Arizona Silver Exploration Inc (CVE:AZS) (OTCMKTS:AZASF) reported new high grade gold and silver results from a drill program on the Main Claim of the Philadelphia vein on the aptly named Philadelphia precious metals project.
Drilling at the vein intersected 3.7 feet of 6.79 grams per ton (g/t) gold and 258 g/t silver, the company said in a statement.
Other results from the five holes assayed included 3 feet grading 1.09 g/t gold and 14.4 g/t silver, and 5.1 feet of 0.15 g/t gold and 39.2 g/t silver.
READ: Arizona Silver Exploration completes 2Q drill program at Philadelphia gold and silver property
In a statement, Arizona Silver told shareholders that the intercepts “represent the up-dip portion of the main vein near the surface at Philadelphia.”
“Deeper drilling is required to test the down-dip portions of the veins intercepted to date, but this requires additional road work and permitting,” the company told investors.
The firm is now drilling on the exposed Perry vein, also on the wider Philadelphia property.
Results from an additional three core holes and 15 reverse circulation holes from the Perry Claim are pending.
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas