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Arizona Silver Exploration to resume drilling at Philadelphia gold and silver project

A total of 10 holes are currently planned in this next round of drilling

Arizona Silver Exploration Inc project
The company also announced the addition of two additional claims onto the southern end of the area, which now spans 20 claims

Arizona Silver Exploration Inc (CVE:AZS) (OTCMKTS:AZASF) announced Wednesday that drilling is set to resume at the company's Philadelphia gold-silver project in Mohave County, Arizona. 

A core drill rig is on site and the crew should return from break next week, the company said, and a reverse circulation (RC) drill rig will mobilize to the site next week. The exploration drilling is focused on testing the down dip extensions of the high grade gold-silver mineralization intersected in the company’s most recent round of drilling.

A total of 10 holes are currently planned in this next round of drilling, the company said. The RC drill rig will drill pre-collar holes to within 100 feet of the target high grade vein, and the core rig will then re-enter the holes to core through the targeted projection of the vein.

READ: Arizona Silver Exploration reveals more high-grade gold and silver intercepts from its Philadelphia project in Mohave County

The company also announced the addition of two additional claims onto the southern end of the area, which now spans 20 claims. Follow up sampling is underway due to earlier results that indicated anomalous gold and silver, the company said. 

"We are excited to continue drilling the main vein target down dip of the previously intersected high grade,” Vice President of Exploration Greg Hahn said in a statement. “The nearby Oatman gold deposits have a depth extent of between 700 and 1000+ feet, and vein textures at Philadelphia indicate we have drilled only the very top of the boiling zone, so we have great expectations for drilling down the dip of the previously announced high-grade intercepts."

Philadelphia was discovered in the late 1800s and operated intermittently, mainly between 1917 and 1935 as a 50-tonne-per-day (tpd) underground mine. Past production ranged from 10 to 27 g/t gold with historic silver grades in the production shaft averaging 420 g/t silver.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Quick facts: Arizona Silver Exploration Inc.

Price: 0.28 CAD

TSX-V:AZS
Market: TSX-V
Market Cap: $13.86 m
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Arizona Silver Exploration buys out existing NSR on their Philadelphia Project

Arizona Silver Exploration (CVE: AZS-OTCQB: AZASF) President and CEO Mike Stark joined Steve Darling from Proactive with news the company has decided to buy out the 1% NSR that was on their Philadelphia Project. Stark telling Proactive why they decided to do that and what it means for...

1 week, 4 days ago

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