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Arizona Silver Exploration (TSXV:AZS) holds the Ramsey Silver Project, which includes the historic Ramsey mine, in the mining-friendly jurisdiction of Arizona. Ramsey hosts a polymetallic system of predominantly silver with potential lead-zinc by-products and recently identified anomalous to economic concentrations of gold. Mineralization on the Ramsey project is comprised of a high-grade vein surrounded by a thick, low-grade envelope with intercepts that are within less than 100 meters from surface, offering the opportunity for a low-cost open pit operation.
The company has identified a large geophysical anomaly that is 0.5 kilometer in diameter within a 1.5 kilometer zone of vein mineralization that extends beneath cover, offering potential exploration upside. “In the western United States most of the mineral systems that are outcropping have been explored over the last 20 to 30 years,” said Greg Hahn, President and CEO of Arizona Silver. “At Ramsey, we are heading into terra incognita in many respects and that is where the real opportunity lies—in mineral systems that extend under cover.”
Arizona Silver’s exploration strategy has focused on the historic production areas and then conservatively advancing exploration outside this zone with a goal of expanding the known mineral system. The company is currently conducting a two-phased exploration program which includes geophysical surveys and core drilling. Initial Phase 1 results were announced in January 2017 with further results due out later in the first quarter of the year.
The Phase 1 results are expected to give Arizona Silver the leverage necessary to raise funds for moving forward with Phase 2 of its Ramsey exploration program.
The company is led by Greg Hahn, a certified professional geologist and geological engineer with nearly four decades of experience in exploration and mine development. He has been responsible for taking several projects from mine development through to production.
- Huge upside potential for large epithermal silver deposit size with possible lead, zinc and gold by-products.
- 100-percent ownership with royalty buy-outs.
- Historical metallurgical test work results of 70-plus percent recovery
- Tight share structure. • Two-phase exploration program underway.
- Drill hole R1602-C intersected 15.3 meters containing 102 g/t silver, 0.12 percent lead and 0.35 percent zinc; higher grade banded amethystine quartz vein 1.5 meters wide with 276 g/t silver and 0.5 g/t gold.
- Experienced management team with track record of success.
Ramsey Silver Project: Potential for Large Epithermal Silver Deposit
The Ramsey Silver Project is located 150 kilometers west of Phoenix in La Paz County, Arizona, just 2 miles south of Interstate I-10. The property includes the former Ramsey Mine.
The region was mapped by the United States Geological Survey in the 1980s and by the Arizona Geological Survey in 1994. Silver mineralization on the Ramsey property occurs not at surface, but in high-grade epithermal veins (Ramsey and Creosote) up to 3.7 meters wide and in disseminated or stockwork veining in the footwall rocks adjacent to the main Ramsey vein, according to a 1984 report by Exvenco Corporation. The property is also highly prospective for lead and zinc mineralization. Samples from the mine dump indicate lead is present with silver at a ratio of 0.20 percent-0.25 percent lead per 32 g/t silver.
Historic mining at Ramsey consisted of an underground mine in the 1920s to 1960s along the high-grade vein with a test heap leach operation on lower-grade mine dump material during the late 1970s and early 1980s. A total of 41 underground drill holes exist from the 1960s; however, the property remains unexplored by modern methods.
Large anomaly identified north of the mine
Arizona Silver has identified a large geophysical anomaly that is 0.5 kilometer in diameter within a 1.5 kilometer zone of vein mineralization that extends beneath cover, offering potential exploration upside.
Two-phased exploration program underway
Arizona Silver is currently undertaking a two-phased exploration program at Ramsey to better understand the property’s potential. The first phase of the program has focused on ground-based geophysical surveys and 1,700 feet (5 holes) of core drilling to test both the southern and northern ends of the old Ramsey Mine workings. Drilling from the surface is intended to test the entire width of the thick lower-grade envelope of silver mineralization surrounding the vein recently identified at Ramsey.
Results from the Phase 1 program include drill hole R1602-C which intersected 15.3 meters containing 102 g/t silver, 0.12 percent lead and 0.35 percent zinc. Within this zone is a higher grade banded amethystine quartz vein 1.5 meters wide with 276 g/t silver and 0.5 g/t gold that appears to be the southern extension of the Ramsey vein. “The gold content is noteworthy and much to our surprise, in that gold was not previously reported from mine shipments or rock samples from the Ramsey vein,” notes the press release.
This vein lies within and near the top of the low-grade silver halo. The thickness of the low-grade silver zone in this area measured 27.7 meters with of grades 63 g/t silver, 0.09 percent lead, and 0.25 percent zinc—confirming the presence of a thick interval of silver, lead and zinc with newly identified locally elevated gold.
Arizona Silver expects to release further results in Q1 2017. Planning is underway for an induced polarization (IP) survey of the old Ramsey mine area. The results of Phase I work will aid in the delineation of high-priority targets for a larger Phase 2 drilling program.
Greg Hahn, President and CEO
Greg Hahn is a certified professional geologist and geological engineer with more than 35 years of experience in exploration and mine development. Hahn has held senior level management positions with several public mining companies where he has taken projects from mine development to financing and through to production, including permitting, engineering, construction and operations.
Mike Stark, Chairman and Director
Mr. Stark has over 32 years of business experience in the private sector as an owner and operator of two successful companies, and 27 years in the public sector. Mr. Stark’s background includes corporate financing, investor relations, market support and corporate strategic development. Companies he has worked with in the past include; Exeter Resources and Extorre Resources. Mr. Stark is currently a director of Canamex Resources Corp.
Joe Charland, Director
Joe Charland has been a Financial and Investment consultant since 1995, and has held senior management position in several junior companies.
Keturah Nathe, Director
Keturah Nathe is the Vice President of Corporate Development for Iconic Minerals Ltd., and has been a Corporate Administrator for several public companies since 2008.