Vancouver, BC, April 04, 2017 – Arizona Silver Exploration Inc. (the “Company“) (TSX-V: AZS) is pleased to announce that it has obtained approval from the US Bureau of Land Management (“BLM”) for its Notice of Intent and reclamation bond amount to drill eight exploration holes on unpatented mining claims at the Ramsey Silver Project, located in La Paz County, Arizona.
BLM Notice of Intent and Reclamation Bond
On March 7th the Company submitted a Notice of Intent (“NOI”) to BLM to drill eight exploration holes on unpatented lode mining claims to test the large magnetic and coincident IP anomaly that we believe is the northern extension and core of the silver mineralization system present at the Ramsey Silver Mine. A Decision approving the NOI was received on March 21, 2017, subject to posting and acceptance of the requisite reclamation bond of US$14,206. A reclamation bond for US$14,206 in the form of a certified check was submitted to BLM on March 27th, and acceptance of the bond was received on April 3, 2017.
Road Work and Site Preparation
A bid has been accepted to prepared two drill pads and upgrade ½ mile of access road, in accordance with the NOI, for easier road access to the property and the proposed drill sites. Earthworks are anticipated to be completed by mid-April, in anticipation of mobilizing a drill rig to the property by the end of April.
Requests for bids were submitted to four qualified reverse circulation drilling contractors. Three bids have been received to date. A fourth bid is expected this week. Contractor selection will be made by Monday April 10th, with a contract awarded by mid-April for mobilization of a drill and support equipment to site by the end of April. Drilling is anticipated to commence the first week of May. Drilling is expected to occur on a 10-12-hour day shift for about 20 days in order to complete the planned drilling program.
ADWR Well Permits
Once a drilling contractor has been selected, the Company can apply to the Arizona Department of Water Resources for well permits to cover the proposed exploration drill holes. That process takes less than a week.
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.
Please visit the Company’s website to view IP response at www.arizonasilverexploration.com and join our contact list for information and direct mailing of press releases.
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.