Arizona Gold & Silver Inc (TSX-V:AZS, OTCQB:AZASF) reported a significant gold intercept at its Philadelphia Project in northwestern Arizona, intersecting 22.47 metres grading 3.05 grams per tonne (g/t) gold in a drill hole targeting the Perry Vein.
The mineralized zone from hole PC25-154 includes higher-grade intervals of 11.5 g/t gold over 1.59 metres and 6.41 g/t over 3.69 metres, the company said in a statement on Wednesday.
The intercept features yellow quartz within an epithermal quartz and bladed calcite-bearing vein system, which Arizona Gold & Silver said is typically associated with high gold grades throughout the district.
Arizona Gold vice president of exploration Greg Hahn called the drill hole “exciting.”
“It demonstrates increasing concentrations of gold and favourable vein textures with depth,” Hahn said in a statement. “We are now seeing two zones of high grade rather than just one, another indication that the system is getting stronger with depth.”
Hole PC25-154 was drilled below a previous hole to test the down-dip continuity of mineralization. The company noted an increased presence of yellow quartz compared to up-dip sections, with vein textures such as colloform and ginguro banding reminiscent of high-grade zones at the historic Oatman gold mines.
Arizona Gold & Silver is continuing to drill down-dip on the Perry Vein, while work on the adjacent Rising Fawn zone has paused pending assay results.