Arizona Gold has launched its campaign on the Investing News Network
Arizona Gold (TSX:AZG,OTCQB:KERMF) maximizes the potential of Copperstone Gold Mine as it advances the restart of production at the southwestern state of Arizona that ranks among the top 10 most attractive mining jurisdictions in the world. The company reached a significant milestone in January 2020 by way of receipt of a Decision of Record approving the Mining Plan of Operation for Copperstone.
The Copperstone mine land package remains underexplored within a 50 square kilometer area, represents potential to grow the current resource and proven a probable reserve. The Phase 1 drill program completed in 2019 demonstrated the high-grade nature of the gold mineralization at Copperstone with step holes that indicated higher grade and thickness than initially anticipated with one drill intercept returning 16.8 meters of 40.0 g/t gold, including 3 meters of 98.26 g/t gold.
2020 Phase 2 resource expansion
Arizona Gold raised C$3.9 million and plans to commence a Phase 2 drill program of up to 10,000 meters in 2020 for purposes of extending the current mine life while also testing the exploration upside and the multi-million ounce potential of the Copperstone.
- Fully permitted, near-production gold mine in premiere mining jurisdiction of Arizona.
- Existing mine infrastructure representing over US$80 million of value reduces capital for the restart of operation to less than US$20 million.
- Aiming to commence commercial gold production at a rate of 600 tpd to produce up to 40,000 ounces of gold within 12 months of concluding a project funding package.
- Advanced metallurgical testing program with plus 95 percent recovery.
- Considerable resource and reserve upside to further optimize project economics and mine life.
- Commencing Phase 2 of well-funded resource expansion and exploration program.
- Management with proven technical expertise in optimizing mines and achieving profitability.
- Tight share structure with 35 percent held by directors and insiders; 36 percent held by family offices and funds.