(TheNewswire)
Vancouver, British Columbia – TheNewswire - February 16, 2021 – Arizona Silver Exploration Inc (TSXV: AZS ) (OTC:AZASF) is pleased to report that it hassigned a lease agreement with the owner of the Perry Patented Claimadjacent to our unpatented lode mining claims at the Philadelphiaproperty. The Perry Patented Claim contains the continued southernstrike extension of the Arabian Fault and the vein that hosted theArabian Mine in the early 1900s. The vein is exposed for most of theentire 1250’ length along the axis of the claim and contains severalprospect pits and shallow mine workings along the outcrop expressionof the vein, some with visible gold present at the surface. The veinhas never been drilled within the boundaries of the Perry PatentedClaim. Company lode mining claims lie adjacent to and further alongstrike to the south covering the continuation of the Arabian Fault andthe associated vein south from the Perry Patented Claim for another4500 feet of strike length. Road access is available on the claimimmediately adjacent to the vein.
Mapping and sampling along the axis of the vein will commenceimmediately. Drilling will commence once data are received andrecorded and studied, and highest priority targets are identified.
Terms of the lease call for an annual fixed lease payment that hasalready been made, with unrestricted access to test, sample, anddrill.
“Patented property provides easier access to drilling without therequirement of permitting with federal agencies. This agreement is theculmination of two years of negotiations and adds substantial drilltargets to increase overall value to the Philadelphia property”,stated Mike Stark, CEO.
QualifiedPerson
Gregory Hahn, VP-Exploration and a Certified Professional Geologist(#7122) is a Qualified Person under National Instrument 43-101("NI 43-101") and has reviewed and approved the technicalinformation contained in this news release.
About Arizona Silver ExplorationInc.
Arizona Silver is a young exploration company focusedon exploring underexplored gold-silver properties in western Arizonaand now Nevada. The Company plans to continue to drill test the RamseySilver Mine property located a short distance east of Quartzsite,Arizona as time allows. The Company has recently received a positiveRecord of Decision on its Notice of Intent to drill an initial eightexploration holes on its recently acquired Silverton gold-silverproperty with carlin-type targets. Drilling there will be scheduled astime and equipment allow.
Please refer to our web site for all news and updatedproperty information.
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 2020-2021exploration program; the potential for development of the mineralresources; the potential mineralization and geological merits of theexploration properties; and other future plans, objectives orexpectations of the Company. There can be no assurance that suchstatements will prove to be accurate and actual results and futureevents could differ materially from those anticipated in suchstatements. Important factors that could cause actual results todiffer materially from the Company's plans or expectations include therisk that actual results of current and planned explorationactivities, including the results of the Company's 2020-2021 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's2020-2021 programs would proceed as planned and within budget. TheCompany expressly disclaims any intention or obligation to update orrevise 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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