0 846.1
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HDS-382 2797 2812 15 852.5 857.1
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HDS-382 2927 3017 90 892.1 919.5
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Including 2957 2984 27 901.2 909.5
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HDS-382 3048.5 3059 10.5 929.1 932.3
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HDS-382 3177 3180 3 968.3 969.2
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HDS-386 1400 1405 5 426.7 428.2
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HDS-386 1654.5 1657 2.5 504.3 505.0
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HDS-386 3351 3354 3 1021.3 1022.2
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HDS-386 3676 3680 4 1120.4 1121.6
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HDS-386 3890 3917 27 1185.6 1193.8
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HDS-386 3947 3998 51 1203.0 1218.5
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HDS-387 902 913 11 274.9 278.3
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HDS-387 1470 1498 28 448.0 456.6
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HDS-387 2740 2751 11 835.1 838.5
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HDS-387 2772 2828 56 844.9 861.9
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HDS-387 2858 2890 32 871.1 880.8
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HDS-387 3145 3149 4 958.5 959.8
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HDS-387 3359.5 3472 112.5 1023.9 1058.2
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Including 3359.5 3401 41.5 1023.9 1036.6
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HDS-387 3497 3523 26 1065.8 1073.8
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DH_ID Interval (meters) Ag opt Pb% Zn% Cu% Ore Zone
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HDS-353 9.8 2.25 8.19 12.21 0.69 CRD
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Including 5.2 3.79 14.75 22.04 1.21 CRD
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HDS-353 1.2 4.99 7.04 5.04 0.35 CRD
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HDS-353 1.5 1.10 6.83 7.74 1.38 Vein
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HDS-353 4.4 1.22 0.37 2.58 1.86 CRD
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HDS-382 26.5 4.66 10.46 9.62 1.04 CRD
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HDS-382 3.5 1.65 4.44 5.26 0.07 CRD
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HDS-382 1.5 1.22 3.54 4.56 0.03 CRD
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HDS-382 8.8 0.93 3.03 1.41 0.01 CRD
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Including 3.0 2.26 7.35 3.30 0.02 CRD
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HDS-382 4.6 1.49 4.21 2.39 0.02 CRD
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HDS-382 27.4 0.94 2.07 1.06 0.01 CRD
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Including 8.2 2.02 4.12 1.41 0.02 CRD
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HDS-382 3.2 1.93 3.96 1.90 0.06 CRD
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HDS-382 0.9 3.59 5.06 8.57 0.78 CRD
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HDS-386 1.5 2.58 2.37 5.64 0.03 Vein
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HDS-386 0.8 26.54 26.76 4.84 0.63 Vein
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HDS-386 0.9 10.09 0.68 2.98 0.66 Vein
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HDS-386 1.2 4.90 6.19 2.48 0.12 Vein
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HDS-386 8.2 1.08 1.23 1.72 0.15 CRD
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HDS-386 15.5 3.88 3.00 0.60 0.00 CRD
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HDS-387 3.4 13.26 9.24 12.40 0.76 CRD
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HDS-387 8.5 2.21 1.12 2.70 0.17 CRD
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HDS-387 3.4 0.62 1.85 2.06 0.03 CRD
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HDS-387 17.1 2.73 8.24 8.92 0.04 CRD
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HDS-387 9.8 0.86 2.44 1.61 0.01 CRD
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HDS-387 1.2 8.87 11.00 2.70 0.23 Vein
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HDS-387 34.3 3.22 9.56 5.41 0.39 CRD
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Including 12.6 7.51 21.84 11.12 0.94 CRD
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HDS-387 7.9 1.42 4.02 3.29 0.31 CRD
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Drill intersections with a combined zinc and lead grade of greater than 9% are bolded. Drill intervals are down the hole drill width but are considered to be within 5% 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 #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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For additional information please contact:
Susan Muir
Vice-President, Investor Relations & Corporate Communications
Telephone: 416-505-7606
Email: smuir@arizonamining.com
