Vancouver, British Columbia – TheNewswire - July 27, 2021 – Arizona Silver Exploration Inc. (TSXV:AZS) (OTC:AZASF) is pleased to announce that recent high grade drilling results have prompted the Company to stake an additional 10 lode mining claims (200 acres) at the Philadelphia project in Mohave County, Arizona.
Greg Hahn, VP-Exploration states “We have staked additional mining claims to cover the depth extension of the Perry vein system that returned the high grade gold results announced xxxxx. The new claims cover strongly altered and iron oxide-stained flow dome rhyolite that forms the hanging wall of the vein system where drilled. Significantly, alteration in the rhyolite is strong to intense which suggests it overlies a robust mineral system. In my view it was imperative that we secure the potential depth extensions of the vein system beneath such impressive hydrothermal alteration.”
The Hanging Wall Rhyolite
The hanging wall rhyolite is now considered a key indicator of mineralization on the property. The hydrothermally altered rhyolite has outcrop dimensions of some 600 metres by 1000 metres. Drilling on the Perry vein west of the new claims intersected the rhyolite in all of the holes. Accordingly the vein is projected to continue at depth beneath the rhyolite body.
The rhyolite is unique within the numerous rhyolite bodies on the property in that it has a strong hyperspectral reflectance indicative of strong hydrothermal alteration, as shown on the USGS Great Basin alteration map. To our knowledge there are no drill holes or mine workings in this rhyolite, except where the Company has discovered mineralization near surface.
Potential Waste Rock Disposal Site
The eastern portion of the new claims covers a shallow bowl-shaped area in unmineralized and weakly altered to unaltered volcanics. This is a potential waste rock disposal site for future open pit mining at Philadelphia. South of the new claims the rhyolites are significantly less altered. That area was recently staked by Northern Vertex such that they surround the southern portion of the Company’s pre-existing claim group.
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 as time allows. The Company has recently received a positive Record of Decision on its Notice of Intent to drill an initial twelve exploration holes on its recently acquired Silverton gold-silver property with carlin-type targets. Drilling there will be scheduled as time and equipment allow.
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 2020-2021 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 2021 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 2021 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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