Arizona Silver Exploration Inc. (the “Company“) (TSXV:AZS) announces the results of a test hole drilled into the western IP anomaly at the Ramsey Silver Project located in La Paz County, Arizona. Drill Results Hole R1713 was drilled vertically to test the western IP anomaly on IP line 1. The hole was located approximately 800 metres … Continued
Arizona Silver Exploration Inc. (the “Company“) (TSXV:AZS) announces the results of a test hole drilled into the western IP anomaly at the Ramsey Silver Project located in La Paz County, Arizona.
Hole R1713 was drilled vertically to test the western IP anomaly on IP line 1. The hole was located approximately 800 metres west of the Ramsey mine workings and was targeted to test a geophysical model that suggested the source of the IP anomaly was 100 metres below the surface and had modelled dimensions of roughly 500 metres cubed.
“The presence of the silver signature in this hole this far from the Ramsey Mine and adjacent drill holes is an indication of the strength of the mineral system we are chasing at Ramsey. The vector of increasing potential to the east is clear, and that is the direction we are heading with our Q1 2018 drilling program,” stated Greg Hahn, President and CEO.
The hole penetrated 15 metres of alluvial cover and then went through 110 metres of iron-rich Cretaceous meta-sediments before encountering a significant fault (detachment fault?) which separates the overlying meta-sediments from an underlying granitic intrusion. The granitic intrusion is strongly altered with chlorite-calcite-oxidized pyrite (propylitic assemblage) and contains zones of strong silica alteration and quartz veining. The hole was bottomed in propylitic granite at 213 metres depth. This granite is not exposed anywhere around the Ramsey Mine property, and where it is exposed 5-7 kilometres to the west it is not as strongly altered as in drill hole R1713.
Assay results show a zone of anomalous silver ranging up to 10 gpt Ag in the interval 375-440 feet (114-134 metres) averaging 5.2 gpt Ag. This mineralized interval straddles the detachment fault. The presence of a strong silver anomaly across the detachment fault 800 metres west of the mineralization exposed in the Ramsey mine workings and peripheral drill holes is an indication of how strong the mineral system is, and further supports a vector of increasing potential to the east where we have a strong surface geochemical anomaly associated with a multi-lithic breccia (diatreme?), hydrodynamic fracturing, and argillic alteration of the host rhyolite, and where we intend to drill in the first quarter of 2018. There is no appreciable gold associated with the banded silica intervals in hole R1713.
The results of R1713 do not adequately explain the IP anomaly, as very little fresh pyrite or other sulphide minerals were identified in the drill cuttings. Successful drilling in 2017 has demonstrated the Ramsey silver system is wide open in three directions, South, East, and North of the original Ramsey Mine. The silver mineralization is close to the surface, rendering it possibly amenable to open pit development. The 2018 drill program will start with stepping out further than ever before (as much as 300 metres. Our drilling program continues to head in the direction of the silver-rich Creosote vein, which returned a grade of 877 gpt Ag from a sample in March 2017. We are funded for the initial 2018 drill program and look forward to continuing to expand the dimensions of the silver mineralized zone. So far every drill hole into the Ramsey Mine target has hit silver mineralization, giving us a record of 11 hits for 11 holes on Ramsey target. We encourage you to visit our website at www.arizonasilverexploration.com for updated information, images, and videos.
QA/QC and Analytical Procedures
All drill cuttings were transported under strict chain of custody by ALS Minerals personnel to the ALS Minerals laboratory in Tucson Arizona, where samples were dried and crushed to 70% passing 2 mm, a 250 gram split is taken and pulverized to 85% passing 75 microns, subject to a four-acid digestion, and then analyzed by ICP/MS for a 48-element package including silver, lead, and zinc. Samples over 100 ppm silver and over 10,000 ppm lead or zinc are re-analyzed using ICP for higher concentration levels. Selected intervals with high silver values will be re-submitted for 1-assay ton fire assays for gold.
Greg Hahn, President and CEO and a Certified Professional Geologist (#7122) is the Qualified Person under NI43-101 responsible for preparing and reviewing the data contained in this press release.
ON BEHALF OF THE BOARD
ARIZONA SILVER EXPLORATION INC.
Greg Hahn, President and CEO
Contact: Mike Stark, Chairman and Director
Phone: (604) 833-4278
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the TSX Venture Exchange has in no way passed upon the merits of the transactions herein.
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 2018 program on the Ramsey property; the potential for development of the mineral resources; the potential mineralization and geological merits of the Ramsey property; 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 2017-2018 drilling program(s) on the Ramsey property, 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 Ramsey property 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 2018 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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