Vancouver, British Columbia, February 15, 2022 – Arizona Silver Exploration Inc. (TSXV: AZS) (OTCQB:AZASF) is pleased to announce that it has completed the first two core holes at the Philadelphia project, Mohave County, Arizona. Drilling commenced on January 28, 2022. The first hole is in the laboratory with the second hole to be submitted Friday.
Greg Hahn, VP-Exploration states, “From a visual perspective the new drilling is proceeding as anticipated. Intercepts are close to modelled depths and quartz vein breccia thicknesses remain strong. The presence of visible gold in core in the hanging wall vein is encouraging but must be regarded with caution as to grade. That said, the model of the gold system in the “boiling zone” is holding up and as such I expect the zone will continue deeper.”
Current drilling is at the north end of the Perry patented claim testing down dip of three previously drilled reverse circulation drill holes, PRC21-81 thru PRC21-83. The objective of the drilling is twofold: firstly, to determine the grade continuity down dip of previous mineralization, and secondly to recover drill core to compare with RC cuttings.
Earlier holes, PRC21-81 thru PRC21-83 reported two vein breccias separated by a diagnostic rhyolite dike that hosts quartz stockwork veining. The upper (hanging wall) quartz vein breccia is higher grade than the lower (footwall) calcite-cemented vein breccia. The thickness and grade of the entire mineralized package was increasing with depth. The upper vein breccia was up to 3 metres thick at 16.9 grams per tonne (“gpt”) gold and 51.15 gpt silver. Stockwork mineralization up to 33.5 metres drill thickness was intersected in the mineralized rhyolite dike between the upper and lower vein breccias. The lower vein was characterized by black carbonate-cemented quartz vein and rhyolite fragments.
Current holes PC22-86 and PC22-87 intersected upper and lower vein breccia intercepts as predicted, 30 metres and 60 metres respectively below the earlier drill intercepts. The geology is continuous in both core holes, with the two vein breccias separated by quartz stockwork rhyolite. A section of the geology to date is posted to the web site at https://arizonasilverexploration.com/philadelphia/.
In holes PC22-86 and PC22-87 the upper vein breccia carries fine-grained visible gold. The vein breccia is characterized by yellow or green chalcedonic to crustiform quartz, occasionally banded, with clasts of vein and rhyolite within the vein breccia. The thickness of the upper vein breccia is 5.91 metres in the shallower hole, PC22-86 and 3.87 metres in the second hole, PC22-87. Estimated true thickness of the upper vein breccia in the two holes is 4.85 metres and 2.74 metres respectively.
In holes PC21-86 and PC21-87 the lower vein breccia is 10.33 metres thick and 12.71 metres thick respectively. Estimated true thickness of the vein breccia is 8.5 metres and 9 metres respectively. Quartz in the lower vein is mostly white to gray, not green to yellow as in the upper vein breccia, and locally contains cockade and banded textures. The vein textures suggest the new drill hole intercepts are below the upper level of “boiling” as anticipated.
In the new drilling, the quartz stockwork rhyolite zone between the two vein breccias is 29 metres thick and 39.4 metres thick respectively. The zone is getting both thicker and stronger with depth. Some yellow and green quartz is evident in the stockwork zone reflecting a mixture of the quartz present in both the upper and lower vein breccias. Overall thickness of the strongly mineralized interval in the two holes is 45.27 metres, and 56.0 metres respectively. Estimated true thicknesses are 32.0 metres and 45.87 metres.
Two more drill holes are planned to follow the zone further down dip some 30 metres and 60 metres below PC21-87. Drilling is underway on hole PC21-88, but this hole will probably not be completed before February 17th when the drill crew will break before resuming February 27th.
See link to core photos on website: https://arizonasilverexploration.com/philadelphia-slideshow/
Gregory Hahn, VP-Exploration, and a Certified Professional Geologist (#7122) is a Qualified Person under National Instrument 43-101 (“NI 43-101”) and has reviewed and approved the technical information contained in this news release.
About Arizona Silver Exploration Inc.
Arizona Silver is a young exploration company focused on exploring gold-silver properties in western Arizona and Nevada. The flagship asset through 2022 will be the Philadelphia gold property. On its recently acquired Silverton gold-silver property, the Company recently received a positive Record of Decision on its Notice of Intent to drill an initial twelve exploration holes on Carlin-type targets. Drilling there will be scheduled as time and equipment allow.
On behalf of the Board of Directors:
ARIZONA SILVER EXPLORATION INC.
Mike Stark, President and CEO, 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.
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 2020-2021 exploration program; the potential for development of the mineral resources; the potential mineralization and geological merits of the exploration properties; 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 2022 drilling program(s) on its properties, 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 exploration properties 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 2021 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.