07:11 AM EST, 02/19/2025 (MT Newswires) -- Arizona Metals ( AZMCF ) on Wednesday said it is fully funded and on track to deliver a mineral resource estimate in the first half and a preliminary economic assessment in the second half for its Kay Mine project in Arizona.

The company has two drill rigs targeting an area below the main Kay deposit and the Kay2 Zone. Arizona Metals ( AZMCF ) has drilled 6,300 meters in the Kay2 Zone, with 4,400 additional meters planned for Kay2 and Kay in the first half of 2025.

Arizona Metals ( AZMCF ) expects Kay2 Zone mineralization to contribute to the upcoming mineral resource estimate for the Kay deposit.

To benefit from recent changes in U.S. permitting of natural resource projects, the company has decided to retract its current Exploration Plan of Operations and resubmit the plan in the third quarter.

The EXPO update is expected to save time during the permitting approval process, environmental review and overall development of the Kay project.

"With the new federal administration, there is a renewed focus on resource extraction in both oil and minerals," said Arizona Metals ( AZMCF ) President and CEO Duncan Middlemiss. "It is expected that process for managing reviews, that was present during the current administration's first term, will be put back in place and improved upon, which will include goals and timelines for review and consultations."

Resource and exploration drilling is underway with 17,000 meters at the Kay project and 5,000 meters at the Sugarloaf Peak gold project, also in Arizona.