Arizona Silver Exploration Inc issued an update on its Silverton carbonate-hosted gold exploration property in Nevada following a combined helicopter-borne magnetotelluric (MT) and magnetic survey flown over the entire property in March.
The survey was used to create a 3D data set to aid in mapping resistivity changes and structures down to the depth limit, the company said. The goal was to identify signature features that characterize Carlin-type gold deposits, which are hosted in sediment.
Data revealed several obvious low resistivity anomalies beneath the surface, and Arizona Silver staked an additional 16 claims covering 320 acres as a result. Those claims cover the eastern margins of a large resistivity anomaly.
“Our interpretation of the survey results are as follows. One very prominent low resistivity zone, interpreted as alteration, occurs along a strike length of +1.5 kilometers (kms) and a width of 0.5 kms, beneath a strongly silicified (resistive) volcanic cap,” said Gregory Hahn, VP of exploration.
“No historic drill holes test this anomaly, although several historic drill holes drilled along the western (up-dip) flank of the anomaly intersected good intervals of low-grade gold and jasperoid. We interpret these intercepts as the distal fringe of the heart of the anomaly which may represent a source for the low-grade intercepts.”
The Silverton property is a large claim block of 1,860 acres containing anomalous gold above 100 parts per billion in rock chip samples across an area 2.5 kms by 3 kms, the company said. The gold is accompanied by strongly anomalous arsenic, antimony, mercury and other metals, also known as the classic Carlin-type or intermediate sulfidation metal suite.
More information about the project can be found here.
Looking forward, Arizona Silver said it plans to seek a joint venture or strategic relationship with a large mining or exploration company with expertise in epithermal or carbonate-hosted gold deposits to drill test the property.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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