New High-Grade Gold-Silver Intercepts In Mohave County

VANCOUVER, BC - Arizona Silver Exploration Inc. reported assay results from the first three core holes drilled during the autumn exploration program at the Company’s 100% owned Philadelphia project in Mohave County, Arizona. The autumn core drilling follows up on reverse-circulation (RC) drilling earlier in the year that intercepted gold-silver mineralization in all six holes.

Highlights: Core drilling continues to intersect high grades of gold-silver mineralization along strike to the north from historic high-grade underground production on the Philadelphia vein as follows: 41.6 grams/tonne Au and 94.4 gpt Ag across 0.76 meters, from 10-10.76 meters; 23.47 grams/tonne Au and 97.2 gpt Ag over 2.3 meters, from 8.5-10.76 meters; 6.11 gpt Au and 81.9 gpt Ag from 4-17.4 meters; followed by 1.12 gpt Au and 20.3 gpt Ag from 22.9- 32.9 meters; total intercept of 3.97 gpt Au and 55.4 gpt Ag from 4-32.9 meters in core hole PC19-2T; 5.75 g/t Au and 54.2 gpt Ag over 1.2 meters in core hole PC19-7. Target gold-silver mineralization was also intersected in the third core hole.

Significant gold intersections have now been encountered in all of the nine reported drill holes from the property to date. In May, PRC19-2 intersected an average 15.8 gpt Au and 90 gpt Ag over 3.1m. Hole PC19-2T was designed as a nearby twin of RC hole PRC19-2. The result of core drilling identified a much tighter grade distribution and 49% higher grades present in the vein than determined by 5-ft sampling of RC cuttings from the initial drill holes on the property.

The report on the 2019 Diamond Drill Program comprises the results of three core holes. Drill holes PC19-7 and PC19-8 were collared from the same setup and were drilled to test the shallow strike extension 30 metres to the north of the gold-silver zone identified in RC (reverse circulation) drill holes PRC19-1 and PRC19-2 (15.8 gpt Au and 90 gpt Ag over 3.1 meters). Core hole PC19-2T was set up east and down-dip of RC hole PRC19-2 as a twin to evaluate the detailed distribution of gold in the vein at this location, to confirm veracity of RC sampling and compare RC and core sampling and assaying results, and to test for any potential for down-hole contamination in the RC drilling and sampling methods.

In addition, the high-grade vein interval of 2.3 meters in hole PC19-2T contains 497 gpt (~0.05%) Be, the highest beryllium grades reported from the property to date. Beryllium prices are currently US$500/kilogram, according to the US Geological Survey, which implies the beryllium content at Philadelphia is worth tracking, as it may have significant value depending upon its recoverability and future market dynamics.

Vice President of Exploration, Greg Hahn, said, “We are very happy with the results announced today, as they confirm extension of strike and also suggest that precious metal grades and continuity of mineralization should improve down the dip of the vein as we approach the boiling zone. Observations made during logging of the core identified details of gold distribution along with bladed calcite and quartz replacement textures that clearly identify the intercepts completed to date as being above the boiling zone where the majority of gold and silver mineralization should occur in any high-grade epithermal gold-silver deposit.  By analogy with the main vein deposits of the nearby Oatman District, where over 2 million ounces of gold have been produced historically, the drill holes completed to date at Philadelphia are probably within 100 meters of the top of the boiling zone. The next round of drilling should be able to test for the boiling zone down the dip on the vein from currently permitted and bonded drill sites.”

The company’s address is (604) 833-4278, Suite 804, 750 West Pender Street Vancouver, BC V6C 2T7, arizonasilverexploration.com.