Resource World Magazine

44 www.resourceworld.com A P R I L / M A Y 2 0 1 7 ARIZONA SILVER EXPLORATION INC. [AZS-TSXV] has been receiving encouraging drill results from the first phase of drilling at its 100%-owned, past-producing, Ramsey Mine silver proj- ect in La Paz County, Arizona – about two hours' drive west of Phoenix. Drill hole R1602-C intersected 50 feet (15.3 metres ~true width) grading 102 g/t silver, 0.12% lead and 0.35% zinc, including a higher grade interval of 276 g/t silver and 0.5 g/t gold over 5 feet (1.5 metres). Hole R1605-C returned 156 feet (47.5 metres) with a true width of 32 metres grading 32.4 g/t silver, including 5 feet (1.5 metres) of 280 g/t silver. The R1605-C intercept is significant in that it demonstrates appreciable thicknesses of silver occuring in the rhyolite above the high-grade vein that was the focus of historic production in the old Ramsey Mine workings and the associated footwall silver intercepts that were reported from holes R1602-C. Hole 1602-C is located 73 metres south of R1605-C. Hole R1602-C intersected 91 feet (~27.7-metres true width) grading 63 g/t silver. Historic drill- ing has returned up to 304 g/t silver over 46 metres. Discovered in 1921, the exclusively underground Ramsey Mine was in production until 1942 (World War II – War Board L-2081 closure) and then again briefly in the late 1960s when it closed due to low silver prices. In an interview, Greg Hahn, President and CEO, said, "The primary target is a wide zone of lower grade silver mineraliza- tion outside of the veins themselves that is amenable to open pit mining. I see the operation as an open pit first, with perhaps underground mining from the bottom of the pit if high-grade veins persist at depth." Hahn is of the view that the previous mine operators didn't find all the mineralized zones. In addition to silver, there are other valuable metals in the system. For example, lead and zinc values run up to 1% and there are gold values as well. "We hit up to 0.6 g/t gold in select intervals, which indicates gold is in the system, probably as a late stage of mineralization," said Hahn. "Our main target lies to the north beneath a large mag- netic anomaly. Precious metal zoning could allow for increased gold values toward the heart of the system. Arizona's largest gold mine, the Copperstone Mine, lies 25 miles to the north along the same main structure as the Ramsey Mine." At this point in time, the depth of mineralization is not yet known. Discussing Arizona Silver's business plans, Hahn said, "Our strategy is to drill and quantify a resource to the point where an established mining company comes in either via a joint venture or a corporate transaction to take the project further and ultimately into development and production." Hahn said the company's next step is to complete an IP (induce polarization) survey across both the Ramsey Mine and the large magnetic anomaly to the north, and then drill on the north side of the fault that separates the Ramsey Mine proper from the large magnetic anomaly to the north in order to test the magnetic and probable electrical anomaly that lies beneath cover to the north. The mineral system appears to be very large and is wide open to the north of hole R1605-C, where no previous drilling or mine development has occurred, and where Arizona Silver has detected a large magnetic anomaly over 0.5 km in diameter that the company believes is the faulted extension of the mineraliza- tion intersected in the Phase I drilling program. Arizona Silver Exploration has 20.7 million shares outstanding and about $400,000 in the treasury. n Drill turning at Ramsey at the north end of the old mine workings. The main geophysical anomaly lies in the flats, behind the drill, beneath an estimated 30-60 metres of alluvial cover. The dark brown drilling mud beneath the drill rig is a representation of the high iron content of the mineral system, very much like the host rocks at the Copperstone gold mine beyond the horizon further to the north. Photo courtesy Arizona Silver Exploration. Arizona Silver pleased with initial Ramsey Mine drilling by Ellsworth Dickson MINING

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