Arizona Gold & Silver Inc (TSX-V:AZS, OTCQB:AZASF) said on Monday it has received assays from core hole PC25-157 at its Philadelphia gold-silver project in Arizona, outlining a significantly wider mineralized interval due to gold-bearing zones in multiple host rock types.
The company said the new hole, drilled 50 metres north of a high-grade intercept reported in September, returned 6.28 metres grading 7.02 grams per tonne (g/t) gold from 278.18 metres, including 1.52 metres at 13.8 g/t.
A deeper interval returned 3.35 metres at 8.32 g/t from 335.98 metres, all contained within a broader 76.5-metre interval averaging 2.36 g/t starting at 265.85 metres.
Vice president of exploration Greg Hahn said the hole again intersected the Perry vein as predicted, but also revealed a developing stockwork zone in the hanging wall.
“This developing stockwork zone is changing our interpretation of the nature of mineralization along the mineralized corridor,” Hahn said. “It definitely adds a potentially bulk-mineable component to the deposit as it swells in thickness.”
Arizona Gold & Silver said hole PC25-157 cut quartz-calcite veining above the Perry vein before intersecting the structure at 313.69 metres. The company noted that earlier nearby drilling encountered the mineralized zone in granite roughly 200 metres west of the current section.
Drilling is continuing with hole PC25-158, which was recently completed and targeted the Perry vein 60 metres north of PC25-157. The company said PC25-158 encountered abundant quartz-calcite stockwork veining in andesite and visually mineralized conglomerate before cutting the Perry vein between 335.5 metres and 339.9 metres. The hole was terminated at 374.08 metres in barren andesite.
The next drill hole, PC25-159, will step another 60 metres north along strike.