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Silver Company Provides Exciting Update on Gold Find

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Arizona Silver has provided an update on the Silverton property that suggests more mineralization than previously thought. Read on to see how much gold remains on the property.

Arizona Silver Exploration Inc. (AZS:TSX; AZASF:OTC) has announced an update on the Silverton carbonate-hosted gold exploration property located in Nevada. The highlights of the update are as follows:

  • In late March, the company completed a combined helicopter-borne magnetotelluric and magnetic survey flown over the entire property.
  • The company found rock chip gold samples above 100ppb across an area that was 2.5 kilometers by 3 kilometers.
  • Locally strong stibnite-quartz-gold veins in volcanics above the target limestone/dolomite section were also uncovered.
  • A two-year extension was obtained on a drilling permit (Notice of Intent) with the Bureau of Land Management (BLM)

The Silverton property is a large claim block of 1860 acres and contains anomalous gold above 100ppb in rock chip samples across an area of 2.5kms by 3kms. The gold is accompanied by strongly anomalous arsenic, antimony, mercury, and other metals (the classic Carlin-type or intermediate sulfidation metal suite).

Most of this area has exposures of Paleozoic carbonate rocks that are variably altered to dolomite. In both the eastern and western ends of the property, the carbonates are overlain and intruded by Tertiary volcanics dated at late Eocene to early Oligocene in age. The central area of exposed carbonate rocks appears to be a shallow anticline or complex dome.

Extensive low-grade gold-bearing jasperoid replacement deposits occur primarily at the contact between the carbonates and the overlying volcanics. Jasperoids also occur in the carbonates and volcanics along faults, fractures, and bedding planes.

Arizona Silver has been described favorably by analysts. Chris Temple of The National Investor has described the company's past results as "uber exciting."

No serious exploration has been done to test the altered carbonate package containing the bulk of the gold and trace metal anomalies or in the carbonates beneath the swarm of quartz-antimony-gold veins.

Data from the site suggests a subtle geochemical halo occurs up the thousands of feet above the high-grade deposits, occurring mostly along faults, fractures, and bedding planes.

The company also contracted Expert Geophysics Ltd. to fly the MT survey over the claim block. The survey provided a 3D data set to aid in mapping resistivity changes and structures down to the depth limit of the survey. The survey revealed several obvious low resistivity anomalies beneath the surface features referenced above. The company staked an additional 16 claims to cover the eastern margins of the large resistivity anomaly.

According to Gregory Hahn, the Vice President of Exploration, "Our interpretation of the survey results are as follows. One very prominent low resistivity zone, interpreted as alteration, occurs along a strike length of +1.5 kms and a width of 0.5 km beneath a strongly silicified (resistive) volcanic cap… We interpret these intercepts as the distal fringe of the heart of the anomaly, which may represent a source for the low-grade intercepts. Several other weaker and shorter anomalies also are identified with low-grade gold intercepts in their vicinity. Importantly, the air magnetic survey shows a large intrusion at depth." 

A Market on the Upswing

According to Technical Analyst Clive Maund, the recent breakout for gold and silver was driven, at least in part, by the decline of the dollar.

Maund said that "the point is that the PM sector — and commodities generally — are embarking on a long and powerful upleg that is still in its earliest stages . . .  The dollar cratered yesterday with a breathtaking 1.2% drop in the dollar index, which broke it down from the bear Pennant it has been stuck in since late January." As the value of the dollar sinks, investors may flock to precious metals to preserve the value of their portfolio. 

An "Uber Exciting" Record

Arizona Silver has been described favorably by analysts. Chris Temple of The National Investor has described the company's past results as "uber exciting."

Streetwise Ownership Overview*

Arizona Silver Exploration Inc. (AZS:TSX; AZASF:OTC)

*Share Structure as of 4/13/2023

Temple went on to say, "AZS shares had already been better-than-average performers among the universe of exploration juniors that haven't been able to get out of their own way for many months, despite the occasional — and current — spike in gold's price especially." 

Ownership and Share Structure

Brady Stiles owns 14.86% of the company with 10.62 million shares. Gregory A. Hahn owns 5.30% with 3.79 million shares. Mike Stark owns 3.70% with 2.64 million shares. David John Vincent owns 1.75% with 1.25 million shares. Dong Hyun Shim owns 1.26% with 0.90 million shares. Eugene Spiering owns 0.09% with 0.06 million shares, and James B. Engdahl owns 0.07% with 0.05 million shares.

SSI Wealth Management AG owns 9.01% with 6.45 million shares, and Moloney Securities Asset Management LLC owns 0.01% of the company with 0.01 million shares. The company reports no strategic investors.

John Kaiser, Chris Temple, Jeff Clark, and Michael Fox all provide news coverage and analysis of the company.

There are 71.51 million shares outstanding, with 52.18 million free-float traded shares. The company has a market cap of CA$27 million. It trades in the 52-week period between CA$0.17 and CA$0.59.

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Important Disclosures:

  1. Arizona Silver Exploration Inc. has a consulting relationship with an affiliate of Streetwise Reports, and pays a monthly consulting fee between US$8,000 and US$20,000. 
  2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Arizona Silver Exploration Inc.
  3. Amanda Duvall rote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
  4. The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

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