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(www.investorideas.com
Newswire) a leading investing platform for mining stocks, reports on
breaking stock news for Arizona Eagle Mining Corp.
(TSXV: AZEM).
Arizona Eagle Mining Corp. (TSXV: AZEM) announced that it has
entered into agreements to acquire 62 acres of patented land that
hosts three past-producing high-grade silver mines: the Arizona
National Mine, the Lookout Mine, and the Silver Belt Mine (the
“Silver Parcels”). These parcels are located on strike with, and
approximately one kilometer northeast of, the company’s McCabe
gold-silver deposit, where Phase 1 drilling is currently underway.
Kevin Reid, Chief Executive Officer of Arizona Eagle, commented:
“We are pleased to announce the strategic acquisition of three
past-producing high-grade silver mines, consolidating the Eagle
Silver Project, which is located only one kilometer northeast of
the gold and silver McCabe Mine. These high-grade silver mines
served as major sources of silver production in Arizona until the
1930s. Mining operations at that time were limited to relatively
shallow oxidized depths, with the deepest shaft reaching only 150
meters, allowing for the opportunity for further discoveries at
depth. These mines have been privately held by multiple parties
and dormant for almost 100 years. Our recent surface sampling on
the Eagle Silver property has returned grades up to 344 g/t
silver, with sampling of the Arizona National Mine waste pile
returning grades of up to 861 g/t silver and 15.6 g/t gold.
“Applying the same strategy we are employing at the McCabe
gold-silver deposit, we see the opportunity to revive these mines
through the application of modern exploration methods and
systematic drilling, and we firmly believe that the Eagle Project
offers exceptional discovery potential in one of Arizona’s most
prolific historic gold-silver districts. These acquisitions extend
the structural corridor of mineralization northeast of McCabe by
50%, from 3 km to 4.5 km, and will also increase our patented land
ownership by 18%, from 348 to 410 acres. Our Phase 1 drill
program, focused on the McCabe Mine structure but outside the
historic resource estimate, is currently underway and is fully
funded. We look forward to delivering results as we advance these
highly prospective projects.”
The Silver Parcels cover a mineralized structure striking
approximately 1.5 kilometers. Surface sampling on these claims by
Arizona Eagle (previously reported on February 19, 2025) has returned silver grades including 344 g/t, 255 g/t, 234 g/t,
as well as 2.4 g/t gold. Recent testing of the tailings dumps in the
first quarter of 2026 adjacent to the Arizona National Mine shaft
included a sample that returned a grade of 861 g/t silver, 2.9%
zinc, 1.7% lead, and 0.2 g/t gold. A second sample returned 518 g/t
silver with 1.3% zinc. A third sample returned 15.6 g/t gold, 297
g/t silver, and 1.5% zinc (see Table 1 below for waste pile
samples).
Arizona Eagle has entered into agreements with the owners of the
Silver Parcels to acquire five parcels totaling 62 acres of patented
land. Closing of the acquisitions is expected between June 19 and
June 30, 2026, subject to completion of due diligence by the
company.
Eagle Silver Zone displaying Arizona National, Lookout, and Silver
Belt Mines
Figure 2. Select surface sampling results completed by Arizona
Eagle on Eagle Silver Project
Figure 3. Long section showing drill targets at Eagle Gold Zone (3
km of strike), with Eagle Silver Zone extending to NE (1.5 km of
strike)
Arizona National Mine
The Arizona National
Mine is comprised of three shafts and seven levels to a depth of 500
feet (150 meters). The deposit was mined intermittently between 1915
and 1931 and reported shipments of silver-lead ore and concentrates
(Anderson, 1958).
Figure 4. Long section of the Arizona National Mine showing 7
levels to 500 feet deep
Recent sampling conducted in February 2026 of the Arizona National
Mine waste pile undertaken by the company returned numerous samples
of high-grade silver, gold, and zinc (see Table 1 below).
Table 1: Arizona National Mine Waste Pile Sample Results
Sample
Silver
(g/t)
Gold
(g/t)
Lead
(%)
Zinc
(%)
SS01
0.05
<0.005
0.00054
0.0015
SS02
207
0.138
0.133
0.326
SS03
861
0.156
1.67
2.88
SS04
2.71
0.017
0.0143
0.0237
SS05
518
0.052
0.65
1.26
SS06
3.14
0.005
0.00401
0.0083
SS07
5.97
0.008
0.0081
0.0099
SS08
32.3
0.036
0.359
1.07
SS09
297
15.55
1.48
0.337
SS10
11.4
0.03
0.0222
0.0309
SS11
1.17
0.018
0.00502
0.0114
SS12
26.7
0.006
0.01265
1.955
SS13
0.44
<0.005
0.0012
0.006
SS14
0.35
<0.005
0.0011
0.012
SS15
51.4
0.067
0.132
0.565
SS16
0.19
<0.005
0.00074
0.0058
SS17
67.3
0.018
0.125
0.303
Lookout Mine
This Lookout Mine is located on
the Silver Belt vein, about 1,000 feet southwest of the Arizona
National Mine. The mine was last in operation from 1948 to 1949, and
production was reported to consist chiefly of galena (lead sulfide),
sphalerite (zinc sulfide), and gold (Anderson, 1958).
Silver Belt Mine
The Silver Belt Mine was
discovered in the 1880s and was mined until the 1930s. The mine
includes four shafts and at least four underground levels. This
deposit was mined to a depth of only 250 feet (80 meters), with
grades reported up to 20 ounces per ton of silver (600 g/t), with 3%
lead, 4% zinc, and minor gold (Anderson, 19581).
Figure 5. Long section of Silver Belt Mine, which ended production
in 1949
Figure 6. 1890 photograph of the Silver Belt Mine which operated
until the 1930s
Eagle Project Overview
Arizona Eagle holds a
100% interest in the Eagle Project, located in Yavapai County,
Arizona. The Eagle Project is anchored by the past-producing gold
and silver McCabe Mine, situated on 348 acres of private land. Stan
West Mining historically invested more than US$35 million
(approximately C$110 million in today’s dollars) to drill and
develop the mine. In 1984, Stan West Mining published a historic
estimate of approximately 878,000 ounces of gold grading 11.7 g/t
and 5 million ounces of silver grading 69 g/t,2 defined to a
maximum depth of approximately 440 meters and open in all
directions.
Over the past two years, Arizona Eagle has expanded its total land
position to 4,169 acres through staking and acquisitions surrounding
the McCabe Mine. During this time, the company completed exploration
programs focused on geological mapping, surface sampling,
helicopter-borne VTEM surveys, and ground-based induced polarization
surveys that identified multiple parallel mineralized structures
that have not been historically drill tested.
Phase 1 Drill Program
In the first quarter of
2026, the Company initiated a fully-funded Phase 1 drill program
totaling approximately 4,500 metres. The drill program is designed
in part to explore the lateral and vertical continuity of the McCabe
veins in and around the historic resource. The drill program is
expected to conclude in June 2026. Core samples from the initial
drill holes have been submitted for laboratory analysis, with assay
results pending. A second core drill rig is scheduled to mobilize to
the Eagle Project in July 2026 for further drilling of both the
McCabe Mine and Eagle Silver Project.
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/
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking statements and
forward-looking information (collectively, “forward-looking
statements”) within the meaning of applicable securities laws. Any
statements that are contained in this news release that are not
statements of historical fact may be deemed to be forward-looking
statements. Forward-looking statements are often identified by terms
such as “may”, “should”, “anticipate”, “will”, “estimates”,
“believes”, “intends”, “expects” and similar expressions which are
intended to identify forward-looking statements. More particularly
and without limitation, this news release contains forward-looking
statements, including statements concerning the proposed acquisition
of the Silver Parcels and the expected closing thereof, the
consolidation of the Eagle Silver Project, the Company’s exploration
activities and drill program at the Eagle Project, the expected
timing and receipt of assay results, the mobilization of additional
drill rigs, and the potential expansion of the historic estimate.
Forward-looking statements are inherently uncertain, and the actual
performance may be affected by a number of material factors,
assumptions and expectations, many of which are beyond the control
of the Company, including expectations and assumptions concerning
the Company’s ability to complete the acquisition of the Silver
Parcels on the proposed terms or at all, including the completion of
satisfactory due diligence, the timely receipt of all required
regulatory approvals, including the approval of the TSXV, the
Company’s ability to obtain clear title to the Silver Parcels, the
ability of the Company to execute on the proposed exploration
program at the Eagle Project, commodity price fluctuations, the
availability of financing on acceptable terms, environmental and
permitting risks, and risks inherent in mineral exploration and
development. Readers are cautioned that assumptions used in the
preparation of any forward-looking statements may prove to be
incorrect. Events or circumstances may cause actual results to
differ materially from those predicted as a result of numerous known
and unknown risks, uncertainties and other factors, many of which
are beyond the control of the Company. Readers are further cautioned
not to place undue reliance on any forward-looking statements, as
such information, although considered reasonable by management of
the Company at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated. The
forward-looking statements contained in this news release are made
as of the date of this news release and are expressly qualified by
the foregoing cautionary statement. Except as expressly required by
securities law, the Company does not undertake any obligation to
update publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events or
otherwise.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein in
the United States or in any other jurisdiction, nor shall there be
any sale of the securities in any state in which such offer,
solicitation or sale would be unlawful. The securities have not been
and will not be registered under the U.S. Securities Act, or any
state securities laws, and accordingly, may not be offered or sold
in the United States except in compliance with the registration
requirements of the U.S. Securities Act and applicable state
securities requirements or pursuant to exemptions therefrom.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this news release. No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information
contained herein.
1 Anderson, C.A. and Creasey, S.C. 1958. Geology and Ore Deposits
of the Jerome Area, Yavapai County, Arizona. Arizona Geological Survey
Professional Paper 308. United States Department of the Interior
2 The historical estimate for the McCabe Deposit is unclassified
and predates, and is non-compliant with, current NI 43-101 standards;
it is based on a 1984 “Total Reserve Estimate” by Stan West Mining.
The Company’s Qualified Person has not done significant work to
classify the historic estimate as current mineral resources or current
mineral reserves. Significant data compilation, re-drilling,
re-sampling and data verification may be required by a Qualified
Person before the historic resource can be verified and upgraded to be
compliant with current NI 43-101 standards.
Source: Arizona Eagle Mining Corp.
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