Reports Positive Initial Geophysical Survey and Completes Rock Chip Sampling
VANCOUVER, British Columbia, April 16, 2018 (GLOBE NEWSWIRE) --
Arizona Silver Exploration Inc.(the "Company") (TSX-V:AZS) is pleased to announce today the results of the initial geophysical surveying at its 100% owned Sycamore Canyon gold-silver property located in Graham County, Arizona.
Arizona Silver Exploration Inc. completed eleven kilometres of VLF-EM survey lines across the prime gold-silver bearing breccia and silicified zone in the heart of the property. The survey grid covers an area 600 metres long by 500 metres wide, with geophysical lines on 25-metre spacing and stations every 10 metres. Notably, the survey detected the main target zone from one end of the grid to the other, and clearly shows the target extends beyond the limits of the initial grid. The main target is between 50-100 metres wide where exposed intermittently in outcrop, and appears to split into two sub-parallel anomalies 100 metres wide in aggregate at the southern end of the grid where the target is covered by shallow(?) alluvium. In addition to defining the geometry of the prime target area and the open extensions of this target to both the north and south of the initial grid area, the survey identifies several parallel but weaker structures that could represent additional targets within the grid area. A map of the initial geophysical results will be posted to the web site at www.arizonasilverexploration.com.
Rock Chip Sampling
The Company has also completed rock chip sampling across the geophysical grid area and has submitted 98 rock samples to ALS Minerals' sample preparation facility in Tucson for multi-element ICP analyses and AA gold analyses. The objective of the sampling exercise is to be able to identify the visual geologic features that correlate with elevated gold and silver analyses. Historic rock sampling on the property by the underlying owners detected gold and silver values up to 31 gpt (0.9 opt) Au and 458 gpt (13.34 opt) Ag, but the descriptions of those samples are inadequate to correlate precious metal values with discernible geology. Earlier historic sampling on the property reported in 1962 and discovered in a report in the Arizona Geological Survey archives identified values of up to 50% Pb and 73.9 opt Ag from samples with fine-grained disseminated galena from a small mine dump along the main breccia target area to 0.25% Cu and 1.95 opt Ag from samples with no apparent sulfides present. The results of our recent sampling exercise will be reported when received. A broad soil geochemical survey may be planned, based upon the results of the rock chip geochemistry and the extent of mineralization identified by the rock geochemistry. Outcrop is sparse in the area of the prime breccia and silicified target, but soils appear to be dominantly residual with outcrop probably present at shallow depths.
Greg Hahn, President and CEO said "We were particularly attracted to the Sycamore Canyon property because the geology has some similarities to the upper portions of gold-silver ores from the Comstock lode in Nevada. At Comstock, the upper portions of the precious metal lodes were characterized by brecciated quartz veins and encasing silicified wallrock with erratic to absent precious metal and base metal values. Many of the high-grade lodes discovered by underground drifting had no visible manifestation either at the surface or vertically above the high-grade stopes when intersected by subsequent exploration drill holes looking for up-dip extensions. We believe we may be at the very top of the level where precious metals and base metals were precipitated from solutions at Sycamore Canyon. The prime target on the property has never been drilled and we look forward to being able to drill this target area later this year."
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
Contact: Mike Stark, Chairman and Director
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.
Source: Arizona Silver Exploration Inc.