The maps and diagrams would not load but Jeff's opinion is very welcome.
February 23, 2023: Arizona Silver Exploration (AZASF; T.AZS) prepares to drill the “gap” at Philadelphia.
The gap refers to the area between two sections of strike that have already been drilled and had strong mineralization.
To give you a sense of the potential in the gap itself, this untested area had 95 channel samples done, most of which were mineralized and many of which assayed over 1 g/t gold—with the strongest results were right in the middle. This is a good hint that the strike continues.
Management is putting in 20 holes in the first section of this area. This map shows the proposed drilling holes (in red).
They won’t be deep holes, but the team basically wants to confirm what’s here. Again, this area has never been drilled before, and if it hits the strike here would end up being 1,500 meters long. This would likely wake the market up to what Arizona Silver is sitting on.
You can see lots of new photos and maps of the Philadelphia project here.
By the way, the press release of February 7 (see our comments that day) indicated management thought they were “on top of a boiling zone, which could be a feeder zone for the mineralization.” That will get drilled once it’s permitted… that section of claims is on BLM land (Bureau of Land Management, a federal agency). The permit is expected soon. The “gap” on the other hand is on patented property, so they don’t have to file with the Bureau (meaning it's much quicker to act).
One more noteworthy thing…
StreetWiseReports issued a detailed article on Arizona Silver yesterday. It has some good information in it, including a quote from industry veteran Chris Temple that is very compelling: “… between the shallower open-pittable material and the higher-grade source, Arizona Silver could be sitting on three-four million ounces just at Philadelphia.”
I don’t believe he’s a geologist, so I don’t want to count on that figure, though he’s been in the industry for 4 decades and has seen a lot of projects, so his opinion is worth considering.
If he ends up being right, in my opinion this stock could easily 10-bag from the current C$21.8 million market cap.
February 7, 2023: Arizona Silver Exploration (AZASF; T. AZS) geophysical survey identifies a large drill target.
Management conducted a geophysical survey a couple weeks ago and recently got the results back. Recall from our January 25 comments that the company thought they may be on top of a “boiling zone,” which could be a feeder zone for the mineralization they’ve been seeing. Well, this geophysical survey adds further evidence to that theory and gives the geo team a more specific target for drilling.
In the map below, you’ll see the “Arabian Fault” line in the middle, which basically saw mineralization go from 1 g/t gold near the top, to 2 g/t gold, then 3 g/t by the time they got to the bottom of the hole, obviously getting richer as they went deeper. Notice the labels “Feeder” and “Clay Cap” below and beside that hole… these potential high-grade zones were identified by the geophysical survey and are where management will point the drills in the upcoming program.
The results of the survey basically give geologist Greg Hahn and the team more confidence that this area could be the mineral feed source. They won’t know until they drill it, of course, but it does add confidence to their model. We’ll see this drilled soon, my guess sometime this spring, and the company already has the capital for it.
In this interview with Advisor Yale Simpson, it appears that some of the things he mentions are in the process of being firmed up, including the BLM permits. 2023 could see some interesting developments coming from Arizona Silver Exploration.
By the way, my father prospected not far from here, at Golden Valley, which you can see on this cool map from Junior Mining Hub. He liked the area so much he pulled a trailer down there for weeks at a time to work.
In speaking to management, I can tell you they’re excited. They’re seeing where the source of the mineralization may lie. If what the data hints at is correct, this stock will no longer have a C$22 million market cap. I’m glad I’m invested.