02:32:41 EDT Thu 23 Sep 2021
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Arizona Silver Exploration Inc
Symbol AZS
Shares Issued 57,864,096
Close 2021-07-20 C$ 0.20
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Arizona Ag drills 3.05 m of 16.9 g/t Au at Philadelphia

2021-07-20 12:16 ET - News Release

Mr. Mike Stark reports


Arizona Silver Exploration Inc. has released high gold-silver grades from drilling completed in May to June, 2021, on the Perry vein at the Philadelphia project in Mohave county, Arizona. All 15 holes also intersected thick zones of gold-silver mineralization along the plane of the vein.

Mike Stark, president and chief executive officer, states: "We are delighted that drilling has discovered high grades in a vein that was overlooked historically. Significantly, the high-grade zone is open at depth. The shallow lower-grade mineralization is a surprise, a result that represents potentially significant bulk tonnages. Drilling will continue."

Greg Hahn states: "Reverse circulation drilling has confirmed my interpretation that high grades would begin 50 to 100 metres below the low-grade, partially outcropping Perry vein. That interpretation was based on the vein textures at surface compared to textures within ore zones elsewhere. Fortunately for us the productive part of the vein appears to be entirely intact and is open to depth.

"The thick, shallow zone of low-grade mineralization is very significant as it represents a bulk tonnage opportunity. For this reason we are reporting the vein grades and the shallow, bulk tonnage grades separately."

The high-grade Perry vein

The weighted average intercept of the above six holes on the high-grade vein is 4.57 metres (15 feet) at 8.06 grams per tonne gold and 32.54 g/t silver. The drilling was accomplished using a reverse circulation drill rig.

The intercepts in holes -82 and -83 are approximately 300 metres (1,000 feet) along strike of the intercepts in holes -78 through -80 and -85. No drilling exists between these sites to a depth that could have intersected the productive part of the vein.

These intercepts represent the deepest intercepts along the dip of the Perry vein. Grades increase noticeably down dip, encouraging the continuation of drilling farther down dip beneath the above intercepts. The high-grade vein is hosted by an angular clast-bearing multilithic breccia. Green and clear quartz and occasional banded textures characterize the vein intercepts.

The shallow up-dip stockwork intercepts

Drill holes in the shallower portion of the vein intersected broad zones of stockwork gold mineralization as the high-grade vein component is absent.

The weighted average of the lower-grade intercepts in the up-dip portions of the mineralized zone is 39 metres (128 feet) at 0.38 g/t gold and 1.68 g/t silver, which does not include any high-grade vein intercepts.

Results from three diamond drill holes drilled on the Perry claim are not yet available. The core had been selectively sampled for analyses based upon the company's geologic experience to the north on the Philadelphia vein.

The Perry vein system is significantly different to Philadelphia in the sense that gold grades of 0.2 to two g/t are present in rock similar to that would not have carried gold at Philadelphia. In light of these results, the company will now assay portions of the core that were not sampled.

Quality assurance/quality control program

All assaying was conducted by ALS Global, an independent analytical laboratory. RC cuttings were delivered to the ALS delivery truck on site and trucked to the ALS sample preparation facility in Tucson, Ariz., where the samples are inventoried, 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 atomic absorption finish 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 of exploration and a certified professional geologist (No. 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 underexplored gold-silver properties in western Arizona and now Nevada. The company plans to continue to drill test the Ramsey silver mine property located a short distance east of Quartzsite, Ariz., as time allows. The company has recently received a positive record of decision on its notice of intent to drill an initial 12 exploration holes on its recently acquired Silverton gold-silver property with Carlin-type targets. Drilling there will be scheduled as time and equipment allow.

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