Arizona completes drilling two holes at Philadelphia

Oct 9, 2019

2019-10-09 09:41 ET – News Release

Mr. Mike Stark reports

COMPLETES FIRST TWO CORE HOLES AT PHILADELPHIA HIGH-GRADE GOLD-SILVER VEIN IN MOHAVE COUNTY, ARIZONA

Arizona Silver Exploration Inc. has completed the first two core holes of the Q4 core drilling program on its 100-per-cent-owned Philadelphia project. Philadelphia is a high-grade gold and silver vein target located in Mohave County, northwestern Arizona. The Philadelphia property is the first of two new gold projects for Arizona Silver Exploration. The first two core holes are located 100 feet to the north from our previous drilling looking for continuation of the high-grade vein where we intersected 15.82 grams per tonne (gpt) gold (Au) and 90 grams per tonne (gpt) silver (Ag) over 3.1 metres thickness in hole PRC19-2, and 7.2 gpt Au and 50 gpt Ag across 3.1 metres in hole PRC19-1. Our interpretation is the high-grade zone extends to the north of these intercepts beneath a historic surface trench sample that is reported at 1.5 metres (5 ft.) containing 39.4 gpt (1.15 ounces per ton) Au.

Core holes PC19-7 and PC19-8 intersected the targeted vein and stockwork silica in rhyolite beneath unconsolidated alluvium ranging from 27-53 feet deep (8.2-16.2 metres). The target zone consists of strong quartz-calcite veins within a brecciated matrix of mixed lithologies. At least four periods of calcite and/or quartz veining are evident in the core, including a middle stage of bladed calcite formation and a later stage of quartz replacement of bladed calcite. The latter is indicative of the upper part of the boiling zone where precious metals are generally precipitated from rising epithermal solutions. Core hole PC19-8 was drilled beneath core hole PC19-7 and shows more silica replacement of bladed calcite than is evident in PC19-7, suggesting closer proximity to the heart of the boiling zone going down the dip of the vein structure. Fine grained brassy metallic minerals are visible throughout the target zone, in a density ranging from several flecks per inch of core to one fleck per foot of core. All obvious pyrite has been thoroughly oxidized to goethite. Gold, if present, historically is contained in the mineral electrum with a 65/35 gold/silver ratio on the property, which has a less yellow color than pure gold. Core hole PC19-8 continues and will end when the footwall andesite or granite is intersected. Footwall andesite was intersected in core hole PC19-7.

Drill core from both holes has been delivered to ALS Minerals sample preparation facility in Tucson, Arizona for sawing and sample preparation. After preparation splits of samples will be sent by the ALS Minerals prep facility to the ALS Minerals analytical laboratory in Vancouver under strict chain of custody for ICP multi-element analyses, including silver, and AA analyses and fire assay for gold. Follow-up metallic screen analyses will be run on any samples containing greater than 3 gpt Au.

About the Philadelphia Project

The permitted and bonded drilling plan covers up to 24 exploration holes following up the gold-silver mineralization identified in the previous drilling on Philadelphia in holes 1 to 6 holes.

A geologic section for the six holes PRC19-1 through PRC19-6 has been posted to the website along with a long section of the proposed drilling along the vein target on the webpage. An assay section is also posted to the web site.

Greg Hahn, VP Exploration, and a Certified Professional Geologist (#7122) is the Qualified Person under NI43-101 responsible for preparing and reviewing the data contained in this press release.

We seek Safe Harbor.

http://arizonasilverexploration.com/