\nArizona Metals Corp. (TSX.V:AMC, OTCQB:AZMCF) (the \u201cCompany\u201d or \u201cArizona Metals\u201d) announces drill results of the final three drill holes of the 1,748 m Phase 1 drill program at its Sugarloaf Peak Project in La Paz County, Arizona.\n<\/p>\n
This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20201119005345\/en\/<\/a><\/p>\n Figure 1. Sugarloaf Peak plan view showing results of recently completed Phase 1 drill program (Graphic: Business Wire)<\/p>\n<\/div>\n \nA total of four holes were drilled primarily to provide core for metallurgical testing, to test geophysical targets at depth, and also to provide infill data towards incorporation into an NI 43-101 resource estimate.\n<\/p>\n \nDrill hole SP-20-02 intersected 119.8 m of 0.34 g\/t gold from surface, including 21.6 m of 0.44 g\/t gold, and 34.8 m of 0.41 g\/t gold.\n<\/p>\n \nDrill hole SP-20-03 was extended to a depth of 547 m to test a geophysical anomaly starting at a depth of approximately 270 m. This hole encountered low grade mineralization from 11.3 m to 178 m (166.7 m of 0.12 g\/t gold), but did not encounter significant mineralization at depth.\n<\/p>\n \nDrill hole SP-20-04 intersected 122.4 m of 0.31 g\/t gold from a depth of 3.1 m, including 18.7 m of 0.43 g\/t gold and 17.9 m of 0.47 g\/t gold. This interval was a part of larger mineralized halo, starting at a depth of 3.1 m and extending to 396.5 m, for a total of 393.5 m of 0.22 g\/t gold.\n<\/p>\n \nAs previously reported, drill hole SP-20-01 intersected 137 m of 0.53 g\/t gold from surface, including, 99 m of 0.62 g\/t gold, and 30 m of 0.90 g\/t gold. From 179.7 m to the end of the hole at 218.5 m, the same hole also intersected 38.8 m of 0.32 g\/t gold (Table 1). The hole ended in anomalous gold, and intersected gold mineralization approximately 45 m below holes drilled by previous operators in 1990 (Cominco) and 2011 (Choice Gold).\n<\/p>\n Table 1. Sugarloaf Phase 1 drill program results<\/b><\/p>\n<\/td>\n<\/tr>\n Hole ID<\/b><\/p>\n<\/td>\n From m<\/b><\/p>\n<\/td>\n To m<\/b><\/p>\n<\/td>\n Length m<\/b><\/p>\n<\/td>\n Au g\/t<\/b><\/p>\n<\/td>\n<\/tr>\n \n0.0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n137.6\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n137.6\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.53\n<\/p>\n<\/td>\n<\/tr>\n \n0.0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n98.8\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n98.8\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.62\n<\/p>\n<\/td>\n<\/tr>\n \n43.5\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n73.5\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n29.9\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.90\n<\/p>\n<\/td>\n<\/tr>\n \nand\n<\/p>\n<\/td>\n \n179.7\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n218.5\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n38.8\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.32\n<\/p>\n<\/td>\n<\/tr>\n \n0.0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n119.8\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n119.8\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.34\n<\/p>\n<\/td>\n<\/tr>\n \n6.7\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n23.5\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n16.8\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.39\n<\/p>\n<\/td>\n<\/tr>\n \n29.4\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n51.1\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n21.6\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.44\n<\/p>\n<\/td>\n<\/tr>\n \n65.5\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n79.2\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n13.7\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.37\n<\/p>\n<\/td>\n<\/tr>\n \n85.0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n119.8\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n34.8\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.41\n<\/p>\n<\/td>\n<\/tr>\n \n11.3\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n178.0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n166.7\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.12\n<\/p>\n<\/td>\n<\/tr>\n \n3.1\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n396.5\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n393.5\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.22\n<\/p>\n<\/td>\n<\/tr>\n \n3.1\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n125.4\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n122.4\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.31\n<\/p>\n<\/td>\n<\/tr>\n \n42.4\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n61.1\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n18.7\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.43\n<\/p>\n<\/td>\n<\/tr>\n \n78.5\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n96.4\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n17.9\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.47\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nDetailed hydrothermal alteration analyses have been completed on all four holes, and representative samples will undergo metallurgical testing at Kappes Cassiday\u2019s facilities in Reno, Nevada. Results of the metallurgical testing are expected in 1Q\u201921.\n<\/p>\n \nMarc Pais, CEO, commented \u201cAs expected, drill holes SLP-20-01, -02, and -04, intersected grades and widths of mineralization similar to those reported in the historic estimate. We will incorporate the upcoming metallurgical test results into the design of a drill program for expansion of the near-surface oxide material. Holes SLP-20-03 and -04 were extended to depths of 457 m and 549 m, respectively, in order to test geophysical anomalies at depth. While these holes did not intersect significant high-grade gold mineralization at depth, both encountered widespread faulting and shearing, with alteration typical of greenstone hosted quartz-carbonate systems. Hole SLP-20-04 intersected a 394 m interval of low-grade gold mineralization from surface, which we believe demonstrates that the surface oxide mineralization is the surface expression of a potentially much larger system at depth.\u201d\n<\/p>\n Table 2. Sugarloaf completed drill hole locations and orientations<\/b><\/p>\n<\/td>\n<\/tr>\n Hole ID<\/b><\/p>\n<\/td>\n East NAD83<\/b><\/p>\n<\/td>\n North NAD 83<\/b><\/p>\n<\/td>\n Elev m<\/b><\/p>\n<\/td>\n Az<\/b><\/p>\n<\/td>\n Dip<\/b><\/p>\n<\/td>\n Depth m<\/b><\/p>\n<\/td>\n<\/tr>\n \nSP-20-01\n<\/p>\n<\/td>\n \n747630\n<\/p>\n<\/td>\n \n3725020\n<\/p>\n<\/td>\n \n387\n<\/p>\n<\/td>\n \n180\n<\/p>\n<\/td>\n \n-45\n<\/p>\n<\/td>\n \n227\n<\/p>\n<\/td>\n<\/tr>\n \nSP-20-02\n<\/p>\n<\/td>\n \n747680\n<\/p>\n<\/td>\n \n3725022\n<\/p>\n<\/td>\n \n388\n<\/p>\n<\/td>\n \n0\n<\/p>\n<\/td>\n \n-70\n<\/p>\n<\/td>\n \n369\n<\/p>\n<\/td>\n<\/tr>\n \nSP-20-03\n<\/p>\n<\/td>\n \n747880\n<\/p>\n<\/td>\n \n3725300\n<\/p>\n<\/td>\n \n375\n<\/p>\n<\/td>\n \n0\n<\/p>\n<\/td>\n \n-90\n<\/p>\n<\/td>\n \n572\n<\/p>\n<\/td>\n<\/tr>\n \nSP-20-04\n<\/p>\n<\/td>\n \n747600\n<\/p>\n<\/td>\n \n3724920\n<\/p>\n<\/td>\n \n388\n<\/p>\n<\/td>\n \n54\n<\/p>\n<\/td>\n \n-57\n<\/p>\n<\/td>\n \n581\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Sugarloaf Peak Highlights<\/b><\/p>\n Kay Mine Project, Arizona Update<\/b><\/p>\n \nA total of 20 drill holes have been completed at the Kay Mine. A downhole electromagnetic survey was also completed in September 2020 and results are pending. Permitting is currently underway for a Phase 2 drill program at the Kay Mine of 11,000m in 29 diamond drill holes.\n<\/p>\n About Arizona Metals Corp<\/b><\/p>\n \nArizona Metals Corp owns 100% of the Kay Mine Property in Yavapai County, which is located on a combination of patented and BLM claims totaling 1,300 acres that are not subject to any royalties. An historic estimate by Exxon Minerals in 1982 reported a \u201cproven and probable reserve of 6.4 million short tons at a grade of 2.2% copper, 2.8 g\/t gold, 3.03% zinc, and 55 g\/t silver.\u201d The historic estimate at the Kay Mine was reported by Exxon Minerals in 1982. The historic estimate has not been verified as a current mineral resource. None of the key assumptions, parameters, and methods used to prepare the historic estimate were reported, and no resource categories were used. Significant data compilation, re-drilling and data verification may be required by a Qualified Person before the historic estimate can be verified and upgraded to be a current mineral resource. A Qualified Person has not done sufficient work to classify it as a current mineral resource, and Arizona Metals is not treating the historic estimate as a current mineral resource.\n<\/p>\n \nThe Kay Mine is a steeply dipping VMS deposit that has been defined from a depth of 60 m to at least 900 m. It is open for expansion on strike and at depth.\n<\/p>\n \nThe Company also owns 100% of the Sugarloaf Peak Property, in La Paz County, which is located on 4,400 acres of BLM claims. Sugarloaf is a heap-leach, open-pit target and has a historic estimate of \u201c100 million tons containing 1.5 million ounces gold\u201d at a grade of 0.5 g\/t (Dausinger, 1983, Westworld Resources).\n<\/p>\n \n*The historic estimate at the Sugarloaf Peak Property was reported by Westworld Resources in 1983. The historic estimate has not been verified as a current mineral resource. None of the key assumptions, parameters, and methods used to prepare the historic estimate were reported, and no resource categories were used. Significant data compilation, re-drilling and data verification may be required by a Qualified Person before the historic estimate can be verified and upgraded to a current mineral resource. A Qualified Person has not done sufficient work to classify it as a current mineral resource, and Arizona Metals is not treating the historic estimate as a current mineral resource.\n<\/p>\n \nThe Qualified Person who reviewed and approved the technical disclosure in this release is David Smith, CPG.\n<\/p>\n Quality Assurance\/Quality Control<\/b><\/p>\n \nAll of Arizona Metals\u2019 drill sample assay results have been independently monitored through a quality assurance\/quality control (\u201cQA\/QC\u201d) protocol which includes the insertion of blind standard reference materials and blanks at regular intervals. Logging and sampling were completed at Arizona Metals\u2019 core handling facilities located in Quartzite, Arizona. Drill core was diamond sawn on site and half drill-core samples were securely transported to ALS Laboratories\u2019 (\u201cALS\u201d) sample preparation facility in Tucson, Arizona. Sample pulps were sent to ALS\u2019s labs in Vancouver, Canada, for analysis.\n<\/p>\n \nGold content was determined by fire assay of a 30-gram charge with ICP finish (ALS method Au-AA23). Silver and 47 other elements were analyzed by ICP methods with four-acid digestion (ALS method ME-MS61). ALS Laboratories is independent of Arizona Metals Corp. and its Vancouver facility is ISO 17025 accredited. ALS also performed its own internal QA\/QC procedures to assure the accuracy and integrity of results. Parameters for ALS\u2019 internal and Arizona Metals\u2019 external blind quality control samples were acceptable for the samples analyzed. Arizona Metals is not aware of any drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data referred to herein.\n<\/p>\n This press release contains statements that constitute \u201cforward-looking information\u201d (collectively, \u201cforward-looking statements\u201d) within the meaning of the applicable Canadian securities legislation, All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as \u201cexpects\u201d, or \u201cdoes not expect\u201d, \u201cis expected\u201d, \u201canticipates\u201d or \u201cdoes not anticipate\u201d, \u201cplans\u201d, \u201cbudget\u201d, \u201cscheduled\u201d, \u201cforecasts\u201d, \u201cestimates\u201d, \u201cbelieves\u201d or \u201cintends\u201d or variations of such words and phrases or stating that certain actions, events or results \u201cmay\u201d or \u201ccould\u201d, \u201cwould\u201d, \u201cmight\u201d or \u201cwill\u201d be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements contained in this press release include, without limitation, statements regarding the resumption of drilling and the effects of the COVID-19 pandemic on the business and operations of the Company. In making the forward- looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: availability of financing; delay or failure to receive required permits or regulatory approvals; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward- looking statements or otherwise.<\/i><\/p>\n NEITHER THE TSX VENTURE EXCHANGE (NOR ITS REGULATORY SERVICE PROVIDER) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE<\/i><\/p>\n Not for distribution to US newswire services or for release, publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States<\/b><\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201119005345\/en\/<\/a><\/span><\/p>\n \nMarc Pais KEYWORDS:<\/b> Arizona United States North America Canada<\/p>\n INDUSTRY KEYWORDS:<\/b> Natural Resources Other Natural Resources Mining\/Minerals<\/p>\n![\"Figure](\"https:\/\/mms.businesswire.com\/media\/20201119005345\/en\/840230\/4\/Sugarloaf_Press_Release_Fig_1_for_PR.jpg\")
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\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n SP-20-01<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n including<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n including<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n SP-20-02<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n including<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n including<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n including<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n including<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n SP-20-03<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n SP-20-04<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n including<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n including<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n including<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n
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<\/p>\n
\n
President and CEO Arizona Metals Corp.
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(416) 565-7689
\n
mpais@arizonametalscorp.com
\n<\/a>
www.arizonametalscorp.com
\n<\/a>
https:\/\/twitter.com\/ArizonaCorp<\/a><\/p>\n
![\"Photo\"](\"https:\/\/mms.businesswire.com\/media\/20201119005345\/en\/840229\/3\/Sugarloaf_drill_results_plan_view_Nov_figure_2_for_PR.jpg\")
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