Arizona Eagle Mining to Buy Three Silver Mines

Arizona Eagle Mining Corp. (TSXV: AZEM) has entered into agreements to acquire 62 acres of patented land hosting three past-producing, high-grade silver mines: the Arizona National Mine, the Lookout Mine, and the Silver Belt Mine, collectively the Silver Parcels. The parcels sit on strike and about one kilometer northeast of the company’s McCabe gold-silver deposit, where Phase 1 drilling is underway.

The company says the mines historically produced major silver output in Arizona until the 1930s, with shallow oxidized operations and a deepest shaft reaching about 150 meters. Arizona Eagle reports surface sampling grades up to 344 g/t silver, and waste pile sampling at the Arizona National Mine returning up to 861 g/t silver and 15.6 g/t gold. It also states the acquisitions extend the mineralized structural corridor northeast of McCabe by 50% (3 km to 4.5 km) and increase patented land by 18% (348 to 410 acres).