Arizona Gold & Silver (TSX-V:AZS) has received assays from the latest core holes on the Philadelphia Project in the US, which Vice President of Exploration Greg Hahn says “continues to be well mineralised”.
Hole PC25-158 extended the wide zone of gold mineralisation in the Perry discovery 110m north from hole PC25-156.
Some of the latest results include 4.33m @ 19.37 grams per tonne gold and 19.36g/t silver from 290.09m; 24.21m @ 6.28g/t gold and 7.18g/t silver from 285.85m.
Arizona Gold & Silver reports the total zone result returned 60.37m @ 4.36g/t gold and 6.38g/t silver from 279.21m.
Hahn says the vein textures continue to indicate that the company is still only at the top of the boiling zone of this 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 mineralised structure,” he says.
“We know the host structure extends more than 3km. We need to determine how much of that structure, which lies entirely within Arizona Gold & Silver property, is well mineralised.
“The potential scale of this discovery both along strike and to depth is very significant.”
Drilling is continuing with hole PC25-159 stepping out a further 60m to the north.
CEO Mike Stark adds that the company expects to provide an update on hole PC25-159 next week, as drilling approaches the target zone.
“The company remains in a strong financial position, with all outstanding warrants and options currently well in the money,” Stark says.
This news comes after Arizona Gold & Silver received assays from hole PC25-157 which demonstrated a wider mineralised structure with gold present in additional host rocks.
Results revealed that mineralisation starts at 299.76m in andesite, continuing into rhyolite at 284.54m, and conglomerate at 299.76m before encountering the Perry Vein at 313.69m, as previously reported.
The Philadelphia Project is a gold and silver vein target located in Mohave County, northwestern Arizona.
Arizona Gold & Silver is a junior precious metals explorer focused on discoveries in western US.
Write to Aaliyah Rogan at Mining.com.au
Images: Arizona Gold & Silver
