Arizona Eagle Mining has signed agreements to acquire 62 acres of patented land containing three former high-grade silver mines – the Arizona National Mine, the Lookout Mine and the Silver Belt Mine.
These properties, known as the Silver Parcels, are situated approximately 1km north-east of the company’s McCabe gold-silver deposit, where phase one drilling is taking place.
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The Silver Parcels encompass a mineralised structure extending roughly 1.5km.
Surface sampling conducted by Arizona Eagle, as reported on 19 February 2025, revealed silver grades of 344 grams per tonne (g/t), 255g/t and 234 g/t, alongside 2.4g/t gold.
In early 2026, testing of tailings near the Arizona National Mine shaft showed one sample with 861g/t silver, 2.9% zinc, 1.7% lead and 0.2g/t gold.
Another sample indicated 518g/t silver and 1.3% zinc, while a third showed 15.6g/t gold, 297g/t silver and 1.5% zinc.
The finalisation of the acquisition is anticipated between 19 and 30 June 2026, pending due diligence.
Historically, the Arizona National Mine operated with three shafts and seven levels reaching depths of 150m, intermittently mined between 1915 and 1931.
The Lookout Mine, situated on the Silver Belt vein, last operated between 1948 and 1949, mainly producing galena, sphalerite and gold.
The Silver Belt Mine, dating back to the 1880s, was mined until the 1930s, featuring four shafts and a depth of 80m, with reported silver grades of up to 600g/t.
Arizona Eagle CEO Kevin Reid said: “These high-grade silver mines served as major sources of silver production in Arizona until the 1930s. Mining operations at that time were limited to relatively shallow oxidised depths, with the deepest shaft reaching only 150m, allowing for the opportunity for further discoveries at depth.
“These mines have been privately held by multiple parties and dormant for almost 100 years. Our recent surface sampling on the Eagle Silver property has returned grades up to 344g/t silver, with sampling of the Arizona National Mine waste pile returning grades of up to 861g/t silver and 15.6g/t gold.”
