(TheNewswire)
Vancouver, British Columbia – TheNewswire - May 06, 2024 – Arizona Gold & Silver Inc. (TSXV: AZS ) ( OTC:AZASF ) is pleasedto share progress on reverse circulation (RC) drilling on thePhiladelphia Gold-Silver Property, located in Mohave County,Arizona.
Mr. Greg Hahn, VP Exploration commented, “Drilling is testing the 400 metrestrike length of the Resaca patented claim, a segment of the Philadelphia vein system that had not been previously drilled. The area being tested has 5-20metres of alluvial cover. It is bounded to the north by old mineworkings and to the south by extensive exposures of stockwork quartzon the Rising Fawn claim. Prior drilling on the Rising Fawnintersected thick intercepts of gold mineralization below stockworkquartz outcrops. Current drilling has intersected stockwork quartz inall 18 drill holes completed to date, a positive sign that goldmineralization continues beneath the alluvial cover”.
This program will complete drill testing of the shallow portion of the Philadelphia vein system to help establish priorities for deeper drilling. Drilling commenced the week of April 10 and has progressed southerly from the
the north end of the Resaca claim, immediately south ofthe historic R1 shaft. To date we have completed 18 holes along astrike length of some 300 metres. Quartz stockwork mineralization hasbeen intersected in all holes with several holesintersecting the HW and FW veins that form the upper/lower limitsto the stockwork zone. The stockwork zone ranges from 10 to 55 metres in thickness. Visible gold has occasionally been panned from selected drillcuttings.
Preliminary drill sections showing the holes completedand the extent of visible quartz stockwork mineralization are postedto the web site Philadelphia Property – ArizonaSilver Exploration (arizonagoldsilver.com) .
Samples from the first 14 holes have been delivered to the ALS sample preparation facility in Tucson Arizona where they will beanalyzed for gold via fire assay and silver by 31-element ICPanalysis.
The drilling crew will take a 10-day break and return mid-May to complete the proposed drilling program.
Gregory Hahn, VP-Exploration and a CertifiedProfessional Geologist (#7122) is a Qualified Person underNational Instrument 43-101 ("NI 43-101") and has reviewed and approved the technical information contained in this newsrelease.
About Arizona Gold & Silver Inc.
Arizona Silver is a young exploration company focused on exploring gold-silver properties in western Arizona and Nevada. The flagship asset is the Philadelphiagold-silver property where the Company is drilling off an epithermalgold-silver system.
On behalf of the Board of Directors:
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 theadequacy or accuracy of this release.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This news release includes certain forward-looking statements orinformation. All statements other than statements of historical factincluded in this release are forward-looking statements that involvevarious risks and uncertainties. Forward-looking statements in thisnews release include statements in relation to the timing, cost andother aspects of the 2024 exploration program; the potential fordevelopment of the mineral resources; the potential mineralization andgeological merits of the exploration properties; and other futureplans, objectives or expectations of the Company. There can be noassurance that such statements will prove to be accurate and actualresults and future events could differ materially from thoseanticipated in such statements. Important factors that could causeactual results to differ materially from the Company's plans orexpectations include the risk that actual results of current andplanned exploration activities, including the results of the Company's2024 drilling program(s) on its properties, will not be consistentwith the Company's expectations; the geology, grade and continuity ofany mineral deposits and the risk of unexpected variations in mineralresources, grade and/or recovery rates; fluctuating metals prices;possibility of accidents, equipment breakdowns and delays duringexploration; exploration cost overruns or unanticipated costs andexpenses; uncertainties involved in the interpretation of drillingresults and geological tests; availability of capital and financingrequired to continue the Company's future exploration programs andpreparation of geological reports and studies; delays in thepreparation of geological reports and studies; the metallurgicalcharacteristics of mineralization contained within the explorationproperties are yet to be fully determined; general economic, market orbusiness conditions; competition and loss of key employees; regulatorychanges 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 risksdetailed herein and from time to time in the filings made by theCompany with securities regulators. In connection with theforward-looking information contained in this news release, theCompany has made numerous assumptions, including that the Company's2023-2024 programs would proceed as planned and within budget. TheCompany expressly disclaims any intention or obligation to update orrevise any forward-looking statements whether as a result of newinformation, future events or otherwise, except as otherwise requiredby applicable securities legislation.
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