Arizona Metals Shares Surge After Strong Assay Results for Kay Project

Arizona Metals Corp. (TSX:AMC, OTCQX:AZMCF) shares jumped Monday, gaining 5.4% to C$1.37, as the company announced positive assay results from its Kay Project in Arizona. The stock has narrowed its year-to-date loss to 23% following the news.

The latest results come from three drill holes in the Kay2 Zone and one hole from the West target at Kay. Drill hole KM-24-166, a discovery hole in a new lens of mineralization, intersected 50.0 meters grading 6.65 g/t AuEq, including 6.9 meters at 12.69 g/t AuEq. This new zone of mineralization, the Kay2 Zone, is located approximately 100 meters north of previously drilled mineralization in the Kay deposit.

Duncan Middlemiss, President and CEO of Arizona Metals, commented on the results: "We have long anticipated the expansion potential of the Kay Project, and this drill hole shows that the upside at Kay is substantial. We currently have three drills on the Kay Project and have devoted two of them to the Kay2 Zone to test its extent. We expect the newly discovered Kay2 Zone to contribute to the upcoming mineral resource estimate for the Kay deposit."

The company also reported positive results from other drill holes in the Kay deposit, including step-out exploration drilling that intersected 8.8 meters of 4.8% CuEq. Arizona Metals is well-funded, with $20.6 million in cash as of June 30, 2024.



Retail investors should consider buying shares of Arizona Metals Corp. to participate in the opportunities offered by the precious metals and base metals markets. The stock shows a strong correlation with the performance of the broader mining sector and has the potential to benefit from rising commodity prices.

In conclusion, Arizona Metals Corp.'s shares surged after the company announced strong assay results from its Kay Project in Arizona. The discovery of a new zone of mineralization, the Kay2 Zone, and positive results from other drill holes indicate that the Kay deposit may be larger and more extensive than previously thought. With a well-funded drilling program and a strong balance sheet, Arizona Metals is well-positioned to capitalize on the opportunities in the precious metals and base metals markets.