(TheNewswire)
Vancouver, British Columbia – TheNewswire - March 15, 2022 – Arizona Silver ExplorationInc. (TSXV: AZS ) ( OTC:AZASF ) is pleased toannounce it has completed three more core holes at the Philadelphiaproject, Mohave County, Arizona. This press release provides ageological summary of the latest holes. See the press release ofFebruary 15, 2022, for a summary discussion of the first two coreholes. To date three core holes have been delivered to the ALSlaboratory 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 releaseis only to keep the market informed of our progress, so we can discussthe geology openly. No assay results have been received to date.That said, the core drilling program is progressing very well. We areintersecting our target at anticipated depths and intervals on all holes. Geologically, the mineral system continues to appear stronger in the deeperholes. We will continue to chase the system down dip, particularly asthe deepest (vertical) hole is only 219 metres below surface. The twocore holes, PC22-89 and PC22-90, into the “shark fin” target isvisually remarkable with respect to vein thickness and textures,however the strength of the mineral system will be defined by theassays.”
Section 1 belowshows 6 drill holes, 3 reverse circulation drill holes from 2021(prefixed PRC), and 3 of the new and deeper core holes (PC). Tworecently complete core holes, PC22-86 and PC22-87 have been describedpreviously. Hole PC22-88 is deeper than both PC22-86 andPC22-87.
A summary of vertical drill holePC22-88 is provided below.
From (m) | To (m) | Thickness (m) | Description | ||
0 | 120.64 | 120.64 | Tv-upper volcanics | ||
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 | ||
194.54 | 197.10 | 2.56 | Fault gouge | ||
197.10 | 201.65 | 4.54 | Tad- andesite dike | ||
201.65 | 218.60 | 16.95 | Ygr- Proterozoic granite |
Thicknesses reported are drilled thickness. Truethickness is roughly 50% of drilled thickness.
The quartz vein breccia (QvBx) consists primarily ofyellow-light green chalcedonic to crustiform andcrenulated banded quartz. Tr2 rhyolite containsmore stockwork quartz, including green and yellow quartz, than in anyprevious hole. The lower portion of the stockwork rhyolite alsocontains zones of calcite veining similar to what characterizes thecalcite matrix breccia (CcBx), but across a wider zone and not in a discretevein-like configuration as in previous holes on the drill section. Inaddition, the stockwork quartz bearing rhyolite is thicker in holePC22-88 than in any previous hole. Together these characteristicsimply the system is strengthening down-dip.
One more core hole will be drilled on this section totest the down-dip continuation of the mineral system below theintercept in hole PC22-88. Total thickness of the visually mineralizedinterval is 73.90 metres.
Section 2 belowis oblique to Section 1. It shows core holes PC22-89 and PC22-90 which tested the “sharkfin”, a prominent outcrop of calcite cemented breccia that containsclasts of quartz vein material and altered Tr2 rhyolite . They were drilledfrom the same drill pad as the previous core holes but on a newazimuth of 325 degrees instead of 270 degrees. The geology in theholes looks nothing like the “shark fin”, located only 45 metresabove the intercept. The holes contain a spectacularly bandedyellow-green quartz and white quartz-calcite +/-adularia vein not seenat the surface and a much thinner calcite matrix breccia than ispresent 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 | ||
74.39 | 74.79 | 0.40 | Fault gouge | ||
74.79 | 81.71 | 6.92 | YgrQtz- granite with stockwork quartz | ||
81.71 | 106.25 | 24.54 | Ygr- granite |
Thicknesses reported are drilled thickness. Truethickness 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 | ||
102.44 | 102.74 | 0.30 | Fault zone | ||
102.74 | 112.80 | 10.06 | YgrQtz granite with quartz stockwork | ||
112.80 | 124.09 | 11.28 | Ygr - granite |
Thicknesses reported are drilled thickness. Truethickness is roughly 87% of drilled thickness.
Banding in the quartz vein breccia below the “sharkfin” is much stronger than in any previous intercept of quartz veinbreccia. Breccia textures show multiple periods of re-brecciation ofvein material with subsequent quartz overgrowths on quartz vein clastsand possible “ginguro” rinds around clasts. Stockwork quartz ingranite is similar to that which is exposed in a mineralized hilltop300 metres to the north, and similar to what was interested 300 metresto the south in last summer’s RC drilling program. The overallthickness of the visually mineralized interval is 13.81 metres and30.40 metres respectively, thinner than the deepest intercept in holePR22-88, again suggesting that the mineral system is stronger withdepth, or has been truncated near the surface.
Updated geologic sections and photos of core from thecompleted holes are posted to the web site at: https://arizonasilverexploration.com/philadelphia/ .
QualifiedPerson
Gregory Hahn, VP-Exploration and a CertifiedProfessional Geologist (#7122) is a Qualified Person under NationalInstrument 43-101 ("NI 43-101") and has reviewed andapproved the technical information contained in this newsrelease.
About Arizona Silver ExplorationInc.
Arizona Silver is a young exploration company focusedon exploring gold-silver properties in western Arizona and Nevada.The flagship asset is the Philadelphia property. The company hasrecently received a positive Record of Decision on its Notice ofIntent to drill an initial twelve exploration holes on its recentlyacquired Silverton gold-silver property that hosts Carlin-typetargets. Drilling there will be scheduled as time and equipment allow.
Please take a moment and listen to Greg Hahn narrateour latest PowerPoint now available on the website link: andvisit our website at: www.arizonasilverexploration.com
On behalf of the Board of Directors:
ARIZONA SILVER EXPLORATIONINC.
Mike Stark, President and CEO,Director
Phone: (604) 833-4278
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
CAUTION CONCERNING FORWARD-LOOKINGSTATEMENTS
This news release includes certain forward-lookingstatements or information. All statements other than statements ofhistorical fact included in this release are forward-lookingstatements that involve various risks and uncertainties.Forward-looking statements in this news release include statements inrelation to the timing, cost and other aspects of the 2022 explorationprogram; the potential for development of the mineral resources; thepotential mineralization and geological merits of the explorationproperties; and other future plans, objectives or expectations of theCompany. There can be no assurance that such statements will prove tobe accurate and actual results and future events could differmaterially from those anticipated in such statements. Importantfactors that could cause actual results to differ materially from theCompany's plans or expectations include the risk that actual resultsof current and planned exploration activities, including the resultsof the Company's 2022 drilling program(s) on its properties, will notbe consistent with the Company's expectations; the geology, grade andcontinuity of any mineral deposits and the risk of unexpectedvariations in mineral resources, grade and/or recovery rates;fluctuating metals prices; possibility of accidents, equipmentbreakdowns and delays during exploration; exploration cost overruns orunanticipated costs and expenses; uncertainties involved in theinterpretation of drilling results and geological tests; availabilityof capital and financing required to continue the Company's futureexploration programs and preparation of geological reports andstudies; delays in the preparation of geological reports and studies;the metallurgical characteristics of mineralization contained withinthe exploration properties are yet to be fully determined; generaleconomic, market or business conditions; competition and loss of keyemployees; regulatory changes and restrictions including in relationto required permits for exploration activities (including drillingpermits) and environmental liability; timeliness of government orregulatory approvals; and other risks detailed herein and from time totime in the filings made by the Company with securities regulators. Inconnection with the forward-looking information contained in this newsrelease, the Company has made numerous assumptions, including that theCompany's 2022 programs would proceed as planned and within budget.The Company expressly disclaims any intention or obligation to updateor revise 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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