Arizona Silver Exploration Inc unveiled new assay results from its Philadelphia project highlighted by high-grade gold veins.
The results demonstrate the continuation of the high-grade upper vein down-dip from previously reported reverse circulation drill holes, the company said in a statement.
Stockwork mineralization below to the HW vein continues, Arizona Silver added.
READ: Arizona Silver Exploration says drilling is progressing "very well" at the Philadelphia gold project in Arizona
Highlights of the results include 32.90 grams per ton (g/t) gold, 97 g/t silver over 0.98 metres within an interval of 10.81 g/t gold and 41.41 g/t silver over 4.39 metres, for a total mineralized zone of 1.31 g/t gold and 7.29 g/t silver over 50 metres.
Another hole hit 16.25 g/t gold and 66.6 g/t silver over 0.98 metres within an interval of 6.02 g/t gold and 28.2 g/t silver over 3.87 metres for a total mineralized zone of 1.01 g/t gold and 6.5 g/t silver over 40.9 metres.
The final of the three holes revealed 17.35 g/t gold and 46.6 g/t silver over 0.73 metres within an interval of 8.7 g/t gold and 21.46 g/t silver over 2.01 metres for a total mineralized zone of 1.14 g/t gold and 4.97 g/t silver over 48.5 metres.
"We drilled these holes to confirm grades from previous, shallower RC drill holes and to determine the continuity of mineralization to depth. We certainly accomplished that,” vice president exploration Greg Hahn told investors.
“Effectively we have doubled the down dip extent, with another unassayed hole (PC22-91) down dip from these holes being visually impressive. In that hole the HW vein was intercepted where anticipated. In addition, an impressive and extensive zone of stockwork mineralization with some visible gold is present. The stockwork mineralization extends down to the total depth of the hole,” Hahn added.
The firm included the HW vein in its calculation of the total mineralized zone for each hole because of the vein's consistency and the fact that there is 40 to 50 metres of low-grade mineralization below it, Hahn said in a statement.
“It is far too early to talk about mining, however I have little doubt that the Philadelphia project has the signature of a bulk tonnage, open pitable target rather than merely a narrow vein underground mining scenario,” the vice president said. “This is supported by the (more than) 100 metre thick zone of mineralization we discovered to the south which will be drilled next.”
The drill rig will move to the southern area located 300 meters to the south, according to a release.
The Philadelphia project is Arizona Silver’s flagship asset located in Mohave County, Arizona.
Contact Angela at angela@proactiveinvestors.com
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