Arizona Silver Exploration to resume drilling at Philadelphia gold and silver project
A total of 10 holes are currently planned in this next round of drilling
Company
CVE:AZS
Arizona Gold & Silver Inc. is a leading exploration company focused on uncovering precious metal resources in Arizona and Nevada. With a commitment to sustainable practices and innovative exploration techniques, the company aims to drive value for stakeholders while prioritizing environmental stewardship. The flagship asset is the Philadelphia gold-silver property where the company is drilling off an epithermal gold-silver system ahead of an initial resource calculation.
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A total of 10 holes are currently planned in this next round of drilling
The Vancouver-based company saw the highest grades of gold, silver and beryllium in drill hole PC20-37, which reported 33.6 grams/tonne (g/t) gold and 54.7 g/t silver over 2.4 metres
The firm plans to conduct an exploration program consisting of the construction of 5,000 feet of road access, two drill pads, and up to eight drill holes to depths of 500 feet each
"The newest drill results confirm our suspicions that we had lost the primary vein target and were drilling a second but lower grade vein," said Greg Hahn
Silverton is near the old Silverton Mine property around 100 kilometres northeast of the town of Tonopah and consists of 77 claims totaling around 1,540 acres of land
The holes will test the continuity of the high-grade gold and silver zone on the west side of the Philadelphia vein system
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The Vancouver-based company owns 100% of the previously producing Philadelphia property
The Vancouver-based explorer said that the results ranged from 94.4% to 99.5% recovery from eight bulk samples
Fire assays on the drill samples returned values of up to 3 grams per ton gold across a minimum sampling width of five feet
Recent drilling hit the vein at 660 feet, which is lower than anything previously recorded on the property
Not hampered by the coronavirus outbreak, the company said it has completed 8 of the 11 RC holes previously permitted on the property
The Vancouver explorer hit visible gold in five of nine drill holes on its Philadelphia project
The financing consists of over 7.33 million units at C$0.15 each
The explorer intersected gold in five of the nine holes drilled on the property
The claims cover a significant portion of the old workings and potential strike extension of the former operating Arabian-Philadelphia mine on the property
The company signed a contract with Harris Exploration Drilling to conduct the 3,000-metre program
The company issued over 6.8 million units at C$0.10 each, raising total gross proceeds of C$682,762
Philadelphia is in Mohave county, while the Ramsey silver project is in La Paz county
The goal of surveying the project, in fact located in Arizona, is to map the alteration peripheral to the high-grade vein often associated with a precious metal system
Drilling continues to hit high grades of gold-silver mineralization along strike towards the north from historic high-grade underground production on the Philadelphia vein