-- Arizona Metals (AMC.TO) provided results of a Preliminary Economic Assessment (PEA), supporting the initial mineral resource estimate for its Kay Mine Project, on Thursday.
"The results of the PEA establish the Kay Mine Project as a credible development opportunity, underpinned by a well-defined Indicated mineral resource and a fully costed mining scenario, which outlines our base case," said Arizona Metals Chief Executive Duncan Middlemiss.
The company is also continuing its investigation of alternative processing technologies, which, together with supportive commodity price environments, "could enhance project returns," Middlemiss added.
The PEA also showed 127 million pounds (Mlbs) copper, 293 Mlbs zinc, 258 koz gold, and 4,712 koz silver of payable production over the 10 years of conceptual mine life.
Shares of the company closed down 3.6% to $0.54 on Wednesday on the Toronto Stock Exchange.