Last month, Arizona Silver Exploration Inc. announced the completion of its first reverse circulation (RC) drilling program in the first quarter of 2023 at its Philadelphia exothermal gold and silver project. Read on to find out what the company plans next and what the experts have to say about this gold and silver inventory.
Canadian mining company Arizona Silver Exploration Inc. (AZS:TSX; AZASF:OTC) have Complete first reverse circulation (RC) Drilling program for the first quarter of 2023 at the Philadelphia Geothermal Gold and Silver Project in Mojave County, Arizona.
The company drilled a total of 12 holes reaching 1,256 meters. They are awaiting assay results as the samples are prepared in Tucson, Arizona and shipped to Vancouver, British Columbia for assay.
Five holes were completed in one of the three patented claims known as the Rising Fawn Zone, and the remaining seven holes were drilled at GAP in the Perry Zone.
Holes drilled in the Rising Fawn Zone had stockwork quartz mineralization, as expected in rhyolite embankments and footwall granites. On the other hand, his GAP hole in the Perry zone intersected with green to gray quartz, with good spacing between silicification and stockwork quartz.
Upon inspection, cutouts from all 12 holes had visible gold and quartz streaks.
“We have drilled 1.7 kilometers of strike length and up to 250 meters of dip to date in this impressive mineral system. The entire area drilled to date is well mineralized and remains open along the strike—both directions and downward dips,” said Greg Hahn, vice president of exploration for Arizona Silver. Told.
He pointed out that the mainline ‘outcrop’, a visible bedrock with surface sediments, continues 1.4 km further south and has never been drilled. This indicates potential for more drilling activity and production.
Arizona Silver is a young exploration company focused on gold and silver properties in Arizona and Nevada. Its gold and silver projects include a Philadelphia property, the Silverton Gold Project in Nye County, Nevada, the Ramsey Silver Project in Western Arizona, and the Sycamore Canyon Project in Southern Arizona.
Catalyst: Further drilling, pending BLM drilling permit
Arizona Silver has also identified ten drilling sites within the Resaca Zone for patented claims in future drilling campaigns. The Resaca zone has never been drilled but shows excellent silver–gold geochemistry from stockwork quartz exposed in the host rhyolite dyke.
Chris Temple national investor Arizona Silver describes itself as a “very promising” company with a bright outlook.
Hahn said the company had previously drilled 60 holes in an unpatented claim located about 500 meters north of the Resaca zone. More than half of these holes showed high-grade veins and adjacent stockwork quartz mineralization.
The company is currently allowing 40 additional holes from several drill sites based on the Bureau of Land Management’s on-land claim. These holes test the continuation of the Perry Zone descent and the strong CSAMT anomalies recently identified under the Red Hills bulk tonnage target.
why gold?
As we enter 2023, gold is showing signs of bullishness. The National Inflation Association notes that the gold price has risen 13.4% to its current price level in his three-and-a-half months.
this rally National Inflation Association It is projected to reach US$2,670 per ounce by the end of 2023.
on the other hand, Future trend digest We also expect gold prices to improve further over the next three months as “recession fears intensify and the economy as a whole shifts from recession pricing to recovery pricing”.
“Gold will benefit from this, as it has already started to rise,” said the FTD.
Why Arizona Silver?
Chris Temple national investor Arizona Silver is bright due to the continuously expanding area and size of mineralization and the very positive sightings of visible gold on the surface of mining sites even before analysis is available. It is a “very promising” company that shows promise.
“With bullish moving averages and a strong accumulation line, this is a chart that promises to quickly break through resistance towards the C$0.40 level, and perhaps an accelerated uptrend,” said Clive Mound. The time will come,” he said.
“Certainly, beneath that great rhyolite dome, there may be hidden gold and silver resources far beyond what anyone ever thought. Secondly, the official analysis results are still Free and visible gold can be taken out of the pan even though it’s needed, and grinding out of some of these holes is what gets attention,” Temple said.
Even before this news, he said AZS’s shares were already performing better than average among other junior miners he could not survey in the past few months. .”
Mr. Temple said last September that Arizona Bank may hold between 3 and 4 million ounces of high-grade gold resources in its Philadelphia property alone.
Now that AZS shares are held by “strong-than-average” investors, he’s probably drawn to the company’s positive developments towards a “big breakout story”, so he’ll be selling the stake soon. says it won’t happen.
Arizona Silver, on the other hand, listed three key factors that make its stock valuable. Tight share structure, low monthly cash burn rate and continued expansion of the Philadelphia project.
“We have one of the tightest stock structures that hasn’t been blown up, management has big stakes as well, and (and) we don’t sell shares. The company is very It has a low burn rate and money is put into the ground to propel the asset forward for higher shareholder value.Philadelphia is getting bigger with every hole it drills,” the company said.
On March 19, 2023, Clive Maund shared this chart at Arizona Silver.
“With bullish moving averages and a strong accumulation line, this is a chart that promises to quickly break resistance towards the C$0.40 level, possibly leading to a period of accelerated rally.”
Ownership and share structure
The company’s management and advisors own over 28% of the company. Advisor Brandi Stiles owns 14.11% of him in 9.77 million shares, according to Reuters. Greg Hahn, vice president of exploration, said he’s 4.68%, or 3.24 million. President and CEO Mike Stark said he is 3.79%, 2.62 million. CFO Dong H. Shim is 1.16% at 800,000 and director Eugene (“Gene”) Spiering said he is at 0.09% at 0.06 million.
9.9% of Arizona Silver is owned by the institution. Wealth Management AG owns his 5.62 million shares at 8.11% and also owns Moloney Securities Asset Management LLC. is 0.01%, which is 0.01 million.
The rest are held by individual investors.
Arizona Silver has not disclosed how much money it currently has in the bank. However, the monthly burn rate is CA$24,000 and the drilling cost is CAD$50/ft for the core, or about CAD$35/ft for the RC all-in cost.
Arizona Silver reports that it has no overhanging sellers or warrants, but reports that it is likely that the warrants will be exercised in 2023 as the stock price rises.
according to market watchArizona Silver has a market capitalization of C$30.14 million, with 68.92 million shares trading between C$0.17 and C$0.54 over a 52-week period.
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1) Nika Catalado wrote this article as an independent contractor for Streetwise Reports LLC. She or a member of her family owns securities of the following companies mentioned in the article: None. She or her family receives payments from the following companies mentioned in this article: None.
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