Arizona Silver Exploration Inc. (the “Company“) (TSX-V: AZS) is pleased to announce it has commenced access road and drill site preparation for the second phase of drilling in 2017 on our 100 % owned Ramsey Silver Project located in La Paz County, Arizona. A drilling contract has been signed and an RC drill rig is scheduled to arrive on site the week of September 18th.
Planned Drill Program
A 5000-ft. (1500-metre) drilling program is planned to test two targets on the property.
Ramsey Mine Extension: Five holes in two fences will be drilled on patented land from within the large silica alteration zone atop Ramsey Hill to the southeast of the old Ramsey Mine workings to test for continuity of silver, (with lead and zinc) mineralization identified by historic underground drilling from the old Ramsey Mine workings and intersected in our 2016-2017 surface drilling program. The last two drill holes (R1706 and R1707) of the phase 1 drilling program in early 2017 intersected 44.2 metres of 62.5 gpt Ag and 53.3 metres of 37.3 gpt Ag respectively, beginning at a depth of approximately 50 metres vertically below the surface. These holes, and the earlier silver-bearing intercepts reported from the 2016 drilling program, lie beneath a large zone of silicic and iron-stained altered rock measuring at least 250 metres by 700 metres before the altered zone is covered by Quaternary and Pliocene alluvial gravels. This large area of alteration is highly prospective for the continuation of silver mineralization encountered in drill holes R1706 and R1707 at relatively shallow depths below the surface.
Western IP Anomaly: One hole is planned to test the large western IP anomaly at the center of the IP anomaly along IP Line 1. The drill site is located about 1000 metres west of the old Ramsey Mine workings. A large IP response was detected in an April 2017 survey along three IP lines across a distance of over 500 metres squared, and it is open ended. Geophysical modelling of this anomaly indicates it is likely sourced from a sulphide-bearing body at least 500 metres long, 500 metres wide, and 500 metres thick. The anomaly is shallowest on Line 1, starting at about 100 metres depth, and deepens to the north where it is about 200 metres deep on lines 2 and 3. An initial vertical hole to a depth of 250-300 metres is planned to identify the source of the IP response. If the hole successfully identifies sulphides as the source, and contains silver and/or base metal values, drilling will continue from this pad to the extent possible to start to quantify the dimensions of the mineral system and a core rig will be brought in to be able to obtain core to observe the details of the mineral system.
Geologic modelling of the Ramsey Mine silver mineral system currently suggests the Ramsey Mine and associated surface alteration and broad silver mineralization encountered in drilling to date is floored in a flat fault, possibly a detachment fault, which may have slid off the IP anomaly located about 1000 metres to the west, and which may represent the original roots of the Ramsey Mine silver mineral system and associated alteration. A good example of a similarly displaced mineral system is the San Manuel-Kalamazoo copper porphyry deposit near Tucson, where the Kalamazoo deposit slid approximately 2000 metres down a flat fault and off the top of the San Manuel deposit.
The Ramsey silver mineral system appears to be very large and is wide-open to the east and south, where no previous drilling or mine development has occurred.
Please take a moment to view our web site with images of the geology and core at www.arizonasilverexploration.com.
Greg Hahn, President and CEO and a Certified Professional Geologist (#7122) is the Qualified Person under NI43-101 responsible for preparing and reviewing the data contained in this press release.
ON BEHALF OF THE BOARD
ARIZONA SILVER EXPLORATION INC.
Greg Hahn, President and Chief Executive Officer
Chairman and Director
Contact: (604) 833-4278
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the TSX Venture Exchange has in no way passed upon the merits of the transactions herein.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. Forward-looking statements in this news release include statements in relation to the timing, cost and other aspects of the 2017 program on the Ramsey property; the potential for development of the mineral resources; the potential mineralization and geological merits of the Ramsey property; and other future plans, objectives or expectations of the Company. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include the risk that actual results of current and planned exploration activities, including the results of the Company’s 2017 drilling program(s) on the Ramsey property, will not be consistent with the Company’s expectations; the geology, grade and continuity of any mineral deposits and the risk of unexpected variations in mineral resources, grade and/or recovery rates; fluctuating metals prices; possibility of accidents, equipment breakdowns and delays during exploration; exploration cost overruns or unanticipated costs and expenses; uncertainties involved in the interpretation of drilling results and geological tests; availability of capital and financing required to continue the Company’s future exploration programs and preparation of geological reports and studies; delays in the preparation of geological reports and studies; the metallurgical characteristics of mineralization contained within the Ramsey property are yet to be fully determined; general economic, market or business conditions; competition and loss of key employees; regulatory changes and restrictions including in relation to required permits for exploration activities (including drilling permits) and environmental liability; timeliness of government or regulatory approvals; and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, including that the Company’s 2017 programs would proceed as planned and within budget. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.