Arizona Gold & Silver (TSX-V:AZS) is planning to advance its Silverton Gold-Antimony Project in Nevada, US, after submitting a notice of intent to the Bureau of Land Management to conduct a drilling program.
The proposed program – comprising 27 reverse circulation drillholes – will test quartz-antimony veins and three holes will test a nearby magnetotelluric (MT) anomaly that was detected and quantified by a helicopter MT survey.
Formal approval to proceed with roadwork and drilling is pending.
Arizona Gold & Silver’s current plan to entertain joint venture proposal to test the antimony-gold and MT targets in order for the company to focus on advancing its Philadelphia Gold Project in Arizona, US.
The Silverton Project database contains multi-element geochemistry from over 2,000 rock samples collected primarily by previous companies, mostly by Newcrest Resources between 2002 to 2004.
Newcrest drilled 15 reverse circulation percussion holes that contained anomalous antimony values, including one hole which intersected 20 feet at more than 1% antimony.
Historical geological mapping on the project uncovered numerous discrete quartz-stibnite veins and stringers.
The company has re-assessed the quartz-stibnite vein occurrences and has identified a zone roughly more than 900m by 400m which shows up on satellite imagery as highly clay-altered and contains the preponderance of quartz-stibnite veins and stockworks.
Antimony is currently trading at US$57.50 ($87.32) per pound and has been designated a critical mineral by the US Government for defence purposes.
Silverton is a Carlin-type gold exploration property located in Nye County, Nevada. The project is near the old Silverton Mine property located about 100km northeast of Tonopah, Nevada, immediately north of US Highway 6, and consists of 77 unpatented lode mining claims totaling approximately 1,860 acres.
Arizona Gold & Silver is a dual-listed junior mining exploration company primarily in the western US.
Write to Aaliyah Rogan at Mining.com.au
Images: Arizona Gold & Silver
