Arizona Silver Announces New High-Grade Gold-Silver Intercepts in Mohave County, Arizona

VANCOUVER, British Columbia, Nov. 13, 2019 (GLOBE NEWSWIRE) — Arizona Silver Exploration Inc. (the “Company” or “Arizona Silver”) (TSX-V: AZS) (OTCQB: AZASF) is pleased to announce assay results from the first three core holes drilled during the autumn exploration program at the Company’s 100% owned Philadelphia project in Mohave County, Arizona.  The autumn core drilling follows up on reverse-circulation (RC) drilling earlier in the year that intercepted gold-silver mineralization in all six holes.

Highlights:

  • Core drilling continues to intersect high grades of gold-silver mineralization along strike to the north from historic high-grade underground production on the Philadelphia vein as follows:
  • 41.6 grams/tonne Au and 94.4 gpt Ag across 0.76 metres, from 10-10.76 metres,
  • 23.47 grams/tonne Au and 97.2 gpt Ag over 2.3 metres, from 8.5-10.76 metres,
  • 6.11 gpt Au and 81.9 gpt Ag from 4-17.4 metres,
  • followed by 1.12 gpt Au and 20.3 gpt Ag from 22.9- 32.9 metres,
  • total intercept of 3.97 gpt Au and 55.4 gpt Ag from 4-32.9 metres in core hole PC19-2T.
  • 5.75 g/t Au and 54.2 gpt Ag over 1.2 metres in core hole PC19-7.
  • Target gold-silver mineralization was also intersected in the third core hole

Significant gold intersections have now been encountered in all of the nine (9) reported drill holes from the property to date. As announced on May 15 2019, PRC19-2 intersected an average 15.8 gpt Au and 90 gpt Ag over 3.1m. Hole PC19-2T was designed as a nearby twin of RC hole PRC19-2. The result of core drilling identified a much tighter grade distribution and 49% higher grades present in the vein than determined by 5-ft sampling of RC cuttings from the initial drill holes on the property.

The report on the 2019 Diamond Drill Program comprises the results of three core holes. Drill holes PC19-7 and PC19-8 were collared from the same setup and were drilled to test the shallow strike extension 30 metres to the north of the gold-silver zone identified in RC (reverse circulation) drill holes PRC19-1 and PRC19-2 (15.8 gpt Au and 90 gpt Ag over 3.1 metres) reported in the Company’s  May 15, 2019 news release . Core hole PC19-2T was set up east and down-dip of RC hole PRC19-2 as a twin to evaluate the detailed distribution of gold in the vein at this location, to confirm veracity of RC sampling and compare RC and core sampling and assaying results, and to test for any potential for down-hole contamination in the RC drilling and sampling methods.

In addition, the high-grade vein interval of 2.3 metres in hole PC19-2T contains 497 gpt (~0.05%) Be, the highest beryllium grades reported from the property to date. Beryllium prices are currently US$500/kilogram, according to the US Geological Survey, which implies the beryllium content at Philadelphia is worth tracking, as it may have significant value depending upon its recoverability and future market dynamics.

Arizona Silver’s Vice President – Exploration, Greg Hahn, commented, “We are very happy with the results announced today, as they confirm extension of strike and also suggest that precious metal grades and continuity of mineralization should improve down the dip of the vein as we approach the boiling zone. Observations made during logging of the core identified details of gold distribution along with bladed calcite and quartz replacement textures that clearly identify the intercepts completed to date as being above the boiling zone where the majority of gold and silver mineralization should occur in any high-grade epithermal gold-silver deposit.  By analogy with the main vein deposits of the nearby Oatman District, where over 2 million ounces of gold have been produced historically, the drill holes completed to date at Philadelphia are probably within 100 metres of the top of the boiling zone. The next round of drilling should be able to test for the boiling zone down the dip on the vein from currently permitted and bonded drill sites.”

All assaying was conducted by ALS Global, an independent analytical laboratory. The latest drill intersections are summarized in the table below. Drill widths are approximately true widths.

Summary Table of Core Drill Results

Hole ID From (ft) To (ft) Thick. (ft) (metres) gpt Au gpt Ag Be ppm opt Au opt Ag
PC19-2T 28 35.5 7.5 2.3 23.47 97.2 497 0.685 2.84
within 13 57 44 13.4 6.11 81.9 242 0.178 2.39
plus 75 108 33 10.1 1.12 20.3 69 0.033 0.59
PC19-7 34 38 4 1.2 5.75 54.9 187 0.168 1.60
within 28.9 38 9 2.7 3.45 59.1 225 0.101 1.72
PC19-8 53 58 5 1.5 3.83 11 52 0.112 0.32
within 53 91.3 38.3 11.7 1.72 52.2 322 0.050 1.52

 

QA/QC Program for the 2019 Exploration Work

The Company maintains its own program of inserting Standard Reference material in the form of standards and blanks into the sampling stream, prior to being shipped to ALS’s preparation facility in Tucson, Arizona, in addition to the 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 underexplored gold-silver properties in western Arizona. The Company plans to continue to drill test the Ramsey Silver Mine property located a short distance east of Quartzsite, Arizona, were drilling of 20 holes to date to date has demonstrated a +30 metre-thick zone of silver mineralization surrounding the old high-grade vein that was mined in the 1920s and 1930s. also, the Company has a Plan of Operations submitted to the US Forest Service to drill the initial test holes at the Sycamore Canyon project where surface geology, geochemistry, and geophysics has demonstrated the silver-gold mineral system +600 metres long and up to 100 metres wide that has never been drilled. The latter permitting process is progressing slowly, and the acquisition of the Arabian-Philadelphia property will give the Company an excellent exploration property to explore while the permitting process with the US Forest Service at Sycamore Canyon progresses.

Please refer to our web site for all news and updated property information. www.arizonasilverexploration.com

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 2019 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 2019 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 2019 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.