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Arizona Gold & Silver Inc
Symbol AZS
Shares Issued 77,087,292
Close 2024-05-22 C$ 0.39
Market Cap C$ 30,064,044
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Arizona Gold extracts >99.3% Au at Philadelphia

2024-05-23 13:12 ET - News Release

Mr. Gregory Hahn reports

ARIZONA GOLD & SILVER INC. REPORTS EXCEPTIONAL GOLD EXTRACTIONS ON LEACH TESTS FROM THE PHILADELPHIA GOLD-SILVER PROJECT, ARIZONA

Arizona Gold & Silver Inc. has extracted 90 per cent to over 99 per cent gold from agitation cyanide leach tests on two bulk samples from the Philadelphia gold-silver property, Arizona. The results demonstrate the ready amenability of the feed material for cyanide gold extraction.

Initial agitation leach tests were performed by McClelland Laboratories in Sparks, Nev., on two bulk samples of material. The objective was to assess the amenability of the material to conventional milling and cyanidation leaching. The leach tests demonstrated gold recoveries of 90.6 per cent to greater than 99.3 per cent for all milled feed sizes. Leach kinetics were faster at the finer feed sizes and ultimate gold recoveries were greatest at the finer feed sizes. Cyanide and lime consumption was low in all tests. Lime addition averaged one kilogram per tonne. Cyanide consumption averaged less than 0.1 kilogram per tonne.

Greg Hahn, vice-president, exploration, commented: "These excellent results demonstrate the ready amenability of the feed material to milling/cyanidation treatment at different feed sizes, and the potential for heap leaching. They represent an important milestone for the project."

Agitation leach test results

A total of four agitation leach (bottle roll) tests each were conducted from the two bulk samples at feed sizes ranging from 80 per cent passing minus 425 microns, minus 212 microns, minus 150 microns and minus 106 microns. The milling tests on these samples were performed at a cyanide concentration of one gram per litre for a leach cycle of 120 hours. Additionally, samples at minus-1.7-millimetre feed size were performed at varying cyanide concentrations for a 72-hour leach cycle to assess the sensitivity of gold extraction to cyanide strength for consideration of heap leach test work.

Agitation leach tests on minus 1.7 mm for a 72-hour cycle demonstrated gold recoveries of 72.7 per cent to 73.6 per cent at a cyanide strength of one gram per litre. These tests provide an indication of potential ultimate gold leach extractions under heap leach conditions. Gold recoveries were lower at lower cyanide solution strength providing guidance that column leach tests be performed at a cyanide strength of one gram per litre. Column tests on both bulk samples are currently under leach at feed sizes of 80 per cent minus 6.3 mm (minus one-quarter inch) and larger to quantify the amenability of the material to heap leaching. As of the date of this press release the columns have been under leach for over 92 days and demonstrate a nearly linear recovery curve, with the minus 6.3 mm (minus one-quarter inch) charge leaching faster than the minus 9.5 mm (minus three-eighths inch) charge which is leaching faster than the minus 12.5 mm (minus one-half inch) charge. All test work to date indicates that gold recoveries and rates of extraction are sensitive to feed size, with gold recoveries increasing with decreasing feed/grind size.

These columns tests will continue until at least 120-day leach cycle or until gold extraction decrease materially.

Qualified person

Mr. Hahn, vice-president, 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 Gold & Silver Inc.

Arizona Gold & Silver is a leading exploration company focused on uncovering precious metal resources in Arizona and Nevada. With a commitment to sustainable practices and innovative exploration techniques, the company aims to drive value for stakeholders while prioritizing environmental stewardship.

The flagship asset is the Philadelphia gold-silver property where the company is drilling off an epithermal gold-silver system ahead of an initial resource calculation.

We seek Safe Harbor.

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