Arizona Gold & Silver Inc (TSX-V:AZS, OTCQB:AZASF) has released promising initial results from sampling a newly uncovered historic adit and RC drilling at its Philadelphia Gold-Silver property in Arizona.
Recent channel sampling in a newly uncovered adit indicates a likely higher-grade core in the Rising Fawn section, which still requires further drilling, according to vice president exploration Greg Hahn.
Drill results from the Rising Fawn Gap indicate that the gold-silver stockwork system extends towards the Perry portion of the mineral system. Gold mineralization was found in the volcanics above the stockwork quartz interval, increasing the overall thickness of mineralization.
In the Resaca Gap, drill intercepts showed primarily silver with low gold values, Hahn noted.
Earlier this year, the entrance to a 51.8-meter adit was uncovered on the Rising Fawn claim, allowing systematic channel sampling.
This revealed a 30.5-meter section grading 2.33 grams per tonne (gpt) gold and 15.27 gpt silver. The total interval of 48.78 meters graded 1.68 gpt gold and 10.95 gpt silver, with an estimated true width of 44.21 meters, according to a statement from Arizona Gold & Silver.
A nearby short adit exposed the HW vein, returning 1.5 meters of 20.4 gpt gold and 20.5 gpt silver. The total interval from 0 to 10.67 meters assayed 3.49 gpt gold and 12.33 gpt silver.
Drilling in the Rising Fawn Gap, previously untested encountered gold-silver mineralization, such as one intersection of 47.25 meters grading 0.85 gpt gold and 2.0 gpt silver, including a 1.5-meter section of 12.5 gpt gold and 6.7 gpt silver.
Meanwhile, drilling in the Resaca Gap, an undrilled area, also showed significant gold and silver mineralization. PRC24-123 reported 4.57 meters grading 2.67 gpt gold and 9.0 gpt silver, while PRC24-126 intersected 16.76 meters grading 0.50 gpt gold and 1.8 gpt silver.
Drilling at Philadelphia aims to achieve two main goals: developing a bulk tonnage, low-grade heap leachable resource with grades above 0.5 gpt gold, and delineating high-grade portions in the FW and HW veins, which were historically mined.