(TheNewswire)
Vancouver, British Columbia – TheNewswire - May 16, 2023 – Arizona Silver ExplorationInc. (TSXV: AZS ) ( OTC:AZASF ) is pleased toannounce that it has completed the first deep core hole to test thedown-dip continuity of high-grade gold-silver mineralization at thePhiladelphia gold-silver project, Mohave County, Arizona. This releaseis a geological description of the drill hole only as assays have notyet been received.
HIGHLIGHTS :
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Hole PC23-111 has been completed to a depth of 319.5metres.
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Results have confirmed the down-dip extensions of boththe Hangingwall (HW) and Footwall (FW) vein systems.
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A third new vein, called the Upper Vein, wasintersected.
Mr. Greg Hahn. VP-Exploration comments, “We arepleased that we continue to hit the dominant veins in the system as wedrill deeper, and the thickness of the FW vein has not only increasedbut the character of the vein appears to be improving with the loss ofcalcite and the increase in silica. The discovery of a new uppervein is also exciting, as it portends the potential for additionalveins as we get deeper into the system.”
DRILLING RESULTS
Drill hole PC23-111 was drilled from the same drill padas previous hole PC22-91, which was terminated in calcite-cementedquartz vein breccia containing + 2 grams per tonne (gpt) gold. HolePC23-111 was designed to test the known HW (hangingwall) and FW(footwall) veins 30-40 metres below the intercepts in holePC22-91.
Hole PC23-111 intersected the HW from 230.59-231.59metres depth and the FW vein was intersected at 275.15-285.12 metresdepth down hole. In addition, a new vein was intersected from187.26-190.95 metres.
The new Upper Vein is composed of calcite cementedquartz breccia, with a dominant calcite matrix. This is very typicalof many vein intercepts higher up-dip in the system at Philadelphia. We have not seen this vein in previous drilling, suggesting we maybe getting closer to the source of the fluids that produced theveins.
The HW vein intercept is typical of HW vein interceptsin previous drilling. The FW vein however is markedly different fromthe FW vein intercepts in the up-dip holes. The higher-levelintercepts up-dip are characterized by calcite-cemented matrix, asobserved in the Upper Vein in this hole. The FW vein in PC23-111 hasonly a very thin (~10 cm) portion of bladed calcite textures andvirtually no calcite. Instead, it is composed almost entirely offine grained saccharoidal - textured quartz vein clasts, with occasional banding and darkstreaks. The transition from calcite-cemented breccia tosilica-cemented breccia is an indication we are deeper in the boilingzone and below the dilutive influence of late-stage barren calcite. The FW vein appears to have flattened appreciably, as it wasintersected higher in the hole than anticipated. Up-dip the veinappears to maintain a steady -70 degrees dip, whereas in PC23-111 thevein appears to have flattened to -55 degrees, based upon the crosssection and the angles of fractures and banding to the core axis. TheFW vein intercept is nominally 35-40 metres down-dip from the veinintercept in hole PC22-91, indicating how quickly the character of thevein can change at the boiling zone transition. A cross section andphotos of the FW vein in core are posted to the website at
https://arizonasilverexploration.com/philadelphia/
On February 7, 2023 the Company announced the Red Hillstarget, a geophysical (CSAMT) anomaly beneath Red Hill, a prominentaltered hill immediately east of the known veins at Philadelphia. Core hole PC23-111 crossed a low resistivityfeature interpreted to be the “feeder zone” to the main CSAMTanomaly. We believe this low resistivity feature is caused by anincrease in clay alteration and iron oxides (formerly pyrite) onfractures that mimic the trend of the low resistivity feature above.The FW vein intercept falls within the low resistivity feature. Nofresh pyrite was visible in the core however, except occasionallybelow the FW vein in the underlying Proterozoic granite.
Continued Drilling
Core drilling continues with a new -45 degree hole fromthe current pad location designed to test the western portion of thelow resistivity CSAMT anomaly that is believed to be a clay cap abovethe boiling zone and mineralization associated with the Red Hillstarget. This will be the first drill hole into this targetarea.
QA/QC Program
Core from hole PC23-111 has been delivered to the ALS samplepreparation facility in Tucson, Arizona, where the core will becatalogued, sawed, sampled, crushed, and pulverized. Pulverizedsplits are sent to the ALS analytical facility in Vancouver, BritishColumbia for analyses. All material handling is done under a strictchain of custody protocol. Gold is determined by fire assay with anAA finish, with a gravimetric finish on samples greater than 10 gramsper tonne gold, and silver is determined by ICP-MS methods within a31-element suite.
The Company maintains its own program of inserting Standard Referencematerial in the form of standards and blanks to the sampling stream,prior to being shipped to ALS's preparation facility in Tucson,Arizona, in addition to the independent QA/QC protocols of ALS 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 2023 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. Important factors that could cause actual resultsto differ materially from the Company's plans or expectations includethe risk that actual results of current and planned explorationactivities, including the results of the Company's 2023 drillingprogram(s) on its properties, will not be consistent with theCompany's expectations; the geology, grade and continuity of anymineral 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 forexploration activities (including drilling permits) and environmentalliability; timeliness of government or regulatory approvals; and otherrisks detailed 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 programs would proceed as planned and within budget. The Companyexpressly disclaims any intention or obligation to update or reviseany forward-looking statements whether as a result of new information,future events or otherwise, except as otherwise required by applicablesecurities legislation .
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