Arizona Metals Corp (OTCMKTS:AZMCF) (CVE:AMC) Stock Consolidates After The Big Jump
Arizona Metals Corp (OTCMKTS:AZMCF) (CVE:AMC) is moving in a range after announcing the results of another fourteen drill holes at the Kay Mine resource located in Yavapai County, Arizona.
Market Stats
On Tuesday, AZMCF stock gained 1.28% to $4.73 with more than 530K shares, compared to its average volume of 115k shares. The stock has moved within a range of $4.6200 – 5.1100 after opening trading at $4.62.
Latest News
CEO Marc Pais stated that the Kay Mine system’s diversity and scale potential continue to be demonstrated by the fourteen drill holes revealed today. At Kay, nearly every hole drilled so far has struck semi-massive to huge sulfide deposits, with results awaiting on thirteen more holes, and currently, the company is drilling three additional holes.
The company has tested the deposit to 860 meters below ground (in Hole 42C) across a 300-meter strike length in Phase two drilling, and drilling is continuing to extend Kay potential across all directions. The company’s deepest drill hole, 42C, has expanded mineral deposits by 165 meters deep in hole 27B and yielded the largest copper grade so far, 18.8%. Hole 46, which is among the shallowest holes so far, has also pushed the deposit 35 meters higher. So investors should watch AZMCF.
Key Quote
Marc Pais, CEO, commented “The fourteen drill holes released today continue to demonstrate the richness and size potential of the Kay Mine system. Virtually all holes drilled to date at Kay have intersected semi-massive to massive sulphide mineralization, with assays pending on 13 more holes, and three holes currently underway.
Traders Corner
AZMCF stock is above the 20-Day and 50-Day Moving averages of $4.71 and $4.35 respectively. The stock is trading in the neutral zone with the RSI at 54.
