Vancouver, BC, November 28, 2016 – Arizona Silver Exploration Inc. (TSX-V: AZS) (the “Company“) is pleased to announce that it has commenced core drilling on the Ramsey Mine silver project located in La Paz County, Arizona, approximately two hours west of Phoenix. Permits to drill five exploration drill holes on patented claims have been obtained from the Arizona Department of Water Resources
A total of 2,000 feet of core in two fences of holes is planned in this Phase 1 drilling program. One fence of holes will test the southern end of the old Ramsey Mine workings which mined a high grade silver vein (with lead and zinc credits) from the surface down to the 529 foot level, and the other fence of holes will test the northern end of the old Ramsey mine stoped out area. Historic channel samples taken at both ends of the stoped out areas on six levels (35 to 299 levels) indicate the continuation of good values of silver in veins and adjacent brecciated wall rock, averaging 925 gpt (27 opt) Ag, being below the reported cut-off grade in the 1960s(which was approximately 1000 gpt (30 opt) Ag), and which appears to be the reason stoping was discontinued. Long hole drilling from underground in the late 1960s identified a wide low-grade halo surrounding the high-grade vein that averaged 120 gpt (3.5 opt) Ag in a zone with an overall true width of 20-40 metres wide, not including the high-grade vein. Drilling from surface is intended to test the entire width of the low-grade envelope surrounding the high-grade vein.
Drilling will simultaneously test the ground magnetic anomaly that is coincident with the mineralization exposed in the old Ramsey Mine workings, in order to understand the source of the magnetic anomaly and to be able to better interpret the much larger (500 meter diameter) ground magnetic anomaly to the north. This northern anomaly appears to be the faulted extension of the anomaly that is coincident with the Ramsey Mine area. It is located across an inferred fault and beneath an estimated 30-60 meters of alluvial cover, based upon data from water wells located approximately two miles to the north of the property. Down hole geophysical logging is planned to quantify the physical properties of the mineralized zone in order to be able to design and interpret further geophysical surveys over the larger undrilled ground magnetic anomaly to the north.
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.
SIGNED: “Greg Hahn “
Greg Hahn, President and Chief Executive Officer
Contact: Mike Stark, Director (604) 336-8619
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 planned 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 will 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.