(TheNewswire)
Vancouver, British Columbia / TheNewswire / March 11, 2019 – Arizona Silver Exploration Inc. (the "Company" or “Arizona Silver”) (TSX-V: AZS) (OTCQB: AZASF) is pleased to announce it has received approval from the US Bureau of Land Management (“BLM”) of its Notice of Intent to start an initial six-hole exploration drilling program on the Philadelphia project. The BLM has determined the reclamation bond amount required to cover the proposed drilling program and the Company has submitted a Cashier’s Check for the requisite amount to cover the bond. The Company awaits acceptance of the Bond before it is cleared to commence drilling.
Separately the Company has submitted a Notice of Intent (“NOI”) and permit application fee with the Arizona Department of Water Resources to commence the exploration drilling. That NOI should be approved by the end of March.
The Company is finalizing costs, equipment availability, and schedules with its preferred drilling contractor and support personnel to be able to commence drilling once we obtain “NOI”
About the Philadelphia Project
The permitted plan is for the drilling of six exploration holes in a fence following the gold-silver mineralization identified in the Philadelphia No. 1 (PH-1) shaft. The fence of holes will test the easterly dipping mineralized structure along a dip length of over 500 feet (+150 metres) from where old descriptions of underground sampling done over 100 years ago revealed good gold grades present, but not sufficient for development at a time when gold was valued at $20/ounce. See old description below from a report by W.R. Layne and Bertram Grant dated June 24, 1915.
“The PH-l shaft (inclined) 250 feet north of the PH-2 production shaft has been sunk to a depth of one hundred feet. At the bottom of this shaft a drift has been run northwest in “ore” (quotations added). Also to the south 61 feet towards PH-2 and a cross cut all in vein material, showing the vein to be 40 feet wide at this point. The vein at this point is faulted by an intrusion, and the values decrease, but run up again after leaving the break, as shown by the assays on open out, about 40 feet further north, which give over twenty ($20.00) dollars to the ton.”
And from another old report: No development has been done at either point and no cross-cut has been driven to the foot wall at any point on the Philadelphia.”
The Philadelphia property was discovered in the late 1800s and operated intermittently, mostly between 1917 and 1935 as a 50-ton per day underground mine. Old underground mine maps show mining stopped about 150 feet (~46 metres) south of the PH-1 shaft and the fence of holes the Company intends to drill to test the continuity of the high-grade vein and enveloping lower grade material. No drilling has been done to our knowledge north of the old mining area around the PH-2 shaft and the target remains open to the north on leased and 100% owned claims for a distance of 4500 feet (1.37 kilometres).
Greg Hahn, President, CEO, and a Certified Professional Geologist (#7122) is the Qualified Person under NI43-101 responsible for preparing and reviewing the data contained in this press release.
Please refer to our web site for additional and complete news updated on Philadelphia property information. www.arizonasilverexploration.com
On behalf of the Board of Directors:
ARIZONA SILVER EXPLORATION INC.
Greg Hahn, President and CEO
Contact: Mike Stark, Chairman and 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 2019 exploration program; 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.
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