Arizona Silver receives OK for drilling at Philadelphia

Mar 12, 2019

2019-03-11 13:26 ET – News Release

Mr. Greg Hahn reports


Arizona Silver Exploration Inc. has received approval from the U.S. Bureau of Land Management (BLM) for its notice of intent to start an initial six-hole exploration drilling program on the Philadelphia project. The BLM has determined the reclamation bond amount required to cover the proposed drilling program and the company has submitted a cashier’s check for the requisite amount to cover the bond. The company awaits acceptance of the bond before it is cleared to commence drilling.

Separately, the company has submitted a notice of intent (NOI) and permit application fee with the Arizona Department of Water Resources to commence exploration drilling. The NOI should be approved by the end of March, 2019.

The company is finalizing costs, equipment availability and schedules with its preferred drilling contractor and support personnel to be able to commence drilling once it obtains the notice of intent.

About the Philadelphia project

The permitted plan is for the drilling of six exploration holes in a fence following the gold-silver mineralization identified in the Philadelphia No. 1 (PH-1) shaft. The fence of holes will test the easterly dipping mineralized structure along a dip length of over 500 feet (over 150 metres) from where old descriptions of underground sampling done over 100 years ago revealed good gold grades present, but not sufficient for development, at a time when gold was valued at $20 per ounce.

“The PH-1 shaft (inclined) 250 feet north of the PH-2 production shaft has been sunk to a depth of 100 feet. At the bottom of this shaft, a drift has been run northwest in ‘ore.’ Also to the south, 61 feet towards PH-2 and a crosscut all in vein material, showing the vein to be 40 feet wide at this point. The vein at this point is faulted by an intrusion and the values decrease, but run up again after leaving the break, as shown by the assays on open out, about 40 feet further north, which give over $20 to the ton.”

No development has been done at either point and no crosscut has been driven to the footwall at any point on the Philadelphia project.

The Philadelphia property was discovered in the late 1800s and operated intermittently, mostly between 1917 and 1935, as a 50-ton-per-day underground mine. Old underground mine maps show mining stopped about 150 feet (approximately 46 metres) south of the PH-1 shaft and the fence of holes the company intends to drill to test the continuity of the high-grade vein and enveloping lower-grade material. To the company’s knowledge, no drilling has been done to the north of the old mining area around the PH-2 shaft. The target remains open to the north on leased and 100-per-cent-owned claims for a distance of 4,500 feet (1.37 kilometres).

Greg Hahn, president, chief executive officer and a certified professional geologist (No. 7122), is the qualified person under National Instrument 43-101 responsible for preparing and reviewing the data contained in this press release.

We seek Safe Harbor.

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