High Grade Gold-Silver Vein Within Thick Mineralized Zone On Philadelphia Property

VANCOUVER – Arizona Silver Exploration Inc. reported high gold-silver grades from drilling was completed on the Perry vein at the Philadelphia project in Mohave County, Arizona.  All 15 holes also intersected thick zones of gold-silver mineralization along the plane of the vein.

Mike Stark, President and CEO, said, “We are delighted that drilling has discovered high grades in a vein that was overlooked historically. Significantly, the high-grade zone is open at depth. The shallow lower grade mineralization is a surprise, a result that represents potentially significant bulk tonnages. Drilling will continue.”

The weighted average intercept of the above six holes on the high-grade vein is 4.57 meters (15 feet) at 8.06 gpt gold and 32.54 gpt silver. The drilling was accomplished using a reverse circulation drill rig. The intercepts in holes -82 and -83 are approximately 300 meters (1000 feet) along strike of the intercepts in holes -78 through -80 and -85. No drilling exists between these sites to a depth that could have intersected the productive part of the vein.

These intercepts represent the deepest intercepts along the dip of the Perry vein. Grades increase noticeably down dip, encouraging the continuation of drilling further down dip beneath the above intercepts. The high-grade vein is hosted by an angular clast-bearing multi-lithic breccia. Green and clear quartz and occasional banded textures characterize the vein intercepts. Drill holes in the shallower portion of the vein intersected broad zones of stockwork gold mineralization as the high-grade vein component is absent.

The weighted average of the lower grade intercepts in the up-dip portions of the mineralized zone is 39 meters (128 feet) at 0.38 gpt gold and 1.68 gpt silver, which does not include any high-grade vein intercepts.

Results from three diamond drill holes drilled on the Perry claim are not yet available. The core had been selectively sampled for analyses based upon our geologic experience to the north on the Philadelphia vein.  

The Perry vein system is significantly different to Philadelphia in the sense that gold grades of 0.2-2.0 gpt are present in rock similar to that would not have carried gold at Philadelphia.  In light of these results the Company will now assay portions of the core that were not sampled.