Vancouver, BC, July 4, 2017 – Arizona Silver Exploration Inc. (the “Company”) (TSX-V: AZS) is pleased to announce assays on the second batch of five drill holes (R1703 to R1707) from the first phase of drilling in 2017 on the Ramsey Silver Project located in La Paz County, Arizona.
Drill Results (see chart below)
Drill hole R1706 intersected 145 feet (44.2 metres with approximate true width of 35 metres) containing 62.5 g/tonne (gpt) Ag between 260-405 feet (79.3-123.5 metres) down-hole depth. R1706 was drilled at -75 degrees bearing 60 degrees azimuth. This interval is contained within a wider zone of silver mineralization between 210-500 feet (64-152.4 metres: 88.4 metres with approximate true width of 70 metres) averaging 42.6 g/tonne (gpt) Ag. The majority of the intercept is within silicified rhyolite that is hanging-wall to the fault contact that hosts the high-grade vein that was the focus of historical mining on the property. A minority of the intercept is below that fault contact. A discrete vein was not recognized in the drill cuttings. Rather the zone of silver mineralization appears to be a wide zone of disseminated and stockwork mineralization throughout the intervals reported. The higher grade interval averages 0.18% Pb and 0.34% Zn, while the broader lower silver grade interval averages 0.15% Pb and 0.26% Zn. Both intervals contain appreciable barite with numerous sample intervals containing greater than 1% Ba.
Drill hole R1707 was drilled from the same pad as R1706, but at -60 degrees along a 60 degrees azimuth. R1707 intersected 175 feet (53.3 metres with approximate true width of 42 metres) from 280-455 feet (85.4-138.7 metres) containing 37.3 gpt Ag within a wider zone of silver mineralization from 215-465 feet (65.5-141.8 metres) containing 31.1 gpt Ag. Lead and zinc contents were 0.13% Pb and 0.22% Zn for the higher grade silver interval and 0.11% Pb and 0.21% Zn for the broader lower grade silver interval. The hole contained significant barite as in R1706 with numerous sample intervals containing greater than 1% Ba. The intercept in R1707 is located approximately 30 metres east the intercept in R1706.
The two intercepts are at approximately the same elevations, suggesting the mineralized zone is flat-lying and not dipping in the plane of the fault that contained the high grade vein that was mined historically. This opens up the target area east and south of the Ramsey mine workings to a thick, relatively flat-lying mineralized zone that lies at a depth below surface less than or equal to the thickness of the mineralized zone. The alluvial cover at the collar of both holes was approximately 15 metres thick, which is sufficient to mask the mineral system but not too deep to explore with relatively shallow drill holes.
The other three holes did not hit significant silver mineralization. Further east of the intercepts in R1706 and R1707 we have mapped extensive and strong silica + iron alteration of the rhyolite across an area of ~700 metres x 250 metres that has never been drilled to the depths referenced in the intercepts above.
|Hole No.||From(m)||To(m)||Thick.(m)||gpt Ag|
|R1703||no significant silver values|
|R1704||no significant silver values|
|R1705||no significant silver values|
This large area of alteration is highly prospective for the continuation of silver mineralization encountered in drill holes R1706 and R1707.
We are encouraged with the results of the drilling east of the old Ramsey Mine workings and have intersected what we think is the periphery of a much larger silver-bearing hydrothermal system centred on the strong alteration mapped to the east and south. A cross section of the drill results has been posted to the web site. Please take a moment to view our web site with images of the geology and core at www.arizonasilverexploration.com.
The Ramsey silver mineral system appears to be very large and is wide-open to the east and south, where no previous drilling or mine development has occurred.
Western Deep IP Anomaly – A Large Target
We have engaged a geophysical consultant to model the western deep IP anomaly, an area which has no drilling to date. The consultant will ascertain what size sulphide-bearing body, buried at what depth, is required to generate the anomaly detected on all three IP lines. The initial results suggest it takes a very large body in excess of 500 metres cubed, buried at a depth of 100-200 metres, to generate the anomaly. We will report on the details and results of that effort when it is completed. Only drilling planned for late this year, however, will reveal whether economic mineralization lies below this geophysical target.
QA/QC and Analytical Procedures
All drill cuttings were transported under strict chain of custody by ALS Minerals personnel to the ALS Minerals laboratory in Tucson Arizona, where samples were dried and crushed to 70% passing 2 mm, a 250 gram split is taken and pulverized to 85% passing 75 microns, subject to a four-acid digestion, and then analyzed by ICP/MS for a 48-element package including silver, lead, and zinc. Samples over 100 ppm silver and over 10,000 ppm lead or zinc are re-analyzed using ICP for higher concentration levels. Selected intervals with high silver values are re-submitted for 1-assay ton fire assays for gold.
Greg Hahn, President and COO and a Certified Professional Geologist (#7122) is the Qualified Person under NI43-101 responsible for preparing and reviewing the data contained in this press release.
ON BEHALF OF THE BOARD
ARIZONA SILVER EXPLORATION INC.
Greg Hahn, President and Chief Executive Officer
Contact: Mike Stark, 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 2016 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 2016 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 2016 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.