(TheNewswire)
Vancouver, British Columbia, TheNewswire, December 7, 2022 – Arizona Silver ExplorationInc. (TSXV: AZS ) ( OTC:AZASF ) announcesdrilling of three core holes, PC22-94, PC22-95 and PC22-96 on thePhiladelphia gold project, Mohave County, Arizona. A core drill hadbecome available from a nearby project enabling the Company tocomplete a short program before it was committed elsewhere.
Core hole PC22-94 was drilled 50 metres north of themineralized intercept encountered in hole PC22-90, which intersected8.02 metres at 7.5 grams per tonne (gpt) gold (Au) and 29.07 gptsilver (Ag) within a total mineralized intercept of 31.0 metres at2.38 gpt Au and 10.58 gpt Ag. Hole PC22-94 intersected themineralized zone high in the hole from 32 to 84 metres depth. Theupper hanging wall (“HW”) vein breccia was intersected at 32.5metres depth. Visible gold was present in the form of fine wires onfractures at a depth of 47.5 metres.
Core hole PC22-95 was drilled from the same pad as holePC22-95 but oriented south to intersect the mineralized zone at agreater depth than in PC22-94 It intersected the target from 71 to122 metres. The upper HW vein breccia was intersected at 84.1 metresdepth and the lower footwall (“FW”) vein breccia was intersectedat 98.8 metres. The FW vein breccia was 6.1 metres thick and consistedprimarily of yellow quartz clasts in a variably banded and bladedcalcite matrix. Minor visible gold was identified in some of theyellow quartz clasts. The balance of the mineralized intercept iscomposed of quartz and calcite stockwork in rhyolite breccia.
Core hole PC22-96, a vertical hole, was collared 225metres north of holes PC22-94 and PC22-95 to test the mineralizedstructure below a 1981 Meridian Gold reverse circulation drill hole. The new hole intersected strong to intense stockwork quartz withminor calcite from 38.4 metres to 91.8 metres, mostly in rhyolitebreccia. Abundant visible gold was identified in prominent greenquartz veins from 81 metres to 83.5 metres in brecciatedandesite.
The three new holes test part of the Northern Extensionof the portion of the mineralized system that has been our 2021-2022priority. The holes demonstrate the continuity of the mineral system,which remains open down dip and along strike to the north towardsdrilling completed in 2019 and 2020. That drilling was north ofpatented claims that weren’t available for drilling until 2021-2022,a distance of over 500 metres. That part of the deposit is yet to bedrilled. Please clickhere to view the drill planmap.
Assay results will be reported after they becomeavailable, along with an appropriate plan map and sections.
Recently completed surface mapping and samplingdemonstrates continuity at surface of the quartz stockwork system withassociated anomalous gold and silver values. That is similar to whatis evident at surface southward along the vein structure wheredrilling demonstrated increased thickness and grade with depth. Ourinterpretation is that we are at the very top of the boiling zonealong the entire outcrop horizon of the mineral system.
QA/QC Program
All core has been delivered to the ALS samplepreparation facility in Tucson, Arizona for photographing, sawing,sampling, and sample preparation. All assayingwill be conducted by ALS Global, an independent analytical laboratory.Core was trucked to the ALS sample preparation facility in Tucson,Arizona, where the samples are inventoried, dried, crushed andpulverized. Pulverized splits are sent to the ALS analyticalfacility in Vancouver, British Columbia for analyses. All materialhandling is done under a strict chain of custody protocol. Gold isdetermined by fire assay with an AA finish and silver is determined byICP-MS methods within a 31-element suite.
The Company maintains its own program of insertingStandard Reference material in the form of standards and blanks to thesampling stream, prior to being shipped to ALS's preparation facilityin Tucson, Arizona, in addition to the independent QA/QC protocols ofALS Global.
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 and the subject ofthis news release.
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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