Vancouver, British Columbia – TheNewswire – September 29, 2020 – Arizona Silver Exploration Inc. (TSXV:AZS) (OTC:AZASF) is pleased to announce that it has filed a Notice of Intent with the US Bureau of Land Management to conduct an initial exploration drilling program at the Silverton gold-silver project in Nye Count, Nevada, and the Company has received a Record of Decision approving the proposed work.
The Notice of Intent (“NOI”) covers an exploration program consisting of construction of 5,000 feet of road access, two drill pads, and up to eight drill holes to depths of 500 feet each. Total estimated disturbance is 2.54 acres. A reclamation bond of US$10,248 is required to be posted before road construction and drilling can commence.
The proposed drill holes will test several gold-bearing structures that appear to feed stratabound jasperoid units in Paleozoic dolomitized limestone. Much of the limestone and jasperoid is brecciated. Alteration around the structures consists of argillic alteration peripheral to the jasperoids. The Long Canyon sediment-hosted deposit located in Humboldt County and operated by Newmont Mining is the model for the type of deposit we are exploring at the Silverton property, and is an example of a Carlin-type deposit that is significantly off the Carlin trend. The only previous drilling in the current target area was completed by Western Gold Exploration and Mining in the late 1980s and consisted of shallow vertical reverse circulation holes into the stratabound jasperiods. Those holes all intersected low grade gold values within the jasperiods, but they failed to test for near-vertical feeder zones which is what appear to contain the higher gold values in surface rock samples.
The current target area is at the southwest end of a band of anomalous surface rock samples from historical data collected over the last +30 years by several companies, including Western Gold and Newcrest Resources in the late 1980s and early 2000s respectively. The band of anomalous gold extends for 2 kilometers towards the northeast and includes multiple zones of brecciated and dolomitized limestones and jasperoids.
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.
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 high-grade gold-silver discovery at the Philadelphia Project near Kingman, Arizona, and the Ramsey Silver Mine property located a short distance east of Quartzsite, Arizona, Previous drilling of 20 holes to date at the Ramsey Property 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.
Please refer to our web site for all news and updated property information.
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 2020 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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