Arizona Gold and Silver Inc. continues the hunt for large, high-grade targets at its projects in the US state

Arizona Gold & Silver Inc. is a leading exploration company focused on uncovering precious metal resources in Arizona and Nevada.

With a commitment to sustainable practices and innovative exploration techniques, the company aims to drive value for stakeholders while prioritizing environmental stewardship. The 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.

Arizona Gold & Silver Inc (TSX-V:AZS, OTCQB:AZASF, FRA:A9J0) has landed a C$12 million investment from gold major Evolution Mining, which is taking a near-10% stake in the junior to help fund a major drilling push at its Philadelphia Gold-Silver Project in Arizona.

Under the deal, announced Tuesday, Evolution Mining Gold Operations Ltd, a subsidiary of Evolution Mining Limited, will acquire just over 15 million units of Arizona Gold & Silver in a non-brokered strategic private placement at C$0.80 per unit.

Each unit consists of one common share and one-half of one common share purchase warrant, with each whole warrant entitling Evolution to acquire one common share at C$1 for three years from closing. Evolution is expected to hold an approximate 9.9% equity interest in Arizona Gold & Silver on a non-diluted basis following completion of the investment.

"This strategic investment marks an important milestone for Arizona Gold & Silver," said Mike Stark, Arizona Gold & Silver’s CEO.

Arizona Gold & Silver Inc (TSX-V:AZS, OTCQB:AZASF, FRA:A9J0) earlier this week announced that it has secured a Bureau of Land Management (BLM) permit allowing the company to expand drilling at its Philadelphia project in Arizona, opening the way for a significant new phase of exploration.

Speaking with Proactive, Senior Vice President of Exploration Lex Lambeck said the permit represents an important milestone, enabling Arizona Gold and Silver to establish 16 new drill pads through a minor modification to its existing environmental assessment.

Arizona Gold & Silver Inc (TSX-V:AZS, OTCQB:AZASF, FRA:A9J0) earlier this week reported positive metallurgical test results that management believes mark another important milestone in advancing and de-risking its gold project.

Speaking with Proactive, CEO Mike Stark said the latest testing demonstrated that the project's mineralised material achieved gold recoveries of up to 99%, while approximately half of the recoverable gold was extracted within the first 10 days of leaching.

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Arizona Gold and Silver CEO Mike Stark spoke with Steve Darling from Proactive to share encouraging results from recent core drilling at the Philadelphia Project in northwestern Arizona. Stark emphasized the promising gold intercepts from the Rising Fawn target, where ongoing drilling continues to reveal significant mineralized zones.

Two newly reported drill holes, located approximately 30 meters north of previously announced holes PC24-141 and PC24-142, delivered notable results. Hole PC24-143, starting at surface, intercepted 142.5 feet averaging 1.56 grams per tonne (gpt) gold and 12.35 gpt silver. Similarly, hole PC24-144 returned 113.0 feet grading 1.32 gpt gold and 9.01 gpt silver, also beginning at surface.

Stark noted that additional assay results, including those from shallow sub-horizontal holes at Rising Fawn, are pending from Skyline Labs in Tucson. The current drilling program is focused on testing the down-dip extension of the mineralized intercepts at Rising Fawn to assess the continuity and depth potential of the deposit.