(TheNewswire)
Vancouver, British Columbia – TheNewswire - August 09, 2022 – Arizona Silver ExplorationInc. (TSXV: AZS ) ( OTC:AZASF ) announcesdrill results from two core holes, PC22-93 and PC22-92T from thePhiladelphia gold project, Mohave County, Arizona. Core hole PC22-93was drilled 350 metres north of the northernmost core holes completedearlier in the program. This hole successfully extends the strikelength of the mineral system drilled to date to +750 meters, with gapsin the drill pattern to be drilled as the next priority. Core HolePC22-92T was intended to be a twin of reverse circulation holePRC21-85 for quality control purposes. Unfortunately, it intersected asignificant fault zone and suffered poor recoveries as a result. Italso deviated from the intended azimuth by 20 degrees and thereforewas not a valid twin.
Core Hole PC22-93
Core hole PC22-93 was drilled north of ArizonaSilver’s previously announced core holes. It tested below aprominent ridge on the Rising Fawn claim that had caught the attentionof Meridian Gold in 1982. They drilled 14 shallow RC holes on the topof the ridge to test abundant gold-bearing quartz veins mostly ingranite. As drill logs or geology are not available from that program,PC22-93 was drilled below the Meridian holes to provide a geologicalframework for our program. The hole successfully intersected goodquartz vein mineralization in the upper portion of the hole.
The interval 27.84 to 46.01 metres (18.17 metres)averaged 1.20 grams per tonne (gpt) gold and 13.31 gpt silver within abroader interval, 27.84 to 67.99 metres (40.15 metres) that averaged0.78 gpt Au and 8.79 gpt Ag, in both rhyolite dike and footwallaltered granite. The gold-silver mineralization was terminated by aclay rich fault zone. Below the fault was barren propylitic granite. Asingle hole does not provide a handle on the orientation of thisfault. Additional drilling is planned to test the quartz veinmineralization along strike both above and below the fault to expandthe strike and dip of mineralization and to determine the geometry ofthe fault plane as a guide to deeper drilling.
Core Hole PC22-92T
Core hole PC-22-92T was intended to be a twin of RChole PRC21-85 which intersected 115.85 metres of 1.34 grams per tonne(gpt) Au and 5.79 gpt Ag. Core hole PC22-92T was set up about onemetre away from the collar of RC hole -85 but deviated by about 20degrees off azimuth to terminate about ten metres from the bottom ofRC hole-85.
Core hole PC22-92T intersected a zone of mineralizationfrom 119.51-154.57 metres (35.05 metres) averaging 0.85 gpt gold and5.27 gpt silver, including an upper vein intercept of 5.32 gpt goldand 13.7 gpt silver from 121.04-122.1 metres, all within a very broadzone from 50.91-188.41 metres (137.5 metres) averaging 0.41 gpt goldand 2.22 gpt silver, as defined by an outer cut-off of 0.2 gpt gold.
The upper 71 metres of the intercept was in the hangingwall volcanics without any attendant quartz veining. The hostlithologies in the core hole are identical to those encountered in RChole PRC21-85 but all contacts are approximately 30 meters deeper inthe core hole than in the adjacent RC hole. This provides evidence fora steep fault separating the two holes. In fact the core hole appearsto have gone down a fault zone, with many intervals of crushed andbroken rock and poor to no recovery. As a result, we do not considerdo hole PC22-92T to be a fair “twin” of PRC21-85.
Both drill hole intercepts are approximately truewidths.
Program Going Forward (reference NewsRelease dated June 21, 2022)
The Northern Extension
From the site of the PC-22-93 drill hole reported inthis release, we plan to drill southward to the Shark Fin area towardsexcellent holes PC-22-86 thru PC22-91. This open extension to theShark Fin area is expected to host both vein and stockworkmineralization over a width of 30-80 metres. Up to 26 RC drill holes(~5000 metres) have been designed to test a target area approximately500 metres long. First pass drilling will test the area to avertical depth of approximately 100 metres.
The Southern Gap
From the site of the PC-22-91 reported in the June 21,2022 news release, we plan to drill to the south for a strike lengthof 300 metres. This Southern Gap is bounded to the south by an arrayof Arizona Silver drill holes, including drill hole PC-22-92T reportedin this news release. This target area is scheduled for drilling whenwe can get a core rig back on the property.
Mr. Greg Hahn, Vice President, Exploration commented, “Core hole PC22-93 is our first drill holenorth of drill hole PC22-86 through PC22-91 which all intersected goodgold mineralization in the upper vein and stockwork zone beneath theupper vein. Hole PC22-93 is located 350 metres north of the previouslydrilled core holes beneath a hill of very prominent gold-bearingquartz veins. The results of this hole are encouraging and requireus to follow up with additional drilling to flesh out the extent ofthe gold bearing quartz veins along the entire strike length of thehill which is about 450 meters.
“We now have gold mineralization in drill holes along750 metres of strike length and + 200 metres of dip extension thatneeds to be fleshed out with additional drilling. The gold zoneremains open along strike and down dip. Recent and ongoing geologicmapping and sampling north of hole PC22-93 for a distance of another500 metres demonstrates abundant white quartz veining and stockworkmineralization on the ridge that has never been drilled. Again, thisarea needs to be drilled and is all on patented claims. I look forwardto a resumption of drilling following the summer heat.”
Geologic and assay section for the hole is posted tothe web site at :
https://arizonasilverexploration.com/wp-content/uploads/2022/08/SectionD_7Aug2022_Layout-PRa.pdf
QA/QC Program
All assaying was conducted by ALS Global, anindependent analytical laboratory. Core was trucked to the ALS samplepreparation facility in Tucson, Arizona, where the samples areinventoried, dried, crushed and pulverized. Pulverized splits aresent to the ALS analytical facility in Vancouver, British Columbia foranalyses. All material handling is done under a strict chain ofcustody protocol. Gold is determined by fire assay with an AA finishand silver is determined by ICP-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. 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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