Vancouver, British Columbia, March 15, 2022 – Arizona Silver Exploration Inc. (TSXV: AZS) (OTCQB:AZASF) is pleased to announce it has completed three more core holes at the Philadelphia project, Mohave County, Arizona. This press release provides a geological summary of the latest holes. See the press release of February 15, 2022 for a summary discussion of the first two core holes. To date three core holes have been delivered to the ALS laboratory for sample preparation and assaying. Two holes on the “shark fin” target will be delivered by the end of the week.
Greg Hahn, VP-Exploration states, “This press release is only to keep the market informed of our progress, so we can discuss the geology openly. No assay results have been received to date. That said, the core drilling program is progressing very well. We are intersecting our target at anticipated depths and intervals on all holes. Geologically, the mineral system continues to appear stronger in the deeper holes. We will continue to chase the system down dip, particularly as the deepest (vertical) hole is only 219 metres below surface. The two core holes, PC22-89 andPC22-90, into the “shark fin” target are visually remarkable with respect to vein thickness and textures, however the strength of the mineral system will be defined by the assays.”
Section 1 below shows 6 drill holes, 3 reverse circulation drill holes from 2021 (prefixed PRC), and 3 of the new and deeper core holes (PC). Two recently complete core holes, PC22-86 and PC22-87 have been described previously. Hole PC22-88 is deeper than both PC22-86 and PC22-87.
A summary of vertical drill hole PC22-88 is provided below.
|From (m)||To (m)||Thickness (m)||Description|
|120.64||123.78||3.14||QvBx- quartz vein breccia|
|123.78||163.29||39.51||Tr2qtz- rhyolite with stockwork quartz|
|163.29||164.97||1.68||CcBx- calcite matrix breccia|
|164.97||194.54||29.57||Tr2qtz-CcBx mixed breccia|
|197.10||201.65||4.54||Tad- andesite dike|
|201.65||218.60||16.95||Ygr- Proterozoic granite|
Thicknesses reported are drilled thickness. True thickness is roughly 50% of drilled thickness.
The quartz vein breccia (QvBx) consists primarily of yellow-light green chalcedonic to crustiform and crenulated banded quartz. Tr2 rhyolite contains more stockwork quartz, including green and yellow quartz, than in any previous hole. The lower portion of the stockwork rhyolite also contains zones of calcite veining similar to what characterizes the calcite matrix breccia (CcBx), but across a wider zone and not in a discrete vein-like configuration as in previous holes on the drill section. In addition, the stockwork quartz bearing rhyolite is thicker in hole PC22-88 than in any previous hole. Together these characteristics imply the system is strengthening down-dip.
One more core hole will be drilled on this section to test the down-dip continuation of the mineral system below the intercept in hole PC22-88. Total thickness of the visually mineralized interval is 73.90 metres.
Section 2 below is oblique to Section 1. It shows core holes PC22-89 and PC22-90 which tested the “shark fin”, a prominent outcrop of calcite cemented breccia that contains clasts of quartz vein material and altered Tr2 rhyolite. They were drilled from the same drill pad as the previous core holes but on a new azimuth of 325 degrees instead of 270 degrees. The geology in the holes looks nothing like the “shark fin”, located only 45 metres above the intercept. The holes contain a spectacularly banded yellow-green quartz and white quartz-calcite +/-adularia vein not seen at the surface and a much thinner calcite matrix breccia than is present at the surface. A summary of the drill holes follows.
Hole PC22-89 (-45 degrees)
|From (m)||To (m)||Thickness (m)||Description|
|0.00||67.90||67.90||Tv upper volcanics|
|67.90||71.34||3.45||Tr2qtz-rhyolite with stockwork quartz|
|71.34||73.54||2.20||QvBx-quartz vein breccia|
|73.54||74.39||0.85||CcBx- calcite matrix breccia|
|74.79||81.71||6.92||YgrQtz- granite with stockwork quartz|
Thicknesses reported are drilled thickness. True thickness is roughly equal to drilled thickness.
Hole PC22-90 (-65 degrees)
|From (m)||To (m)||Thickness (m)|
|0.00||33.84||33.84||Tv – upper volcanics|
|33.84||82.41||48.57||Tvcgl – conglomerate|
|82.41||83.17||0.76||QvBx quartz vein breccia|
|83.17||92.07||8.90||Tr2 – Rhyolite|
|92.07||101.43||9.36||QvBx quartz vein breccia|
|101.43||102.44||1.01||Tr2 – Rhyolite|
|102.74||112.80||10.06||YgrQtz granite with quartz stockwork|
|112.80||124.09||11.28||Ygr – granite|
Thicknesses reported are drilled thickness. True thickness is roughly 87% of drilled thickness.
Banding in the quartz vein breccia below the “shark fin” is much stronger than in any previous intercept of quartz vein breccia. Breccia textures show multiple periods of re-brecciation of vein material with subsequent quartz overgrowths on quartz vein clasts and possible “ginguro” rinds around clasts. Stockwork quartz in granite is similar to that which is exposed in a mineralized hilltop 300 metres to the north, and similar to what was interested 300 metres to the south in last summer’s RC drilling program. The overall thickness of the visually mineralized interval is 13.81 metres and 30.40 metres respectively, thinner than the deepest intercept in hole PR22-88, again suggesting that the mineral system is stronger with depth, or has been truncated near the surface.
Updated geologic sections and photos of core from the completed holes are posted to the web site at: https://arizonasilverexploration.com/philadelphia/.
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 is the Philadelphia property. The company has recently received a positive Record of Decision on its Notice of Intent to drill an initial twelve exploration holes on its recently acquired Silverton gold-silver property that hosts 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 2022 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 2022 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.