WorldWide Drilling Resource®

25 WorldWide Drilling Resource ® JULY 2020 Testing Estimates with Boreholes Adapted from Information by Arizona Metals Corp. Arizona Metals Corp. announced commencement of a fully-funded sur- face drilling program of more than 19,500 feet, at its Kay Mine VMS (vol- canogenic massive sulphide) project, in Yavapai County, Arizona. The company has engaged Boart Longyear Drilling Services to undertake the drill program and International Directional Services LLC to provide direc- tional drilling services. A review of the Kay Mine historic data was conducted last year, to re- fine the drill plan and identify additional potential targets prior to drilling. An LF90 track rig will be used to core to a maximum vertical depth of 3600 feet. The first drill phase will consist of 16 holes, ranging in length from 900-2100 feet, with the goal of testing the historic estimate defined by Exxon Minerals in 1982. The bulk of the historic estimate defined by Exxon lies between a depth of 490 feet and 1475 feet, and 12 of the 16 planned boreholes have been targeted to intersect this zone. The remaining four holes will test possible ex- tensions of the lenses from a depth of approximately 1475-1900 feet. The results of this program, along with additional future drilling, could be incorporated into a resource estimate. Exxon Minerals’ historic estimate has not been verified as a current mineral resource because none of the key assumptions, parameters, and methods used to prepare the estimate were reported, and no resource categories were used. Significant data compilation, redrilling, and data verification may be required by a qualified person before the historic estimate can be verified and upgraded to be compliant with current standards. Arizona Metals is not treating the estimate as a current mineral resource. The company plans to undertake additional drilling to test the potential extensions of the deposit both along strike and at depth. Exxon reported the deepest mineralized intersection was at a depth of about 2900 feet. Exxon also estimated only one quarter of the strike had been tested, based on geophysical surveys and mapping of the mineralized horizon at surface. A helicopter geophysical survey by Geotech Ltd. was conducted for Arizona Metals last year. They identified two large, near-surface, untested anomalies, the Central Conductor and Western Conductor, at about 1600 feet and 3200 feet respec- tively, directly west of the Kay deposit. The company is working on a drill permit application for these two targets, with drilling anticipated to also commence this year. MIN