21:42:45 EDT Wed 17 Jul 2024
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Arizona Gold & Silver Inc
Symbol AZS
Shares Issued 77,087,292
Close 2024-06-05 C$ 0.44
Market Cap C$ 33,918,408
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Arizona Gold receives Philadelphia exploration permit

2024-06-05 12:49 ET - News Release

Mr. Mike Stark reports


The United States Bureau of Land Management (BLM) has provided the requisite approval for Arizona Gold & Silver Inc. to proceed with exploration drilling on the Red Hills gold target on the Philadelphia gold-silver property, Arizona. The company had been awaiting a BLM record of decision (ROD) and finding of no significant impacts (FONSI).

The approval of the proposed exploration plan will allow the company to upgrade two access roads, and build two drill pads and sumps for drilling up to 40 exploration holes to test the continuity of mineralized rock that was intersected on patented claims on the western edge of the Red Hills target. Investors can refer to press releases dated Jan. 24, 2023, and Feb. 7, 2023, available on the company's website.

Greg Hahn, vice-president of exploration, commented, "The approval of the proposed drilling plan paves the way for the company to pursue extensions to significant drill intercepts encountered in 2021 to 2022 on the company's immediately adjacent Rising Fawn and Perry patented claims."

The company has agreed to several environmental mitigation measures, both prior to and during drilling, that will help protect sensitive species known to be present in the general area, as a demonstration of its commitment to operating in an environmentally responsible manner. All disturbances will be reclaimed as soon after completion of drilling as is practicable, including regrading and reseeding of the disturbances upon completion of the drilling program. An appropriate bond will be posted to insure completion of site reclamation.

The plan of operations, environmental assessment, ROD and FONSI documents can be reviewed at the BLM website.

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 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 company's 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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