Vancouver, British Columbia, May 9, 2023 – Arizona Silver Exploration Inc. (TSXV: AZS) (OTCQB:AZASF) is pleased to announce that it has received final assays from 12 reverse circulation (“RC”) drill holes at the Philadelphia epithermal gold-silver project in Mohave County, Arizona. The drilling program intersected high grade gold values in both footwall (FW) and hanging wall (HW) veins, with mineralized stockwork between.
Five holes were completed on one of three patented claims known as the Rising Fawn Zone and seven in the GAP located in the Perry Zone. All 12 holes intersected gold mineralization in previously undrilled areas.
Highlights include 51 grams per tonne (“gpt”) gold and 16.1 gpt silver in the FW vein from 54.88 metres (m) to 56.40m and 18.2 gpt gold and 46.6 gpt silver in the HW vein from 13.72m to 15.24m, in hole PRC23-97. The entire interval from 10.67m to 60.98m (50.31m) averages 2.89 gpt gold and 6.74 gpt silver. Complete summary assay results from the 12 holes are tabulated below.
Mr. Greg Hahn. VP-Exploration comments, “Our drilling on these previously undrilled areas has delivered precisely what we were targeting – continuity of good grade mineralization. On the Rising Fawn Zone beneath and along strike of mine workings we have demonstrated continuity of robust gold mineralization from near surface to depths of 70-100 metres. In the Perry Zone our successful drilling of the GAP has been particularly encouraging. We confirmed the continuity of mineralization in that previously undrilled area. Importantly, the system remains open along strike in both directions and down dip”.
Sections available here: https://arizonasilverexploration.com/philadelphia
| Q1 2023 RC Drilling Program Summary Assay Results | ||||||
| Rising Fawn Zone | ||||||
| Drill Hole | From m | To m | Length m | Au gpt | Ag gpt | Est. True Width m |
| PRC23-97 | 10.67 | 60.98 | 50.30 | 2.894 | 6.74 | 50 |
| including | 13.72 | 15.24 | 1.52 | 18.2 | 46.6 | 1.5 |
| and | 54.88 | 56.40 | 1.52 | 51 | 16.1 | 1.5 |
| PRC23-98 | 6.10 | 70.12 | 64.02 | 1.093 | 6.31 | 64 |
| PRC23-99 | 19.82 | 94.51 | 74.70 | 0.976 | 5.38 | 53 |
| PRC23-100 | 0.00 | 65.55 | 65.55 | 0.423 | 1.71 | 65 |
| PRC23-101 | 32.01 | 112.80 | 80.79 | 0.734 | 2.01 | 57 |
| including | 105.18 | 106.71 | 1.52 | 8.84 | 11.5 | 1.5 |
| *holes PRC-102 and PRC-103 were not drilled | ||||||
| Perry (GAP) Zone | ||||||
| Drill Hole | From m | To m | Length m | Au gpt | Ag gpt | Est. True Width m |
| PRC23-104 | 62.50 | 88.41 | 25.91 | 1.096 | 9.73 | 24.3 |
| including | 70.12 | 74.70 | 4.57 | 3.3 | 27.6 | 3 |
| PRC23-105 | 91.46 | 112.80 | 21.34 | 0.789 | 4.04 | 16.4 |
| including | 91.46 | 92.99 | 1.52 | 5.65 | 29.1 | 1 |
| PRC23-106 | 137.20 | 161.59 | 24.39 | 0.503 | 2.95 | 12.2 |
| including | 138.72 | 140.24 | 1.52 | 3.16 | 14.6 | 0.76 |
| PRC23-107 | 53.35 | 73.17 | 19.82 | 1.428 | 11.3 | 18.6 |
| including | 57.93 | 60.98 | 3.05 | 5.6 | 32.4 | 5.3 |
| PRC23-108 | 71.65 | 117.38 | 45.73 | 0.475 | 2.63 | 35 |
| including | 77.74 | 79.27 | 1.52 | 4.56 | 30.9 | 1.2 |
| PRC23-109 | 54.88 | 86.89 | 32.01 | 0.55 | 4.21 | 24.5 |
| PRC23-110 | 80.79 | 97.56 | 16.77 | 0.302 | 1.55 | 12.9 |
Current Drilling
The Company has commenced core drilling to test the the down-dip extension of the HW and FW Veins and the western edge of the recently identified Red Hill CSAMT geophysical target (see News Release April 22, 2023). Results will be announced as received.
QA/QC Program
All assaying was conducted by ALS Global, an independent analytical laboratory. Reverse circulation (RC) cuttings were delivered to the ALS sample preparation facility in Tucson, Arizona, where the samples are catalogued, dried, crushed, and pulverized. Pulverized splits are sent to the ALS analytical facility in Vancouver, British Columbia for analyses. All material handling is done under a strict chain of custody protocol. Gold is determined by fire assay with an AA finish, with a gravimetric finish on samples greater than 10 grams per tonne gold, and silver is determined by ICP-MS methods within a 31-element suite.
The Company maintains its own program of inserting Standard Reference material in the form of standards and blanks to the sampling stream, prior to being shipped to ALS’s preparation facility in Tucson, Arizona, in addition to the independent QA/QC protocols of ALS Global.
Qualified Person
Gregory Hahn, VP-Exploration and a Certified Professional Geologist (#7122) is a Qualified Person under National Instrument 43-101 (“NI 43-101”) and has reviewed and approved the technical information contained in this news release.
About Arizona Silver Exploration Inc.
Arizona Silver is a young exploration company focused on exploring gold-silver properties in western Arizona and Nevada. The flagship asset is the Philadelphia property and the subject of this news release.
On behalf of the Board of Directors:
ARIZONA SILVER EXPLORATION INC.
Mike Stark, President and CEO, Director
Phone: (604) 833-4278
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. Forward-looking statements in this news release include statements in relation to the timing, cost and other aspects of the 2023 exploration program; the potential for development of the mineral resources; the potential mineralization and geological merits of the exploration properties; and other future plans, objectives or expectations of the Company. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include the risk that actual results of current and planned exploration activities, including the results of the Company’s 2023 drilling program(s) on its properties, will not be consistent with the Company’s expectations; the geology, grade and continuity of any mineral deposits and the risk of unexpected variations in mineral resources, grade and/or recovery rates; fluctuating metals prices; possibility of accidents, equipment breakdowns and delays during exploration; exploration cost overruns or unanticipated costs and expenses; uncertainties involved in the interpretation of drilling results and geological tests; availability of capital and financing required to continue the Company’s future exploration programs and preparation of geological reports and studies; delays in the preparation of geological reports and studies; the metallurgical characteristics of mineralization contained within the exploration properties are yet to be fully determined; general economic, market or business conditions; competition and loss of key employees; regulatory changes and restrictions including in relation to required permits for exploration activities (including drilling permits) and environmental liability; timeliness of government or regulatory approvals; and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, including that the Company’s 2023 programs would proceed as planned and within budget. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.