Arizona Metals Corp Announces Annual General Meeting and Deferral of Shareholder Vote on Previously Proposed Spin-Out Transactions
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The Company also announces today that the board of directors has determined to defer the shareholder vote on the proposed spin-out transactions which were previously announced by the Company on
There are two exploration drills currently in operation on the Kay Mine Property. One drill is focused on step-out and infill targets on the Kay Mine Deposit, and the other is testing exploration targets in the North Central area of the project. The Company has completed 26,200 m of the 76,000-meter Phase 3 drill program; 30,000 m of this program have been earmarked for resource drilling on the Kay deposit, 15,000 m of which have been completed. Management is looking forward to updating shareholders on exploration progress in the coming weeks.
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The Company also owns 100% of the Sugarloaf Peak Property, in
The historic estimate at the Sugarloaf Peak Property was reported by Westworld Resources in 1983. The historic estimate has not been verified as a current mineral resource. None of the key assumptions, parameters, and methods used to prepare the historic estimate were reported, and no resource categories were used. Significant data compilation, re-drilling and data verification may be required by a Qualified Person before the historic estimate can be verified and upgraded to a current mineral resource. A Qualified Person has not done sufficient work to classify it as a current mineral resource, and
The Qualified Person who reviewed and approved the technical disclosure in this release is
This press release contains statements that constitute "forward-looking information" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements contained in this press release include, without limitation, statements regarding the previously announced proposed spin-out transactions, including the possibility of the Company's shareholders voting in respect of the spin-out transactions in the future, or not at all , the development of a strategic plan for the Company's assets by management and the board of the Company, and the success or outcome of any such plan. . In making the forward- looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: availability of financing; delay or failure to receive required permits or regulatory approvals; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward- looking statements or otherwise.
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