Vancouver, British Columbia–(Newsfile Corp. – March 13, 2018) – Arizona Silver Exploration Inc. (TSXV: AZS) (OTCQB: AZASF) (the “Company” or “Arizona Silver”) is pleased to announce that it has completed the Q1 2018 reverse circulation (“RC“) drilling program at the Ramsey silver project located in La Paz County, Arizona, and all drill samples have been delivered to the ALS Minerals sample preparation facility in Tucson, Arizona.
Q1 2018 RC Drilling Program
All holes intersected the target zone, all drill samples have been delivered to the ALS Minerals sample preparation facility and we await results. The Company will announce the results as soon as all “seven” holes have been assayed. The project went smoothly and was completed within budget.
Phase 1 of the 2018 RC exploration drilling program at the Ramsey silver project initially consisted of six holes to be drilled to the northeast of the previous series of eleven drill holes which have all intersected silver across tens of metres in iron-rich Tertiary rhyolite and biotite latite, and underlying Cretaceous metasediments, above a low angle detachment fault floored by Precambrian granite.
All six holes intersected the iron-rich Tertiary rhyolite, and drilled through the target interval of altered biotite latite before penetrating the detachment fault and underlying Precambrian granite, terminating at depths between 161-198 metres. All six holes penetrated between 38-75 metres of post-mineral cemented alluvium before encountering bedrock. The Ramsey Mine silver system dips beneath post-mineral cover immediately east and north of the old Ramsey Mine workings, and drilling through the post-mineral cemented alluvium is the only way to explore for the extension of the silver system lateral to the silver interval intersected to date.
One additional hole (R1807) was drilled to take advantage of an existing pad and drill fluid sump (before reclamation) and angled across the projection of the northern extension of the old Ramsey Mine workings about 100 metres north of the main shaft location and about 50 metres north of the northern end of the old mine workings, where the high-grade zone was lost due to a fault offset. Hole R1807 penetrated 75 metres of post-mineral cemented alluvium before encountering the iron-rich rhyolite and the underlying target section of altered biotite latite. Altered biotite latite persisted to a depth of 182 metres, where alteration weakened and the hole was terminated at 198 metres depth without intersecting the main detachment fault or the underlying Precambrian granite. The geology intersected in this hole suggests a fault offset of over 30 metres from the geology represented in the old mine workings and the core holes drilled in 2016 and explains the loss of the high-grade zone in the historic old mine workings due to a fault offset.
Second Drill Phase Planned for Q2
A second phase of drill holes consisting of 10 RC holes have also been permitted on patented claims with the Arizona Department of Water Resources, pending receipt of results from this round of drilling and fine-tuning of the actual locations to be drilled based upon the results received from this initial round of drilling. Additional drill sites and hole may be permitted with the US Bureau of Land Management to pursue extensions of silver mineralization outside of the patented claim boundary if results indicate the silver mineral system is trending onto unpatented mining claims.
QA/QC and Analytical Procedures
All drill hole samples are stored on site prior to transport under strict chain of custody to the ALS Minerals sample preparation facility in Tucson, Arizona. Samples are dried, and then each sample is 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, zinc, and barium. 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 are re-submitted for 1-assay ton fire assays for gold.
Greg Hahn, President and CEO 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.
About Arizona Silver Exploration Inc.
Arizona Silver is a young exploration company focused on exploring the historically producing Ramsey Mine in Western Arizona. Surface mapping, geophysical surveying, geochemical sampling, and one year of drilling have identified a large area carrying strong surface geochemical values adjacent to the historic mine. The eleven holes drilled to date have intersected significant silver mineralization across tens of meters of thickness beneath tens of meters of alluvial cover and iron-rich rhyolite.
Please refer to our web site for all news and updated 2018 drill campaign locations. www.arizonasilverexploration.com
ON BEHALF OF THE BOARD OF DIRECTORS:
ARIZONA SILVER EXPLORATION INC.
Greg Hahn, President and CEO
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.
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 2018 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 2018 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 2018 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.