High Gold Grades In Core Drill Hole At Philadelphia Project

VANCOUVER - Arizona Gold & Silver Inc. reported high gold grades, including 4.91 metres at 9.20 gpt gold from drill hole PC25-136 at the Philadelphia Project in northwestern Arizona. The high grades coincide with a zone of impressive epithermal quartz and calcite-bearing vein breccia in rhyolitic volcanic rocks. The high-grade interval is surrounded by lower grade stockwork.

Rising Fawn is a segment of the main trend that lacked the drilling necessary to ultimately provide a resource estimate.  PC25-136 is the first of six drill holes recently completed testing down dip and/or along strike of well mineralized intercepts reported earlier.

Vein textures demonstrate classic epithermal features, including colloform and ginguro banding and cockscomb textures. Yellow and green quartz are abundant, similar to high-grade zones in the nearby Oatman gold mines. This intercept looks to be shallow in the vein system that bodes well for continued success as we drill deeper.  

Greg Hahn, VP Exploration, said, “Drill hole PC25-136 is exciting in that it demonstrates the continuity of high-grade veining and an attendant stockwork system to the east of previously drilled mineralization.  In long section it can be seen that the high-grade intercepts demonstrate a modest plunge to the north that remain wide open in both directions. The opportunity is open for further vein intercepts along strike and down plunge. Grades improve down dip which encourages continuing to pursue the target at depth. Drilling is continuing.”