Vancouver, BC, April 18, 2017 – Arizona Silver Exploration Inc. (the “Company“) (TSX-V: AZS) is pleased to announce that it has obtained up to 877 grams per tonne (gpt) silver in assay results from rock sampling along the Creosote Vein at the Ramsey Silver Project, located in La Paz County, Arizona.
CREOSOTE VEIN TARGET
Rock sampling of the Creosote Vein and mapping and sampling of its strike extension has returned values up to 877 grams per tonne (gpt) Ag. The highest value is from a composite sample of vein material from the mine dump below the abandoned Creosote shaft. It is believed to be representative of what was mined from the vein. The assay results from this sample are in line with historical sampling on the vein from the bottom of the shaft, referenced below, further supporting that it appears to be a “representative” sample.
Elevated silver values of 43 and 44 gpt Ag occur in two other samples from un-prospected outcrops of the vein which continues for over 150 metres of strike length to the south of the shaft. A total of 8 samples were taken across the vein along the full strike length of the vein exposure, ranging from 15 centimetres to 1 metre in width, which is characteristic of the vein where exposed at the collar of the Creosote shaft. Samples with elevated silver values also contained elevated values of lead (up to 0.31% Pb) and zinc (up to 0.97% Zn). Lead and zinc were elevated in the two samples of un-prospected vein material that contained +40 gpt Ag (600 ppm for both lead and zinc). The other samples contained less than 1 gpt Ag and less than 100 ppm led and zinc. The Creosote Vein is a steeply dipping vein located about 300 meters ESE of the surface expression of the Ramsey Vein.
HISTORY OF THE CREOSOTE VEIN
The Creosote Vein was the target of limited underground development in the 1920s-1930s. A vertical shaft was developed to a depth of 48 meters, with short stations or levels developed at six intervals down the length of the shaft. The old workings are no longer accessible. An old stope is reported to be 12 metres long by 21 metres high to the north of the bottom of the shaft. The vein is about 0.6 metres wide at the collar of the shaft, and is reported to range up to 1.5 metres wide down the extent of the shaft. An historic report indicates that development ceased because the Creosote Vein was lower in grade and narrower than nearby the Ramsey Vein.
Limited sampling of the underground workings in the 1960s indicated the grade along the vein increased with depth, where samples at the bottom of the shaft returned values of 339 gpt Ag across 0.9 metres and 1129 gpt Ag across 0.5 metres. These are historic values that have not been verified by the Company. The Creosote vein and its immediate environs have never been drilled. The northern strike extension of the vein is covered by alluvium. VLF-EM surveying by the Company clearly detects the vein and a strong anomalous response continues to the north from the area of the shaft, indicating the possible extension of the vein to the north under cover. The Creosote Vein remains a viable exploration target for high-grade silver as encountered historically along the Ramsey Vein. The intersection of the shallower dipping Ramsey Vein and the steeper dipping Creosote Vein represents a very attractive future drill target. The intersection of these two veins would lie about 400-500 metres below the surface. We are very encouraged with these high-grade results and look forward to the upcoming drill campaign scheduled to commence May 1. We will be drilling the northern geophysical anomaly that is 20 times larger than the anomaly over the Ramsey mine location.
Samples were delivered to ALS Minerals sample preparation facility in Tucson, Arizona under strict chain of custody, where they were crushed, split, and pulverized in accordance with a standard industry protocol. Representative pulps were shipped by ALS to the ALS Minerals analytical laboratory in Vancouver, BC for 33-element ICP-AES analyses followed by repeat ICP-AES analyses at higher detection levels for samples returning results over 100 gpt Ag.
Greg Hahn, President and CEO and a Certified Professional Geologist (#7122) is the Qualified Person under NI43-101 responsible for preparing and reviewing the geological data contained in this press release.
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ON BEHALF OF THE BOARD
ARIZONA SILVER EXPLORATION INC.
SIGNED: “Greg Hahn”
Greg Hahn, President and Chief Executive Officer
Contact: Mike Stark, non-executive Chair and 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, and the TSX Venture Exchange has in no way passed upon the merits of the transactions herein.
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 2017 program on the Ramsey property; the potential for development of the mineral resources; the potential mineralization and geological merits of the Ramsey property; 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 2017 geophysical and drilling program(s) on the Ramsey property, 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 Ramsey property 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 2017programs 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.