(TheNewswire)
Vancouver, B C - TheNewswire - January 24 2023 - ArizonaSilver Exploration Inc. (TSXV: AZS ) ( OTC:AZASF ) announcesassay results from three core holes, PC22-94, PC22-95 and PC22-96 onthe Philadelphia gold project, Arizona drilled in Q4 2022. The Philadelphia property hosts high-grade goldand silver vein targets in Mohave County. The county is home to theOatman Mining District which produced over 2 million ounces of goldfrom high-grade epithermal veins.
The three new holes test part of the Northern Extensionof the portion of the mineralized system that has was our 2021-2022priority. The holes demonstrate the continuity of the mineral system,which remains open down dip and along strike towards undrilledportions of the patented claims leased in 2021. See Figure 1.
All three drill holes intersected wide intervals ofpotentially “bulk tonnage” gold grades, that is grades within theparameters of grades currently being mined in the district.
Mr. Greg Hahn, V.P Explorationstated, “Recently completed surface mapping and samplingdemonstrates continuity at surface of the quartz stockwork system withassociated anomalous gold and silver values continuing northward fromthe locations of these core holes. The surface geochemistry is similarto what is 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.”
Mr. Mike Stark, President and CEO commented,” Arizona Silver has thetreasury and technical resources in place to begin exploration in2023, including drilling, immediately after we finalize contractualarrangements. I expect to release details in the very near future.”
The following table summarizes the drillintercepts.
Q4 2022 Core Drill Results | |||||||||
Thickness* | Thickness* | ||||||||
Hole ID | From (ft) | From (m) | To (ft) | To (m) | (ft) | (m) | Au gpt | Ag gpt | Notes |
PC22-96 | 134.7 | 41.07 | 146.5 | 44.66 | 11.8 | 3.60 | 2.40 | 47.43 | HW Vein |
within | 127.0 | 38.72 | 188.4 | 57.44 | 61.4 | 18.72 | 1.01 | 26.83 | Stockwork quartz |
plus | 259.0 | 78.96 | 264.0 | 80.49 | 5.0 | 1.52 | 4.86 | 8.40 | FW Vein |
within | 249.8 | 76.16 | 307.0 | 93.60 | 57.2 | 17.44 | 0.90 | 3.65 | Stockwork quartz |
all within | 127.0 | 38.72 | 307.0 | 93.60 | 180.0 | 54.88 | 0.71 | 11.46 | total zone |
PC22-95 | 327.8 | 99.94 | 336.0 | 102.44 | 8.2 | 2.50 | 5.10 | 18.34 | HG Vein |
within | 324.1 | 98.81 | 351.2 | 105.61 | 27.1 | 6.80 | 3.79 | 16.18 | Vein Zone |
within | 276.3 | 84.24 | 424.5 | 129.42 | 148.2 | 45.18 | 0.98 | 8.98 | Stockwork quartz |
within | 259.0 | 78.96 | 461.0 | 140.55 | 202.0 | 61.59 | 0.78 | 7.64 | Total zone |
PC22-94 | 99.0 | 30.18 | 178.0 | 54.27 | 79.0 | 24.09 | 0.51 | 1.58 | Stockwork quartz |
and | 256.0 | 78.05 | 290.0 | 88.41 | 34.0 | 10.37 | 0.41 | 1.84 | Stockwork quartz |
Total | 113.0 | 34.45 | 0.48 | 1.66 | Combined zones | ||||
* True Thickness is ~50-60% of DrillThickness |
Core hole PC22-95 was drilled from a pad locatedapproximately 50 metres north of previously completed RC and coreholes PRC22-81 thru PC22-88. It intersected the target from 79-140.5metres (61.5 metres thick), within predominantly rhyolite breccia,grading 0.71 grams per tonne (“gpt”) gold (Au) and 11.46 gptsilver (Ag). The FW vein breccia was intersected from 94.94 –102.44 meters (2.5 metres thick) grading 5.10 gpt Au and 18.34 gpt agwithin a thicker vein zone from 98.81-105.61metres (6.74 metres thick)grading 3.79 gpt Au and 16.18 gpt Ag, consisting primarily of yellowquartz clasts in a variably banded and bladed calcite matrix. Minorvisible gold was identified in some of the yellow quartz clasts. Thebalance of the mineralized intercept is composed of quartz and calcitestockwork in rhyolite breccia.
Core hole PC22-96, a vertical hole, was collared 225metres north and west of hole PC22-95 and located to test themineralized structure below a 1981 Meridian Gold reverse circulationdrill hole. PC22-96 intersected both the HW and FW vein within apackage of strong to intense stockwork quartz with minor calcite from38.7 - 93.6 metres (54.44 metres thick), in both rhyolite and granitebreccia, carrying 0.71 gpt Au and 11.48 gpt Ag. The HW and FW veinscarried 3.6 metres at 2.4 gpt Au and 47.43 gpt Ag and 1.52 gpt Au and8.4 gpt Ag respectively, The drill hole intersects mineralizationapproximately 116 metres below the surface where gold in stockworkquartz is exposed. The intercept demonstrates that the mineralsystem continues and remains open both along strike and down dip fromprevious drill intercepts, which will be the focus of continueddrilling in 2023.
Core hole PC22-94 was a vertical hole drilled from thesame pad as hole PC22-95, and intersected the mineralized zone high inthe hole from 30.01-54.27 metres and lower down from 78.2-88.41metres. These intercepts are up-dip from the intercept in holePC22-95 and at a shallower depth than the intercept in hole PC22-96,consisting primarily of weak stockwork quartz in predominantly granitewith no evidence of the
HW and FW veins present. We interpret this interceptto be above the boiling zone given the absence of the high grade veinscarrying boiling zone textures and the dominance of weak stockworkmineralization.
QA/QC Program
All core was delivered to the ALS sample preparationfacility in Tucson, Arizona for photographing, sawing, sampling, andsample preparation. All assaying will beconducted by ALS Global, an independent analytical laboratory. Corewas trucked to the ALS sample preparation facility in Tucson, Arizona,where the samples were inventoried, dried, crushed and pulverized. Pulverized splits were sent to the ALS analytical facility inVancouver, British Columbia for analyses. All material handling isdone under a strict chain of custody protocol. Gold is determined byfire assay with an AA finish and silver is determined by ICP-MSmethods 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 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. 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 2023 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 ofmineralization contained within the exploration properties are yet tobe fully determined; general economic, market or business conditions;competition and loss of key employees; regulatory changes andrestrictions including in relation to required permits for explorationactivities (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 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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