Arizona Silver Exploration Inc. Intersects 50 Feet (15.3 Metres) of 102 GPT Silver at Ramsey Silver Project, La Paz County, Arizona

VANCOUVER, BC / ACCESSWIRE / January 31, 2017 /Arizona Silver Exploration Inc. (TSXV:AZS) (the “Company”) is pleased to announce initial drill results from the first phase of drilling on the Ramsey Mine silver project located in La Paz County, Arizona.
Initial Drill Results
Drill hole R1602-C intersected 50 feet (15.3 metres approximate true width) containing 102 gpt Ag, 0.12% Pb and 0.35% Zn. Within this zone is a higher grade banded amethystine quartz vein 5 feet wide (1.5 metres) of 276 g/tonne (gpt) Ag and 0.5 gpt Au that appears to be the southern extension of the Ramsey vein that was mined historically. 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. The vein occurs within and near the top of the more extensive lower grade silver zone beneath it. The silver zone is contained within a much thicker section of low grade mineralization that is 91 feet (27.7 metres approximate true width) and grades 63 gpt Ag, 0.09% Pb, and 0.25% Zn. These results confirm the presence of a thick interval of silver, lead, and zinc, as identified by historic long hole drill holes, with newly identified locally elevated gold. This mineral system appears to be large and wide-open to the south of hole R1602-C, where no previous drilling or mine development has occurred.
Drill hole R1603-C was drilled beyond the northern extent of the old underground workings where it was unclear why historic mining was discontinued. R1603-C interested footwall mineralization only, grading 31.3 gpt Ag, 0.08% Pb, and 0.32% Zn with intervals of 0.1-0.2 gpt Au, across 47 feet (14.3 metres approximate true width) after drilling through extremely faulted ground in the region where the high-grade vein projected. We believe the high-grade vein is faulted out, which explains why mining was discontinued historically, along with about 50 feet (15.3 metres) of mineralized section. We interpret the large magnetic anomaly located north of this drill site to represent the faulted extension (see discussion on hydrothermal magnetite below).
Drill hole R1601-C was drilled from the same site at R1602-C, but at a steeper inclination and intersected a mine working where we projected the high-grade vein. This mine working was not on the historical stope maps that predate the MM Sundt Company’s underground activity at the Ramsey Mine in the late 1960s, and probably represents a portion of the high-grade vein that they mined during their tenure on the property. The core drillers were unable to drill past this 7-ft wide mine working, and the hole was abandoned.
Drill holes R1604-C and R1605-C were drilled from the same site as R1603-C, and are currently in the laboratory for sample preparation and analyses, and the results will be reported after they have been received and reviewed.
Magnetic Anomaly
Drilling simultaneously tested the ground magnetic anomaly that is coincident with the old Ramsey Mine workings, in order to understand the source of the magnetic anomaly and to be able to better interpret the much larger (500-meter diameter) ground magnetic anomaly to the north. There is a distinct hydrothermal magnetite zone in the volcanic rocks above the silver target zone in all five holes, explaining the source of the magnetic anomaly and reinforcing the significance of the larger magnetic anomaly to the north. Lab physical property tests also show this rock type is very resistive, probably due to silicification. Magnetic pyrrhotite is also present in the volcanic rocks above and in the silver target zone. Rock physical property tests were performed on representative samples from this magnetite-pyrrhotite zone and confirm a magnetic susceptibility 20-100 times that of the mineralized rocks below the high-grade vein, which explains the ground magnetic anomaly.
The magnetic anomaly to the north of the Ramsey Mine area is significantly stronger and larger than that at the Ramsey Mine. It is located across an inferred fault intersected in drill hole R1603-C and is believed to lie beneath an estimated 30-60 meters of alluvial cover. Silver-mineralized footwall rocks have a higher conductivity and polarization effect than the hanging wall rocks. The lab physical property tests suggest an electrical survey over the large untested magnetite anomaly should help define the geometry of the mineral system in the sub-surface and the locus of any disseminated sulphide minerals. An IP (induced polarization) geophysical survey is being planned to measure the electrical properties of the Ramsey mine are and the larger northern magnetic anomaly. We are encouraged with the results of the programme and have gained further knowledge of the system. Please take a moment to view our web site with images of the core at www.arizonasilverexploration.com.