VANCOUVER, British Columbia, March 28, 2018 (GLOBE NEWSWIRE) — Arizona Silver Exploration Inc. (the “Company” or “Arizona Silver”) (TSX-V:AZS) (OTCQB:AZASF) is pleased to announce it has entered into a lease with option to purchase agreement on the Sycamore Canyon gold-silver epithermal mineral property located in Graham County, Arizona.
Sycamore Canyon Property
“We are very excited with Sycamore Canyon and believe this property has tremendous potential in both gold and silver mineralization,” said Mike Stark, Chairman of the Company. Sampling throughout the silicified breccia to date demonstrates values up to 31 grams per tonne (gpt) Au, or 0.903 ounces per ton (opt) Au, and 458 gpt (13.34 opt) Ag from within the silicified breccia. The average of all 31 rock chip samples taken from the silicified breccia body and the surrounding silicified granite is 1.77 gpt (0.052 opt) Au and 89.5 gpt (2.61 opt) Ag. The silicified breccia is covered by alluvium at the southeastern end of the extent of outcrop where the last samples collected contained between 1.34-3.02 gpt Au and 59.7 -208.4 gpt Ag. It is likely the silicified breccia body continues beneath shallow unconsolidated alluvial cover to the southeast. These results are historical but are backed by certified assay certificates from reputable laboratories that regularly service the exploration and mining industry. Some of these samples are grab samples and some are short channel samples, and some are taken outside of the breccia zone, and as a result they may not be representative of the entire width of the silicified breccia or the surrounding silicified granite. Despite these attractive historic assay values, the silicified breccia has yet to be tested with a drill hole.
Sycamore Canyon is approximately 20 miles northeast of the town of Willcox. The core of the property consists of 10 unpatented lode mining claims on US Forest Service administered public lands. The property contains a prominent silicified breccia body that is over 600 meters long and between 20-80 meters wide. The silicified body occurs primarily within Precambrian granite. Small exposures of mafic lava and agglomerate near or adjacent to the breccia containing abundant silica veining suggests mineralization extends outward into the overlying and/or intruding mafic lava. The silicified breccia has been cut by steeply dipping NE-trending cross-faults which has offset the breccia body in places. The silicified breccia may extend northward on the claim block from what has been mapped to date, as mapping to date indicates the main trend of the breccia turns westward from an otherwise north-northwesterly trend, and may continue under thin post-mineral volcanic cover beyond the limits of current mapping and sampling.
The Company has completed staking of an additional 27 unpatented lode mining claims surrounding the core group of leased claims to protect possible extensions of the silicified breccia both to the northwest and to the southeast, and to cover the possibility of additional silicified breccia bodies in the area, as well as potential future development sites. One such additional silicified breccia outcrop was discovered during claim staking that could be either a separate breccia body or an offset continuation of the main breccia located to the southwest of the last mapped and sampled outcrop of the silicified breccia. Additional mineralized breccias were identified during claim work that needs to be mapped and sampled and properly quantified.
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.
Please see additional information on website including exploration plan and terms of agreement at www.arizonasilverexploration.com
About Arizona Silver Exploration Inc.
Arizona Silver is a young exploration company focused on exploring the historically producing Ramsey Mine in Western Arizona. Surface mapping, geophysical surveying, geochemical sampling, and one year of drilling have identified a large area carrying strong surface geochemical values adjacent to the historic mine. The eleven holes drilled to date have intersected significant silver mineralization across tens of meters of thickness beneath tens of meters of alluvial cover and iron-rich rhyolite.
Please refer to our web site for all news and updated 2018 drill campaign locations. www.arizonasilverexploration.com
On behalf of the Board of Directors:
ARIZONA SILVER EXPLORATION INC.
Greg Hahn, President and CEO
Contact: Mike Stark, Chairman and Director
Phone: (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.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This news release contains certain “forward- looking statements” within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward- looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward looking statements. The reader is cautioned not to place undue reliance on forward-looking statements. The transaction described in this news release is subject to a variety of conditions and risks which include but are not limited to: regulatory approval, shareholder approval, market conditions, legal due diligence for claim validity, financing, political risk, security risks at the property locations and other risks. As such, the reader is cautioned that there can be no guarantee that this transaction will complete as described in this news release.