Arizona Eagle acquires three past producing silver mines
The Arizona National mine, the Lookout mine and the Silver Belt mine are five parcels located on strike with, and approximately one kilometre northeast of the company’s McCabe gold-silver deposit.
Arizona Eagle Mining has acquired three past-producing silver mines in Yavapai County, Arizona. The three mines are the Arizona National, the Lookout, and the Silver Belt. These mines were previously developed by Stan West Mining between 1980 and 1984. The acquisitions expand the company's mineralization strike by 50% from 3km to 4.5km.
Arizona Eagle's patented land ownership also grew by 18% from 348 to 410 acres. The mines were active until the 1930s and had total reserve estimates of 878,000 ounces of gold and 5,120,000 ounces of silver. Recent sampling on the Eagle Silver property returned grades up to 344 g/t silver, and waste piles returned grades of up to 861 g/t silver and 15.6 g/t gold.
Arizona Eagle's CEO Kevin Reid expressed optimism about reviving the mines using modern exploration methods and drilling.
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