Arizona Silver Exploration Inc (CVE:AZS, OTCQB:AZASF) has reported more encouraging findings from the Sycamore Canyon project in Arizona - expanding the gold-silver target to twice its previous width.
Shares closed Wednesday up almost 3% at C$0.18 having earlier been 8% higher.
READ - Arizona Silver Exploration unveils first findings from exploration at Sycamore Canyon project
The latest results are from rock chip sampling where results include 15.45 grams per tonne (g/t) gold and 396 g/t silver.
There was an average value of 0.893 g/t of the yellow metal and 82 g/t silver from the 42 samples, while the highest gold and silver values are at the southern end of the outcrop, where shallow alluvium covers the extension as it dips beneath cover.
The outline of the gold-and-silver-anomalous samples at the south breccia zone has expanded in places to twice the width, or more than 100m, in places, the firm highlighted.
WATCH - Arizona Silver reports positive first findings at Sycamore Canyon
"We are very pleased with current results showing Sycamore Canyon is expanding," said Mike Stark, Arizona's chairman.
"The company is pursuing permits for access roads and drill pad locations, and is currently conducting additional sampling on the property. We look forward to very busy times ahead."
A total of 73 samples that were conducted before Arizona Silver, which defined the gold-and-silver-bearing breccias with average values of 0.926 g/t (0.027 ounce per ton) gold and 84.34 g/t (2.46 ounces per ton) silver with values up to 31 g/t (0.90 ounce per ton) gold and 458 g/t (13.36 ounces per ton) silver.
Arizona Silver shares were unchanged at C$0.18.