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Arizona Silver Exploration Inc.

Arizona Silver prepares to move forward with drilling at Philadelphia project; shares rise

The junior explorer received critical final permits and readied its drilling contractor at Arizona property

gold vein
Philadelphia’s historical production ranged from 10 to 27 grams of gold per ton

Arizona Silver Exploration Inc (CVE:AZS) (OTCMKTS:AZASF) announced Wednesday that it had received all federal and state permits and secured a drilling contractor to move ahead with its exploration work at the Philadelphia project.

Shares of Arizona Silver increased over 12% by midday Wednesday to sit at C$0.14 in Toronto and were up nearly 10% in the US to US$0.11.

READ: Arizona Silver says US Bureau of Land Management approves six-hole drilling program

The Vancouver-based company awarded a contract to Harris Exploration Drilling and expects drilling to begin as soon as April 15, the company said in a statement.

At the Philadelphia project in northwestern Arizona, the junior explorer plans to drill 6 holes in a bid to demonstrate the continuation of a high-grade vein that was historically mined in the early part of the 20th century.

Philadelphia’s past production ranged from 10 to 27 grams of gold per ton, according to Arizona Silver. The area is easily accessible, with initial drilling to take place less than 100 metres from paved roads.

Update on Sycamore Canyon

The company also announced that its team staked additional claims to the north of the property.

In addition, Arizona’s management provided an update on its Sycamore Canyon permitting process, where the next step is to determine whether an environmental assessment is required.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

 

Quick facts: Arizona Silver Exploration Inc.

Price: $0.19

Market: TSX-V
Market Cap: $6.55 m
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Arizona Silver Exploration preparing for next stage at Philadelphia project

Arizona Silver Exploration (CVE:AZS) Chairman Mike Stark sat down with Steve Darling from Proactive Investors to talk about Arizona Silver's recent drilling at their Philadelphia project. Stark talking about how successful it was and what their next steps might be. 

on 06/07/2019

2 min read