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TORONTO - Arizona Gold Corp. [AZG-TSX; AGAUF-OTCQB], formerly Kerr Mines Inc., has released additional underground drilling results at its 100%-owned, fully permitted, Copperstone gold project in LaPaz County, Western Arizona.
Giulio Bonifacio, CEO, stated: "We are pleased to announce additional drill results from the current underground core drilling program, which continues to demonstrate continuity and extension of several mineralized domains as previously defined. The drilling has shown grades and thicknesses comparable or better to the current resource model with additional assay results pending. Reverse circulation infill drilling will commence in May with close-spaced infill drilling of stopes, which will lead to final stope mine design."
Drill hole AZG-21-P3C-06C intersected 10.8 metres at 8.2 g/t gold, including 0.7 metres at 49.1 g/t gold. Drill hole AZG 21-P3A-02C returned 2.3 metres at 10.6 g/t gold, including 0.8 metres at 19.0 g/t gold.
The underground core hole drilling is complete, having successfully tested the continuity of mineralization in various previously defined mineral domains and previously planned stopes. The core drilling was done in the C and D zones. Infill drilling has commenced with assay results pending. Preliminary indications confirm mineralization as previously modelled while demonstrating continuity and extension of currently defined mineralized domains. Reverse circulation infill drilling of the stopes is expected to commence in May with close-spaced drilling, which will provide detailed information for purposes of stope mining design.
Underground core drilling returned 2.4 metres of 4.5 g/t gold, including 1.4 metres of 6.3 g/t gold in hole AZG-21-33.31. Hole AZG-21-P3A-02C returned 2.3 metres of 10.6 g/t gold, including 0.8 metres of 19.0 g/t gold. Hole AZG-21-P3C-06C returned 10.8 metres of 8.2 g/t gold, including 0.7 metres of 49.1 g/t gold and 0.9 metres of 27.9 g/t gold.
The Copperstone mine project demonstrates significant upside exploration potential that has yet to be drilled within a 50-km2 (12,258 acres) land package that includes past production of over 500,000 ounces of gold by way of an open-pit operation.
The company's current focus is on maximizing Copperstone's potential by defining and expanding current resources and further optimizing the mine's economics for purposes of the restart of gold production as a result of the recent project funding transaction with Star Royalties Ltd. totalling US$18 million.