Arizona Silver Exploration Inc. (the “Company“) (TSXV:AZS) is pleased to announce the results of drilling from the second phase of drilling in 2017 on the Ramsey Silver Project located in La Paz County, Arizona.
Further to our news release dated July 4, 2017 wherein it was announced that the Company drilled 145 feet of 62.5 gpt silver, the Company is pleased to announce that it has drilled an additional five exploration drill holes, for a current total of 12 drill holes, from atop the ridge to the southeast of the Ramsey Mine workings to test the potential for continuation of silver mineralization at depth beneath barren but altered rhyolitic volcanic rocks and post-mineral cover. All five holes intersected silver mineralization as reflected in the attached table, which includes two holes drilled earlier in the year.
|The Ramsey Mine/Hill Silver Project|
|2017 Drill Program|
|Hole No.||From(m)||To(m)||Thick.(m)||gpt Ag|
All of the holes drilled to date into the Ramsey Mine/Hill exploration target have intersected significant thicknesses of silver mineralization, which forms a shallow dipping tabular zone with open extensions to the north, east and south. Additional drill work is required to determine true width of intercepts.
Surprisingly, the holes completed recently all hit a shallow silver zone that is not evident on the surface or in holes drilled previously from lower on the hill side. Hole R1712, which intersected 9.1 meters of +57 gpt Ag just 6.1 meters below the surface exemplifies this shallow silver zone, which remains wide open to additional drilling to the north, east, and south.
Extensive and strong silica + iron alteration of the rhyolite across an area of ~700 metres x 250 metres that has never been drilled to the depths referenced in the intercepts above, and which appears to continue under post-mineral alluvial cover. The ultimate extent of this alteration area is unknown. This area represents a highly prospective target area for the continuation of silver mineralization encountered in the 2017 drill holes.
Review of the 2015 soil geochemistry results over the area of outcrop expression of the altered rhyolite reveals a very strong Ba+Zn+Pb anomaly that appears to be leakage coming up through the altered by barren rhyolite that overlies the silver zone. Silver is also weakly anomalous within the Ba+Zn+Pb anomaly. Ba, Zn, and Pb are demonstrated to be intimately associated with silver mineralization in the drill holes completed to date and represent an excellent geochemical signature of the possible presence of the continuation of the silver zone at depth.
The Ramsey silver mineral system appears to be very large and is wide-open to the east and south, where no previous drilling or mine development has occurred.
We are encouraged with the results of the drilling east of the old Ramsey Mine workings and have intersected what we think is the periphery of a much larger silver-bearing hydrothermal system centred on the strong alteration mapped to the east and south. We will post cross sections of the drill results to the website after we have finalized them, and a plan view map showing the drill hole locations with respect to the strong geochemical anomaly referenced above. Please take a moment to view our web site with images of the geology and core at www.arizonasilverexploration.com.
Western Deep IP Anomaly – A Large Target
We drilled one hole (R1713) into the western deep IP anomaly along IP Line 1, located approximately 800 meters west of the Ramsey Mine area. The hole penetrated 15 meters of alluvial cover and then went through 110 meters of iron-rich Cretaceous meta-sediments before encountering a significant fault (detachment fault?) which separates the overlying meta-sediments from an underlying granitic intrusion. The granitic intrusion is strongly altered with chlorite-calcite-oxidized pyrite (propylitic assemblage) and contains zones of strong silica alteration and quartz veining. The hole was bottomed in propylitic granite at 213 meters depth. This granite is not exposed for miles around the Ramsey Mine property, and where it is exposed 4-5 miles to the west it is not as strongly altered as in drill hole R1713. Assays are still pending for this drill hole.
QA/QC and Analytical Procedures
All drill cuttings were transported under strict chain of custody by ALS Minerals personnel to the ALS Minerals laboratory in Tucson Arizona, where samples were dried and crushed to 70% passing 2 mm, a 250 gram split is taken and pulverized to 85% passing 75 microns, subject to a four-acid digestion, and then analyzed by ICP/MS for a 48-element package including silver, lead, and zinc. Samples over 100 ppm silver and over 10,000 ppm lead or zinc are re-analyzed using ICP for higher concentration levels. Selected intervals with high silver values will be re-submitted for 1-assay ton fire assays for gold.
Greg Hahn, President and COO and a Certified Professional Geologist (#7122) is the Qualified Person under NI43-101 responsible for preparing and reviewing the data contained in this press release.
ON BEHALF OF THE BOARD
ARIZONA SILVER EXPLORATION INC.
Greg Hahn, President and Chief Executive Officer
Contact: Mike Stark, Chairman and 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, and the TSX Venture Exchange has in no way passed upon the merits of the transactions herein.
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 2017 program on the Ramsey property; the potential for development of the mineral resources; the potential mineralization and geological merits of the Ramsey property; 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 2017 drilling program(s) on the Ramsey property, 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 Ramsey property 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 2017 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.