Arizona Gold & Silver Inc (TSX-V:AZS, OTCQB:AZASF, FRA:A9J0) said on Tuesday it has launched a 27-hole reverse circulation drill program at its Silverton gold-antimony project in Nevada, targeting near-surface antimony mineralization and a deeper concealed gold system.
The program will test high-grade antimony-bearing quartz-stibnite veins identified through historical and recent surface sampling at the project, which sits along US Highway 6 between Tonopah and Ely.
The holes are designed to evaluate near-surface antimony mineralization amenable to open-pit mining.
Three holes will be drilled to approximately 150 metres or deeper and cased for potential future diamond drill extensions targeting Carlin-type gold mineralization.
"Drilling at Silverton marks an important step in advancing a project that combines significant near-surface antimony potential with a deeper gold target in one of Nevada's premier mineral belts," said CEO Mike Stark, adding that the project is fully funded.
Silverton sits within a roughly 900 by 400 metre zone where antimony mineralization appears in veins cutting through altered volcanic rock. The company believes this near-surface antimony system may signal a deeper gold deposit below, a interpretation supported by geophysical readings approximately one kilometre underground.
Surface sampling at the project has returned assays of up to 7.95% antimony, while historical drilling by Newcrest Resources intersected anomalous antimony values in 15 RC holes, including a reported interval of 6 metres grading greater than 1% antimony.
The US Geological Survey classifies antimony as a critical mineral owing to its importance to national security and industrial supply chains.