Vancouver, British Columbia–(October 1, 2020) – Arizona Silver Exploration Inc. (TSXV: AZS) (OTCQB: AZASF) is pleased to announce that further to its press release dated August 31, 2020, all of the 3,413,809 warrants granted under its January 2020 private placement at C$0.15 that were subject to acceleration with an early expiration date of September 30, 2020 were exercised, with such exercised warrants having a value of C$512,071.35. Directors and officers participated for C$137,900 of the exercise. Management’s participation in the warrant exercise is indicative of their continued commitment and support of the Company. Management now owns and controls 30% of the outstanding shares in the Company. Please take a minute and review the current tight capital share structure available at: http://arizonasilverexploration.com/investor-information
Mike Stark, President of Arizona Silver Exploration stated “We really appreciate the support shown by our shareholders and management. This warrant exercise tops up the treasury once again and allows Arizona Silver Exploration to continue exploration on the high-grade vein discovery on our Philadelphia property. We are expecting results very soon from 6 core holes of drilling that has been completed. We remain committed to building shareholder value with advancements in all our current properties.”
Please refer to our website for up to date information and images: http://arizonasilverexploration.com/pdf/AZS_Corporate_Presentation.pdf
About Arizona Silver Exploration Inc.
Arizona Silver is a young exploration company focused on exploring underexplored gold-silver properties in western Arizona and now Nevada. The Company plans to continue to drill test the high-grade gold-silver discovery at the Philadelphia Project near Kingman, Arizona, and the Ramsey Silver Mine property located a short distance east of Quartzsite, Arizona, Previous drilling of 20 holes to date at the Ramsey Property has demonstrated a +30 metre-thick zone of silver mineralization surrounding the old high-grade vein that was mined in the 1920s and 1930s. Also, the Company has a Plan of Operations submitted to the US Forest Service to drill the initial test holes at the Sycamore Canyon project where surface geology, geochemistry, and geophysics has demonstrated the silver-gold mineral system +600 metres long and up to 100 metres wide that has never been drilled. Arizona Silver has received a Record of Decision approving proposed work on its Silverton Gold property. The filed Notice of Intent on the Silverton property covers an exploration program consisting of construction of 5,000 feet of road access, two drill pads, and up to eight drill holes to depths of 500 feet each. Total estimated disturbance is 2.54 acres. A reclamation bond of US$10,248 is required to be posted before road construction and drilling can commence.
The proposed drill holes will test several gold-bearing structures that appear to feed stratabound jasperoid units in Paleozoic dolomitized limestone. Much of the limestone and jasperoid is brecciated. Alteration around the structures consists of argillic alteration peripheral to the jasperoids. The Long Canyon sediment-hosted deposit located in Humboldt County and operated by Newmont Mining is the model for the type of deposit we are exploring at the Silverton property, and is an example of a Carlin-type deposit that is significantly off the Carlin trend.
Please refer to our web site for all news and updated property information.
On behalf of the Board of Directors:
ARIZONA SILVER EXPLORATION INC.
Mike Stark, President and CEO, Director
Phone: (604) 833-4278