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Next Drilling Phase
The next round of drilling will focus on drilling gaps within the 1.5 km strike length that is known to be mineralized zone on the property. The first 30 drill holes will test a 450 metre long gap on the Resaca patented claim**. Three drill hole fans will be sited from each of 10 drill pads. The plan is to utilize a reverse circulation (RC) drill to test the mineralized zone down to a depth of 150 meters. We have the capability to step back another 100 meters and drill the system deeper. Our 3-D model shows these planned holes for review:https://arizonasilverexploration.com/philadelphia/
The 30 Resaca drill holes will be followed by drilling on the the Rising Fawn portion of the mineral system. This drilling can use existing access.
Following BLM approval we will mobilize a core rig to BLM Pad#1 to test the continuity of thick gold intercepts encountered in holes PRC21-80 and -85 (106.7m of 1.53 grams per tonne gold, 7.55 grams per tonne silver, and 115.85m of 1.34 grams per tonne gold and 5.78 grams per tonne silver respectively).
BLM Permit Progress
The Company has applied to the Federal Government to drill up to 40 holes from BLM (
The Plan of Operations is based on drilling up to 40 holes from two drill pads situated on the western slope of
Core hole PC23-112
Core hole P23-112 was recently drilled to test a CSAMT anomaly beneath
PC23-112 encountered highly altered and iron stained upper volcanics in the first 90 metres. It then penetrated a series of clay-rich fault zones after which it intersected unaltered lower volcanic rocks. A down hole survey indicated the drill hole steepened slightly and turned 12 degrees to the left (north), rather turning south as anticipated. Our geologists decided to not attempt to redrill the hole but rather to await issuance ofthe BLM permit described above. The new drill pads provide better sites from which to drill both the the CSAMT anomaly and the
**Apatented claim is private property, the title to which was transferred by the Federal government to the private landowner in the past. A patented claim is subject only to state permitting and property taxes and not to Federal permitting requirements or the annual claim maintenance fees”.
Qualified Person
AboutArizona Gold & Silver Inc.
Arizona Silver is a young exploration company focused on exploring gold-silver properties in western
On behalf of the Board of Directors:
Phone: (604) 833-4278
Neither the
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. Forward-looking statements in this news release include statements in relation to the timing, cost and other aspects of the 2023 exploration program; the potential for development of the mineral resources; the potential mineralization and geological merits of the exploration properties; and other future plans, objectives or expectations of the Company. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include the risk that actual results of current and planned exploration activities, including the results of the Company's 2023 drilling program(s) on its properties, will not be consistent with the Company's expectations; the geology, grade and continuity of any mineral deposits and the risk of unexpected variations in mineral resources, grade and/or recovery rates; fluctuating metals prices; possibility of accidents, equipment breakdowns and delays during exploration; exploration cost overruns or unanticipated costs and expenses; uncertainties involved in the interpretation of drilling results and geological tests; availability of capital and financing required to continue the Company's future exploration programs and preparation of geological reports and studies; delays in the preparation of geological reports and studies; the metallurgical characteristics of mineralization contained within the exploration properties are yet to be fully determined; general economic, market or business conditions; competition and loss of key employees; regulatory changes and restrictions including in relation to required permits for exploration activities (including drilling permits) and environmental liability; timeliness of government or regulatory approvals; and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, including that the Company's 2023 programs would proceed as planned and within budget. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.
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