(TheNewswire)
Vancouver, B C - TheNewswire - March 20, 2023- Arizona Silver Exploration Inc. (TSXV: AZS ) ( OTC:AZASF ) is pleased toadvise that it has completed its’ first 2023 reverse circulation(“RC”) drilling program at the Philadelphia epithermal gold-silverproject in Mohave County, Arizona. The program consisted of 12 holesfor a total of 1256 metres. Assay results are awaited.
Five holes were completed on one of three patentedclaims known as the Rising Fawn Zone. All holes in the Rising FawnZone cut stockwork quartz mineralization as anticipated in a rhyolitedike and footwall granite. Importantly , panning of the selected drill cuttings revealedvisible gold in several of the drill holes.
Seven of the holes were drilled in the GAP located inthe Perry Zone, from a newly established drill pad in the centralPerry claim. The new GAP drill holes intersected prominent green togray quartz in a hanging wall (“HW”) vein in six of the sevenholes. The vein is immediately beneath the overlying alteredvolcanics. Mineralization continued below the HW vein in the form ofsilicification and stockwork quartz veins in the host rhyolite dikeand underlying Precambrian granite. All seven holes had goodintervals of silicification and stockwork quartz. Gold panning ofdrill cutting rejects from the HW vein zone from two of the drillholes in the GAP revealed visible gold. Panning of drill rejects inthe other GAP holes was not performed.
Geological sections will bereleased when available.
Greg Hahn, VP-Exploration comments: “We have drilled1.7 kilometers of strike length and up to 250 metres of dip to date onthis impressive mineral system. Some gaps remain to be drilled butoverall the system is well mineralized throughout the area drilled todate and remains open along strike in both directions and down dip. Outcrops of the main vein system continue south for another 1.4kilometers but have never been drilled.
“The Company has established 10 drill sites to testthe Resaca Zone on patented claims in an upcoming drilling campaign.The Resaca Zone has never been drilled but shows excellent silver andgold geochemistry from outcropping stockwork quartz in the hostrhyolite dike. North of the Resaca Zone on unpatented claims theCompany had previously completed 60 drill holes for a distance of atleast another 500 metres north of the patented claim boundary. Morethan half of those holes intersected high grade vein and adjacentstockwork quartz mineralization.”
The Company is currently permitting 40 holes fromseveral drill sites on claims within Bureau of Land Management lands.These holes will test the down dip continuation of the Perry Zone andthe recently identified strong CSAMT anomaly beneath the Red Hillsbulk tonnage target.
Samples from all twelve holes will be shipped to theALS sample preparation facility in Tucson, Arizona. Pulps will beshipped to the ALS analytical facility in Vancouver, BC forassaying.
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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