Vancouver, British Columbia–(Newsfile Corp. – February 14, 2017) – Arizona Silver Exploration Inc. (TSXV: AZS) (the “Company“) is pleased to announce the second batch of drill results from the first phase of drilling on the Ramsey Silver Project located in La Paz County, Arizona.
Drill hole R1605-C intersected 156 feet (47.5 metres with approximate true width of 32 metres) containing 32.4 g/tonne (gpt) Ag between 250-406 feet (76-124 metres) depth. R1605-C was a vertical hole. Within this zone is a higher grade grey matrix silica zone 5 feet wide (1.5 metres) containing 280 gpt Ag. The entire intercept is within silicified rhyolite that is hanging-wall to the high-grade vein and associated footwall silver mineralization that was reported previously from hole R1602-C. Drill rods in hole R1605-C got stuck in a fault immediately below the intercept reported above, and the hole had to be abandoned. The lead, zinc, and gold content of the hanging-wall zone are negligible.
This intercept is significant in that it demonstrates that appreciable thicknesses of silver occur in the rhyolite above the high-grade vein that was the focus of historic production in the old Ramsey Mine workings and the associated footwall silver intercepts that were reported from holes R1602-C. Hole 1602-C is located 73 metres to the south of R1605-C. Hole R1602-C intersected 91 feet (27.7 metres approximate true width) grading 63 gpt Ag. The intercepts in R1602-C and R1605-C are separated by a large fault that appears to have moved the hanging-wall zone to the north relative to the footwall zone. Together, the hanging-wall and footwall zones comprise a package of silver mineralization that appears to have been 240 feet thick (60 meters true width) averaging 46.4 gpt Ag before it was faulted. The recognition of this fault explains why the vein appears to be sheared in the accessible underground workings.
This mineral system appears to be very large and is wide-open to the north of hole R1605-C, where no previous drilling or mine development has occurred and where we have detected a large magnetic anomaly over 0.5 kilometres in diameter that we believe is the faulted extension of the mineralization intersected in this phase 1 drilling program. There is over 40 meters of hydrothermal magnetite in the rocks up-hole from the silver-bearing intercept in R1605-C, which accounts for the magnetic anomaly over the location of the phase 1 drill holes and the Ramsey Mine workings. The much larger magnetic anomaly to the north has a stronger signature than that detected over the phase 1 drill holes and Ramsey Mine, suggesting it may represent the heart of the hydrothermal system, with R1605-C being on the periphery of that system. R1605-C is the closest drill hole to this large magnetic anomaly.
Drill hole R1604-C was an inclined hole drilled up-dip and southwest of the intercepts in R1603-C and R1605-C. R1604-C got stuck in the fault that separates footwall from hanging-wall mineralization, but drilling was able to proceed by reducing rod size and continuing through the fault. R1604-C penetrated footwall mineralization only from 220-242 feet (67-74 metres with 7 metres true width) grading 51 gpt Ag, after drilling through extremely faulted ground in the region where the high-grade vein projected. We believe the high-grade vein is faulted out along with over 50 feet (15.3 metres) of mineralized footwall section, which would explain why historical mining was discontinued at the north end of the deposit.
We are encouraged with the results of the initial drilling programme and have tagged what we think is the periphery of a much larger silver-bearing hydrothermal system centred on the large magnetic anomaly to the north. We will post cross sections to the web site after we have finalized them. Please take a moment to view our web site with images of the geology and core at www.arizonasilverexploration.com.
QA/QC and Analytical Procedures
All drill core is stored in a locked facility in Quartzsite, Arizona prior to transport under strict chain of custody by ALS Minerals personnel to the ALS Minerals laboratory in Tucson Arizona. Core is photographed, sawed, and sampled by ALS Minerals personnel in accordance with sample intervals provided by Arizona Silver, then each interval is 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.
SIGNED: “Greg Hahn”
Greg Hahn, President and Chief Executive Officer
Contact: Mike Stark, Director
Phone: (604) 833-4278