Arizona Gold drills 34 m of Perry vein at Philadelphia

Executive Summary

• Arizona Gold & Silver Inc. intersected 34.45 metres of Perry vein material in core hole PC25-157, located 60 metres north of the high-grade intercept reported in hole PC25-156.
• The intersection confirms geological predictions and exhibits similar facies to previous high-grade holes, though assay results are pending.
• Drilling continues with hole PC25-158 currently in progress, targeting a vein intersection approximately 60 metres further north to define the strike length of the discovery.

Key Details

• Hole PC25-157 Intercept:
  • Vein Material: 34.45 metres of Perry vein material.
  • Depth Interval: Intersected from 314.02 metres to 348.48 metres.
  • Location: 60 metres north of the high-grade intercept in core hole PC25-156.
  • True Thickness: Approximately 64% of the drilled thickness due to the steep dip of the vein.
• Geological Observations:
  • The Perry vein demonstrates four distinct facies, all of which were also present in the previous high-grade hole PC25-156:
    1. Upper facies: Strong bladed dark calcite and quartz with yellow to green quartz vein clasts.
    2. Second facies: Clasts of Tr2 rhyolite cut by banded white, yellow, and locally green quartz veins.
    3. Third facies: Intense quartz vein breccia ranging from tan to slight pink to slightly red.
    4. Fourth (deepest) facies: Deep red quartz vein breccia with clayey matrix and matrix-supported quartz vein clasts, in direct contact with the Arabian fault (likely a fault breccia).
  • All facies contained gold in the previous hole; no preference for higher or lower grades in specific facies was observed.
• Assay Methodology:
  • Core delivered to Skyline Labs in Tucson, Ariz.
  • Sampling: Sawed in half, one-half sampled for crushing, pulverizing, and analysis.
  • Analysis: Fire assay with AA finish for gold; four-acid digestion and ICP analyses for silver and trace metals.
  • Rerun Protocol: Values greater than 5 grams per tonne gold will be rerun by fire assay with a gravimetric finish.
  • Preservation: Remaining core half preserved; coarse rejects saved for metallic screen analyses and future metallurgical testing.
• Future Drilling (PC25-158):
  • Status: In progress.
  • Objective: Target a vein intersection approximately 60 metres further north than PC25-157 (120 metres north of PC25-156).
  • Expected Hit: Later this month.
• Strategic Context:
  • Management aims to define the potential strike length of the discovery at the 300+ metre depth before going deeper.
  • Company believes it is at the top of the favourable 'boiling zone' of a hydrothermal system, leaving a significant target zone to pursue down-dip.

Notable Quotes

• Greg Hahn, Vice-President of Exploration: "The Perry vein was intersected as our geologists predicted. Grades are yet unknown, but it is geologically a repeat of the high-grade vein intersected in PC25-156."
• Greg Hahn, Vice-President of Exploration: "I want to define the potential strike length of the discovery at the 300 [plus] m depth before going deeper. Our understanding of this extraordinary vein is improving with each hole. I continue to believe that we are at the top of the favourable 'boiling zone' of what is a fascinating hydrothermal system. This leaves a very significant target zone to pursue down dip of this intercept."