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Arizona Gold & Silver Inc (TSX-V:AZS, OTCQB:AZASF, FRA:A9J0) has provided an update on drilling at its Philadelphia Project, highlighting short-term variability in results while emphasizing what CEO Mike Stark described as a significant exploration opportunity still in its early stages.
Stark said holes 159 and 160 encountered faulting on either side of the current upwelling zone, which affected near-surface continuity. He explained that the upwelling zone remains “completely wide open at depth,” but that the geology changes at the surface level where drilling occurs over the faulted areas.
He also noted that after a successful run of many holes, this outcome was “somewhat expected.” Stark added that the company expects additional upwelling zones along strike, citing that over roughly 50 to 60 feet across its 1,000 feet of strike, another upwelling zone could be encountered.
On the company’s plan for the next two holes, Stark said Arizona Gold & Silver is stepping up beside hole 136 to better understand conditions on either side of the zone. He described hole 136 as having produced a “very, very healthy hit,” and said the upcoming drilling is intended to help clarify what is happening below the section above holes 156, 157 and 158.
Stark said the area is “a good area to be drilling” and that it needs to be infilled “in time,” with the current drilling program designed to improve understanding of the system.
The CEO said the company is not disappointed by the results, adding that it is “overwhelmed” by the scale of the system. Stark characterized the Philadelphia Project as a “very big, robust system over 165 metres wide.”
He also addressed permitting for drill pads, stating that the permitted area represents only a portion of the overall project. Stark said the concentration area is 3.5 acres out of 3,100 acres controlled by the company. He added that the permit is expected to extend to the south end of the property, covering a kilometre and a half of untested vein exposure.
Stark said the company is also focused on Red Hill, which he described as a major opportunity to drill down dip and along strike to identify other upwelling zones. He referred to the Oatman district, located 14 miles away, as historical evidence supporting the expectation that grades may improve down dip.
Concluding the update, Stark said the company views the situation as an early-stage discovery, describing it as “a significant discovery” that remains to be explored as far as he is concerned.
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