Arizona Silver Announces A New High-Grade Gold-Silver Intercept At Philadelphia Gold Silver Property In Arizona

2020-09-02 / @thenewswire

(TheNewswire)

Highlights:

The first core hole of 2020 returns high grade gold-silver intercept in the target vein, as follows:

-23.35 grams/tonne (gpt) Au, 82.3 gpt Ag & 340 ppm of Beryllium over 1.5 metres, within a thicker interval of 18.45 metres containing 3.81 gpt Au and 49.21 gpt Ag & 113 ppm of Beryllium, beginning at a depth of 5.18 metres immediately below alluvium.

-Similar looking vein intercepts in three other core holes completed to date that have been delivered to the lab and are in progress.

-Core drilling continues for an additional 4 holes min.

Vancouver, British Columbia – TheNewswire - September 02, 2020 – Arizona Silver Exploration Inc (TSXV:AZS) is pleased to report the first assay results from its recently commenced core drilling program on the Company's Philadelphia gold-silver project located in Mohave County, Arizona. The exploration work is focused on the northern strike extension from old high-grade underground mine production during the first half of the 20th century, where high-grade intercepts were reported previously (November 13, 2019).

The previously reported 2019 diamond drill program intersected the shallow strike extension 30 metres (“m”) to the north of the gold-silver zone identified in initial RC (reverse circulation) drill holes. Hole PRC19-2 intersected 15.8 gpt Au and 90 gpt Ag over 3.1m as reported in the Company's May 15, 2019 news release. Core hole PC19-2T twinned that hole to evaluate the detailed distribution of gold in the vein at this location, to confirm veracity of RC sampling and compare RC and core sampling and assaying results, and to test for any potential for down-hole contamination in the RC drilling and sampling methods, and intersected similar results. In addition, the high-grade vein interval of 2.3 m in hole PC19-2T contains 497 gpt Be, the highest beryllium grades reported from the property to date.

Subsequent step-out drilling to test significant strike and dip extensions of these intercepts encountered gold-silver mineralization in a quartz-calcite vein that was interpreted as a faulted extension of the vein intersected in the initial RC and core holes. However, these 2019 and 2020 drill holes did not contain comparable gold and silver values, and importantly contained very low beryllium values. These results did not comport with an interpretation that we were drilling the down-dip and along strike extension of what we had encountered previously.

A new geologic interpretation suggested that all drill holes from PRC19-3 through PRC20-33 drilled into a second vein on the property that is hanging wall to (above) the primary vein that was intersected in the initial drilling. That hanging wall vein has a different geochemical signature than the primary vein. A core rig was brought back to the property to revisit the possibility that the primary vein intersected in our earlier drilling had a steeper dip than the dip reflected in the historical workings, and the possibility that the previous drill holes completed to test the strike and dip extensions of the primary vein were terminated prematurely to adequately test the primary vein target.

Four core holes have been completed to date and all four have hit the primary vein target down dip from the previous high-grade intercepts and below the terminus of some of our previously completed shallow drill holes. These intercepts indicate the dip of the vein is much steeper than previously though and reflected in the old workings, being closer to 70-90 degrees eastward rather than the 50-60 degrees eastward reported in the old mine workings. The results of this first core hole and its beryllium content support that we have intersected the primary vein target.

Arizona Silver’s Vice President – Exploration, Greg Hahn, commented, "The newest drill results confirm our suspicions that we had lost the primary vein target and were drilling a second but lower grade vein in our previous attempt to chase the primary vein along strike and down dip under alluvial cover. The results of the current drilling put us back on target to chase the primary vein with a steeper dip than previously anticipated. The drill hole collar is located in the UTM Zone 115, 733,476.77E, 3,897,529.66N, bearing 300 degrees with an inclination of 70 degrees. The true width is unknown at the time due to insufficient data points. The primary vein target remains wide open along strike and down dip. Significantly, we now know that the vein crosses lithology and is not floored by granite everywhere. We have now encountered granite in the hanging wall of the vein, where previously granite was interpreted to be always footwall to the vein. This knowledge opens up the extensions to the vein in all directions, especially where we terminated shallow holes in granite, thinking we were below the vein."

Summary Table of Core Drill Results

-------------------------------------------------------------- |Hole |From|To |Thick.|(metres)|gpt |gpt |Be |opt |opt | |ID |(ft)|(ft)|(ft) | |Au |Ag |ppm|Au |Ag | |------------------------------------------------------------| |PC20-35|40 |45 |5 |1.5 |23.35|82.35|340|0.681|2.40| |------------------------------------------------------------| |within |17 |77.5|60.5 |18.45 |3.81 |49.21|113|0.110|1.44| --------------------------------------------------------------

QA/QC Program for the 2019 Exploration Work

All assaying was conducted by ALS Global, an independent analytical laboratory. Samples were delivered to the ALS sample preparation facility in Tucson, Arizona, where the core is catalogued, photographed, sawed, and crushed and pulverized. Pulverized splits are sent to the ALS analytical facility in Vancouver, British Columbia for analyses. All material handling is done under a strict chain of custody protocol. Gold is determined by fire assay with an AA finish and silver and beryllium are determined by ICP-MS methods within a 31-element suite.

The Company maintains its own program of inserting Standard Reference material in the form of standards and blanks to the sampling stream, prior to being shipped to ALS's preparation facility in Tucson, Arizona, in addition to the independent QA/QC protocols of ALS Global.

Qualified Person

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 technical information contained in this news release.

About Arizona Silver Exploration Inc.

Arizona Silver is a young exploration company focused on exploring underexplored gold-silver properties in western Arizona and now Nevada. The Company plans to continue to drill test the Ramsey Silver Mine property located a short distance east of Quartzsite, Arizona, were drilling of 20 holes to date to date has demonstrated a +30 metre-thick zone of silver mineralization surrounding the old high-grade vein that was mined in the 1920s and 1930s. also, the Company has a Plan of Operations submitted to the US Forest Service to drill the initial test holes at the Sycamore Canyon project where surface geology, geochemistry, and geophysics has demonstrated the silver-gold mineral system +600 metres long and up to 100 metres wide that has never been drilled. The latter permitting process is progressing slowly, and the acquisition of the Arabian-Philadelphia property will give the Company an excellent exploration property to explore while the permitting process with the US Forest Service at Sycamore Canyon progresses. The Company is also in the process of submitting a Notice of Intent to perform exploration drilling on its recently acquired Silverton gold-silver property in Nye County, Nevada.

Please refer to our web site for all news and updated property information. www.arizonasilverexploration.com

On behalf of the Board of Directors:

ARIZONA SILVER EXPLORATION INC.

Mike Stark, President and CEO, Director

Phone: (604) 833-4278

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. Forward-looking statements in this news release include statements in relation to the timing, cost and other aspects of the 2020 exploration program; the potential for development of the mineral resources; the potential mineralization and geological merits of the exploration properties; and other future plans, objectives or expectations of the Company. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include the risk that actual results of current and planned exploration activities, including the results of the Company's 2020 drilling program(s) on its properties, will not be consistent with the Company's expectations; the geology, grade and continuity of any mineral deposits and the risk of unexpected variations in mineral resources, grade and/or recovery rates; fluctuating metals prices; possibility of accidents, equipment breakdowns and delays during exploration; exploration cost overruns or unanticipated costs and expenses; uncertainties involved in the interpretation of drilling results and geological tests; availability of capital and financing required to continue the Company's future exploration programs and preparation of geological reports and studies; delays in the preparation of geological reports and studies; the metallurgical characteristics of mineralization contained within the exploration properties are yet to be fully determined; general economic, market or business conditions; competition and loss of key employees; regulatory changes and restrictions including in relation to required permits for exploration activities (including drilling permits) and environmental liability; timeliness of government or regulatory approvals; and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, including that the Company's 2019 programs would proceed as planned and within budget. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.

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