(TheNewswire)
Vancouver, British Columbia – TheNewswire - January 19, 2022 – Arizona Silver ExplorationInc. (TSXV: AZS ) ( OTC:AZASF ) todayreleased a year-end letter from Mike Stark, CEO, to the Company’sshareholders. The letter follows below and can also be accessed fromthe Company’s website at www.arizonasilverexploration.com
Greetings Shareholders,
We at Arizona Silver can celebrate the progress we madein 2021. This newsletter highlights our accomplishments and signals toshareholders our planned activities going forward.
Our Company has four properties in Arizona butinvestors are focusing on the exciting results emerging from our Philadelphiaproject . We have discovered gold in multiplezones and look forward to drilling the depth extent and linkagesbetween those zones. Importantly we have demonstrated potentiallyeconomic grades, not only in the primary vein target but in thesurrounding rocks.
The following information tracks the property fromnorth to south. We now control the entire 3 km. strike length but thatis a recent development. Prior to the latest agreement we could onlydrill on the claims we owned or leased at the time.
Early in 2021 we drilled multiple high-grade holes atthe north end of the property on the Mamie claim. Despitethe high grades, the vein did not persist below 100 metres. The nexttwo claims to the south of these intercepts and along the strike ofthe vein are the Resaca andRising Fawn patented claims. These claimsaccounted for approximately 40,000 ounces of gold production at agrade of 0.4 oz/ton. We negotiated on these claims for over two yearsand in August 2021 announced a lease agreement. Exploration can nowproceed.
At the southern end of the
Rising Fawn
claim is a prominent outcrop of brecciated quartz veinwe refer to as the “Shark Fin”. This prominent, yet undrilledfeature is part of the target zone. Our first fence of holes in theupcoming core drilling campaign will test this feature.
Photo of the Shark Fin – a brecciated quartz vein atthe south end of RisingFawn
We negotiated an agreement on the third patented claimin line to the south, the Perry claim earlier in the year. Mid year wesecured a reverse circulation drill rig to test the Perry vein, acontinuation of the vein system exposed and tested to the north. Sampling of the vein had indicated gold was present but texturessuggested we were above the boiling zone where gold and quartz wouldmost likely have precipitated. The targetshows quartz vein breccia across an excellent width of 10-15 metres, awidth that made it a compelling target.
We drilled a fence of three holes about 50 metres southof the Shark Fin. One of the holes returned a vein intercept of 3meters at 16.9 grams per tonne gold within a broad zone of stockworklow-grade gold mineralization. The rig then moved about 300 metresfurther south on the Perry claim to drill several fences of holesacross the target zone. The terrain between the two areas wasinaccessible at the time due to terrain challenges. All holesintersected gold at the location of the vein. Above and below the veinwas an envelope of iron staining, clay alteration and stockworkquartz. Assays from both the vein and the altered rock showedincreasing thickness and gold grades with depth.
Drill holes PRC21-80 and PRC21-85, our deepest holes ofthis program intersected both the vein and low-grade mineralizationover total drill intercepts of +100 metres. The low-grade envelope is+1 gram per tonne gold, a grade that is amenable to mining by open pitin numerous bulk tonnage operations. Importantly, the mineralizationis open in all directions. We refer to the 300 metre long gap betweenthe two drill sections as the “Gap Zone’.
View of the iron-stained rhyolite dome cap from drillsite PRC21 -85.
The Arizona Silver website includes a geological modelto explain our interpretation of how the gold is emplaced and itsrelationship to a feature known as the rhyolite flow dome. The photoabove shows the red (hydrothermally altered) rocks characteristic ofthat feature. Our interpretation of the dome is that it potentiallyacted as a cap (over 50 metres thick) above the gold (“boilingzone’) by 100 metres. Based on our modeling, deeper drilling isexpected to generate intercepts that are both higher grade andthicker.
The Company is anxious to resume drilling, not just onthe Gap Zone, but on the entire strike length up to and including the Shark Fin and RisingFawn areas. During a December site visit themessage was “Mike, this project is a no-brainer - the Company simplyhas to drill and the results will come. Get on to it.” Indeed, wehave established multiple gold bearing zones that simply need to belinked with drilling. Given the 3000 metre length of the vein systemas we know it, and the low-grade envelope demonstrated on the Perry claim, the project offers significant tonnage potential.Drilling is targeted to resume on February 1, 2022.
Our three other properties remainunder care and maintenance. A drilling permit with the BLM at the Silverton Property allows for 12 holes. It has been approved and bonded. Thisproperty has large scale potential, being compared to the Long Canyongold deposit currently in operation by Newmont.
The RamseyProperty is permitted for 8 more holes. Drillingpads are complete on the patented ground. Ramsey has shown goodsilver values in the holes completed to date and clearly warrants muchmore drilling. We believe we have just scratched the surface of thisopportunity.
The SycamoreCanyon Property has tried our patience for suredue to permitting delays. I hope to share news in Q1-2022 onpermitting developments.
In summary, we remain committed to Philadelphia simplybecause it has shown the highest value to shareholders, with ourresults speaking for themselves. Please stay informed by referring toour website as we update it regularly. I always enjoy the phone callsfrom you. Check out:
https://arizonasilverexploration.com/stockinformation/
From our team to you, have a safe,healthy and prosperous 2022!
Mike Stark
President and CEO
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 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's2022 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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