Arizona Gold & Silver reports new high-grade intercept at Philadelphia project

Arizona Gold & Silver Inc (TSX-V:AZS, OTCQB:AZASF) has announced new drill results from its Philadelphia project in Arizona, reporting assay results from core hole PC25-158 that intersected a broad zone of gold and silver mineralization. The company said the hole returned a total mineralized interval of 60.37 metres grading 4.36 grams per tonne (g/t) gold and 6.38 g/t silver, including a higher-grade interval of 4.33 metres at 19.37 g/t gold and 19.36 g/t silver. According to Arizona Gold & Silver, PC25-158 was drilled approximately 110 metres north of a previously reported high-grade intercept in hole PC25-156 and 60 metres north of hole PC25-157. The company said the new hole extends the wide zone of mineralization associated with the Perry Discovery area. The mineralized interval begins at 279.21 metres downhole and continues through andesite and conglomerate before intersecting the hanging wall vein at 333.54 metres. Within the broader interval, the company reported 24.21 metres grading 6.28 g/t gold and 7.18 g/t silver starting at 285.85 metres downhole. Arizona Gold & Silver stated that the high-grade portion of the intercept occurs near the top of the mineralized structure and is associated with increased densities of quartz and calcite veining. The company also noted that mineralization in this and earlier holes occurs within a consistent structural corridor defined by hanging wall and footwall veins. The company reported that silver-to-gold ratios in the high-grade interval are approximately 1:1, with slightly higher ratios in the surrounding stockwork zone. It also said sulfur content across the mineralized interval averaged at or below 0.01%, with low levels of sulfides and trace metals. “The Perry discovery continues to be well mineralized and extends a further 60m north from the last reported hole,” Arizona Gold & Silver’s VP exploration Greg Hahn said in a statement. “Vein textures continue to indicate we are still only at the top of the boiling zone of this impressive system. It is my objective to continue to push out the Perry strike length both to the north and south to demonstrate the scale of the mineralized structure.” Drilling is continuing at the Philadelphia project. Arizona Gold & Silver said core hole PC25-159 is targeted to intersect the Perry zone 60 metres north of the intercept in PC25-158 and 170 metres north of the high-grade intercept in PC25-156, and that the hole is approaching the target and has reached a depth of 289.94 metres. The company expects to provide an update on PC25-159 next week, said Arizona Gold & Silver CEO Mike Stark. “The Philadelphia project’s deep high-grade mineralized zone continues to expand along strike, following the results from hole -156,” Stark said. “The company remains in a strong financial position, with all outstanding warrants and options currently well in the money. Funds are being deposited steadily from the exercise of warrants.”