Arizona Gold & Silver drills 1.27 g/t gold over 62.1 metres at Philadelphia Project, Arizona
Arizona Gold & Silver Inc. [TSXV: AZS; OTCQB: AZASF] had continuous gold mineralization at potentially bulk mineable grades from core drilling on the Philadelphia project in northwestern Arizona.
Two drill holes, PC24-141 and PC24-142, were completed approximately 100 metres north of previous drill hole PC24-140 and two new holes GB-1 and GB-2. PC24-140 was previously reported. Both new holes intersected wide intercepts as follows. PC24-142 (starting at surface) returned 62.18 metres at 1.27 g/t gold and 4.06 g/t silver. PC24-141 (starting at surface) returned 40.39 metres at 1.0 g/t gold and 2.76 g/t silver.
Both drill holes tested the Rising Fawn target, situated on patented mining claims within the main gold trend on the Philadelphia project.
Approximately 100 metres south of these holes, a prominent outcrop of the hangingwall high vein was channel sampled. It returned high-grade assays, 9.94 g/t gold and 79.4 g/t silver over 1.83 metres. This led to drilling core holes GB-1 and GB-2 about five m from the outcrop.
The new drill holes returned high grades: 2.07 metres at 17.45 g/t gold and 46.2 g/t silver, and 2.05 metres at 16.55 g/t gold and 42.7 g/t silver, respectively. The next phase of drilling will focus on targeting the down-dip extension of these high-grade intercepts.
The potentially bulk mineable grades in PC24-142 and PC24-4 start at surface and compare favourably to previously reported PC24-140 (starting from surface 55.8 etres at 1.27 g/t gold and 2.5 g/t silver).
Results from three additional holes sent to ALS labs are pending. In addition, three holes have been submitted to Skyline Labs in Tucson and are in preparation.
Greg Hahn, vice-president of exploration, commented: “Our goal at Philadelphia is to develop a bulk tonnage gold resource for large-scale heap leach development. A potential grade of plus 0.5 g/t gold would be consistent with mining operations in this district. These results indicate we are firmly on track to achieve a successful outcome. Of course, a lot more drilling and engineering is ahead of us to determine the project economics. Drilling is continuing.”
Exploration going forward: Current drilling is testing down dip of the Rising Fawn mineralized intercepts reported herein. Drilling of the Red Hills target awaits assay results to guide the siting of continuing drilling in that area.
Arizona Gold & Silver’s flagship asset is the Philadelphia gold-silver property, where the company is drilling off an epithermal gold-silver system ahead of an initial resource calculation.