Arizona Silver Exploration Inc (CVE:AZS) (OTCMKTS:AZASF) said Monday that it will recommence drilling at its promising 100% owned Philadelphia high-grade gold-silver vein property in Mohave county, in northwestern Arizona.
On February 18, the group revealed it had hit visible gold in five of nine drill holes on its Philadelphia project. High-grade gold was first identified on the vein in October last year.
The Vancouver-based explorer completed a nine-hole program designed to test the along strike and down dip extensions of the high-grade gold and silver vein target.
On Monday, the company said it was now planning a follow-up drill campaign anywhere between 10 to 20 holes to pursue the open strike and dip extensions on the property. Eleven of these holes are already permitted. An additional 20 holes have been permitted with the US Bureau of land Management and the additional bond requirement has been posted.
Update on first quarter drilling program
In the current program, Arizona's contractor 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. True widths of the intercepts are estimated to be roughly half the drill lengths given the -60 degree dip of the vein and the vertical nature of the drill holes.
“Five of these six holes contained visible gold in the reverse circulation cuttings within the vein intercepts. Two of the other holes hit the Arabian fault, which hosts the Philadelphia vein, but with no visible vein mineralization along it,” said the company.
One of the holes hit the footwall granite and was terminated at 100 feet. All of the holes were drilled through 6-20 metres of unconsolidated alluvial cover which conceals the bedrock geology in the location of the drill holes. Assays of these holes remain pending.
Follow-up drilling campaign
“All five of the vein intercepts with visible gold in cuttings lie within the magnetic low and are overlain by strongly clay-altered volcanic units,” said the company.
A notice of intent has also been submitted to the Arizona Department of Water Resources to cover the additional 20 holes.
Contact the author Uttara Choudhury at [email protected]
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