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(www.investorideas.com
Newswire) a go-to platform for big investing ideas, including gold and
silver stocks, issues a news and trading alert for
Arizona Eagle Mining Corp.
(TSXV: AZEM).
The stock is trading up this morning, currently at $1.40 as gold
prices rise and the company issues drill results.
Arizona Eagle is a mineral exploration company focused on the
acquisition, exploration, and development of mineral properties.
Arizona Eagle’s principal asset is the Eagle Project, a 4,169-acre
property comprised of patented and unpatented claims located near
the town of Prescott Valley in Yavapai County, Arizona. The Eagle
Project is centered on the past-producing McCabe Mine, a high-grade
gold-silver deposit, and includes multiple parallel structures
hosting past-producing mines that remain largely untested by modern
drilling. While Arizona Eagle’s primary focus will be on the
exploration and development of the Eagle Project, it will continue
to own Core Nickel’s land portfolio in the Thompson Nickel Belt of
northern Manitoba.
Arizona Eagle announced initial results from the first three holes
of its fully funded Phase 1 drill program (the “Phase 1 Drill
Program”) on the highly prospective Eagle Project, located in the
historic and prolific McCabe gold-silver district in Arizona. The
Phase 1 Drill Program’s objective is to target multiple
northeasterly-striking, steeply dipping sulfide-bearing quartz veins
that may extend beyond the Historic Resource of approximately
880,000 ounces of gold at 11.7 g/t at McCabe (the “Historic
Resource”). These initial drill holes targeted the potential to the
northeast outside of the Historic Resource and have successfully
confirmed the presence of significant, high-grade mineralization
that remains open for expansion, extending the mineralized strike by
about 50 meters beyond the approximate 750-meter strike of the
Historic Resource.
Kevin Reid, Chief Executive Officer of Arizona Eagle,
commented:
“These initial results are an excellent start to the Phase 1 drill
program, validating our belief that significant high-grade gold
and silver mineralization remains open beyond the historic
resource. With the system open along strike and our drilling now
stepping out toward our previously announced, soon-to-be-acquired
Eagle Silver Project, we are excited about the district-scale
potential we are unlocking. Our second hole successfully tested
the northeast extension beyond an interpreted fault offset where
historic mining and underground exploration stopped. This shows
the potential to continue to expand the historic resource toward
the northeast.”
“As the Phase 1 drill program is actively underway, the company
looks forward to sharing additional results as they become
available. This is an exciting time for the company and its
shareholders as we work to unlock the full potential of this
promising gold-silver project in one of Arizona’s most prolific
historic districts.”
Highlights from the first three drill holes:
-
Eagle 26-01 (angled hole drilled to 536 meters) intersected four
separate sulfide-bearing quartz veins between 355.7 and 447.6
meters in a previously unmined area. These veins reached up to 1.5
meters in width and returned assays as high as 5.09 g/t Au and
16.35 g/t Ag, demonstrating that substantial gold and silver
mineralization still exists within and around the historic
workings. Arizona Eagle is planning future drill holes to test for
extensions of mineralization beyond the historic mining in this
area. -
Eagle 26-02 (angled hole drilled to 468 meters) successfully
tested the northeast extension beyond an interpreted fault offset
where historic mining stopped. This hole intersected a robust
4.2-meter-wide sulfide-rich quartz vein (pyrite, chalcopyrite,
sphalerite, and arsenopyrite) assaying 5.73 g/t Au and 5.90 g/t
Ag, including a higher-grade section of 0.8 meters at 11.35 g/t Au
and 11.15 g/t Ag. -
Eagle 26-02A (a short branch hole) extended the zone an additional
10 meters to the northeast, intersecting a 1.7-meter-wide
sulfide-bearing quartz vein that returned 1.16 g/t Au and 7.35 g/t
Ag.
These positive intercepts are very encouraging as they confirm that
the McCabe gold-silver zone continues well beyond the historic
mining limit and remains open to the northeast, presenting excellent
potential for further expansion. Holes 3, 4, 5, and 6 were drilled
to test the northeast extension toward the Eagle Silver Project,
located approximately one kilometer to the northeast on the same
structural corridor. Assays for these holes are pending. Hole 7,
approximately 400 meters southwest of the McCabe Historic Resource,
is designed to test extensions along strike to the southwest.
Full News
About Arizona Copper and Gold Ltd.
Arizona Eagle is a mineral exploration company focused on the
acquisition, exploration, and development of mineral properties.
Arizona Eagle’s principal asset is the Eagle Project, a 4,169-acre
property comprised of patented and unpatented claims located near the
town of Prescott Valley in Yavapai County, Arizona. The Eagle Project
is centred on the past-producing McCabe Mine, a high-grade gold-silver
deposit, and includes multiple parallel structures hosting
past-producing mines that remain largely untested by modern drilling.
While Arizona Eagle’s primary focus will be on the exploration and
development of the Eagle Project, it will continue to own Core
Nickel’s land portfolio in the Thompson Nickel Belt of northern
Manitoba.
The scientific and technical information contained in this news
release has been reviewed and approved by Clyde Smith, PhD,
Vice-President, Exploration of the Company, who is a Qualified Person
as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Further Information
For further information on Arizona Eagle, please contact:
Arizona Copper and Gold Ltd.
Kevin Reid
Chief Executive Officer and Director
Email:
kreid@arizonaeaglemining.com
Also find Arizona Copper and Gold online:
https://www.arizonaeaglemining.com/
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Watch the video: Historic High-Grade Gold Revival: Arizona Eagle Commences
Drilling at McCabe Mine
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