(TheNewswire)
Vancouver, British Columbia – TheNewswire - April 18, 2023 – Arizona Silver ExplorationInc. (TSXV: AZS ) ( OTC:AZASF ) is pleased toannounce that it has secured a core drill to test the western edge ofthe recently identified Red Hill CSAMT geophysical anomaly at thePhiladelphia gold-silver project, Mohave County, Arizona.
Mr. Greg Hahn. VP-Exploration comments, “We are excited to be able to contract acore rig at this time of year to test this significant target so soonafter its discovery. If this geophysical anomaly is demonstrated to be part of the Philadelphia gold system it could considerablychange both the size and grade parameters of the project.”
SAMT is a geophysical investigation method forobtaining information about subsurface resistivity. Resistivity valuescalculated from the CSAMT data relate to geology. CSAMT is often usedby mining companies for reconnaissance of larger geographic areas todetermine depth to bedrock and to locate faults and resistiveanomalies potentially related to ore deposits.
Arizona Silver contracted Zonge Geophysics to perform aCSAMT survey in late January (see press release dated February 7,2023). That survey outlined a distinct resistivity low beneath RedHill (see Figure below). The anomaly is interpreted to be a clay capto gold-silver mineralization which underlies the cap. In addition,the western end of the anomaly is marked by a potential “feederzone”, the structural conduit that channeled the hydrothermal fluids(including gold). Such structures are known to host high grademineralization in epithermal systems world-wide.
The Company has permits in hand to drill two core holestotaling 700-750 metres. A steeper hole will test both theinterpreted “feeder” zone to the large flat-lying CSAMT anomalyand the down-dip projection of the high grade hanging wall vein“HW” that has been intersected in multiple drill holes to date. A shallower hole will test the western portion of the CSAMT anomalynear the interpreted feeder zone. Testing of the heart of the CSAMTanomaly below Red Hill will have to await the availability of a drillrig and crew that can drill shallow angle holes. The attachedsection shows the proposed drill hole locations with respect to theCSAMT anomaly.
Alford Drilling of Elko, Nevada has been contracted todo the drilling. The core rig is scheduled to arrive on site themiddle of this week. Results from the recently completed reversecirculation drilling program are awaited.
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 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 2023 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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