03:26:23 EDT Thu 02 May 2024
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Arizona Silver Exploration Inc
Symbol AZS
Shares Issued 70,751,075
Close 2023-05-09 C$ 0.55
Market Cap C$ 38,913,091
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Arizona Silver drills 50.3 m of 2.894 g/t Au in Arizona

2023-05-09 11:22 ET - News Release

Mr. Mike Stark reports

ARIZONA SILVER INTERSECTS HIGH GRADE GOLD IN TWO ZONES DRILLED AT THE PHILADELPHIA PROJECT, ARIZONA

Arizona Silver Exploration Inc. 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 hangingwall (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 (g/t) gold and 16.1 g/t silver in the FW vein from 54.88 metres (m) to 56.40 m and 18.2 g/t gold and 46.6 g/t silver in the HW vein from 13.72 m to 15.24 m, in hole PRC23-97. The entire interval from 10.67 m to 60.98 m (50.31 m) averages 2.89 g/t gold and 6.74 g/t silver. Complete summary assay results from the 12 holes are tabulated in this news release.

Greg Hahn, vice-president, 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 to 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 downdip".

Current drilling

The company has commenced core drilling to test the downdip extension of the HW and FW veins and the western edge of the recently identified Red Hill CSAMT (controlled-source audio-frequency magnetotelluric) geophysical target. Results will be announced as received.

QA/QC (quality assurance/quality control) 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, Ariz., where the samples are catalogued, dried, crushed and pulverized. Pulverized splits are sent to the ALS analytical facility in Vancouver, B.C., for analyses. All material handling is done under a strict chain of custody protocol. Gold is determined by fire assay with an AA (atomic absorption) finish, with a gravimetric finish on samples greater than 10 grams per tonne gold, and silver is determined by ICP-MS (inductively coupled plasma mass spectrometry) 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, Ariz., in addition to the independent QA/QC protocols of ALS Global.

Qualified person

Mr. Hahn, vice-president, exploration, and a certified professional geologist (#7122), is a qualified person under National Instrument 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.

We seek Safe Harbor.

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