Arizona Silver Exploration Inc (CVE:AZS) (OTCMKTS:AZASF) said Tuesday that it had intersected visible gold in five of nine drill holes on its Philadelphia project in northwestern Arizona.
The positive results come as the Vancouver-based explorer wraps up a nine-hole program designed to test the along strike and down dip extensions of the high-grade gold and silver vein target.
High grade gold was first identified on the vein in October 2019.
In the current drill program, Arizona Silver’s drilling partner Harris Exploration Drilling sank 2,160 feet (659 metres) of reverse circulation drilling. Six of the holes intersected good vein intercepts of 15 to 60 feet (4.5-18.3 metres), all with demonstrated epithermal vein and “boiling textures,” according to Arizona Silver.
Five of the six holes contained visible gold in the reverse circulation cuttings within and outside of the vein intercepts, Arizona Silver said in a statement. Two of the other holes hit the Arabian fault, which hosts the Philadelphia vein, but with no visible vein mineralization along it, according to the company.
Arizona Silver said it is planning a follow-up drill campaign anywhere between 10 to 20 holes to pursue the open strike and dip extensions on the property.
Drill samples were sent to Tuscon’s Skyline Laboratories for analysis.
Shares of Arizona Silver eased 5.6% in Toronto at C$0.17 and traded around US$0.12 over the counter on Tuesday midday.
Contact Angela at [email protected]
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