Arizona Silver Exploration, Inc. (AZS:TSX; AZASF:OTC) recently announced the results of the first deep corehole test for downdip continuity at the Philadelphia Project. Located in Arizona, this core drilling redefines some of the information about the project, particularly the new formation known as the Footwall and Upper Vein. Arizona Silver is based in Canada.

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Arizona Silver recently released information on the first deep core hole testing of gold and silver down-dip continuity at the Philadelphia Gold and Silver Project in Mojave County, Arizona.

Most notably, Hall PC23-111 was completed to a depth of 319.5 meters, thereby confirming the downward extension of both the Hanging Wall (HW) and Footwall (FW) venous systems. is. His third vein, called the superior vein, crossed over.

Excavation results are as follows.

Drill hole PC23-111 was drilled from the same drill pad as PC22-91 and was designed to test known HW and FW veins 30–40 m below the section of hole PC22-91. The holes intersected the HW at depths 230.59–231.59 m and the FW veins at depths 275.15–285.12 m. It crossed a new vein from 187.26 meters to 190.95 meters.

Clive Mound recently reported that he bought the company’s stock “at what was thought to be a good entry point…”, but now it’s reacted a little better than expected, especially in terms of: Said to be at a good entry point. The technical setup is even more positive. “

The upper vein is composed primarily of calcite-consolidated quartz breccia, with a predominantly calcite matrix. This is a feature where the higher slopes of the Philadelphia project block the veins. Sections of the HW vein are similar to sections found in previous excavations. The FW vein is somewhat different from the previous interception on the updip hole.

Unlike previous samples, the FW veins of PC23-111 have very thin sections of blade-like calcite texture and minimal calcite. It was intersected with fragments of mostly fine-grained saccharite quartz veins, sometimes with streaks and dark streaks. The FW vein appeared to plateau as it was blocked higher in the hole than expected, indicating that it did not continue along the previous slope.

The company announced its Red Hills target on February 7.^th, 2023, this is a geophysical anomaly beneath the Red Hills just east of the known deposit in Philadelphia. PC23-111 blocked low-resistivity features interpreted as ‘feeder zones’ for major CSAMT abnormalities.

Arizona Silver continues drilling with new 45 degree holes from the current drill pad. This drill is designed to test the western portion of the low-resistivity CSAMT anomaly believed to be the clay cap above the boiling zone. This is related to the Red Hills target.

why gold?

Last month, gold saw a correction after hitting all-time highs. But, as Adrian Day has pointed out, recession fears continue to support gold amid declining confidence in the dollar.

Gold prices have risen again this month, and speculation of further record-breaking is still lingering.

The ongoing banking crisis and Federal Reserve action will continue to support gold. Richard Mills of Ahead of the Hardin addition to the strong demand and unchanged supply of gold.

catalyst

Clive Mound recently reported that he bought the company’s stock “at what was thought to be a good entry point…”, but now it’s reacted a little better than expected, especially in terms of: Said to be at a good entry point. The technical setup is even more positive. “

Arizona Silver reports that training results will be announced in due course. The company has a tight equity structure with significant investments from management and insiders. Also, from 2021 onwards, he has a 100% borehole hit rate across all patented above-ground drilling and mineable grades. Drilling results for the fourth quarter of 2022 will be announced shortly.

Ownership and share structure

Arizona Silver has a market capitalization of C$20,068,000. There are 69,201,075 shares, 8,521,426 subscription rights to shares, and 5,487,250 options. It trades between C$0.17 and C$0.59 over a 52-week period.

Management and insiders own over 28% of the company. Brady Styles with 10.62 million shares at 15.01%, Gregory A. Hahn with 3.79 million shares with 5.36%, Mike Stark with 2.64 million shares with 3.73% and John David Vincent with 1.25 million shares. 1.77%, Shim Dong-hyun owns 1.28%. 900,000 shares. James B. Engdahl owns 0.28% of his 200,000 shares and Eugene Spiering owns 0.09% of his 0.06 million shares.

In terms of institutional investors, SSI Wealth Management AG owns 5.62 million shares, or 7.94%, and Moloney Securities Asset Management owns 0.01%, or 0.01 million shares.

Arizona Silver reports no strategic investors.

The company’s monthly burn rate is $24,000 CAD and monthly drilling costs are $50 CAD per foot for core and about $35 CAD per foot for RC.

The company reports no potential downsides.

Arizona Silver is not affiliated with any IR company and is not affiliated with any influencers. Brent Cooke provides company analysis and news coverage.

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