Q1-2023 Drilling Campaign Completed at Philadelphia Gold-Silver Project, Arizona

2023-03-20 / @thenewswire

(TheNewswire)

Vancouver, BC - TheNewswire - March 20, 2023 - Arizona Silver Exploration Inc. (TSXV:AZS) (OTC:AZASF) is pleased to advise that it has completed its’ first 2023 reverse circulation (“RC”) drilling program at the Philadelphia epithermal gold-silver project in Mohave County, Arizona. The program consisted of 12 holes for a total of 1256 metres. Assay results are awaited.

Five holes were completed on one of three patented claims known as the Rising Fawn Zone. All holes in the Rising Fawn Zone cut stockwork quartz mineralization as anticipated in a rhyolite dike and footwall granite. Importantly, panning of the selected drill cuttings revealed visible gold in several of the drill holes.

Seven of the holes were drilled in the GAP located in the Perry Zone, from a newly established drill pad in the central Perry claim. The new GAP drill holes intersected prominent green to gray quartz in a hanging wall (“HW”) vein in six of the seven holes. The vein is immediately beneath the overlying altered volcanics. Mineralization continued below the HW vein in the form of silicification and stockwork quartz veins in the host rhyolite dike and underlying Precambrian granite. All seven holes had good intervals of silicification and stockwork quartz. Gold panning of drill cutting rejects from the HW vein zone from two of the drill holes in the GAP revealed visible gold. Panning of drill rejects in the other GAP holes was not performed.

Geological sections will be released when available.

Greg Hahn, VP-Exploration comments: “We have drilled 1.7 kilometers of strike length and up to 250 metres of dip to date on this impressive mineral system. Some gaps remain to be drilled but overall the system is well mineralized throughout the area drilled to date and remains open along strike in both directions and down dip. Outcrops of the main vein system continue south for another 1.4 kilometers but have never been drilled.

“The Company has established 10 drill sites to test the Resaca Zone on patented claims in an upcoming drilling campaign. The Resaca Zone has never been drilled but shows excellent silver and gold geochemistry from outcropping stockwork quartz in the host rhyolite dike. North of the Resaca Zone on unpatented claims the Company had previously completed 60 drill holes for a distance of at least another 500 metres north of the patented claim boundary. More than half of those holes intersected high grade vein and adjacent stockwork quartz mineralization.”

The Company is currently permitting 40 holes from several drill sites on claims within Bureau of Land Management lands. These holes will test the down dip continuation of the Perry Zone and the recently identified strong CSAMT anomaly beneath the Red Hills bulk tonnage target.

Samples from all twelve holes will be shipped to the ALS sample preparation facility in Tucson, Arizona. Pulps will be shipped to the ALS analytical facility in Vancouver, BC for assaying.

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 gold-silver properties in western Arizona and Nevada. The flagship asset is the Philadelphia property and the subject of this news release.

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 2023 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 2023 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 2023 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.