AZ-T
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
VANCOUVER, BC--(Marketwired - January 12, 2017) - Arizona Mining Inc. (TSX: AZ) ("Arizona Mining" or the "Company") is pleased to announce the results of five (5) 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 latest program to forty-six (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 eleven (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% zinc, 6.9% lead and 2.5 ounces per ton ("opt") 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% zinc, 14.6% lead and 5.6 opt silver.
The results of the remaining 4 holes (HDS-379, HDS-381, HDS-385 and HDS-391) are provided in the table below.
CEO Jim Gowans commented: "HDS-396 is one of the best holes I have seen in my career."
Arizona Mining also wishes to announce that it 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 by-products and secondary materials, have advised, that in their 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, we have been advised by Ocean that they are prepared to enter into a MOU 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.
Table I. ASSAY SUMMARIES FOR HDS-379, HDS-381, HDS-385, HDS-391 AND HDS-396
| DH_ID | | From (feet) | | To (feet) | | Interval (in feet) | | From (meters) | | To (meters) | | Interval (meters) | | Ag opt | | Pb% | Zn% | | Cu% | | Ore 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 | | 1750 | | 1762 | | 12 | | 533.4 | | 537.0 | | 3.7 | | 6.82 | | 1.42 | 2.48 | | 0.34 | | Vein | | HDS-379 | | 1797 | | 1823 | | 26 | | 547.7 | | 555.6 | | 7.9 | | 4.44 | | 5.19 | 1.71 | | 0.19 | | Vein | | HDS-379 | | 2397 | | 2402 | | 5 | | 730.6 | | 732.1 | | 1.5 | | 4.29 | | 1.12 | 0.96 | | 0.19 | | Vein | | HDS-379 | | 3235.5 | | 3238 | | 2.5 | | 986.1 | | 986.9 | | 0.8 | | 3.41 | | 7.46 | 0.39 | | 1.29 | | Vein | | HDS-379 | | 3549.5 | | 3577 | | 27.5 | | 1081.8 | | 1090.2 | | 8.4 | | 2.97 | | 8.85 | 0.90 | | 0.07 | | CRD | | HDS-379 | | 4562 | | 4582 | | 20 | | 1390.4 | | 1396.5 | | 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 | | 1580 | | 1600 | | 20 | | 481.6 | | 487.7 | | 6.1 | | 0.80 | | 1.40 | 1.98 | | 0.12 | | Vein | | HDS-381 | | 3530 | | 3551 | | 21 | | 1075.9 | | 1082.3 | | 6.4 | | 2.97 | | 1.74 | 0.30 | | 0.09 | | Vein | | HDS-381 | | 3690 | | 3753 | | 63 | | 1124.7 | | 1143.9 | | 19.2 | | 2.16 | | 2.52 | 1.29 | | 0.10 | | CRD | | HDS-381 | | 3921 | | 3941 | | 20 | | 1195.1 | | 1201.2 | | 6.1 | | 0.80 | | 2.10 | 2.48 | | 0.50 | | CRD | | | | | | | | | | | | | | | | | | | | | | | | | HDS-385 | | 3835.5 | | 3837.5 | | 2 | | 1169.0 | | 1169.6 | | 0.6 | | 25.93 | | 9.04 | 3.89 | | 1.31 | | Vein | | HDS-385 | | 3947 | | 4015 | | 68 | | 1203.0 | | 1223.7 | | 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 | | 1445 | | 1455 | | 10 | | 440.4 | | 443.5 | | 3.0 | | 3.57 | | 1.69 | 3.05 | | 0.22 | | Vein | | HDS-391 | | 1575 | | 1590 | | 15 | | 480.0 | | 484.6 | | 4.6 | | 5.54 | | 4.08 | 0.63 | | 0.09 | | Vein | | HDS-391 | | 2098.5 | | 2101.5 | | 3 | | 639.6 | | 640.5 | | 0.9 | | 9.86 | | 12.90 | 16.60 | | 0.14 | | Vein | | HDS-391 | | 3676 | | 3679 | | 3 | | 1120.4 | | 1121.3 | | 0.9 | | 3.09 | | 6.26 | 4.73 | | 0.09 | | Vein | | HDS-391 | | 3732 | | 3765 | | 33 | | 1137.5 | | 1147.5 | | 10.1 | | 3.20 | | 1.31 | 1.95 | | 0.39 | | Vein | | HDS-391 | | 4080 | | 4090 | | 10 | | 1243.5 | | 1246.6 | | 3.0 | | 2.75 | | 3.02 | 0.54 | | 0.04 | | CRD | | HDS-391 | | 4110 | | 4130 | | 20 | | 1252.7 | | 1258.8 | | 6.1 | | 1.38 | | 1.55 | 1.34 | | 0.23 | | CRD | | HDS-391 | | 4260 | | 4270 | | 10 | | 1298.4 | | 1301.4 | | 3.0 | | 1.45 | | 2.65 | 8.10 | | 0.14 | | CRD | | | | | | | | | | | | | | | | | | | | | | | | | HDS-396 | | 1018 | | 1031 | | 13 | | 310.3 | | 314.2 | | 4.0 | | 8.68 | | 6.33 | 6.67 | | 0.97 | | Vein | | HDS-396 | | 1047 | | 1059 | | 12 | | 319.1 | | 322.8 | | 3.7 | | 5.68 | | 9.21 | 17.43 | | 0.04 | | Vein | | HDS-396 | | 1343 | | 1349 | | 6 | | 409.3 | | 411.2 | | 1.8 | | 1.91 | | 3.68 | 5.97 | | 0.05 | | CRD | | HDS-396 | | 1502 | | 1512 | | 10 | | 457.8 | | 460.8 | | 3.0 | | 1.26 | | 2.66 | 2.76 | | 0.03 | | CRD | | HDS-396 | | 1779 | | 2303 | | 524 | | 542.2 | | 701.9 | | 159.7 | | 2.53 | | 6.87 | 8.47 | | 0.40 | | CRD | | Including | | 1779 | | 1810 | | 31 | | 542.2 | | 551.7 | | 9.4 | | 5.46 | | 18.27 | 11.96 | | 4.90 | | CRD | | Including | | 1957 | | 1972 | | 15 | | 596.5 | | 601.0 | | 4.6 | | 2.73 | | 9.13 | 12.00 | | 0.52 | | CRD | | Including | | 2032 | | 2062 | | 30 | | 619.3 | | 628.5 | | 9.1 | | 2.91 | | 8.98 | 12.00 | | 0.23 | | CRD | | Including | | 2141 | | 2245 | | 104 | | 652.5 | | 684.2 | | 31.7 | | 5.58 | | 14.61 | 22.14 | | 0.18 | | CRD | | HDS-396 | | 2335 | | 2392 | | 57 | | 711.7 | | 729.0 | | 17.4 | | 0.81 | | 2.59 | 1.62 | | 0.02 | | CRD | | HDS-396 | | 2517 | | 2717 | | 200 | | 767.1 | | 828.1 | | 61.0 | | 1.25 | | 4.18 | 5.42 | | 0.04 | | CRD | | Including | | 2624 | | 2644 | | 20 | | 799.8 | | 805.9 | | 6.1 | | 2.90 | | 9.82 | 13.70 | | 0.13 | | CRD | | HDS-396 | | 2742 | | 2757 | | 15 | | 835.7 | | 840.3 | | 4.6 | | 0.69 | | 2.29 | 2.75 | | 0.00 | | CRD | | HDS-396 | | 2798 | | 2825 | | 27 | | 852.8 | | 861.0 | | 8.2 | | 1.18 | | 3.74 | 4.88 | | 0.02 | | CRD | | HDS-396 | | 2855 | | 2875 | | 20 | | 870.2 | | 876.3 | | 6.1 | | 0.86 | | 2.86 | 3.80 | | 0.02 | | CRD | | HDS-396 | | 3067 | | 3092 | | 25 | | 934.8 | | 942.4 | | 7.6 | | 1.01 | | 3.08 | 0.45 | | 0.01 | | CRD | | HDS-396 | | 3272 | | 3277 | | 5 | | 997.3 | | 998.8 | | 1.5 | | 5.63 | | 16.25 | 13.25 | | 0.65 | | CRD | | HDS-396 | | 3439 | | 3497 | | 58 | | 1048.2 | | 1065.8 | | 17.7 | | 2.61 | | 7.65 | 5.12 | | 0.24 | | CRD |
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.
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